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SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2017

SHARE-BASED COMPENSATION PLANS

Schedule of assumptions used for estimating the fair value of share options using the Black-Scholes option-pricing model

Assumptions:		2017			2016			2015
Risk-free interest rate			2.2	%		1.8	%		1.5	%
Expected dividend yield			3.5	%		2.7	%		2.6	%
Volatility (1)			33.00	%		33.00	%		33.00	%
Weighted average expected life of the options (2)			6.0	years		6.0	years		6.0	years
Weighted average grant date fair value of options granted per share		$	6.12		$	7.61		$	6.23

(1) Expected volatility is based upon the level of volatility historically experienced.

(2) Expected life is based upon our expectations of share option recipients’ expected exercise and termination patterns.

Summary of option activity

							Weighted Average
		Number of Shares		Weighted Average			Remaining
		Under Option		Strike Price			Contractual Term
Balance at December 31, 2014		3,692,301		$	11.76		4.16
Options granted		202,485			25.00		9.08
Options canceled		(18,230)			19.75		—
Options exercised		(1,454,612)			11.31		2.38
Balance at December 31, 2015		2,421,944		$	13.07		4.08
Options granted		213,008			30.32		9.07
Options exercised		(695,262)			18.69		0.29
Balance at December 31, 2016		1,939,690		$	12.94		4.85
Options granted		289,104			26.30		9.07
Options exercised		(395,621)			5.98		1.14
Balance at December 31, 2017		1,833,173		$	16.55		5.26
Vested or expected to vest at December 31, 2017		1,833,173		$	16.55		5.26
Exercisable at December 31, 2017		1,337,280		$	12.58		4.04

Schedule of non-vested restricted share activity

		Number of Non-
		Vested Restricted
		Shares and Share Units
Non-Vested at January 1, 2017		323,022
Granted		165,709
Vested		(130,500)
Forfeited		(5,769)
Non-Vested at  December 31, 2017		352,462

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Tabular disclosure of the changes in outstanding nonvested shares.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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-Publisher FASB
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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.

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