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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2011
STOCK-BASED COMPENSATION  
Weighted-average assumptions used to estimate fair value of stock options granted

 

   
 
 
Stock Awards Plans:
Years ended December 31,
  2011
  2010
  2009
 
 
 

Dividend Yield

    1.7%     1.8%     1.6%  

Expected Stock Price Volatility

    23.3%     22.7%     24.2%  

Risk-free Interest Rate

    2.7%     3.6%     2.2%  

Expected Life of Option (years)

    6.9     6.9     6.9  

    

   
 
 
Director Stock Option Plans:
Years ended December 31,
  2011
  2010
  2009
 
 
 

Dividend Yield

    1.6%     1.7%     1.7%  

Expected Stock Price Volatility

    22.9%     22.6%     24.9%  

Risk-free Interest Rate

    2.5%     3.4%     3.1%  

Expected Life of Option (years)

    6.9     6.9     6.9  
Summary of option activity

 

 

   
 
 
 
  Stock Awards Plans   Director Stock Option Plans  
 
  Shares

  Weighted Average
Exercise Price

  Shares

  Weighted Average
Exercise Price

 
 
 

Outstanding, January 1, 2011

    8,208,736   $ 28.91     219,000   $ 30.40  

Granted

    1,284,150     48.21     85,500     51.26  

Exercised

    (1,128,656 )   21.28     (34,500 )   22.79  

Forfeited or expired

    (18,313 )   37.00          
               

Outstanding at December 31, 2011

    8,345,917   $ 32.90     270,000   $ 37.98  
                   

Exercisable at December 31, 2011

    5,862,872   $ 29.22     125,836   $ 29.15  
                   

Weighted-Average Remaining Contractual Term (Years):

                         

Outstanding at December 31, 2011

    5.9                 7.0  

Exercisable at December 31, 2011

    4.7                 5.0  

Aggregate Intrinsic Value:

                         

Outstanding at December 31, 2011

  $ 158,585               $ 3,831  

Exercisable at December 31, 2011

  $ 132,307               $ 2,896  

Intrinsic Value of Options Exercised During the Years Ended:

                         

December 31, 2011

  $ 32,782               $ 970  

December 31, 2010

  $ 31,217               $ 1,151  

December 31, 2009

  $ 10,916               $  
Summary of restricted stock unit activity

 

 

   
 
 
 
  Shares
  Weighted-Average
Grant-Date Fair Value

 
 
 

Nonvested at January 1, 2011

    22,303   $ 34.71  

Granted

    5,035     49.63  

Vested

    (10,045 )   34.44  
       

Nonvested at December 31, 2011

    17,293   $ 39.21