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STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Weighted-Average Assupmtions and Fair Values Used of Performance Units Granted The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in 2022 and 2021 are as follows:
20222021
Risk-free interest rate2.33 %0.19 %
Expected volatility31.91 %30.70 %
Weighted-average fair value of RPUs granted $228.72 $168.05 
Share payout107.41 %102.39 %
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions The fair value of each option granted is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in 2022 and 2021 are as follows:
20222021
Expected dividend yield2.35 %3.31 %
Risk-free interest rate2.39 %0.84 %
Expected life (in years)7.57.5
Expected volatility25.04 %23.15 %
Weighted-average fair value of options granted$48.45 $23.71