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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2018
INCOME TAXES |
Schedule of reconciliation of cash dividends paid with the dividends paid deduction | The following table reconciles cash dividends paid with the dividends paid deduction for the years indicated (amounts in thousands):
|  | 2018 |  | 2017 |  | 2016
|  | Estimate |  | Actual |  | Actual
Dividends paid |  | $ | 34,652 |  | $ | 32,393 |  | $ | 29,135
Dividend reinvestment plan (a) |  |  | 314 |  |  | 252 |  |  | 181
|  |  | 34,966 |  |  | 32,645 |  |  | 29,316
Less: Spillover dividends designated to previous year |  |  | (10,263) |  |  | (11,916) |  |  | (15,209)
Less: Spillover dividends designated to following year (b) |  |  | (285) |  |  | — |  |  | —
Plus: Dividends designated from following year |  |  | — |  |  | 10,263 |  |  | 11,916
Dividends paid deduction |  | $ | 24,418 |  | $ | 30,992 |  | $ | 26,023
| (a) |  | Reflects the up to 5% discount on common stock purchased through the dividend reinvestment plan.
| (b) |  | A portion of the dividend paid in January 2019 will be considered a 2019 dividend, as it was in excess of the Company's earnings and profits through December 31, 2018.

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