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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2022 and 2021 was as follows (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Cost of sales			$	5.3					$	4.9					$	18.4					$	16.1
Selling, general, and administrative expenses			18.1						15.9						57.9						50.7
Research and development expenses			6.9						5.8						22.6						18.3
Total stock-based compensation expense			30.3						26.6						98.9						85.1
Income tax benefit			(4.9)						(4.7)						(15.2)						(13.5)
Total stock-based compensation expense, net of tax			$	25.4					$	21.9					$	83.7					$	71.6

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,
			2022						2021						2022						2021
Risk-free interest rate			3.2		%				0.9		%				3.0		%				0.8		%
Expected dividend yield			None						None						None						None
Expected volatility			31.5		%				33.5		%				31.5		%				33.5		%
Expected term (years)			4.9						5.3						5.0						5.0
Fair value, per option			$	32.00					$	34.38					$	34.77					$	28.78

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,
			2022						2021						2022						2021
Risk-free interest rate			2.5		%				0.1		%				0.5		%				0.1		%
Expected dividend yield			None						None						None						None
Expected volatility			31.1		%				33.7		%				32.0		%				36.6		%
Expected term (years)			0.8						0.7						0.6						0.6
Fair value, per share			$	21.53					$	29.85					$	28.18					$	23.07

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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.

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-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
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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

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-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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