v3.24.3
STOCK-BASED AWARDS (Tables)
 9 Months Ended
Sep. 30, 2024
STOCK-BASED AWARDS [Abstract]  
Summary of Stock Option Activity Stock option activity during the nine months ended September 30, 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

2,592

55.15

Exercised

(968)

42.48

Forfeited

(643)

57.35

Outstanding at September 30, 2024

12,382

54.09

6.5

$

220,604

Exercisable at September 30, 2024

7,366

52.27

5.2

144,581

Expected to vest at September 30, 2024

5,015

$

56.76

8.4

$

76,022
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:

Nine Months Ended

September 30,

2024

2023

Risk-free interest rate

3.52%

-

4.75%

3.45%

-

4.45%

Expected term (years)

4.7

-

7.5

4.7

-

4.8

Expected volatility

34.0%

-

39.0%

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

28

65.19

Vested

(353)

54.10

Forfeited

(62)

54.10

Outstanding at September 30, 2024

433

$

56.49

2.68
Summary of Performance-Based 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

(9)

54.10

Forfeited

(21)

54.10

Outstanding at September 30, 2024

76

$

53.46

1.91
Stock-based Compensation Schedule

Three Months Ended

Nine Months Ended

September 30,

September 30,

(In thousands)

2024

2023

2024

2023

Stock-based compensation expense

$

12,211

$

9,877

$

42,284

$

27,418

Stock-based compensation expense classified in Acquisition-Related Costs

—

12,878

—

12,878

Net stock-based compensation capitalized into inventory

92

1

144

130

Total stock-based compensation cost

$

12,303

$

22,756

$

42,428

$

40,426