STOCK-BASED AWARDS (Tables)

3 Months Ended

Mar. 31, 2024

STOCK-BASED AWARDS [Abstract]

Summary of Stock Option Activity

Stock option activity during the three months ended March 31, 2024 is summarized as follows:

	Option ‎Shares (thousands)	Weighted ‎average ‎exercise ‎price		Weighted ‎average ‎remaining ‎contractual ‎life (years)	Aggregate ‎intrinsic ‎value ‎(thousands)
Outstanding at December 31, 2023	11,401	$	53.02
Granted	1,453		52.87
Exercised	(112)		29.59
Forfeited	(149)		58.91
Outstanding at March 31, 2024	12,593		53.18	6.6	$	61,779
Exercisable at March 31, 2024	7,530		50.44	5.4		51,454
Expected to vest at March 31, 2024	5,063	$	57.24	8.5	$	10,325

Fair Value of Options Using Black Scholes Option Pricing Model

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:

	Three Months Ended
	March 31,
	2024			2023
Risk-free interest rate	4.02%	-	4.35%	3.45%	-	4.10%
Expected term (years)	4.8	-	5.5	4.7
Expected volatility	37.0%	-	38.0%	35.0%	-	38.0%
Expected dividend yield		—%			—%

Summary of Restricted Stock Unit Activity

	Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2023	820	$	54.98
Granted	6		53.59
Vested	(300)		—
Forfeited	(8)		—
Outstanding at March 31, 2024	518	$	55.48	2.67

Summary of Performance Restricted Stock Unit Activity

	Performance-Based Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2023	106	$	53.61
Granted	—		—
Vested	(5)		54.10
Forfeited	(13)		54.10
Outstanding at March 31, 2024	88	$	53.50	2.39

Stock-based Compensation Schedule

	Three Months Ended
	March 31,
(In thousands)	2024		2023
Stock-based compensation expense	$	17,260	$	8,953
Net stock-based compensation capitalized into inventory		21		79
Total stock-based compensation cost	$	17,281	$	9,032