Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Summary of Weighted Average Assumptions Used for Options Granted

The following weighted average assumptions were used for options granted:

	Years Ended December 31,
	2019		2018		2017
Expected life (in years)	6.0		6.0		6.0
Expected volatility	26.6	%	26.7	%	28.1	%
Risk-free interest rate	1.8	%	2.7	%	2.0	%
Expected forfeiture rate	—	%	—	%	—	%

Summarizes Restricted Stock Unit and Performance Share Activity

The following table summarizes restricted stock unit and performance stock unit activity during fiscal year 2019 (shares in thousands):

	Number of Shares		Weighted Average Grant Date Fair Value per Share
Unvested at January 1, 2018	—		$	—
Granted	336		221.29
Vested	—		—
Forfeited	(2	)	229.75
Unvested at December 31, 2018	334		221.25
Granted	256		241.19
Vested	(76	)	221.15
Forfeited	(14	)	229.75
Unvested at December 31, 2019	500		$	231.57

Stock Option Activity

Other information pertaining to option activity was as follows during the twelve months ended December 31:

	2019		2018		2017
Weighted average grant-date fair value of stock options granted	$	74.54	$	66.52	$	55.56
Total intrinsic value of stock options exercised	$	155,899	$	176,716	$	137,699

Options granted, exercised, forfeited and expired are summarized as follows:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2016	5,156		$	83.64
Granted	824		176.26
Exercised	(1,113	)	44.80
Forfeited	(50	)	134.83
Outstanding at December 31, 2017	4,817		107.91
Granted	432		208.21
Exercised	(1,126	)	66.53
Forfeited	(31	)	158.80
Outstanding at December 31, 2018	4,092		129.51
Granted	162		251.58
Exercised	(999	)	96.92
Forfeited	(29	)	174.54
Outstanding at December 31, 2019	3,226		$	145.27	6	$	499,124
Exercisable at December 31, 2019	2,067		$	121.07	6	$	369,938

Summary of Share-Based Compensation Expense Related to Share-Based Awards

The following table summarizes share-based compensation expense related to share-based awards which is recorded in the consolidated statements of comprehensive income:

	Years Ended December 31,
	2019			2018			2017
Cost of software services, maintenance and subscriptions	$	15,002		$	13,588		$	9,415
Selling, general and administrative expenses	44,965			39,152			27,933
Total share-based compensation expenses	59,967			52,740			37,348
Excess tax benefit	(29,819		)	(32,487		)	(40,624		)
Net decrease (increase) in net income	$	30,148		$	20,253		$	(3,276	)