STOCK OWNERSHIP AND COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [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:

	2019	2018	2017
Fair value at grant date	$14.30	$18.14	$15.98
Expected volatility	20.4%	19.1%	19.8%
Dividend yield	2.4%	1.9%	1.9%
Risk-free interest rate	2.5%	2.8%	2.1%
Expected holding period, in years	5.2	5.3	5.2

Summary of Transactions Under The Company's Stock Option Plans

The following summarizes the activity relative to stock option awards for 2019:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Options outstanding, beginning of year	8.4		$	77.35
Options granted	1.8		87.16
Options exercised	(1.8	)	65.03
Options forfeited and canceled	(0.4	)	94.68
Options outstanding, end of year	8.0		$	81.67	6.7	$	202
Exercisable, end of year	5.0		$	74.72	5.5	$	161
Vested and expected to vest, end of year	7.9		$	81.51	6.6	$	200

Summary of Transactions Under Stock Awards Other than Options

The following summarizes the activity relative to stock awards, including restricted stock units and performance share units, for 2019, 2018 and 2017:

	2019				2018				2017
	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	1.1		$	88.13	1.3		$	77.90	1.5		$	63.88
Shares granted	0.4		86.28		0.4		103.51		0.4		96.27
Shares vested	(0.4	)	75.58		(0.5	)	74.00		(0.6	)	57.59
Shares forfeited and canceled	(0.1	)	94.09		(0.1	)	90.16		—		—
Shares outstanding, end of year	1.0		$	93.30	1.1		$	88.13	1.3		$	77.90