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STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Weighted-Average Assumptions 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 2023 and 2022 are as follows:
20232022
Risk-free interest rate3.81 %2.35 %
Expected volatility30.30 %31.92 %
Weighted-average fair value of RPUs granted $200.01 $227.00 
Share payout107.80 %107.37 %
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 a Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in 2023 and 2022 are as follows:
20232022
Expected dividend yield3.54 %2.35 %
Risk-free interest rate3.70 %2.39 %
Expected life (in years)5.937.5
Expected volatility28.31 %25.04 %
Weighted-average fair value of options granted$41.08 $48.45