Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.23.2
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 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:
2023 2022
Risk-free interest rate 3.81  % 2.35  %
Expected volatility 30.30  % 31.92  %
Fair value of RPUs granted $ 199.95  $ 227.00 
Share payout 107.80  % 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:
2023 2022
Expected dividend yield 3.54  % 2.35  %
Risk-free interest rate 3.70  % 2.39  %
Expected life (in years) 5.93 7.50
Expected volatility 28.31  % 25.04  %
Fair value of options granted $ 41.08  $ 48.45