XML 52 R31.htm IDEA: XBRL DOCUMENT v3.23.2

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2023 and 2022 was as follows (in millions):

			Three Months Ended June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Cost of sales			$	6.2					$	6.9					$	13.2					$	13.1
Selling, general, and administrative expenses			22.5						21.1						44.8						39.8
Research and development expenses			8.7						8.2						18.3						15.7
Total stock-based compensation expense			37.4						36.2						76.3						68.6
Income tax benefit			(6.8)						(5.9)						(11.5)						(10.3)
Total stock-based compensation expense, net of tax			$	30.6					$	30.3					$	64.8					$	58.3

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 June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Risk-free interest rate			3.4		%				3.0		%				3.4		%				3.0		%
Expected dividend yield			None						None						None						None
Expected volatility			32.8		%				31.4		%				32.8		%				31.4		%
Expected term (years)			5.1						5.0						5.1						5.0
Fair value, per option			$	31.03					$	35.07					$	31.01					$	35.08

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,
			2023						2022						2023						2022
Risk-free interest rate			4.7		%				1.1		%				4.6		%				0.3		%
Expected dividend yield			None						None						None						None
Expected volatility			34.8		%				31.5		%				31.5		%				32.1		%
Expected term (years)			0.6						0.6						0.6						0.6
Fair value, per share			$	22.02					$	23.63					$	19.03					$	28.63

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration