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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Net sales $ 702.1 $ 753.8 $ 1,397.5 $ 1,470.4
Cost of goods and services sold 472.1 462.4 937.3 907.7
Gross profit 230.0 291.4 460.2 562.7
Research and development 17.5 16.5 35.1 33.6
Selling, general and administrative expenses 83.0 88.4 169.7 174.4
Other expense (income) (Note 14) 3.3 4.0 6.4 16.9
Operating profit 126.2 182.5 249.0 337.8
Interest expense, net 1.5 2.7 3.1 4.9
Interest income (4.0) (5.0) (10.2) (9.8)
Other nonoperating (income) expense 0.0 (0.1) 0.0 (0.1)
Income before income taxes and equity in net income of affiliated companies 128.7 184.9 256.1 342.8
Income tax expense 21.9 34.8 38.3 58.4
Equity in net income of affiliated companies (4.5) (5.0) (8.8) (10.7)
Net income $ 111.3 $ 155.1 $ 226.6 $ 295.1
Net income per share:        
Basic (in dollars per share) $ 1.52 $ 2.08 $ 3.09 $ 3.96
Diluted (in dollars per share) $ 1.51 $ 2.06 $ 3.06 $ 3.91
Weighted average shares outstanding:        
Basic (in shares) 73.0 74.3 73.3 74.4
Diluted (in shares) 73.7 75.4 74.0 75.5