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STOCK PLANS (Tables) | 12 Months Ended
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Dec. 31, 2020
STOCK PLANS |
Summary of stock option activity | The following table summarizes stock option activity for the year ended December 31, 2020 under all Plans: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | Number of | ​ | Exercise
​ |  | Options |  | Price
Balance at beginning of year |  | 1,318,290 | ​ | $ | 71.25
Options granted |  | 222,589 | ​ |  | 89.63
Options exercised |  | (298,814) | ​ |  | 57.44
Options canceled | ​ | (1,360) | ​ | ​ | 54.76
Options forfeited | ​ | (60,944) | ​ | ​ | 89.35
Balance at end of year |  | 1,179,761 | ​ |  | 77.31
Exercisable at end of year |  | 843,927 | ​ |  | 72.50
Weighted average assumptions used for estimating fair value of options granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018 |
Expected volatility |  | ​ | 25.80 | % | ​ | 25.98 | % | ​ | 25.36 | %
Dividend yield |  | ​ | 2.51 | % | ​ | 2.42 | % | ​ | 1.92 | %
Risk-free interest rate |  | ​ | 1.41 | % | ​ | 2.49 | % | ​ | 2.69 | %
Expected option life (years) |  | ​ | 4.7 |  | ​ | 4.6 |  | ​ | 4.6 | ​
Weighted average fair value per option granted during the year | ​ | $ | 15.97 | ​ | $ | 17.46 | ​ | $ | 18.97 | ​
Summary of nonvested stock options | The following table summarizes non-vested stock options for the year ended December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | Number of | ​ | Fair Value at
​ |  | Options |  | Grant Date
Balance at beginning of year |  | 374,575 | ​ | $ | 17.93
Granted |  | 222,589 | ​ |  | 15.97
Vested |  | (199,026) | ​ |  | 17.91
Canceled | ​ | (1,360) | ​ | ​ | 15.77
Forfeited | ​ | (60,944) | ​ | ​ | 16.69
Balance at end of year |  | 335,834 | ​ |  | 16.88
Summary of information about awards outstanding, by exercise price range | The following table summarizes information about awards outstanding as of December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Outstanding | ​ | Exercisable
​ | ​ | ​ | ​ | Weighted | ​ | Weighted | ​ | ​ | ​ | Weighted | ​ | Weighted
​ | ​ | Number of | ​ | Average | ​ | Average | ​ | Number of | ​ | Average | ​ | Average
​ | ​ | Stock | ​ | Exercise | ​ | Remaining | ​ | Stock | ​ | Exercise | ​ | Remaining
Exercise Price Range |  | Options |  | Price |  | Life (years) |  | Options |  | Price |  | Life (years)
Under $49.99 |  | 66,475 | ​ | $ | 43.28 |  | 1.50 |  | 66,475 | ​ | $ | 43.28 |  | 1.50
$50.00 - $59.99 |  | 171,225 | ​ |  | 58.13 |  | 5.10 |  | 171,225 | ​ |  | 58.13 |  | 5.10
Over $60.00 |  | 942,061 | ​ |  | 83.19 |  | 6.50 |  | 606,227 | ​ |  | 79.76 |  | 5.40
​ |  | 1,179,761 | ​ | ​ | ​ |  | 6.00 |  | 843,927 | ​ | ​ | ​ |  | 5.00
Summary of RSU and PSU activity | The following table summarizes RSU and PSU activity for the year ended December 31, 2020 under all Plans: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | Number of | ​ | Grant Date
​ |  | Units |  | Fair Value
Balance at beginning of year |  | 481,129 | ​ | $ | 85.58
Units granted |  | 184,936 | ​ |  | 93.38
Units vested |  | (212,430) | ​ |  | 82.77
Units forfeited |  | (42,146) | ​ |  | 88.58
Balance at end of year |  | 411,489 | ​ |  | 90.23

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