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SHARE-BASED COMPENSATION PLANS AND AWARDS (Tables)

12 Months Ended

Dec. 31, 2023

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 2023, 2022, and 2021 are provided in the table below:

Assumptions						2023						2022						2021
Expected volatility rate						30.55%						28.98%						28.99%
Expected dividend yield						3.31%						2.57%						3.58%
Average risk-free interest rate						4.13%						2.35%						0.95%
Expected term years						6.4						6.4						6.0

Schedule of Activity of Stock Option Awards

A summary of the activity of the Company's stock option awards for 2023, 2022, and 2021 is presented below:

			2023												2022												2021
			Options						Weighted-Average Exercise Price						Options						Weighted-Average Exercise Price						Options						Weighted-Average Exercise Price
Outstanding at beginning of year			3,479,200						$	88					3,168,500						$	84					3,526,600						$	79
Granted			409,300						$	85					443,100						$	113					449,700						$	109
Exercised			(38,200)						$	68					(122,700)						$	74					(807,200)						$	77
Cancelled, forfeited, or expired			(26,300)						$	94					(9,700)						$	87					(600)						$	74
Outstanding at end of year			3,824,000						$	88					3,479,200						$	88					3,168,500						$	84
Options exercisable at year-end			2,974,100												2,534,400												2,047,500
Available for grant at end of year			6,698,702												8,355,640												9,866,480

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, 2023:

						Options Outstanding																		Options Exercisable
Range of Exercise Prices						Number Outstanding at  December 31, 2023						Weighted-Average Remaining Contractual Life (Years)						Weighted-Average Exercise Price						Number Exercisable at December 31, 2023						Weighted-Average Exercise Price
$61-$75						1,002,500						4.3						$	65					1,002,500						$	65
$76-$90						1,491,000						5.7						$	82					1,027,600						$	82
$91-$105						530,400						4.2						$	104					530,400						$	104
$106-$121						800,100						7.6						$	114					413,600						$	113
						3,824,000						5.5						$	88					2,974,100						$	85

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, 2023 is presented below:

Nonvested Options						Number of Options						Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2023						944,800						$20.50
Granted						409,300						$21.67
Vested						(497,800)						$16.96
Cancelled, forfeited, or expired						(6,400)						$23.42
Nonvested options at December 31, 2023						849,900						$23.12

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Tabular disclosure of the changes in outstanding nonvested shares.

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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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