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STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2022 and 2021 was as follows (in millions):

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
Cost of sales			$	6.9					$	5.7					$	13.1					$	11.2
Selling, general, and administrative expenses			21.1						18.3						39.8						34.8
Research and development expenses			8.2						6.3						15.7						12.5
Total stock-based compensation expense			36.2						30.3						68.6						58.5
Income tax benefit			(5.9)						(4.9)						(10.3)						(8.8)
Total stock-based compensation expense, net of tax			$	30.3					$	25.4					$	58.3					$	49.7

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,
			2022						2021						2022						2021
Average risk-free interest rate			3.0		%				0.8		%				3.0		%				0.8		%
Expected dividend yield			None						None						None						None
Expected volatility			31.4		%				33.5		%				31.4		%				33.5		%
Expected term (years)			5.0						5.0						5.0						5.0
Fair value, per option			$	35.07					$	28.60					$	35.08					$	28.54

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,
			2022						2021						2022						2021
Average risk-free interest rate			1.1		%				0.0		%				0.3		%				0.1		%
Expected dividend yield			None						None						None						None
Expected volatility			31.5		%				32.3		%				32.1		%				36.8		%
Expected term (years)			0.6						0.6						0.6						0.6
Fair value, per share			$	23.63					$	26.03					$	28.63					$	22.65

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- Definition

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.

+ 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 (h)(1)
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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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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.

+ 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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