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SHARE-BASED COMPENSATION AND BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Stock Option Activity

The following is a summary of stock option activity under the 2021 Plan and the 2014 Plan as of and for the year ended December 31, 2021:

		Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Options outstanding at December 31, 2020			585,116			$	174.83
Granted			163,550				276.41
Exercised			(130,178	)			157.50
Forfeited			(15,500	)			208.77
Expired			(500	)			146.09
Options outstanding at December 31, 2021			602,488			$	205.30				3.11			$	64,816
Options exercisable at December 31, 2021			105,665			$	168.77				1.95			$	15,227

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, 2021:

		Shares				Weighted- Average Grant Date Fair Value
Non-vested restricted stock outstanding at December 31, 2020			3,335,107			$	75.00
Granted			194,643				254.73
Vested			(13,000	)			138.97
Forfeited			(57,089	)			131.31
Non-vested restricted stock outstanding at December 31, 2021			3,459,661			$	83.94

Valuation Assumptions Used for Stock Option Awards

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

Years Ended December 31,		2021				2020				2019
Expected term in years			4.25				4.25				4.25
Risk-free interest rate			0.79	%			0.26	%			1.64	%
Expected volatility			21.85	%			20.89	%			18.01	%
Expected dividend yield			2.97	%			3.69	%			3.99	%
Grant date fair value		$	34.79			$	20.76			$	14.81

Share-Based Compensation Expense

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

Years Ended December 31,		2021				2020				2019
Stock options		$	2,908			$	2,447			$	2,440
Non-vested restricted stock			22,457				19,682				14,592
Share-based compensation expense		$	25,365			$	22,129			$	17,032

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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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