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EQUITY (Tables)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Total Outstanding Shares
Total outstanding shares of common stock and treasury stock were as follows:
(in millions)Shares of Common StockShares of Treasury Stock
Outstanding
Shares
Balance at December 31, 2016264.5  (34.4) 230.1  
Shares of treasury stock issued—  2.9  2.9  
Repurchase of common stock at an average cost of $64.40—  (6.2) (6.2) 
Balance at December 31, 2017264.5  (37.7) 226.8  
Shares of treasury stock issued—  1.6  1.6  
Repurchase of common stock at an average cost of $45.92—  (5.4) (5.4) 
Balance at December 31, 2018264.5  (41.5) 223.0  
Shares of treasury stock issued—  3.1  3.1  
Repurchase of common stock at an average cost of $54.18—  (4.8) (4.8) 
Balance at December 31, 2019264.5  (43.2) 221.3  
Total Stock Based Compensation Expense and the Tax Related Benefit
Total stock based compensation expense and the tax related benefit were as follows:
Year End December 31,
(in millions)201920182017
Stock option expense$7.1  $6.6  $15.4  
RSU expense57.8  13.2  31.2  
Total stock based compensation expense$64.9  $19.8  $46.6  
Related deferred income tax benefit$8.4  $2.4  $8.4  
Assumptions Used to Determine Compensation Cost for the Company's Non-qualified Stock Options Issued The average assumptions used to determine compensation cost for the Company’s NQSOs issued were as follows:
Year End December 31,
 201920182017
Weighted average fair value per share$12.20  $12.38  $13.83 
Expected dividend yield0.71 %0.64 %0.57 %
Risk-free interest rate2.36 %2.72 %2.11 %
Expected volatility22.6 %19.7 %20.0 %
Expected life (years)6.006.075.95
Summary of the Non-qualified Stock Option Transactions
The NQSO transactions for the year ended December 31, 2019 were as follows:
 OutstandingExercisable
(in millions, except per share amounts)Shares
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Shares
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
December 31, 20186.4  $46.80  $4.5  5.0  $43.98  $4.5  
Granted0.6  49.71      
Exercised(2.7) 40.34      
Cancelled(0.4) 61.38  
Forfeited(0.1) 59.59      
December 31, 20193.8  $50.02  $28.1  2.7  $48.85  $23.2  
Summary of Information about Non-qualified Stock Options Outstanding nformation about NQSOs outstanding for the year ended December 31, 2019 were as follows:
 OutstandingExercisable
Number
Outstanding
at
December 31, 2019
Weighted
Average
Remaining
Contractual
Life
(in years)
Weighted
Average
Exercise
Price
Number
Exercisable
at
December 31, 2019
Weighted
Average
Exercise
Price
Range of Exercise Prices
(in millions, except per share amounts and life)
30.01  -40.00  0.5  2.0$37.50  0.5  $37.51  
40.01  -50.00  1.4  5.946.19  0.9  44.24  
50.01   60.00  1.3  6.354.84  0.8  54.36  
60.01  -70.00  0.6  5.462.13  0.5  62.08  
 3.8  5.4$50.02  2.7  $48.85  
Summary of the Unvested RSU Transactions
The unvested RSU transactions for the year ended December 31, 2019 were as follows:
 Unvested Restricted Stock Units
 Shares
Weighted Average
Grant Date
Fair Value
(in millions, except per share amounts)
Unvested at December 31, 2018  1.5  $56.93  
Granted3.7  45.69  
Vested(0.4) 54.60  
Forfeited(0.3) 55.99  
Unvested at December 31, 2019  4.5  $47.79