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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | The following table provides information regarding the Company’s stock-based compensation expense:
|  |  | Three months ended March 31,
|  |  |  |  | 2024 |  | 2023
Stock-based compensation |  |  |  |  | $ | 33.6 |  |  | $ | 30.2 |
Tax benefit recognized in net earnings |  |  |  |  | 5.9 |  |  | 5.2 |
Schedule of Weighted Average Assumptions Used to Value Option Grants | The following weighted average assumptions were used to estimate the fair value of options granted during the current and prior year periods using the Black-Scholes option pricing model:
| Three months ended March 31,
| 2024 |  | 2023
Risk-free interest rate (%) | 4.15 |  |  | 3.73 |
Expected option life (years) | 5.73 |  | 5.65
Expected volatility (%) | 25.57 |  |  | 26.02 |
Expected dividend yield (%) | 0.50 |  |  | 0.64 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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