EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2018

EMPLOYEE BENEFITS

Schedule of stock option activity

The following tables summarize option activity in 2018, 2017 and 2016:

				Weighted
		Weighted		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Options	Exercise		Contractual	Value
	Outstanding	Price		Life	(in 000’s)
Outstanding options at January 1, 2018	2,257,015	$	46.80
Options granted	432,000	$	64.91
Options exercised	(705,785)	$	36.81		$	24,304
Options canceled/forfeited	(18,350)	$	60.84
Outstanding options at December 31, 2018	1,964,880	$	54.24	5.25	$	29,317
Exercisable options at December 31, 2018	724,730	$	46.62	3.79	$	16,212

				Weighted
		Weighted		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Options	Exercise		Contractual	Value
	Outstanding	Price		Life	(in 000’s)
Outstanding options at January 1, 2017	2,207,110	$	40.90
Options granted	482,375	$	57.12
Options exercised	(390,870)	$	26.07		$	12,779
Options canceled/forfeited	(41,600)	$	48.30
Outstanding options at December 31, 2017	2,257,015	$	46.80	4.88	$	32,620
Exercisable options at December 31, 2017	975,055	$	38.66	3.25	$	21,780

				Weighted
		Weighted		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Options	Exercise		Contractual	Value
	Outstanding	Price		Life	(in 000’s)
Outstanding options at January 1, 2016	2,582,220	$	32.42
Options granted	440,750	$	63.54
Options exercised	(756,380)	$	24.87		$	31,328
Options canceled/forfeited	(59,480)	$	44.39
Outstanding options at December 31, 2016	2,207,110	$	40.90	4.93	$	49,531
Exercisable options at December 31, 2016	862,605	$	31.23	3.27	$	27,523

Schedule of stock option assumptions for fair value estimate

	2018			2017			2016
Weighted-average fair value of grants	$	10.58		$	8.00		$	11.38
Risk-free interest rates		2.72	%		1.90	%		1.21	%
Dividend yield		2.98	%		3.60	%		1.61	%
Expected volatility		22.87	%		22.95	%		23.06	%
Expected option life		5.07	years		5.05	years		5.04	years