STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2023

STOCK-BASED COMPENSATION

Schedule of weighted-average assumptions used to estimate the fair value of options granted

	Three-Months Ended June 30,				Six-Months Ended June 30,
	2023		2022		2023		2022
Dividend yield	0.0	%	0.0	%	0.0	%	0.0	%
Expected volatility	27.4	%	27.8	%	27.6	%	27.7	%
Risk-free interest rate	3.7	%	3.0	%	3.7	%	2.1	%
Expected term	6.3 years		6.2 years		6.3 years		6.0 years

Summary of activities with respect to its stock option plans

				Weighted-
		Weighted-		Average
		Average		Remaining
	Number of	Exercise		Contractual
	Shares (in	Price Per		Term (in	Aggregate
Options	thousands)	Share		years)	Intrinsic Value
Outstanding at January 1, 2023	29,710	$	26.38	5.0	$	724,651
Granted 01/01/23 - 03/31/23	3,962	$	50.82
Granted 04/01/23 - 06/30/23	31	$	59.36
Exercised	(3,990)	$	14.95
Cancelled or forfeited	(222)	$	37.82
Outstanding at June 30, 2023	29,491	$	31.15	5.6	$	775,296
Vested and expected to vest in the future at June 30, 2023	28,511	$	30.71	5.4	$	762,069
Exercisable at June 30, 2023	18,659	$	24.70	3.8	$	610,938

Summary of activities with respect to non-vested restricted stock units and performance share units

		Weighted
	Number of	Average
	Shares (in	Grant-Date
	thousands)	Fair Value
Non-vested at January 1, 2023	2,026	$	36.27
Granted 01/01/23 - 03/31/231	523	$	48.49
Granted 04/01/23 - 06/30/23	22	$	59.70
Vested	(592)	$	32.80
Forfeited/cancelled	(11)	$	32.83
Non-vested at June 30, 2023	1,968	$	40.85

¹The grant activity for performance share units is recorded based on the target performance level earning 100% of target performance share units. The actual number of performance share units earned could range from 0% to 200% of target depending on the achievement of pre-established performance goals.