STOCK COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2016

Stock Options Fair Value Assumptions

The weighted-average Black-Scholes assumptions used in estimating the fair value of stock options granted during the period, along with the weighted-average grant-date fair values, were as follows.

	Three months ended March 31,
	2016			2015
Expected volatility		20	%		20	%
Expected life (in years)		5.5			5.5
Risk-free interest rate		1.4	%		1.7	%
Dividend yield		1.2	%		3.0	%
Fair value per stock option		$7			$9