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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2021 and 2020 was as follows (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Cost of sales			$	4.9					$	4.3					$	16.1					$	13.6
Selling, general, and administrative expenses			15.9						13.8						50.7						43.5
Research and development expenses			5.8						4.9						18.3						14.6
Total stock-based compensation expense			26.6						23.0						85.1						71.7
Income tax benefit			(4.7)						(3.9)						(13.5)						(11.5)
Total stock-based compensation expense, net of tax			$	21.9					$	19.1					$	71.6					$	60.2

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 September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Average risk-free interest rate			0.9		%				0.3		%				0.8		%				0.3		%
Expected dividend yield			None						None						None						None
Expected volatility			33.5		%				33.4		%				33.5		%				34.2		%
Expected term (years)			5.3						5.2						5.0						5.1
Fair value, per option			$	34.38					$	22.24					$	28.78					$	22.19

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 September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Average risk-free interest rate			0.1		%				0.1		%				0.1		%				1.3		%
Expected dividend yield			None						None						None						None
Expected volatility			33.7		%				37.5		%				36.6		%				33.1		%
Expected term (years)			0.7						0.7						0.6						0.6
Fair value, per share			$	29.85					$	21.79					$	23.07					$	16.61

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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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