The Company has non-qualified options outstanding under four equity compensation plans. Under the Amended and Restated Omnibus Equity Plan, the Company may grant stock options and other stock-based awards to employees and directors. Under the 1983 Stock Option Plan and the Stock Award Plan, the Company granted stock options to key management employees. Under the Stock Option Plan for Directors, the Company granted stock options to non‑employee directors. Following approval of the original Omnibus Equity Plan by stockholders in 2008, no further grants were permitted under the other equity compensation plans. Stock options outstanding under the plans are issued at market value on the date of grant (with the exception of options granted to former WATERPIK employees as part of the Waterpik Acquisition), vest on the third anniversary of the date of grant and must be exercised within 10 years of the date of grant.

If, upon termination of a participant’s employment (other than a termination for cause), a participant is at least 55 years old, has at least five years of service, and the sum of the participant’s age and years of service is at least 65, the participant may exercise any stock options granted between 2007 through 2017 within a period of three years from the date of termination or, if earlier, the date such stock options otherwise would have expired, subject to specified conditions. Starting with stock options granted in 2018, a terminated employee who meets the above conditions may exercise any stock options within a period of ten years from the date of termination or, if earlier, the date such stock options otherwise would have expired, subject to specified conditions. Issuances of Common Stock to satisfy employee stock option exercises currently are made from treasury stock.

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
	Options			Price		Term		Value
Outstanding as of December 31, 2019		14.0		$	43.23
Granted		1.9			74.39
Exercised		(3.1	)		30.23
Cancelled		(0.1	)		65.44
Outstanding as of December 31, 2020		12.7		$	50.72		5.8	$	463.4
Exercisable as of December 31, 2020		7.6		$	39.92		4.0	$	357.7

The following table summarizes information relating to options outstanding and exercisable as of December 31, 2020:

	Options Outstanding						Options Exercisable
			Weighted		Weighted				Weighted
	Outstanding		Average		Average		Exercisable		Average
Range of	as of		Remaining		Exercise		as of		Exercise
Exercise Prices	12/31/2020		Contractual Life		Price		12/31/2020		Price
$0.01 - $20.00		0.1		2.5	$	3.44		0.1	$	3.44
$20.01 - $30.00		0.9		1.4	$	26.11		0.9	$	26.11
$30.01 - $40.00		2.5		2.9	$	32.80		2.5	$	32.80
$40.01 - $50.00		2.8		4.8	$	44.24		2.8	$	44.21
$50.01 - $60.00		3.1		6.9	$	51.98		1.3	$	53.64
$60.01 - $70.00		0.1		7.9	$	65.52		0.0	$	0.0
$70.01 - $80.00		3.2		9.0	$	75.35		0.0	$	0.0
		12.7		5.8	$	50.72		7.6	$	39.92

The table above represents the Company’s estimate of stock options fully vested and expected to vest. Expected forfeitures are not material and, therefore, are not reflected in the table above.

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

	2020		2019		2018
Intrinsic Value of Stock Options Exercised	$	159.8	$	93.1	$	109.6
Stock Compensation Expense Related to Stock Option Awards	$	21.1	$	20.3	$	21.3
Issued Stock Options		1.9		1.5		2.0
Weighted Average Fair Value of Stock Options issued (per share)	$	12.85	$	14.90	$	9.79
Fair Value of Stock Options Issued	$	24.5	$	22.1	$	19.4

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

	2020			2019			2018
Risk-free interest rate		0.5	%		2.0	%		2.9	%
Expected life in years		7.3			7.3			7.3
Expected volatility		19.9	%		17.2	%		17.1	%
Dividend yield		1.3	%		1.2	%		1.7	%

The fair value of stock options is based upon the Black Scholes option pricing model. The Company determined the stock options’ lives based on historical exercise behavior and their expected volatility and dividend yield based on the historical changes in stock price and dividend payments. The risk-free interest rate is based on the yield of an applicable term Treasury instrument.

As of December 31, 2020, there was a fair value of $16.5 related to unamortized stock option compensation expense, which is expected to be recognized over the next three years. The Company’s Consolidated Statements of Cash Flow reflect an add back to Net Cash Provided by Operating Activities of $21.5, $20.8 and $23.3 in 2020, 2019 and 2018, respectively, for non-cash compensation expense, primarily stock option expense.

In May 2018, the Company issued cash-settled stock units under the Amended and Restated Omnibus Equity Plan to all employees at the level of vice president and below. These restricted stock units were scheduled to vest and be settled on the third anniversary of the date of grant. In December 2020, the Company accelerated the grant to vest in December 2020. As a result, the Company recorded stock compensation expense of $3.1 and $1.5 in 2020 and 2019, and there was no liability as of December 31, 2020. The liability was approximately $3.1 as of December 31, 2019.

The Company maintains a non-qualified deferred compensation plan under which certain members of management are eligible to defer a maximum of 85% of their regular compensation (i.e., salary) and, in general, up to 85% of their incentive bonus. The amounts deferred under this plan are credited with earnings or losses based upon changes in values of notional investments selected by the plan participant. The investment options available include notional investments in various stock, bond and money market funds as well as the Company’s Common Stock. Each plan participant is fully vested in the amounts the participant defers. The plan permits the Company to make profit sharing contributions that cannot otherwise be contributed to the qualified savings and profit sharing plan due to limitations established by the Internal Revenue Service. These contributions vest under the same vesting schedule applicable to the qualified plan.

The liability to plan participants for contributions designated for notional investment in Common Stock is based on the quoted fair value of the Common Stock plus any dividends credited. The Company uses cash-settled hedging instruments to minimize the cost related to the volatility of Common Stock. At December 31, 2020 and 2019, the amount of the Company’s liability under the deferred compensation plan is included in Current and Deferred and Other Long-term Liabilities and was $116.9 and $102.8, respectively and the funded balances recorded in Other Assets amounted to $101.4 and $98.2, respectively. The amounts charged to earnings, including the effect of the hedges, totaled expense of $2.1 in 2020, income of $1.0 in 2019 and expense of $2.4 in 2018, respectively.

Non-employee members of the Company’s Board are eligible to defer up to 100% of their directors’ compensation into a similar plan; however, the only option for investment is Common Stock. Members of the Board are fully vested in their account balance. As of December 31, 2020, there were approximately 169,000 shares of Common Stock from shares held as Treasury Stock in a rabbi trust to protect the interest of the directors’ deferred compensation plan participants in the event of a change of control.