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SHARE-BASED COMPENSATION PLANS AND AWARDS (Tables) | 12 Months Ended
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Dec. 31, 2021
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 2021, 2020, and 2019 are provided in the table below:
Assumptions |  | 2021 |  | 2020 |  | 2019
Expected volatility rate |  | 28.99% |  | 21.56% |  | 19.80%
Expected dividend yield |  | 3.58% |  | 3.30% |  | 2.51%
Average risk-free interest rate |  | 0.95% |  | 0.94% |  | 2.44%
Expected term years |  | 6.0 |  | 5.9 |  | 5.7
Schedule of Activity of Stock Option Awards | A summary of the activity of the Company's stock option awards for 2021, 2020, and 2019 is presented below:
| 2021 |  | 2020 |  | 2019
| Options |  | Weighted-Average Exercise Price |  | Options |  | Weighted-Average Exercise Price |  | Options |  | Weighted-Average Exercise Price
Outstanding at beginning of year | 3,526,600 |  |  | $ | 79 |  |  | 3,479,300 |  |  | $ | 80 |  |  | 2,905,600 |  |  | $ | 79 |
Granted | 449,700 |  |  | 109 |  |  | 622,000 |  |  | 62 |  |  | 786,000 |  |  | 81 |
Exercised | (807,200) |  |  | 77 |  |  | (568,800) |  |  | 64 |  |  | (135,700) |  |  | 67 |
Cancelled, forfeited, or expired | (600) |  |  | 74 |  |  | (5,900) |  |  | 82 |  |  | (76,600) |  |  | 88 |
Outstanding at end of year | 3,168,500 |  |  | $ | 84 |  |  | 3,526,600 |  |  | $ | 79 |  |  | 3,479,300 |  |  | $ | 80 |
Options exercisable at year-end | 2,047,500 |  |  |  |  | 2,192,300 |  |  |  |  | 2,077,600 |  |  |
Available for grant at end of year | 9,866,480 |  |  |  |  | 4,046,748 |  |  |  |  | 6,085,857 |  |  |
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, 2021:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number Outstanding at December 31, 2021 |  | Weighted-Average Remaining Contractual Life (Years) |  | Weighted-Average Exercise Price |  | Number Exercisable at December 31, 2021 |  | Weighted-Average Exercise Price
$61-$70 |  | 843,400 |  | 6.8 |  | $ | 63 |  |  | 420,900 |  | $ | 64 |
$71-$80 |  | 702,800 |  | 4.8 |  | 78 |  |  | 678,800 |  | 78 |
$81-$90 |  | 630,400 |  | 6.5 |  | 83 |  |  | 405,500 |  | 84 |
$91-$109 |  | 991,900 |  | 7.5 |  | 106 |  |  | 542,300 |  | 104 |
|  | 3,168,500 |  | 6.5 |  | $ | 84 |  |  | 2,047,500 |  | $ | 83 |
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, 2021 is presented below:
Nonvested Options |  | Number of Options |  | Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2021 |  | 1,334,300 |  |  | $11.11
Granted |  | 449,700 |  |  | $19.81
Vested |  | (663,000) |  |  | $12.33
Nonvested options at December 31, 2021 |  | 1,121,000 |  |  | $13.88

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -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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