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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Total Outstanding Shares | Total outstanding shares of common stock and treasury stock were as follows:
(in millions) |  | Shares of Common Stock |  | Shares of Treasury Stock |  | Outstanding Shares
Balance at December 31, 2016 |  | 264.5 |  |  | (34.4) |  |  | 230.1 |
Shares of treasury stock issued |  | — |  |  | 2.9 |  |  | 2.9 |
Repurchase of common stock at an average cost of $64.40 |  | — |  |  | (6.2) |  |  | (6.2) |
Balance at December 31, 2017 |  | 264.5 |  |  | (37.7) |  |  | 226.8 |
Shares of treasury stock issued |  | — |  |  | 1.6 |  |  | 1.6 |
Repurchase of common stock at an average cost of $45.92 |  | — |  |  | (5.4) |  |  | (5.4) |
Balance at December 31, 2018 |  | 264.5 |  |  | (41.5) |  |  | 223.0 |
Shares of treasury stock issued |  | — |  |  | 3.1 |  |  | 3.1 |
Repurchase of common stock at an average cost of $54.18 |  | — |  |  | (4.8) |  |  | (4.8) |
Balance at December 31, 2019 |  | 264.5 |  |  | (43.2) |  |  | 221.3 |
Total Stock Based Compensation Expense and the Tax Related Benefit | Total stock based compensation expense and the tax related benefit were as follows:
|  | Year End December 31, |  |  |  |
(in millions) |  | 2019 |  | 2018 |  | 2017
Stock option expense |  | $ | 7.1 |  |  | $ | 6.6 |  |  | $ | 15.4 |
RSU expense |  | 57.8 |  |  | 13.2 |  |  | 31.2 |
Total stock based compensation expense |  | $ | 64.9 |  |  | $ | 19.8 |  |  | $ | 46.6 |
Related deferred income tax benefit |  | $ | 8.4 |  |  | $ | 2.4 |  |  | $ | 8.4 |
Assumptions Used to Determine Compensation Cost for the Company's Non-qualified Stock Options Issued | The average assumptions used to determine compensation cost for the Company’s NQSOs issued were as follows:
|  | Year End December 31, |  |  |  |
|  | 2019 |  | 2018 |  | 2017
Weighted average fair value per share |  | $ | 12.20 |  |  | $ | 12.38 |  |  | $ | 13.83 |
Expected dividend yield |  | 0.71 | % |  | 0.64 | % |  | 0.57 | %
Risk-free interest rate |  | 2.36 | % |  | 2.72 | % |  | 2.11 | %
Expected volatility |  | 22.6 | % |  | 19.7 | % |  | 20.0 | %
Expected life (years) |  | 6.00 |  | 6.07 |  | 5.95
Summary of the Non-qualified Stock Option Transactions | The NQSO transactions for the year ended December 31, 2019 were as follows:
|  | Outstanding |  |  |  |  |  | Exercisable |  |  |  |
(in millions, except per share amounts) |  | Shares |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value |  | Shares |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value
December 31, 2018 |  | 6.4 |  |  | $ | 46.80 |  |  | $ | 4.5 |  |  | 5.0 |  |  | $ | 43.98 |  |  | $ | 4.5 |
Granted |  | 0.6 |  |  | 49.71 |  |  |  |  |  |  |  |  |
Exercised |  | (2.7) |  |  | 40.34 |  |  |  |  |  |  |  |  |
Cancelled |  | (0.4) |  |  | 61.38 |  |  |  |  |  |  |  |  |
Forfeited |  | (0.1) |  |  | 59.59 |  |  |  |  |  |  |  |  |
December 31, 2019 |  | 3.8 |  |  | $ | 50.02 |  |  | $ | 28.1 |  |  | 2.7 |  |  | $ | 48.85 |  |  | $ | 23.2 |
Summary of Information about Non-qualified Stock Options Outstanding | nformation about NQSOs outstanding for the year ended December 31, 2019 were as follows:
|  |  |  | Outstanding |  |  |  |  |  | Exercisable |  |
|  |  |  | Number Outstanding at December 31, 2019 |  | Weighted Average Remaining Contractual Life (in years) |  | Weighted Average Exercise Price |  | Number Exercisable at December 31, 2019 |  | Weighted Average Exercise Price
Range of Exercise Prices |  |  |  |  |  |  |  |  |  |  |  |
(in millions, except per share amounts and life) |  |  |  |  |  |  |  |  |  |  |  |
30.01 |  | - | 40.00 |  |  | 0.5 |  |  | 2.0 |  | $ | 37.50 |  |  | 0.5 |  |  | $ | 37.51 |
40.01 |  | - | 50.00 |  |  | 1.4 |  |  | 5.9 |  | 46.19 |  |  | 0.9 |  |  | 44.24 |
50.01 |  | - |  | 60.00 |  |  | 1.3 |  |  | 6.3 |  | 54.84 |  |  | 0.8 |  |  | 54.36 |
60.01 |  | - | 70.00 |  |  | 0.6 |  |  | 5.4 |  | 62.13 |  |  | 0.5 |  |  | 62.08 |
|  |  |  | 3.8 |  |  | 5.4 |  | $ | 50.02 |  |  | 2.7 |  |  | $ | 48.85 |
Summary of the Unvested RSU Transactions | The unvested RSU transactions for the year ended December 31, 2019 were as follows:
|  | Unvested Restricted Stock Units |  |
|  | Shares |  | Weighted Average Grant Date Fair Value
(in millions, except per share amounts) |  |  |  |
Unvested at December 31, 2018 |  |  | 1.5 |  |  | $ | 56.93 |
Granted |  | 3.7 |  |  | 45.69 |
Vested |  | (0.4) |  |  | 54.60 |
Forfeited |  | (0.3) |  |  | 55.99 |
Unvested at December 31, 2019 |  |  | 4.5 |  |  | $ | 47.79 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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