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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023 and 2022 was as follows (in millions):

									Three Months Ended March 31,
															2023						2022
Cost of sales															$	7.0					$	6.2
Selling, general, and administrative expenses															22.3						18.7
Research and development expenses															9.6						7.5
Total stock-based compensation expense															38.9						32.4
Income tax benefit															(4.7)						(4.4)
Total stock-based compensation expense, net of tax															$	34.2					$	28.0

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,
															2023						2022
Risk-free interest rate															4.1		%				1.9		%
Expected dividend yield															None						None
Expected volatility															31.3		%				33.5		%
Expected term (years)															5.3						5.3
Fair value, per option															$	27.77					$	35.66

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,
															2023						2022
Risk-free interest rate															4.6		%				0.2		%
Expected dividend yield															None						None
Expected volatility															31.5		%				32.2		%
Expected term (years)															0.6						0.6
Fair value, per share															$	21.10					$	29.52

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

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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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