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STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2021 and 2020 was as follows (in millions):

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Cost of sales			$	5.7					$	4.7					$	11.2					$	9.3
Selling, general, and administrative expenses			18.3						15.3						34.8						29.7
Research and development expenses			6.3						4.8						12.5						9.7
Total stock-based compensation expense			30.3						24.8						58.5						48.7
Income tax benefit			(4.9)						(4.1)						(8.8)						(7.6)
Total stock-based compensation expense, net of tax			$	25.4					$	20.7					$	49.7					$	41.1

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 June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Average risk-free interest rate			0.8		%				0.3		%				0.8		%				0.3		%
Expected dividend yield			None						None						None						None
Expected volatility			33.5		%				33.5		%				33.5		%				33.4		%
Expected term (years)			5.0						5.0						5.0						5.0
Fair value, per option			$	28.60					$	21.58					$	28.54					$	21.61

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 June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Average risk-free interest rate			0.0		%				0.1		%				0.1		%				1.4		%
Expected dividend yield			None						None						None						None
Expected volatility			32.3		%				37.5		%				36.8		%				32.6		%
Expected term (years)			0.6						0.6						0.6						0.6
Fair value, per share			$	26.03					$	18.42					$	22.65					$	16.06

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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.

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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.

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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.

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