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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of type and fair value of the stock-based compensation awards granted during the period
The following table illustrates the type and fair value of the stock-based compensation awards granted during the three months ended March 31, 2021 and 2020, respectively:
 Three Months Ended March 31, 2021Three Months Ended March 31, 2020
 Shares GrantedWeighted-Average Fair Value Per ShareWeighted-Average Grant Date Stock PriceShares GrantedWeighted-Average Fair Value Per ShareWeighted-Average Grant Date Stock Price
Stock options1,084,821 $56.30 $219.76 1,913,888 $25.98 $127.60 
RSUs448,311 $219.76 $219.76 705,287 $127.60 $127.60 
PRSUs266,894 $219.76 $219.76 371,641 $127.60 $127.60 
Schedule providing assumptions used in determining the fair value of stock-based awards
The following table provides the assumptions used in determining the fair value of the stock-based awards for the three months ended March 31, 2021 and 2020, respectively:
 
 Grant Year
 20212020
Weighted-average dividend yield2.60%2.47%
Weighted-average volatility32.9%25.7%
Range of volatilities
29.2% - 45.8%
24.5% - 29.7%
Range of risk-free interest rates
0.06% - 1.41%
1.21% - 1.39%
Weighted-average expected lives8 years8 years