STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2011

STOCK-BASED COMPENSATION PLANS [Abstract]

Long-term share-based incentive program stock activity

Activity in this long-term incentive program is as follows:

	Stock Options
		Weighted-average
		Exercise Price of
	Outstanding	Shares
Outstanding at December 31, 2009	3,082,815	$20.22
Granted	352,365	19.49
Exercised	(411,507)	17.09
Forfeited	(46,781)	21.27
Outstanding at December 31, 2010	2,976,892	20.55
Granted	274,828	27.36
Exercised	(282,930)	17.97
Forfeited	(21,575)	20.58
Outstanding at December 31, 2011	2,947,215	$21.43
Exercisable at December 31, 2011	2,199,737	$21.44

Stock options outstanding and range of exercise price

The following table summarizes the information about stock options outstanding under the Company's stock option plan at December 31, 2011:

	Options outstanding			Options exercisable
Range of Exercise Price	Shares	Weighted-average Exercise Price	Weighted- average Remaining Life (years)	Shares	Weighted-average Exercise Price
$0.00 – $18.00	428,377	$16.84	4.20	428,377	$16.84
$18.001 – $23.00	1,272,667	19.64	6.48	741,585	20.12
$23.001 – $28.00	1,246,171	24.83	4.76	1,029,775	24.30
TOTAL	2,947,215	$21.43	5.42	2,199,737	$21.44

Summary of valuation assumptions used to value stock options

The Black-Scholes model requires several assumptions, which management developed based on historical trends and current market observations.

	2011	2010	2009
Weighted-average Fair Value of Options Granted	$6.69	$5.56	$4.66
Assumptions:
Weighted-average expected life (in years)	7.72	7.68	7.77
Future dividend yield	3.90%	3.00%	3.00%
Share price volatility	32.12%	32.03%	30.66%
Weighted-average risk-free interest rate	3.34%	3.66%	2.86%

Unvested stock awards activity

A summary of the status of the Company's unvested restricted stock awards as of December 31, 2011, and changes during the twelve months ended December 31, 2011 and 2010, is presented below:

	Restricted  Shares	Weighted-average  grant date fair value
Unvested at December 31, 2009	174,008	$18.90
Awards	173,341	18.34
Forfeitures	(9,284)	18.17
Vestings	(53,479)	19.19
Unvested at December 31, 2010	284,586	18.53
Awards	54,958	27.36
Forfeitures	(9,061)	18.91
Vestings	(60,842)	19.40
Unvested at December 31, 2011	269,641	$20.12