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SHARE-BASED COMPENSATION PLANS AND AWARDS (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [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 2019, 2018, and 2017 are provided in the table below:

Assumptions		2019		2018		2017
Expected volatility rate		19.80%		19.03%		20.45%
Expected dividend yield		2.51%		2.48%		2.64%
Average risk-free interest rate		2.44%		2.61%		1.91%
Expected term years		5.7		5.1		5.0

Schedule of Activity of Stock Option Awards

A summary of the activity of the Company's stock option awards for 2019, 2018, and 2017 is presented below:

	2019							2018							2017
	Options			Weighted-Average Exercise Price				Options			Weighted-Average Exercise Price				Options			Weighted-Average Exercise Price
Outstanding at beginning of year	2,905,600			$	79			2,614,100			$	70			2,363,700			$	61
Granted	786,000			81				619,700			104				745,800			80
Exercised	(135,700	)		67				(323,000	)		55				(489,300	)		44
Cancelled, forfeited, or expired	(76,600	)		88				(5,200	)		78				(6,100	)		74
Outstanding at end of year	3,479,300			$	80			2,905,600			$	79			2,614,100			$	70
Options exercisable at year-end	2,077,600							1,606,800							1,335,500
Available for grant at end of year	6,085,857							8,174,614							9,943,033

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, 2019:

		Options Outstanding								Options Exercisable
Range of Exercise Prices		Number Outstanding at December 31, 2019		Weighted-Average Remaining Contractual Life (Years)		Weighted-Average Exercise Price				Number Exercisable at December 31, 2019			Weighted-Average Exercise Price
$38-$50		176,700		1.5		$	39			176,700			$	39
$51-$73		720,500		5.9		67				625,100			66
$74-$89		1,985,100		7.1		81				1,076,800			79
$90-$104		597,000		8.2		104				199,000	—		104
		3,479,300		6.8		$	80			2,077,600			$	74

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, 2019 is presented below:

Nonvested Options		Number of Options			Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2019		1,298,800			$13.63
Granted		786,000			$13.12
Vested		(608,200	)		$12.89
Cancelled, forfeited, or expired		(74,900	)		$13.43
Nonvested options at December 31, 2019		1,401,700			$13.68

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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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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