STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2020

STOCK BASED COMPENSATION

Schedule of stock option activity

The following tables summarize option activity for the three-month periods ended March 31, 2020 and 2019:

				Weighted
		Weighted		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Options	Exercise		Contractual	Value
	Outstanding	Price		Life	(in 000’s)
Outstanding options at January 1, 2020	1,667,290	$	62.52
Options granted	30,375		94.62
Options exercised	(56,725)		49.23		$	2,516
Options canceled/forfeited	(300)		58.60
Outstanding options at March 31, 2020	1,640,640	$	63.58	5.10	$	40,778
Exercisable options at March 31, 2020	614,040	$	54.68	3.75	$	20,438
				Weighted
		Weighted		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Options	Exercise		Contractual	Value
	Outstanding	Price		Life	(in 000’s)
Outstanding options at January 1, 2019	1,964,880	$	54.24
Options granted	40,750		66.16
Options exercised	(50,580)		33.71		$	1,795
Options canceled/forfeited	(19,100)		57.28
Outstanding options at March 31, 2019	1,935,950	$	55.00	5.14	$	32,589
Exercisable options at March 31, 2019	702,250	$	47.84	3.73	$	16,794

Schedule of stock option assumptions for fair value estimate

	2020			2019
Weighted-average fair value of grants	$	14.48		$	11.35
Risk-free interest rates		1.54	%		2.94	%
Dividend yield		2.69	%		2.98	%
Expected volatility		22.68	%		22.84	%
Expected option life		4.99	years		5.11	years