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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2022

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, 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

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,
															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

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,
															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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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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