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EQUITY COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2020
EQUITY COMPENSATION PLANS |
Summary of stock option activity and average exercise prices | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 | ​ | 2019 |  | 2018 |
​ |  | Number of |  | Exercise | ​ | ​ | Number of | ​ | Exercise | ​ | Number of | ​ | Exercise |
​ | ​ | Options | ​ | Price (a) | ​ |  | Options | ​ | Price (a) | ​ | Options | ​ | Price (a) |
Outstanding, beginning of year |  | 9,042,320 | ​ | ​ | $ 121.72 | ​ | ​ | 10,516,633 | ​ | ​ | $ 108.28 |  | 11,380,013 | ​ | ​ | $ 95.76 | ​
Granted |  | 931,750 | ​ | ​ | 220.95 | ​ | ​ | 879,862 | ​ | ​ | 184.31 |  | 1,202,314 | ​ | ​ | 158.23 | ​
Exercised |  | (2,733,130) | ​ | ​ | 97.52 | ​ | ​ | (2,270,374) | ​ | ​ | 82.93 |  | (1,942,192) | ​ | ​ | 64.63 | ​
Canceled |  | (91,660) | ​ | ​ | 166.67 | ​ | ​ | (83,801) | ​ | ​ | 143.08 |  | (123,502) | ​ | ​ | 127.02 | ​
Separation of ChampionX |  | (346,865) | ​ | ​ | 126.37 | ​ | ​ | - | ​ | ​ | - |  | - | ​ | ​ | - | ​
Outstanding, end of year |  | 6,802,415 | ​ | ​ | $ 144.20 | ​ | ​ | 9,042,320 | ​ | ​ | $ 121.72 |  | 10,516,633 | ​ | ​ | $ 108.28 | ​
Exercisable, end of year |  | 5,051,927 | ​ | ​ | $ 125.08 | ​ | ​ | 7,048,422 | ​ | ​ | $ 109.34 |  | 7,993,297 | ​ | ​ | $ 97.13 | ​
Vested and expected to vest, end of year |  | 6,697,614 | ​ | ​ | $ 143.25 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (a) | Represents weighted average price per share.
​
Weighted-average grant-date fair value of options granted and significant assumptions used in determining the underlying fair value of each option grant | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 | ​ | 2018
Weighted-average grant-date fair value of options | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
granted at market prices | ​ | ​ | $ 44.16 | ​ | ​ | ​ | $ 40.30 | ​ | ​ | ​ | $ 37.34 | ​
Assumptions | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Risk-free rate of return | ​ | ​ | 0.5 | % | ​ | ​ | 1.6 | % | ​ |  | 2.8 | %
Expected life |  |  | 6 | years | ​ |  | 6 | years | ​ |  | 6 | years
Expected volatility | ​ | ​ | 23.0 | % | ​ | ​ | 23.0 | % | ​ |  | 22.5 | %
Expected dividend yield | ​ | ​ | 0.9 | % | ​ | ​ | 1.0 | % | ​ |  | 1.2 | %
​
Summary of non-vested PBRSU awards and restricted stock activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | PBRSU | ​ | Grant Date | ​ | RSAs and | ​ | Grant Date
​ | ​ | Awards | ​ | Fair Value (a) | ​ | RSUs | ​ | Fair Value (a)
December 31, 2017 |  | 1,362,836 | ​ | ​ | ​ | $ 115.24 | ​ |  | 249,402 | ​ | ​ | ​ | $ 116.66 | ​
Granted |  | 284,104 | ​ | ​ | ​ | 152.59 | ​ | ​ | 109,074 | ​ | ​ | ​ | 138.69 | ​
Vested / Earned |  | (324,561) | ​ | ​ | ​ | 103.15 | ​ | ​ | (92,032) | ​ | ​ | ​ | 113.03 | ​
Canceled |  | (55,026) | ​ | ​ | ​ | 114.25 | ​ | ​ | (19,975) | ​ | ​ | ​ | 115.05 | ​
December 31, 2018 |  | 1,267,353 | ​ | ​ | ​ | $ 126.75 | ​ |  | 246,469 | ​ | ​ | ​ | $ 127.09 | ​
Granted |  | 207,704 | ​ | ​ | ​ | 178.20 | ​ | ​ | 102,941 | ​ | ​ | ​ | 177.38 | ​
Vested / Earned |  | (334,351) | ​ | ​ | ​ | 114.38 | ​ | ​ | (64,597) | ​ | ​ | ​ | 119.08 | ​
Canceled |  | (23,808) | ​ | ​ | ​ | 135.70 | ​ | ​ | (19,300) | ​ | ​ | ​ | 124.77 | ​
December 31, 2019 |  | 1,116,898 | ​ | ​ | ​ | $ 139.83 | ​ |  | 265,513 | ​ | ​ | ​ | $ 149.46 | ​
Granted | ​ | 202,187 | ​ | ​ | ​ | 215.23 | ​ | ​ | 62,693 | ​ | ​ | ​ | 203.09 | ​
Vested / Earned | ​ | (333,676) | ​ | ​ | ​ | 112.78 | ​ | ​ | (81,150) | ​ | ​ | ​ | 130.72 | ​
Canceled | ​ | (26,285) | ​ | ​ | ​ | 157.32 | ​ | ​ | (15,996) | ​ | ​ | ​ | 162.51 | ​
Separation of ChampionX | ​ | (44,494) | ​ | ​ | ​ | 142.10 | ​ | ​ | (67,377) | ​ | ​ | ​ | 161.82 | ​
December 31, 2020 | ​ | 914,630 | ​ | ​ | ​ | $ 165.76 | ​ |  | 163,683 | ​ | ​ | ​ | $ 172.92 | ​
​
| (a) | Represents weighted average price per share.

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