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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
SHARE-BASED COMPENSATION PLANS |
Schedule of assumptions used for estimating the fair value of share options using the Black-Scholes option-pricing model | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assumptions: |  | 2022 |  | 2021 |  | 2020 |
Risk-free interest rate |  | ​ | 1.5 | % | ​ | 0.6 | % | ​ | 1.9 | %
Expected dividend yield |  | ​ | 3.7 | % | ​ | 3.8 | % | ​ | 3.9 | %
Volatility (1) |  | ​ | 25.00 | % | ​ | 25.00 | % | ​ | 20.00 | %
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 | ​ | $ | 8.83 | ​ | $ | 4.62 | ​ | $ | 3.66 | ​
Term | ​ | ​ | 10.0 | years | ​ | 10.0 | years | ​ | 10.0 | years
​
| (1) | Expected volatility is based upon the Company’s historical daily share prices.
​
| (2) | The expected life is based on the contractual term of the options as well as the vesting period.
​
Summary of option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options | ​ | Weighted Average Strike Price | ​ | Weighted Average Remaining Contractual Term (Years) |
Balance at December 31, 2021 |  | 2,263,804 | ​ | $ | 29.63 | ​ | 6.82 | ​
Options granted |  | 324,840 | ​ | ​ | 56.91 | ​ | 9.01 | ​
Options exercised |  | (51,606) | ​ | ​ | 30.80 | ​ | 7.29 | ​
Balance at December 31, 2022 |  | 2,537,038 | ​ | $ | 33.10 | ​ | 6.21 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Vested or expected to vest at December 31, 2022 |  | 2,537,038 | ​ | $ | 33.10 |  | 6.21 | ​
Exercisable at December 31, 2022 |  | 1,636,544 | ​ | $ | 28.42 |  | 5.14 | ​
​
Schedule of non-vested restricted share activity | ​
​ | ​ | ​ | ​
​ |  | Number of Non- |
​ | ​ | Vested Restricted |
​ | ​ | Shares and Performance Units |
Non-Vested at January 1, 2022 |  | 387,701 | ​
Granted |  | 126,304 | ​
Vested |  | (164,228) | ​
Forfeited |  | (8,825) | ​
Non-Vested at December 31, 2022 |  | 340,952 | ​
​
Schedule of estimation of the fair value of the awards, the key assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assumptions: |  | 2022 |  | 2021 |  | 2020 |
Risk-free interest rate |  | ​ | 1.0 | % | ​ | 0.2 | % | ​ | 1.7 | %
Volatility (1) |  | ​ | 28.00 | % | ​ | 28.00 | % | ​ | 19.00 | %
​
| (1) | Expected volatility is based upon the Company’s historical daily share prices.

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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