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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three months ended March 31, 2021 and 2020 was as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
Cost of sales |  |  |  |  | $ | 5.5 |  |  | $ | 4.6 |
Selling, general, and administrative expenses |  |  |  |  | 16.5 |  |  | 14.4 |
Research and development expenses |  |  |  |  | 6.2 |  |  | 4.9 |
Total stock-based compensation expense |  |  |  |  | 28.2 |  |  | 23.9 |
Income tax benefit |  |  |  |  | (3.9) |  |  | (3.5) |
Total stock-based compensation expense, net of tax |  |  |  |  | $ | 24.3 |  |  | $ | 20.4 |
Schedule of Weighted-Average Assumptions for Options Granted | 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,
|  |  |  |  | 2021 |  | 2020
Average risk-free interest rate |  |  |  |  | 0.6 | % |  | 1.4 | %
Expected dividend yield |  |  |  |  | None |  | None
Expected volatility |  |  |  |  | 33.4 | % |  | 29.7 | %
Expected term (years) |  |  |  |  | 5.2 |  | 5.2
Fair value, per option |  |  |  |  | $ | 26.28 |  |  | $ | 22.79 |
Schedule of Weighted-Average Assumptions for ESPP Subscriptions Granted | 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,
|  |  |  |  | 2021 |  | 2020
Average risk-free interest rate |  |  |  |  | 0.1 | % |  | 1.6 | %
Expected dividend yield |  |  |  |  | None |  | None
Expected volatility |  |  |  |  | 37.5 | % |  | 31.9 | %
Expected term (years) |  |  |  |  | 0.6 |  | 0.6
Fair value, per share |  |  |  |  | $ | 22.14 |  |  | $ | 15.71 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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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- 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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