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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2011
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The assumptions used to value the options granted were as follows:

 

      Six Months Ended
June 30,
 
      2011      2010  

Risk-free interest rate

     2.4%         3.3%   

Dividend yield

     1.5%         1.6%   

Expected volatility

     31.7%         30.3%   

Expected life (years)

     5.4            6.5      

Fair value per option

   $  30.87          $  23.84
Schedule of Nonvested Performance-based Units Activity

Nonvested performance-based share units at June 30, 2011, and changes during the six months ended June 30, 2011, were as follows:

 

     Share
    Units    
    Weighted-
Average
Grant Date
Fair Value
 

Nonvested at December 31, 2010

     855,134       $     43.25   

Granted

     82,150       $   109.35   

Vested

     (83,480)      $     58.45   

Forfeited

     (17,500)      $     51.29   
  

 

 

   

Nonvested at June 30, 2011

     836,304       $     48.06   
  

 

 

   
Schedule of Nonvested Performance Based Units Expected to be Issued

The following table identifies the number of shares expected to be issued based on current expectations of performance and the fair value on the date of grant for the nonvested performance-based share units outstanding at June 30, 2011:

 

 Performance Period

   Expected
Number
of Units
to be Issued
     Grant Date
Fair Value
 

 2009-2011

     550,394         $ 27.77    

 2010-2012

     203,900         $ 78.18    

 2011-2013

     82,010         $ 109.35