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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Expense and Income Tax Benefits Recognized | The following table provides information on share-based compensation expense and related income tax benefits recognized:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (In thousands)
Unvested stock awards |  | $ | 25,509 |  |  | $ | 19,253 |  |  | $ | 17,249 |
Stock option and employee stock purchase plans |  | 4,484 |  |  | 6,575 |  |  | 7,703 |
Share-based compensation expense |  | 29,993 |  |  | 25,828 |  |  | 24,952 |
Income tax benefit |  | (4,728) |  |  | (4,667) |  |  | (4,615) |
Share-based compensation expense, net of tax |  | $ | 25,265 |  |  | $ | 21,161 |  |  | $ | 20,337 |
Schedule of Nonvested Stock Awards | The following is a summary of activity for time-vested and performance-based unvested restricted stock awards as of and for the year ended December 31, 2020:
|  | Time-Vested |  | Performance-Based
|  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value
|  | (In thousands) |  |  |  | (In thousands) |  |
Unvested stock outstanding at January 1 |  | 730 |  | $ | 63.21 |  |  | 374 |  | $ | 67.14 |
Granted |  | 752 |  | 39.39 |  |  | 288 |  | 36.35 |
Vested (1) |  | (243) |  | 64.43 |  |  | (60) |  | 80.43 |
Forfeited (2) |  | (44) |  | 47.78 |  |  | (74) |  | 56.70 |
Unvested stock outstanding at December 31 |  | 1,195 |  | $ | 48.53 |  |  | 528 |  | $ | 32.03 |
_______________ (1) Includes awards attained above target. (2) Includes awards canceled due to employee terminations or performance conditions not being achieved.
Schedule of Weighted-Average Assumptions used for Options Granted | The fair value of each option award is estimated on the date of grant using a Black-Scholes-Merton option-pricing valuation model. We use historical data to estimate stock option forfeitures. The following table presents the weighted-average assumptions used for the valuation, which are primarily based on our historical data and trends, and the grant-date fair value of options granted:
|  |  |  | Years ended December 31,
|  |  |  | 2019 |  | 2018
Expected dividends |  |  |  | 3.7% |  | 2.8%
Expected volatility |  |  |  | 31.4% |  | 29.4%
Risk-free rate |  |  |  | 2.4% |  | 2.7%
Expected term in years |  |  |  | 4.4 years |  | 4.4 years
Grant-date fair value |  |  |  | $ | 11.74 |  |  | $ | 15.89 |
Schedule of Share Purchase and Related Weighted-Average Exercise Price | The following table presents the shares purchased and the related weighted-average purchase price under the ESPP:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
Shares purchased |  | 320,000 |  |  | 228,000 |  |  | 199,000 |
Weighted average purchase price |  | $ | 32.39 |  |  | $ | 47.97 |  |  | $ | 54.89 |

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + 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 (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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