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EQUITY (Tables)
12 Months Ended
Dec. 31, 2019
EQUITY  
Schedule of shares repurchased

Shares

Aggregate Cost

Average

Year ended December 31, 

    

Repurchased

    

(in thousands)

    

Repurchase Price

 

2019

 

3,104

$

162

$

52.37

2018

 

30,427

1,577

51.82

2017

 

201,932

10,636

52.67

Schedule of repurchases of shares from employees to satisfy tax withholding and stock exercise obligations

Aggregate

Shares

Cost

Average

Year ended December 31, 

    

Repurchased

    

(in thousands)

    

Repurchase Price

2019

 

42,703

$

2,419

$

56.65

2018

 

141,180

10,859

76.76

2017

 

32,814

2,348

72.50

Summary of stock option activity

Year Ended December 31, 2019

Weighted Average

Remaining

Number of

Weighted Avg.

Contractual

Aggregate

    

Options

    

Exercise Price

    

Term (Years)

    

Intrinsic Value

 

Outstanding at January 1, 2019

 

42,000

$

48.61

Granted

Forfeited

 

(7,500)

 

52.97

Expired

 

(2,500)

 

52.97

Exercised

 

(17,000)

 

45.39

Outstanding at December 31, 2019

 

15,000

49.34

3.2

$

170,900

Vested and expected to vest at December 31, 2019

 

15,000

49.34

3.2

$

170,900

Exercisable at December 31, 2019

 

15,000

49.34

3.2

$

170,900

Year Ended December 31, 2018

Weighted Average

Remaining

Number of

Weighted Avg.

Contractual

Aggregate

    

Options

    

Exercise Price

    

Term (Years)

    

Intrinsic Value

 

Outstanding at January 1, 2018

 

200,021

$

41.76

Granted

 

 

Exercised

 

(158,021)

 

39.95

Outstanding at December 31, 2018

 

42,000

 

48.61

 

4.1

 

$

823,515

Vested and expected to vest at December 31, 2018

 

42,000

 

48.61

 

4.1

 

$

962,840

Exercisable at December 31, 2018

 

33,250

 

46.76

 

3.0

 

$

823,515

Summary of information relating to options granted and exercised

The following table summarizes information relating to options granted and exercised during the years ended December 31, 2019, 2018 and 2017 (in thousands, except fair value of options granted data):

    

2019

    

2018

    

2017

 

Weighted-average fair value of options granted

$

$

$

13.77

Aggregate intrinsic value of options exercised

 

229

 

5,927

936

Cash proceeds received upon exercise of options

 

 

72

1,030

Excess tax benefits from share-based compensation

 

 

Schedule of weighted-average assumptions using Black-Scholes option-pricing model for estimating fair value of each option granted

2017

Risk-free interest rate

1.79

%  

Expected dividend yield

1.28

%  

Expected life

4.00

years

Expected volatility

34.01

%  

Summary of restricted stock activity

The following table summarizes restricted stock activity during the year ended December 31, 2019:

    

Weighted Avg.

    

Shares

    

Fair Value

 

Unvested as of January 1, 2019

 

200,653

$

65.21

Granted

 

108,278

54.68

Forfeited

 

(18,579)

57.04

Vested and issued

 

(86,206)

65.77

Unvested as of December 31, 2019

 

204,146

$

60.13

The following table summarizes restricted stock activity during the year ended December 31, 2018:

    

Weighted Avg. 

    

Shares

    

Fair Value

 

Unvested as of January 1, 2018

 

214,938

$

68.62

Granted

 

111,474

 

59.52

Forfeited

 

(31,327)

 

66.53

Vested and issued

 

(94,432)

 

66.27

Unvested as of December 31, 2018

 

200,653

$

65.21