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STOCK-BASED COMPENSATION | 3 Months Ended
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Mar. 31, 2020
Share-based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three months ended March 31, 2020 and 2019 was as follows (in millions):
| Three Months Ended March 31,
| 2020 |  | 2019
Cost of sales | $ | 4.6 |  |  | $ | 4.0 |
Selling, general, and administrative expenses | 14.4 |  |  | 12.7 |
Research and development expenses | 4.9 |  |  | 4.1 |
Total stock-based compensation expense | $ | 23.9 |  |  | $ | 20.8 |
At March 31, 2020, the total remaining compensation cost related to nonvested stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and employee stock purchase plan ("ESPP") subscription awards amounted to $119.1 million, which will be amortized on a straight-line basis over the weighted-average remaining requisite service period of 28 months. Fair Value Disclosures The following table includes the weighted-average grant-date fair values of stock options granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model:
Option Awards | Three Months Ended March 31,
| 2020 |  | 2019
Average risk-free interest rate | 1.4 | % |  | 2.5 | %
Expected dividend yield | None |  |  | None |
Expected volatility | 29.7 | % |  | 29.2 | %
Expected term (years) | 5.2 |  |  | 5.2 |
Fair value, per option | $ | 68.36 |  |  | $ | 54.03 |
The following table includes the weighted-average grant-date fair values for ESPP subscriptions granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model:
ESPP | Three Months Ended March 31,
| 2020 |  | 2019
Average risk-free interest rate | 1.6 | % |  | 2.4 | %
Expected dividend yield | None |  |  | None |
Expected volatility | 31.9 | % |  | 25.3 | %
Expected term (years) | 0.6 |  |  | 0.6 |
Fair value, per share | $ | 47.14 |  |  | $ | 48.83 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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