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STOCK-BASED COMPENSATION | 3 Months Ended
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Mar. 31, 2022
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, 2022 and 2021 was as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
Cost of sales |  |  |  |  | $ | 6.2 |  |  | $ | 5.5 |
Selling, general, and administrative expenses |  |  |  |  | 18.7 |  |  | 16.5 |
Research and development expenses |  |  |  |  | 7.5 |  |  | 6.2 |
Total stock-based compensation expense |  |  |  |  | 32.4 |  |  | 28.2 |
Income tax benefit |  |  |  |  | (4.4) |  |  | (3.9) |
Total stock-based compensation expense, net of tax |  |  |  |  | $ | 28.0 |  |  | $ | 24.3 |
At March 31, 2022, the total remaining compensation cost related to nonvested stock options, restricted stock units, market-based restricted stock units, and employee stock purchase plan ("ESPP") subscription awards amounted to $149.7 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,
|  |  |  |  | 2022 |  | 2021
Average risk-free interest rate |  |  |  |  | 1.9 | % |  | 0.6 | %
Expected dividend yield |  |  |  |  | None |  | None
Expected volatility |  |  |  |  | 33.5 | % |  | 33.4 | %
Expected term (years) |  |  |  |  | 5.3 |  | 5.2
Fair value, per option |  |  |  |  | $ | 35.66 |  |  | $ | 26.28 |
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,
|  |  |  |  | 2022 |  | 2021
Average risk-free interest rate |  |  |  |  | 0.2 | % |  | 0.1 | %
Expected dividend yield |  |  |  |  | None |  | None
Expected volatility |  |  |  |  | 32.2 | % |  | 37.5 | %
Expected term (years) |  |  |  |  | 0.6 |  | 0.6
Fair value, per share |  |  |  |  | $ | 29.52 |  |  | $ | 22.14 |

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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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