STOCK-BASED AWARDS (Tables)

3 Months Ended

Mar. 31, 2025

Stock option activity during the three months ended March 31, 2025 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, 2024	10,959		55.47
Granted	1,687		90.62
Exercised	(309)		39.87
Forfeited	(121)		58.23
Outstanding at March 31, 2025	12,216		60.68	6.9	$	186,067
Exercisable at March 31, 2025	7,042		54.04	5.4		137,012
Expected to vest at March 31, 2025	5,174	$	69.70	8.9	$	49,056

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:


	Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2024	416	$	57.05
Granted	5		88.28
Vested	(98)		54.10
Forfeited	(10)		54.10
Outstanding at March 31, 2025	313	$	58.56	3.05


	Performance-Based Restricted Stock ‎Units (thousands)	Weighted ‎average ‎grant date fair value ‎per share		Weighted ‎average ‎remaining ‎contractual ‎life (years)
Outstanding at December 31, 2024	67	$	53.57
Granted	—		—
Vested	(2)		54.10
Forfeited	(12)		54.10
Outstanding at March 31, 2025	53	$	53.24	1.64



	Three Months Ended
	March 31,
(In thousands)	2025		2024
Stock-based compensation expense	$	13,206	$	17,260
Net stock-based compensation capitalized into inventory		118		21
Total stock-based compensation cost	$	13,324	$	17,281