SHARE-BASED COMPENSATION PLANS

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS

During the three months ended June 30, 2024, a total of 4,016 shares of restricted stock were granted on May 15, 2024, with a fair value of $377.80 per share. During the three months ended June 30, 2023, a total of 925 shares of restricted stock were granted on May 18, 2023, with a fair value of $372.91 per share.

For the six months ended June 30, 2024, a total of 218,959 shares of restricted stock were granted as follows: 207,839, 7,104 and 4,016 of shares of restricted stock were granted on February 28, 2024, February 29, 2024 and May 15, 2024, respectively. The fair value per share of each restricted stock award was $369.52, $367.04 and $377.80, respectively. Additionally, 18,713 performance share unit awards were granted on February 28, 2024, with a fair value of $369.52 per unit.

For the six months ended June 30, 2023, a total of shares of 175,096 restricted stock were granted: 174,171 and 925 shares of restricted stock were granted on February 23, 2023 and May 18, 2023, respectively. The fair value per share of each of the awards was $382.39 per share and $372.91 per share, respectively. Additionally, 14,975 performance share unit awards were granted on February 23, 2023, with a fair value of $382.39 per unit.