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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Components of Share-Based Compensation Expense (Benefit) Recognized
The following table reflects the components of share-based compensation expense (benefit) recognized in our consolidated statements of operations (in millions):
 Three Months Ended
March 31,
 20242023
Stock options$5.7 $4.9 
RSUs15.5 12.2 
STAP awards3.9 (30.0)
ESPP0.5 0.5 
Total share-based compensation expense (benefit) before tax$25.6 $(12.4)
Schedule of Weighted-Average Assumptions to Measure the Fair Value of Stock Options
The following weighted average assumptions were used in estimating the fair value of stock options granted to employees during the three months ended March 31, 2024 and 2023:
March 31, 2024March 31, 2023
Expected term of awards (in years)6.56.5
Expected volatility31.6 %31.4 %
Risk-free interest rate4.3 %3.6 %
Expected dividend yield— %— %
Schedule of Activity and Status of Stock Options
A summary of the activity and status of stock options under our equity incentive plans during the three-month period ended March 31, 2024 is presented below:
 Number of
Options		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term (in Years)		Aggregate
Intrinsic
Value (in millions)
Outstanding as of January 1, 20246,213,853 $136.60   
Granted534,277 235.78   
Exercised(327,267)128.92   
Forfeited— —   
Outstanding as of March 31, 20246,420,863 $145.24 4.0$545.9 
Exercisable as of March 31, 20245,427,581 $130.19 2.9$540.5 
Unvested as of March 31, 2024993,282 $227.50 9.5$5.4 
Schedule of Share-Based Compensation Expense (Benefit) Recognized
Total share-based compensation expense related to stock options is recorded as follows (in millions):
 Three Months Ended
March 31,
 20242023
Cost of sales$— $— 
Research and development0.1 0.1 
Selling, general, and administrative5.6 4.8 
Share-based compensation expense before taxes5.7 4.9 
Related income tax benefit(0.2)(0.2)
Share-based compensation expense, net of taxes$5.5 $4.7 
Total share-based compensation expense related to RSUs is recorded as follows (in millions):
 Three Months Ended
March 31,
 20242023
Cost of sales$0.9 $1.0 
Research and development5.6 4.7 
Selling, general, and administrative9.0 6.5 
Share-based compensation expense before taxes15.5 12.2 
Related income tax benefit(3.3)(2.9)
Share-based compensation expense, net of taxes$12.2 $9.3 
Share-based compensation expense (benefit) recognized in connection with STAP awards is as follows (in millions):
 Three Months Ended
March 31,
 20242023
Cost of sales$0.2 $(1.4)
Research and development0.5 (3.7)
Selling, general, and administrative3.2 (24.9)
Share-based compensation expense (benefit) before taxes3.9 (30.0)
Related income tax (benefit) expense(0.8)5.2 
Share-based compensation expense (benefit), net of taxes$3.1 $(24.8)
Summary of Stock Option Exercise Data
Stock option exercise data is summarized below (dollars in millions):
 Three Months Ended
March 31,
 20242023
Number of options exercised327,267 539,100 
Cash received$42.2 $61.4 
Total intrinsic value of options exercised$35.7 $71.6 
Schedule of Restricted Stock Units Activity
A summary of the activity with respect to, and status of, RSUs during the three-month period ended March 31, 2024 is presented below:
 Number of
RSUs		Weighted
Average
Grant Date
Fair Value
Unvested as of January 1, 2024964,759 $210.35 
Granted391,725 235.18 
Vested(139,219)186.49 
Forfeited(4,882)208.45 
Unvested as of March 31, 20241,212,383 $221.12 
Schedule of Weighted-Average Assumptions to Measure the Fair Value of Outstanding STAP Awards
The table below includes the weighted average assumptions used to measure the fair value of the outstanding STAP awards:
 March 31, 2024March 31, 2023
Expected term of awards (in years)0.90.9
Expected volatility26.8 %28.6 %
Risk-free interest rate5.1 %4.6 %
Expected dividend yield
— %— %
Schedule of the Activity and Status of STAP Awards
A summary of the activity and status of STAP awards during the three-month period ended March 31, 2024 is presented below:
 Number of
Awards		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term
(in Years)		Aggregate
Intrinsic
Value
(in millions)
Outstanding as of January 1, 2024443,058 $149.21   
Granted— —   
Exercised(75,764)103.15   
Forfeited— —   
Outstanding as of March 31, 2024367,294 $158.71 0.9$26.1 
Exercisable as of March 31, 2024367,294 $158.71 0.9$26.1 
Unvested as of March 31, 2024— $— — $—