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Stock Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock Based Compensation Expense | The following table provides information regarding the Company’s stock-based compensation expense:
| Three Months Ended March 31, |  |
| 2021 |  | 2020 |  |  |  |
Stock-based compensation | $ | 32.9 |  |  | $ | 27.7 |  |  |  |  |
Tax effect recognized in net earnings | 6.9 |  |  | 5.8 |  |  |  |  |
Weighted Average Assumptions Used to Value Option Grants | The following weighted average assumptions were used to estimate the fair value of options granted during current and prior year periods using the Black-Scholes option-pricing model:
| Three months ended March 31,
| 2021 |  | 2020
Risk-free interest rate (%) | 0.94 |  |  | 0.83 |
Expected option life (years) | 5.61 |  | 5.64
Expected volatility (%) | 25.16 |  |  | 20.18 |
Expected dividend yield (%) | 0.56 |  |  | 0.62 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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