STOCK OWNERSHIP AND COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Assumptions Used in Valuing The Company's Stock Options

The weighted average assumptions used in valuing stock options granted in the periods presented were:

	2018	2017	2016
Fair value at grant date	$18.14	$15.98	$10.35
Expected volatility	19.1%	19.8%	21.6%
Dividend yield	1.9%	1.9%	2.4%
Risk-free interest rate	2.8%	2.1%	1.4%
Expected holding period, in years	5.3	5.2	5.3

Summary of Transactions Under The Company's Stock Option Plans

The following summarizes the activity relative to stock option awards for 2018:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Options outstanding, beginning of year	8.5		$	70.11
Options granted	1.6		103.56
Options exercised	(1.6	)	63.08
Options forfeited and canceled	(0.1	)	93.51
Options outstanding, end of year	8.4		$	77.35	6.7	$	102
Exercisable, end of year	5.1		$	67.17	5.6	$	90
Vested and expected to vest, end of year	8.3		$	76.98	6.6	$	102

Summary of Transactions Under Stock Awards Other than Options

The following summarizes the activity relative to stock awards, including restricted stock awards, restricted stock units and performance share units, for 2018, 2017 and 2016:

	2018				2017				2016
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Shares outstanding, beginning of year	1.3		$	77.90	1.5		$	63.88	1.7		$	59.92
Shares granted	0.4		103.51		0.4		96.27		0.6		67.26
Shares vested	(0.5	)	74.00		(0.6	)	57.59		(0.4	)	58.98
Shares forfeited and canceled	(0.1	)	90.16		—		—		(0.4	)	57.31
Shares outstanding, end of year	1.1		$	88.13	1.3		$	77.90	1.5		$	63.88