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STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Weighted-Average Assumptions and Fair Values Used of Performance Units Granted
The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in the nine months ended September 30, 2025 and 2024 are as follows:
20252024
Risk-free interest rate3.86 %4.45 %
Expected volatility28.39 %27.00 %
Weighted-average fair value of units granted
$94.54 $157.37 
Share payout98.13 %102.18 %
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions
The fair value of each option granted is estimated using a Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in the nine months ended September 30, 2025 and 2024 are as follows:
20252024
Expected dividend yield5.21 %3.96 %
Risk-free interest rate4.08 %4.25 %
Expected life (in years)6.116.13
Expected volatility30.35 %28.94 %
Weighted-average fair value of options granted
$18.72 $34.76