SHARE-BASED COMPENSATION PLANS AND AWARDS (Tables)

12 Months Ended

Dec. 31, 2017

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 2017, 2016, and 2015 are provided in the table below:



Assumptions	2017	2016	2015
Expected volatility rate	20.45%	23.71%	24.11%
Expected dividend yield	2.64%	2.31%	1.75%
Average risk-free interest rate	1.91%	1.23%	1.45%
Expected term years	5.0	5.0	4.8

Schedule of Activity of Stock Option Awards

A summary of the activity of the Company's stock option awards for 2017, 2016, and 2015 is presented below:



	2017				2016				2015
	Options		Weighted-Average Exercise Price		Options		Weighted-Average Exercise Price		Options		Weighted-Average Exercise Price
Outstanding at beginning of year	2,363,700		$	61	2,434,600		$	53	2,209,800		$	46
Granted	745,800		80		554,000		65		512,700		74
Exercised	(489,300	)	44		(618,500	)	33		(271,200	)	30
Cancelled, forfeited, or expired	(6,100	)	74		(6,400	)	77		(16,700	)	77
Outstanding at end of year	2,614,100		$	70	2,363,700		$	61	2,434,600		$	53
Options exercisable at year-end	1,335,500				1,378,000				1,643,100
Available for grant at end of year	9,943,033				3,807,724				5,413,250

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, 2017:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding at December 31, 2017	Weighted-Average Remaining Contractual Life (Years)	Weighted-Average Exercise Price		Number Exercisable at December 31, 2017	Weighted-Average Exercise Price
$18-$35	62,500	1.7	$	27	62,500	$	27
$36-$50	271,500	3.2	39		271,500	39
$51-$73	823,300	7.1	67		454,000	68
$74-$87	1,456,800	8.0	79		547,500	80
	2,614,100	7.1	$	70	1,335,500	$	65

Schedule of Summary of Status of Nonvested Options

A summary of the changes in the Company's nonvested options during the year ended December 31, 2017 is presented below:



Nonvested Options	Number of Options		Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2017	985,700		$12.56
Granted	745,800		$11.79
Vested	(446,800	)	$13.36
Forfeited or expired	(6,100	)	$13.89
Nonvested options at December 31, 2017	1,278,600		$11.82