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SHARE-BASED COMPENSATION PLANS AND AWARDS (Tables)

12 Months Ended

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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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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