SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Authorized Number of Shares

The 2012 Stock Plan authorized 2,400,000 shares for issuance as follows:

2012 Stock Plan	Authorized Shares
Stock Options	1,680,000
Stock/Stock Unit Awards	720,000

No additional options and awards are granted out of the 2012 Stock Plan. However, there are still unvested awards and unexercised options under this plan.

Schedule of Assumptions Used to Determine the Fair Value of Options Granted

The table below provides the weighted average grant-date fair values and key assumptions used for the Black-Scholes model to determine the fair value of options granted during 2023, 2022, and 2021:

	2023			2022			2021
Risk-free interest rate	4.02		%	1.87		%	0.66		%
Dividend yield	0.95		%	0.93		%	0.96		%
Volatility factor	33.81		%	33.88		%	34.98		%
Expected term	6.0 years			5.5 years			5.5 years
Weighted average grant-date fair value of options	$	34.51		$	26.05		$	21.70

Schedule of Stock Option Plans Activity

A summary of the Company’s outstanding stock option activity and related information is as follows:

(Shares in thousands)	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (000’s)
Stock Options
Outstanding at beginning of 2023	1,040	$	52.91
Granted	77	94.87
Exercised	(216)	42.54
Forfeited	(1)	84.78
Expired	—	—
Outstanding at end of 2023	900	$	58.96	4.97 years	$	33,933
Expected to vest after applying forfeiture rate	899	$	58.91	4.97 years	$	33,924
Vested and exercisable at end of period	736	$	52.86	4.22 years	$	32,238

(In millions)	2023		2022		2021
Intrinsic value of options exercised	$	11.6	$	3.7	$	20.7
Cash received from the exercise of options	9.2		3.9		15.5
Fair value of shares vested	3.1		3.1		3.9
Tax benefit of options exercised	2.9		0.9		5.1

Schedule of Restricted Stock/Stock Unit Award Activity

A summary of the Company’s restricted stock/stock unit award activity and related information is as follows:

(Shares in thousands)	Shares	Weighted-Average Grant- Date Fair Value
Restricted Stock/Stock Unit Awards
Non-vested at beginning of 2023	264	$	72.90
Awarded	138	87.31
Vested	(128)	62.16
Forfeited	(15)	87.30
Non-vested at end of 2023	259	$	85.05