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STOCK INCENTIVE AND STOCK OPTION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Option, Activity | The table below summarizes the employee share-based activity in the Plan:
|  | Options |  | Weighted-average Exercise Price |  | Weighted-average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in millions)
Balance at December 31, 2018 |  | 3,243,662 |  |  | $ | 130.55 |  |  |  |  |
Granted |  | 710,120 |  |  | 163.42 |  |  |  |  |
Exercised |  | (652,980) |  |  | 116.76 |  |  |  |  |
Forfeited |  | (63,232) |  |  | 139.86 |  |  |  |  |
Balance at December 31, 2019 |  | 3,237,570 |  |  | 140.36 |  |  |  |  |
Granted |  | 632,080 |  |  | 142.81 |  |  |  |  |
Exercised |  | (660,786) |  |  | 131.25 |  |  |  |  |
Forfeited |  | (33,334) |  |  | 150.83 |  |  |  |  |
Balance at December 31, 2020 |  | 3,175,530 |  |  | 142.63 |  |  |  |  |
Granted |  | 16,550 |  |  | 232.44 |  |  |  |  |
Exercised |  | (400,154) |  |  | 138.93 |  |  |  |  |
Forfeited |  | (48,828) |  |  | 153.72 |  |  |  |  |
Balance at December 31, 2021 |  | 2,743,098 |  |  | $ | 143.51 |  |  | 5.8 |  | $ | 205 |
Exercisable, December 31, 2019 |  | 1,665,710 |  |  | $ | 123.55 |  |  | 4.8 |  | $ | 92 |
Exercisable, December 31, 2020 |  | 1,589,015 |  |  | $ | 130.28 |  |  | 4.6 |  | $ | 151 |
Exercisable, December 31, 2021 |  | 1,629,588 |  |  | $ | 136.74 |  |  | 4.4 |  | $ | 133 |
Schedule of Nonvested Share Activity | The weighted-average grant date fair value of performance and restricted shares was as follows:
|  | Performance Shares |  | Restricted Shares
Nonvested |  | Shares |  | Weighted-average Fair Value |  | Shares |  | Weighted-average Fair Value
Balance at December 31, 2018 |  | 410,350 |  |  | $ | 126.36 |  |  | 5,393 |  |  | $ | 117.68 |
Granted |  | 185,377 |  |  | 141.01 |  |  | — |  |  | — |
Vested |  | (176,613) |  |  | 98.28 |  |  | (2,696) |  |  | 117.68 |
Forfeited |  | (23,183) |  |  | 145.26 |  |  | — |  |  | — |
Balance at December 31, 2019 |  | 395,931 |  |  | 144.64 |  |  | 2,697 |  |  | 117.68 |
Granted |  | 260,480 |  |  | 132.57 |  |  | 3,704 |  |  | 165.04 |
Vested |  | (268,773) |  |  | 138.27 |  |  | (2,697) |  |  | 117.68 |
Forfeited |  | (10,684) |  |  | 144.22 |  |  | — |  |  | — |
Balance at December 31, 2020 |  | 376,954 |  |  | 140.85 |  |  | 3,704 |  |  | 165.04 |
Granted |  | 217,684 |  |  | 234.22 |  |  | 26,224 |  |  | 265.41 |
Vested |  | (131,744) |  |  | 146.55 |  |  | — |  |  | — |
Forfeited |  | (22,745) |  |  | 171.91 |  |  | — |  |  | — |
Balance at December 31, 2021 |  | 440,149 |  |  | $ | 183.72 |  |  | 29,928 |  |  | $ | 252.99 |
Schedule of Share-based Payment Award,s for Performance and Restricted shares - Assumptions | The fair value of each option grant was estimated on the grant date using the Black-Scholes option pricing model with the following assumptions:
|  | 2021 |  | 2020 |  | 2019
Expected life (years) |  | 6 |  | 6 |  | 6
Risk-free interest rate |  | 1.15 | % |  | 0.62 | % |  | 2.41 | %
Expected volatility |  | 28.68 | % |  | 27.05 | % |  | 23.79 | %
Dividend yield |  | 2.95 | % |  | 2.88 | % |  | 2.68 | %

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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