Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense under the Company’s plans was as follows:
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2020 2019 2020 2019
Stock-based compensation expense $ 15,729  $ 13,169  $ 42,500  $ 39,467 
Tax effect on stock-based compensation expense (4,011) (3,438) (10,837) (10,305)
Net effect on income $ 11,718  $ 9,731  $ 31,663  $ 29,162 
Schedule of weighted average assumptions used to value options granted
The following weighted average assumptions were used to value options granted during the periods indicated:
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2020 2019 2020 2019
Grant date fair value of options $ —  $ —  $ —  $ 21.55 
Volatility —  % —  % —  % 40.0  %
Risk-free interest rate —  % —  % —  % 2.5  %
Dividend yield —  % —  % —  % —  %
Expected term (in years) 0.0 0.0 0.0 6.5
Summary of option activity under the company's plans
The following table summarizes option activity under the Company’s plans:
      Weighted-Average  
    Weighted- Remaining  
    Average Contractual Life Aggregate
  Options Exercise Price (Years) Intrinsic Value
Outstanding as of December 31, 2019 1,150,586  $ 25.66  3.4 $ 50,590 
Granted —  — 
Exercised (587,121) 18.02   
Forfeited (7,213) 48.70   
Outstanding as of September 30, 2020
556,252  33.44  3.9 24,324 
Options exercisable 516,073  $ 32.22  3.5 $ 23,191 
Summary of the activity for unvested restricted stock units and awards granted under the Company's plans
The following is a summary of the activity for unvested restricted stock units and performance stock units granted under the Company’s plans:
RSUs PSUs
  Number of
Shares
Weighted-
Average Grant
Date Fair Value
per Share
Number of
Shares
Weighted-
Average Grant
Date Fair Value
per Share
Outstanding as of December 31, 2019 1,318,870  $ 58.88  254,118  $ 67.96 
Granted 956,494  74.55  67,793  81.42 
Vested (677,129) 57.51  —  — 
Forfeited (120,421) 61.04  (33,010) 64.70 
Outstanding as of September 30, 2020
1,477,814  69.48  288,901  71.49