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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024 and 2023 was as follows (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Cost of sales			$	6.1					$	4.7					$	20.8					$	16.3
Selling, general, and administrative expenses			20.4						17.2						62.4						57.3
Research and development expenses			8.7						7.2						28.3						23.7
Total stock-based compensation expense			35.2						29.1						111.5						97.3
Income tax benefit			(6.0)						(4.7)						(17.5)						(14.5)
Total stock-based compensation expense, net of tax			$	29.2					$	24.4					$	94.0					$	82.8

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,
			2024						2023						2024						2023
Risk-free interest rate			4.2		%				4.3		%				4.5%						3.4%
Expected dividend yield			None						None						None						None
Expected volatility			31.0		%				32.7		%				30.9%						32.8%
Expected term (years)			5.5						5.2						5.3						5.1
Fair value, per option			$	32.15					$	31.16					$	31.30					$	31.02

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,
			2024						2023						2024						2023
Risk-free interest rate			5.3		%				5.3		%				5.2%						4.6%
Expected dividend yield			None						None						None						None
Expected volatility			29.5		%				34.8		%				33.5%						31.5%
Expected term (years)			0.6						0.6						0.6						0.6
Fair value, per share			$	16.51					$	18.53					$	25.01					$	19.03

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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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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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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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