Stock Based Compensation Plans

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Based Compensation Plans

6. Stock Based Compensation Plans

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, 2019		14.0		$	43.23
Granted		1.8			73.98
Exercised		(2.9	)		30.21
Cancelled		(0.1	)		62.17
Outstanding at September 30, 2020		12.8		$	50.48		6.0	$	553.2
Exercisable at September 30, 2020		7.6		$	39.71		4.2	$	410.2

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				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2020		2019		2020		2019
Intrinsic Value of Stock Options Exercised	$	84.7	$	15.7	$	153.6	$	87.6
Stock Compensation Expense Related to Stock Option Awards	$	2.9	$	2.7	$	18.3	$	17.2
Issued Stock Options		0.0		0.0		1.8		1.4
Weighted Average Fair Value of Stock Options issued (per share)	$	0.0	$	0.0	$	12.75	$	14.94
Fair Value of Stock Options Issued	$	0.0	$	0.0	$	23.8	$	21.3

The following table provides a summary of the assumptions used in the valuation of issued stock options:

	Three Months Ended		Nine Months Ended
	September 30,	September 30,	September 30,			September 30,
	2020	2019	2020			2019
Risk-free interest rate	-	-		0.5	%		2.1	%
Expected life in years	-	-		7.3			7.3
Expected volatility	-	-		19.8	%		17.2	%
Dividend yield	-	-		1.3	%		1.2	%