STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of changes in unvested restricted stock

The following is a summary of changes in unvested restricted stock:

	RSAs		Weighted-Average Price
Unvested shares at December 31, 2016	146,975		$	29.18
2017 Activity:
Granted	103,955		33.80
Vested	(98,750	)	28.09
Unvested shares at December 31, 2017	152,180		$	33.04

Summary of SARS Activity

The following is a summary of the 2017 activity:

	SARs		Weighted- Average Price
Outstanding SARs at December 31, 2016	2,310,000		$	19.23
2017 Activity:
Granted	500,000		35.70
Exercised	(200,000	)	15.78
Outstanding SARs at December 31, 2017	2,610,000		$	22.65

Schedule of assumptions used to estimate the value of stock options under ESPP

Our SARs and stock options were valued using the Black-Scholes pricing model utilizing the following assumptions:

	2017		2016		2015
Risk-free interest rate	2.1	%	1.2% - 1.9%		1.3% - 1.9%
Expected years to exercise	5 years		5 years		5 years
Expected volatility	37.0	%	37.5% - 42.1%		42.1% - 47.0%
Annual dividend yield	2.0	%	2.1	%	2.0% - 2.7%