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SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2023

SHARE-BASED COMPENSATION PLANS

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

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​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Assumptions:		2023			2022			2021
Risk-free interest rate		​	4.1	%	​	1.5	%	​	0.6	%
Expected dividend yield		​	4.1	%	​	3.7	%	​	3.8	%
Volatility (1)		​	26.00	%	​	25.00	%	​	25.00	%
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	​	$	7.90	​	$	8.83	​	$	4.62	​
Term	​	​	10.0	years	​	10.0	years	​	10.0	years

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(1) Expected volatility is based upon the Company’s historical daily share prices.

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(2) The expected life is based on the contractual term of the options as well as the weighted average vesting period.

Summary of option activity

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​	​	​	​	​	​	​	​	​
​	​	Options	​	Weighted Average Strike Price		​	Weighted Average Remaining Contractual Term (Years)
Balance at December 31, 2022		2,537,038	​	$	33.10	​	6.21	​
Options granted		408,650	​	​	40.25	​	9.00	​
Options canceled		(38,296)	​	​	44.17	​	8.44	​
Options exercised		(144,233)	​	​	18.83	​	1.66	​
Balance at December 31, 2023		2,763,159	​	$	34.75	​	5.95	​
​	​	​	​	​	​	​	​	​
Vested or expected to vest at December 31, 2023		2,763,159	​	$	34.75		5.95	​
Exercisable at December 31, 2023		1,972,708	​	$	31.40		5.02	​

Schedule of non-vested restricted share activity

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​	​	​	​
​		Number of Non-
​	​	Vested Restricted
​	​	Shares and Performance Units
Non-Vested at January 1, 2023		340,952	​
Granted		190,540	​
Vested		(155,468)	​
Forfeited		(15,495)	​
Non-Vested at December 31, 2023		360,529	​

Schedule of estimation of the fair value of the awards, the key assumptions

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​	​	​	​	​	​	​	​	​	​	​
Assumptions:		2023			2022			2021
Risk-free interest rate		​	4.2	%	​	1.0	%	​	0.2	%
Volatility (1)		​	32.00	%	​	28.00	%	​	28.00	%

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Tabular disclosure of the changes in outstanding nonvested shares.

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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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