Stock Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

The following table provides a summary of option activity:

						Weighted
						Average
				Weighted		Remaining
				Average		Contractual		Aggregate
				Exercise		Term		Intrinsic
	Options			Price		(in Years)		Value
Outstanding at December 31, 2023		10.2		$	68.77
Granted		1.0			100.28
Exercised		(1.4	)		47.37
Outstanding at March 31, 2024		9.8		$	74.61		6.4	$	296.3
Exercisable at March 31, 2024		5.2		$	62.32		4.5	$	217.3

Information Regarding Intrinsic Value of Stock Options Exercised and Stock Compensation Expense Related to Stock Option Awards

The following table provides information regarding the intrinsic value of stock options exercised and stock compensation expense related to stock option awards:

	Three Months Ended
	March 31,		March 31,
	2024		2023
Intrinsic Value of Stock Options Exercised	$	68.8	$	10.7
Stock Compensation Expense Related to Stock Option Awards	$	16.5	$	14.5
Issued Stock Options		1.0		1.0
Weighted Average Fair Value of Stock Options issued (per share)	$	29.81	$	23.93
Fair Value of Stock Options Issued	$	30.1	$	23.7

Assumptions Used in Valuation of Issued Stock Options

	Three Months Ended
	March 31,			March 31,
	2024			2023
Risk-free interest rate		4.2	%		4.0	%
Expected life in years		7.2			7.3
Expected volatility		22.3	%		12.3	%
Dividend yield		1.1	%		1.3	%