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STOCK PLANS (Tables) | 12 Months Ended
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Dec. 31, 2021
STOCK PLANS |
Summary of stock option activity | The following table summarizes stock option activity for the year ended December 31, 2021 under all Plans: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | Number of | ​ | Exercise
​ |  | Options |  | Price
Balance at beginning of year |  | 1,179,761 | ​ | $ | 77.31
Options granted |  | 179,184 | ​ |  | 114.27
Options exercised |  | (287,449) | ​ |  | 66.91
Options canceled | ​ | (630) | ​ | ​ | 59.19
Options forfeited | ​ | (2,642) | ​ | ​ | 89.51
Balance at end of year |  | 1,068,224 | ​ |  | 86.28
Exercisable at end of year |  | 726,972 | ​ |  | 78.93
Weighted average assumptions used for estimating fair value of options granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019 |
Expected volatility |  | ​ | 28.01 | % | ​ | 25.80 | % | ​ | 25.98 | %
Dividend yield |  | ​ | 2.17 | % | ​ | 2.51 | % | ​ | 2.42 | %
Risk-free interest rate |  | ​ | 0.55 | % | ​ | 1.41 | % | ​ | 2.49 | %
Expected option life (years) |  | ​ | 4.7 |  | ​ | 4.7 |  | ​ | 4.6 | ​
Weighted average fair value per option granted during the year | ​ | $ | 21.70 | ​ | $ | 15.97 | ​ | $ | 17.46 | ​
Summary of nonvested stock options | The following table summarizes non-vested stock options for the year ended December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | Number of | ​ | Fair Value at
​ |  | Options |  | Grant Date
Balance at beginning of year |  | 335,835 | ​ | $ | 16.88
Granted |  | 179,184 | ​ |  | 21.70
Vested |  | (170,494) | ​ |  | 17.50
Canceled | ​ | (2,642) | ​ | ​ | 16.12
Forfeited | ​ | (630) | ​ | ​ | 15.56
Balance at end of year |  | 341,253 | ​ |  | 19.11
Summary of information about awards outstanding, by exercise price range | The following table summarizes information about awards outstanding as of December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 |  | 28,287 | ​ | $ | 47.83 |  | 0.90 |  | 28,287 | ​ | $ | 47.83 |  | 0.90
$50.00 - $59.99 |  | 132,756 | ​ |  | 58.12 |  | 4.10 |  | 132,756 | ​ |  | 58.12 |  | 4.10
Over $60.00 |  | 907,181 | ​ |  | 91.60 |  | 6.80 |  | 565,928 | ​ |  | 85.37 |  | 5.70
​ |  | 1,068,224 | ​ | ​ | ​ |  | 6.30 |  | 726,971 | ​ | ​ | ​ |  | 5.20
Summary of RSU and PSU activity | The following table summarizes RSU and PSU activity for the year ended December 31, 2021 under all Plans: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | Number of | ​ | Grant Date
​ |  | Units |  | Fair Value
Balance at beginning of year |  | 411,489 | ​ | $ | 90.23
Units granted |  | 134,363 | ​ |  | 118.76
Units vested |  | (132,113) | ​ |  | 93.16
Units forfeited |  | (9,913) | ​ |  | 94.70
Balance at end of year |  | 403,826 | ​ |  | 98.65

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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