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SHARE-BASED COMPENSATION PLANS AND AWARDS (Tables) | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Assumptions Used in the Determination of Fair Value of Stock Options Awarded | The weighted average assumptions used in the determination of fair value for stock options awarded in 2016, 2015, and 2014 are provided in the table below:
Assumptions |  | 2016 |  | 2015 |  | 2014
Expected volatility rate |  | 23.71% |  | 24.11% |  | 25.82%
Expected dividend yield |  | 2.31% |  | 1.75% |  | 1.70%
Average risk-free interest rate |  | 1.23% |  | 1.45% |  | 1.44%
Expected term years |  | 5.0 |  | 4.8 |  | 4.7
Schedule of Activity of Stock Option Awards | A summary of the activity of the Company's stock option awards for 2016, 2015, and 2014 is presented below:
| 2016 |  | 2015 |  | 2014
| Options |  | Weighted-Average Exercise Price |  | Options |  | Weighted-Average Exercise Price |  | Options |  | Weighted-Average Exercise Price
Outstanding at beginning of year | 2,434,600 |  |  | $ | 53 |  |  | 2,209,800 |  |  | $ | 46 |  |  | 2,359,100 |  |  | $ | 39 |
Granted | 554,000 |  |  | 65 |  |  | 512,700 |  |  | 74 |  |  | 272,100 |  |  | 86 |
Exercised | (618,500 | ) |  | 33 |  |  | (271,200 | ) |  | 30 |  |  | (419,300 | ) |  | 31 |
Cancelled, forfeited, or expired | (6,400 | ) |  | 77 |  |  | (16,700 | ) |  | 77 |  |  | (2,100 | ) |  | 55 |
Outstanding at end of year | 2,363,700 |  |  | $ | 61 |  |  | 2,434,600 |  |  | $ | 53 |  |  | 2,209,800 |  |  | $ | 46 |
Options exercisable at year-end | 1,378,000 |  |  |  |  | 1,643,100 |  |  |  |  | 1,726,800 |  |  |
Available for grant at end of year | 3,807,724 |  |  |  |  | 5,413,250 |  |  |  |  | 7,271,093 |  |  |
Schedule of Remaining Contractual Term and Weighted Average Exercise Price of Stock Options Outstanding and Exercisable | The following table provides the remaining contractual term and weighted average exercise prices of stock options outstanding and exercisable at December 31, 2016:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number Outstanding at December 31, 2016 |  | Weighted-Average Remaining Contractual Life (Years) |  | Weighted-Average Exercise Price |  | Number Exercisable at December 31, 2016 |  | Weighted-Average Exercise Price
$18-$35 |  | 119,600 |  | 2.2 |  | $ | 28 |  |  | 119,600 |  | $ | 28 |
$36-$50 |  | 617,600 |  | 4.2 |  | 39 |  |  | 617,600 |  | 39 |
$51-$73 |  | 867,300 |  | 8.1 |  | 67 |  |  | 313,300 |  | 70 |
$74-$87 |  | 759,200 |  | 7.9 |  | 78 |  |  | 327,500 |  | 80 |
|  | 2,363,700 |  | 6.7 |  | $ | 61 |  |  | 1,378,000 |  | $ | 55 |
Schedule of Summary of Status of Nonvested Options | A summary of the status of the Company's nonvested options as of December 31, 2016 and changes during the year then ended is presented below:
Nonvested Options |  | Number of Options |  | Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2016 |  | 791,500 |  |  | $15.17
Granted |  | 554,000 |  |  | $10.97
Vested |  | (353,400 | ) |  | $15.88
Forfeited or expired |  | (6,400 | ) |  | $14.57
Nonvested options at December 31, 2016 |  | 985,700 |  |  | $12.56

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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