Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Allocation of Share-based Compensation Costs

For the years ended December 31:

	2019		2018		2017
Compensation cost for stock options, performance restricted stock units, restricted stock units, and restricted stock	$	15.6	$	13.8	$	24.2
Total income tax benefit recognized for share-based arrangements	1.3		2.0		1.4

Schedule of Valuation Assumptions

When estimating the fair value of each option, we used the following weighted-average assumptions for options granted during the years ended December 31, 2019, 2018 and 2017:

	2019	2018	2017
Risk-free rate(1)	2.4%	2.7%	2.1%
Expected term(2)	7 years	7 years	7 years
Expected Avon volatility(3)	45%	42%	41%
Expected dividends	—%	—%	—%

⁽¹⁾The risk-free rate was based upon the rate on a zero coupon U.S. Treasury bill, for periods within the contractual life of the option, in effect at the time of grant.

⁽²⁾The expected term of the option was based on the vesting terms of the respective option and a contractual life of 10 years.

⁽³⁾Expected Avon volatility was based on the daily historical volatility of our stock price, over a period similar to the expected life of the option.

Schedule of Options Activity During Period

A summary of stock options as of December 31, 2019, and changes during 2019, is as follows:

	Shares (in 000’s)	Weighted- Average Exercise Price		Weighted- Average Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2019	18,962	$	9.05
Granted	4,755	3.43
Exercised	(3,071)	5.07
Forfeited	(3,242)	5.33
Expired	(2,525)	14.84
Outstanding at December 31, 2019	14,878	$	7.91	7.5	$	21,766.0
Exercisable at December 31, 2018	8,832	$	10.61	6.30	$	4,223.0

Schedule of Share-based Payment Award, Performance Restricted Stock Units, Valuation Assumptions

When estimating the fair value of the PRSUs, we used the following weighted-average assumptions:

	2019 PRSUs	2018 PRSUs	2017 PRSUs	2016 PRSUs	2015 PRSUs
Risk-free rate(1)	2.4%	2.5%	1.6%	1.1%	1.1%
Expected Avon volatility(2)	54.8%	61.4%	61%	56%	38%
Expected average volatility(3)	29.9%	29.5%	29%	28%	N/A
Expected dividends	—%	—%	—%	—%	3%

(1)The risk-free rate was based upon the rate on a zero coupon U.S. Treasury bill, for periods within the three year performance period, in effect at the time of grant.

(2)Expected Avon volatility was based on the weekly historical volatility of our stock price, over a period similar to the three year performance period of the 2019 PRSUs, 2018 PRSUs, 2017 PRSUs and 2016 PRSUs and the three year service period of the 2015 PRSUs.

(3)Expected average volatility was based on the weekly historical volatility of the stock prices of each member of companies included in the S&P 400 index as of the date of the grant, over a period similar to the three year performance period of the 2019 PRSUs, 2018 PRSUs, 2017 PRSUs and 2016 PRSUs.

Schedule of Restricted Stock and Units Activity During Period

A summary of restricted stock units at December 31, 2019, and changes during 2019, is as follows:

	Restricted Stock Units (in 000’s)	Weighted-Average Grant-Date Fair Value
January 1, 2019	4,998	$	3.37
Granted	3,909	2.81
Vested	(2,123)	3.30
Forfeited	(902)	3.40
Modified	(1,484)	$	2.75
December 31, 2019	4,398	$	3.11

Schedule of Share-Based Compensation Performance Restricted Stock Units Activity

A summary of performance restricted stock units at December 31, 2019, and changes during 2019, is as follows:

	Performance Restricted Stock Units (in 000’s)	Weighted-Average Grant-Date Fair Value
January 1, 2019(1)	3,177	$	3.76
Granted	4,689	1.64
Vested	(413)	3.96
Forfeited	(1,794)	3.62
Modified	(2,677)	$	1.83
December 31, 2019(1)	2,982	$	1.98

⁽¹⁾ Based on initial target payout.