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SHARE-BASED COMPENSATION AND BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Stock Option Activity

The following is a summary of stock option activity under the 2014 Plan as of and for the year ended December 31, 2020:

		Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Options outstanding at December 31, 2019			584,675			$	159.34
Granted			161,500				207.60
Exercised			(135,809	)			146.90
Forfeited			(25,250	)			175.76
Options outstanding at December 31, 2020			585,116			$	174.83				3.22			$	30,729
Options exercisable at December 31, 2020			89,697			$	161.15				2.27			$	5,866

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, 2020:

		Shares				Weighted- Average Grant Date Fair Value
Non-vested restricted stock outstanding at December 31, 2019			3,191,705			$	68.63
Granted			184,265				193.89
Vested			(37,274	)			108.36
Forfeited			(3,589	)			164.94
Non-vested restricted stock outstanding at December 31, 2020			3,335,107			$	75.00

Valuation Assumptions Used for Stock Option Awards

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

Years Ended December 31,		2020				2019				2018
Expected term in years			4.25				4.25				4.25
Risk-free interest rate			0.26	%			1.64	%			2.69	%
Expected volatility			20.89	%			18.01	%			17.11	%
Expected dividend yield			3.69	%			3.99	%			3.13	%
Grant date fair value		$	20.76			$	14.81			$	20.05

Share-Based Compensation Expense

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

Years Ended December 31,		2020				2019				2018
Stock options		$	2,447			$	2,440			$	2,014
Non-vested restricted stock			19,682				14,592				13,494
Share-based compensation expense		$	22,129			$	17,032			$	15,508

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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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