v3.26.1
Stock-Based Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Awards
A summary of the Company’s stock option activity for the six month period ended June 30, 2026 is presented in the following table (underlying shares in thousands).
SharesWeighted-Average Exercise Price (per share)
Stock options outstanding as of December 31, 20254,314 $49.83 
Granted612 93.66 
Exercised or settled(787)22.49 
Forfeited(40)84.89 
Expired(9)85.11 
Stock options outstanding as of June 30, 20264,090 61.23 
Vested as of June 30, 20262,435 45.15 
Schedule of Fair Value Assumptions
The following assumptions were used to estimate the fair value of options granted during the six month periods ended June 30, 2026 and 2025 using the Black-Scholes option-pricing model.
For the Six Month Period Ended June 30,
Assumptions20262025
Expected life of options (in years)
6.3
6.3 - 7.5
Risk-free interest rate
3.7% - 4.2%
4.1% - 4.2%
Assumed volatility
34.0% - 34.4%
34.2% - 34.3%
Expected dividend rate0.1 %0.1 %
The following assumptions were used to estimate the fair value of performance stock units granted during the six month periods ended June 30, 2026 and 2025 using the Monte Carlo simulation pricing model.
For the Six Month Period Ended June 30,
Assumptions20262025
Expected term (in years)
2.9
2.8
Risk-free interest rate
3.4%
4.0%
Assumed volatility
28.9%
28.6%
Expected dividend rate0.1 %0.1 %
Schedule of Restricted Stock Unit Activity A summary of the Company’s restricted stock unit activity for the six month period ended June 30, 2026 is presented in the following table (underlying shares in thousands).
SharesWeighted-Average Grant-Date Fair Value
Non-vested as of December 31, 2025892 $80.55 
Granted345 91.07 
Vested(294)76.49 
Forfeited(47)84.72 
Non-vested as of June 30, 2026896 85.71 
Schedule of Performance Stock Unit Activity
A summary of the Company’s performance stock unit activity for the six month period ended June 30, 2026 is presented in the following table (underlying shares in thousands).
SharesWeighted-Average Grant-Date Fair Value
Non-vested as of December 31, 20251,347 $54.67 
Granted182 114.87 
Change in units based on performance8 75.52 
Vested(129)75.52 
Non-vested as of June 30, 20261,408 60.67