STOCK-BASED COMPENSATION - Assumptions Used to Estimate Fair Value of Stock Options Granted (Details) - $ / shares |
12 Months Ended | ||
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Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
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| Share-Based Payment Arrangement [Abstract] | |||
| Dividend yield (as a percent) | 0.80% | 0.70% | 1.00% |
| Expected volatility (as a percent) | 33.10% | 31.50% | 28.50% |
| Risk-free interest rate (as a percent) | 3.90% | 2.40% | 0.50% |
| Expected term (in years) | 4 years 9 months 18 days | 5 years | 4 years 9 months 18 days |
| Weighted-average fair value of stock options granted (in dollars per share) | $ 63.70 | $ 59.70 | $ 39.63 |
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- References No definition available.
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- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Expected term of award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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