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SHARE-BASED COMPENSATION AND BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Stock Option Activity

The following is a summary of stock option activity under the 2014 Plan and the 2001 Plan as of and for the year ended December 31, 2019:

		Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Options outstanding at December 31, 2018			504,617			$	151.71
Granted			206,750				162.42
Exercised			(94,525	)			125.11
Forfeited			(28,500	)			160.53
Expired			(3,667	)			162.62
Options outstanding at December 31, 2019			584,675			$	159.34				3.37			$	12,591
Options exercisable at December 31, 2019			95,047			$	150.83				2.42			$	2,879

Summary of Non-Vested Restricted Stock Activity

The following is a summary of non-vested restricted stock activity as of and for the year ended December 31, 2019:

		Shares				Weighted- Average Grant Date Fair Value
Non-vested restricted stock outstanding at December 31, 2018			3,062,602			$	48.72
Granted			173,940				151.58
Vested			(32,000	)			67.54
Forfeited			(12,837	)			148.43
Non-vested restricted stock outstanding at December 31, 2019			3,191,705			$	68.63

Valuation Assumptions Used for Stock Option Awards

The following table presents the weighted-average assumptions used for stock options granted: 

Years Ended December 31,		2019				2018				2017
Expected term in years			4.25				4.25				4.25
Risk-free interest rate			1.64	%			2.69	%			1.77	%
Expected volatility			18.01	%			17.11	%			17.41	%
Expected dividend yield			3.99	%			3.13	%			2.82	%
Grant date fair value		$	14.81			$	20.05			$	17.23

Share-Based Compensation Expense

The following table provides information on share-based compensation expense:

Years Ended December 31,		2019				2018				2017
Stock options		$	2,440			$	2,014			$	1,451
Non-vested restricted stock			14,592				13,494				11,842
Share-based compensation expense		$	17,032			$	15,508			$	13,293

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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