Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock Based Compensation Expense

The following table provides information regarding the Company’s stock-based compensation expense:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Stock-based compensation	$	30.1	$	26.1	$	88.3	$	80.4
Tax effect recognized in net earnings	6.3		5.5		18.5		16.9

Weighted Average Assumptions Used to Value Option Grants

The following weighted average assumptions were used to estimate the fair value of options granted during current and prior year periods using the Black-Scholes option-pricing model:

	Nine months ended September 30,
	2020	2019
Risk-free interest rate (%)	0.81	2.38
Expected option life (years)	5.64	5.42
Expected volatility (%)	20.36	19.22
Expected dividend yield (%)	0.62	0.58