STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and Directors Plan for the years ended December 31:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic value (in thousands)
Outstanding at December 31, 2015	1,097,323		$	32.70	4.8	$	42,154
Granted	94,115		61.39			2,035
Exercised	(83,790	)	25.58			(4,813		)
Canceled	(8,825	)	71.47			(102		)
Outstanding at December 31, 2016	1,098,823		$	35.39	4.3	$	52,332
Granted	65,522		86.91			—
Exercised	(166,838	)	21.37			(10,020		)
Canceled	(13,995	)	76.89			(64		)
Outstanding at December 31, 2017	983,512		$	32.52	4.0	$	40,137
Granted	82,580		77.54			—
Exercised	(582,303	)	28.29			(24,433		)
Canceled	(17,112	)	69.76			(8		)
Outstanding at December 31, 2018	466,677		$	61.04	5.7	$	4,298
Exercisable at December 31, 2018	283,169		$	50.60	4.6	$	5,564

Stock Options Outstanding

Options outstanding at December 31, 2018 were as follows:



	Number of Options	Weighted Average Exercise Price of Options		Weighted Average Remaining Contractual	Number of Options Currently	Weighted Average Exercise Price of Options Currently
Range of exercise prices	Outstanding	Outstanding		Life	Exercisable	Exercisable
Under $35.00	71,765	$	27.84	2.0	71,765	$	27.84
35.00 - 50.00	107,034	41.36		3.6	107,034	41.36
50.00 - 65.00	65,199	61.33		7.1	24,615	61.33
65.00 - 80.00	98,981	72.21		7.6	38,187	72.85
Over 80.00	123,698	88.25		7.5	41,568	86.90
	466,677	$	61.04		283,169	$	50.60

Schedule of Share-Based Fair Value of Each Option Grant Weighted-Average Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:



	For the year ended December 31,
	2018			2017			2016
Dividend yield	0.31		%	0.23		%	0.26		%
Risk-free interest rate	2.8		%	2.2		%	1.5		%
Stock price volatility	23.9		%	23.4		%	26.9		%
Expected life (years)	5.0			5.0			5.0
Weighted average fair value of options granted during the year	$	20.59		$	20.69		$	14.96

Restricted Stock Activity and Incentive Stock Awards Activity

The following table summarizes the restricted stock activity and related information for the 2011 Plan, the 2000 Plan, and Directors Plan, and incentive stock units activity and related information for the 2011 Plan and the 2000 Plan with related information for the years ended December 31:



	Restricted Stock and Units		Incentive Stock Awards		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2015	356,885		541,638		$	65.89
Granted	212,600		167,850		66.03
Vested	(159,975	)	(236,591	)	51.80
Adjustment for incentive stock awards expected to vest	—		(38,164	)	74.42
Canceled	(13,215	)	(9,983	)	71.84
Outstanding at December 31, 2016	396,295		424,750		$	72.18
Granted	153,516		157,025		86.66
Vested	(137,088	)	(153,271	)	70.34
Adjustment for incentive stock awards expected to vest	—		(87,592	)	73.69
Canceled	(13,723	)	(13,579	)	76.61
Outstanding at December 31, 2017	399,000		327,333		$	78.76
Granted	224,060		175,100		73.76
Vested	(148,644	)	(93,312	)	81.55
Adjustment for incentive stock awards expected to vest	—		32,996		74.62
Canceled	(29,327	)	(26,875	)	78.60
Outstanding at December 31, 2018	445,089		415,242		$	75.51