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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022 was as follows (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Cost of sales			$	5.5					$	5.3					$	18.7					$	18.4
Selling, general, and administrative expenses			19.1						18.1						63.9						57.9
Research and development expenses			8.0						6.9						26.3						22.6
Total stock-based compensation expense			32.6						30.3						108.9						98.9
Income tax benefit			(5.8)						(4.9)						(17.3)						(15.2)
Total stock-based compensation expense, net of tax			$	26.8					$	25.4					$	91.6					$	83.7

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 September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Risk-free interest rate			4.3		%				3.2		%				3.4		%				3.0		%
Expected dividend yield			None						None						None						None
Expected volatility			32.7		%				31.5		%				32.8		%				31.5		%
Expected term (years)			5.2						4.9						5.1						5.0
Fair value, per option			$	31.16					$	32.00					$	31.02					$	34.77

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,
			2023						2022						2023						2022
Risk-free interest rate			5.3		%				2.5		%				4.6		%				0.5		%
Expected dividend yield			None						None						None						None
Expected volatility			34.8		%				31.1		%				31.5		%				32.0		%
Expected term (years)			0.6						0.8						0.6						0.6
Fair value, per share			$	18.53					$	21.53					$	19.03					$	28.18

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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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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.

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-Name Accounting Standards Codification
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-Section 50
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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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