STOCK COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Disclosure of Share Based Compensation Arrangements by Share Based Payment Awards

hanges in options outstanding under the plans for the period indicated were as follows:

	Number of Options	Weighted-Average Exercise Price per Option	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2022	0.5	169.31
Granted	0.1	219.83
Outstanding at December 31, 2023	0.6	174.45	6.0	$	32.2
Exercisable at December 31, 2023	0.5	159.05	5.4	$	31.3

Disclosure of the Impact of Stock Options Exercised

Cash received by the Company from option exercises, the actual tax benefit realized for the tax deductions and the aggregate intrinsic value of options exercised from option exercises under all share-based payment arrangements during the years ended December 31, 2023, 2022, and 2021 were as follows:

	2023		2022		2021
Cash received by the Company	$	2.9	$	7.1	$	6.8
Tax benefits realized	$	0.7	$	1.8	$	1.7
Aggregate intrinsic value	$	0.7	$	8.2	$	13.4

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table shows the weighted average grant-date fair values of options issued during the respective year and the weighted average assumptions that the Company used to develop the fair value estimates:

	2023			2022			2021
Fair value per option	$	72.27		$	68.35		$	55.75
Weighted average expected life (in years)	6.0			6.0			6.0
Risk free interest rate	3.4		%	2.0		%	0.6		%
Expected volatility	29.8		%	28.6		%	28.6		%
Expected dividend yield	1.4		%	0.9		%	N/A

The Company uses the Black-Scholes model to calculate the fair value of the employee’s purchase right. The fair value of the employee’s purchase right and the assumptions used in its calculation are as follows:

	2023		2022		2021
Fair value of the employee’s purchase right	$	49.19	$	62.50	$	59.89
Valuation assumptions
Risk free interest rate	5.0%		1.3%		0.1%
Expected volatility	0.3		0.3		0.3
Expected dividend yield	1.4%		0.9%		—%

Schedule of Nonvested Share Activity

The following table shows a summary of non-vested shares for the year ended December 31, 2023:

	Number of Shares	Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2023	1.1	$	231.30
Granted	0.5	224.11
Vested	(0.5)	208.71
Canceled	(0.1)	235.27
Non-vested at December 31, 2023	1.0	$	248.41