STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

STOCK-BASED COMPENSATION

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

	Three-Months Ended September 30,				Nine-Months Ended September 30,
	2023		2022		2023		2022
Dividend yield	0.0	%	0.0	%	0.0	%	0.0	%
Expected volatility	27.0	%	27.6	%	27.6	%	27.7	%
Risk-free interest rate	4.2	%	2.8	%	3.7	%	2.1	%
Expected term	6.3	years	6.2	years	6.3	years	6.1	years

Schedule 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
Granted 07/01/23 - 09/30/23	25	$	57.71
Exercised	(4,218)	$	15.54
Cancelled or forfeited	(306)	$	40.05
Outstanding at September 30, 2023	29,204	$	31.17	5.3	$	636,250
Vested and expected to vest in the future at September 30, 2023	28,330	$	30.77	5.2	$	628,547
Exercisable at September 30, 2023	18,467	$	24.70	3.5	$	521,638

Schedule 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
Granted 07/01/23 - 09/30/23	2	$	56.38
Vested	(593)	$	32.82
Forfeited/cancelled	(12)	$	32.71
Non-vested at September 30, 2023	1,968	$	40.86

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.