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STOCK OWNERSHIP AND COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Assumptions Used in Valuing The Company's Stock Options | The weighted average assumptions used in valuing stock options granted in the periods presented were:
| 2018 |  | 2017 |  | 2016
Fair value at grant date | $18.14 |  | $15.98 |  | $10.35
Expected volatility | 19.1% |  | 19.8% |  | 21.6%
Dividend yield | 1.9% |  | 1.9% |  | 2.4%
Risk-free interest rate | 2.8% |  | 2.1% |  | 1.4%
Expected holding period, in years | 5.3 |  | 5.2 |  | 5.3
Summary of Transactions Under The Company's Stock Option Plans | The following summarizes the activity relative to stock option awards for 2018:
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Options outstanding, beginning of year | 8.5 |  |  | $ | 70.11 |  |  |  |  |
Options granted | 1.6 |  |  | 103.56 |  |  |  |  |
Options exercised | (1.6 | ) |  | 63.08 |  |  |  |  |
Options forfeited and canceled | (0.1 | ) |  | 93.51 |  |  |  |  |
Options outstanding, end of year | 8.4 |  |  | $ | 77.35 |  |  | 6.7 |  | $ | 102 |
Exercisable, end of year | 5.1 |  |  | $ | 67.17 |  |  | 5.6 |  | $ | 90 |
Vested and expected to vest, end of year | 8.3 |  |  | $ | 76.98 |  |  | 6.6 |  | $ | 102 |
Summary of Transactions Under Stock Awards Other than Options | The following summarizes the activity relative to stock awards, including restricted stock awards, restricted stock units and performance share units, for 2018, 2017 and 2016:
| 2018 |  | 2017 |  | 2016
| Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value
Shares outstanding, beginning of year | 1.3 |  |  | $ | 77.90 |  |  | 1.5 |  |  | $ | 63.88 |  |  | 1.7 |  |  | $ | 59.92 |
Shares granted | 0.4 |  |  | 103.51 |  |  | 0.4 |  |  | 96.27 |  |  | 0.6 |  |  | 67.26 |
Shares vested | (0.5 | ) |  | 74.00 |  |  | (0.6 | ) |  | 57.59 |  |  | (0.4 | ) |  | 58.98 |
Shares forfeited and canceled | (0.1 | ) |  | 90.16 |  |  | — |  |  | — |  |  | (0.4 | ) |  | 57.31 |
Shares outstanding, end of year | 1.1 |  |  | $ | 88.13 |  |  | 1.3 |  |  | $ | 77.90 |  |  | 1.5 |  |  | $ | 63.88 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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