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STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
STOCK-BASED COMPENSATION PLANS |
Schedule of activity in this long-term incentive program | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Stock Options
​ | ​ | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | average Exercise
​ |  | Outstanding |  | Price of Shares
Outstanding at December 31, 2021 |  | 1,392,705 | ​ | $ | 50.73
Granted |  | 173,313 | ​ |  | 71.78
Exercised |  | (67,566) | ​ |  | 41.61
Forfeited |  | (13,430) | ​ |  | 67.88
Outstanding at December 31, 2022 |  | 1,485,022 | ​ |  | 53.45
Granted |  | 252,974 | ​ |  | 54.06
Exercised |  | (71,559) | ​ |  | 34.27
Forfeited |  | (24,583) | ​ |  | 60.84
Outstanding at December 31, 2023 |  | 1,641,854 | ​ |  | 54.27
Exercisable at December 31, 2023 |  | 1,100,927 | ​ | $ | 50.60
​
Schedule of information about stock options outstanding under the Company's stock option plan | The following table summarizes the information about stock options outstanding under the Company’s stock option plan at December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options outstanding | ​ | Options exercisable
​ | ​ | ​ | ​ | Weighted- | ​ | Weighted- | ​ | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | average | ​ | average | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | Exercise | ​ | Remaining | ​ | ​ | ​ | Exercise
Range of Exercise Price |  | Shares |  | Price |  | Life (years) |  | Shares |  | Price
$0.00 – $26.00 |  | 40,002 | ​ | $ | 23.04 |  | 3.00 |  | 40,002 | ​ | $ | 23.04
$26.01 – $36.00 |  | 127,342 | ​ |  | 35.36 |  | 1.21 |  | 127,342 | ​ |  | 35.36
$36.01 – $46.00 |  | 249,063 | ​ |  | 37.95 |  | 1.61 |  | 249,063 | ​ |  | 37.95
$46.01 – $56.00 |  | 620,331 | ​ |  | 53.68 |  | 6.90 |  | 305,167 | ​ |  | 53.86
$56.01 – $81.00 |  | 605,116 | ​ |  | 67.63 |  | 6.13 |  | 379,353 | ​ |  | 64.30
TOTAL |  | 1,641,854 | ​ | $ | 54.27 |  | 5.23 |  | 1,100,927 | ​ | $ | 50.60
​
Schedule of valuation assumptions used to estimate value of stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
Weighted-average Fair Value of Options Granted | ​ | $ | 14.93 | ​ | $ | 17.86 | ​ | $ | 18.43 | ​
Assumptions: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Weighted-average expected life (in years) | ​ |  | 6.50 | ​ |  | 6.50 | ​ |  | 6.50 | ​
Future dividend yield | ​ |  | 2.48 | % |  | 2.41 | % |  | 2.48 | %
Share price volatility | ​ |  | 29.72 | % |  | 29.88 | % |  | 30.09 | %
Weighted-average risk-free interest rate | ​ |  | 3.74 | % |  | 2.16 | % |  | 1.28 | %
Schedule of activity unvested restricted stock awards | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Restricted | ​ | Weighted-average
​ |  | Shares |  | grant date fair value
Unvested at December 31, 2021 |  | 129,448 | ​ | $ | 64.32
Awards |  | 56,871 | ​ |  | 71.58
Forfeitures |  | (2,940) | ​ |  | 67.44
Vestings |  | (49,859) | ​ |  | 62.86
Unvested at December 31, 2022 |  | 133,520 | ​ |  | 67.89
Awards |  | 70,338 | ​ |  | 54.03
Forfeitures |  | (2,648) | ​ |  | 60.56
Vestings |  | (51,647) | ​ |  | 65.55
Unvested at December 31, 2023 |  | 149,563 | ​ | $ | 62.31
​
Schedule of performance restricted shares and weighted-average grant date fair value | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Performance | ​ | ​ | ​
​ | ​ | Restricted | ​ | Weighted-average
​ |  | Shares |  | grant date fair value
Unvested at December 31, 2021 |  | 47,820 | ​ | $ | 29.71
Awards |  | 35,815 | ​ |  | 34.93
Forfeitures |  | (51,000) | ​ |  | 30.02
Vestings |  | (636) | ​ |  | 35.89
Unvested at December 31, 2022 |  | 31,999 | ​ |  | 34.93
Awards |  | 52,588 | ​ |  | 25.36
Forfeitures |  | (2,874) | ​ |  | 34.93
Vestings |  | (575) | ​ |  | 34.93
Unvested at December 31, 2023 |  | 81,138 | ​ | $ | 27.15

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