Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Stock-Based Compensation [Abstract]

Schedule of Assumptions Used to Estimate Fair Value of Stock Options

	For the nine
	months ended
	September 30, 2023
Risk free interest rate	3.96%
Dividend yield	1.5%
Expected volatility	30%
Expected lives	4.4 years

Summary of Stock Option Activity

		Weighted-		Weighted-Average
		Average		Remaining
	Number	Exercise Price		Contractual	Aggregate
	of Shares	Per Share		Life (in years)	Intrinsic Value
Outstanding at December 31, 2022	1,673	$	161.02
Granted	20	$	224.24
Exercised	(181)	$	128.11
Forfeited/canceled	(14)	$	238.10
Outstanding at September 30, 2023	1,498	$	165.11	1.9	$	54,436
Exercisable at September 30, 2023	1,469	$	163.42	1.8	$	54,436
Unvested at September 30, 2023	29	$	254.17	9.3	$	—

Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity

	RSUs			PSUs (1)
		Weighted-Average			Weighted-Average
	Number of	Grant Date Fair		Number of	Grant Date Fair
	Shares	Value per Share		Shares	Value per Share
	(in thousands)			(in thousands)
Outstanding at December 31, 2022	222	$	280.66	429	$	332.18
Granted	175	$	254.60	97	$	263.17
PSU adjustment (2)	—	$	—	65	$	302.96
Vested	(118)	$	264.39	(207)	$	345.08
Forfeited/canceled	(13)	$	276.96	(15)	$	298.42
Outstanding at September 30, 2023	266	$	270.40	369	$	298.50

(1)PSUs represent the target number of shares granted that are issuable at the end of the three year performance period. Fair value for a portion of the PSUs was calculated using a Monte Carlo simulation model.

(2)PSU adjustment represents the net PSUs awarded above or below their target grants resulting from the achievement of performance targets established at the grant date.