Shareholders' Equity

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following table presents the changes in shareholders’ equity for the nine months ended September 30, 2024:

	Common Shares Issued	Common Stock		Capital in Excess of Par Value		Number of Treasury Shares	Treasury Stock		Retained earnings		Accumulated other comprehensive loss		Total
(in millions)
Balance, December 31, 2023	75.3	$	18.8	$	120.2	1.8	$	(637.6)	$	3,523.4	$	(143.8)	$	2,881.0
Net income	—	—		—		—	—		115.3		—		115.3
Activity related to stock-based compensation	—	—		(65.0)		(0.2)	79.4		—		—		14.4
Shares purchased under share repurchase program	—	—		—		0.7	(267.0)		—		—		(267.0)
Dividends declared ($0.20 per share)	—	—		—		—	—		(14.6)		—		(14.6)
Other comprehensive loss, net of tax	—	—		—		—	—		—		(48.5)		(48.5)
Balance, March 31, 2024	75.3	$	18.8	$	55.2	2.3	$	(825.2)	$	3,624.1	$	(192.3)	$	2,680.6
Net income	—	—		—		—	—		111.3		—		111.3
Activity related to stock-based compensation	—	—		(21.7)		(0.1)	32.8		—		—		11.1
Shares purchased under share repurchase program	—	—		—		0.5	(187.1)		—		—		(187.1)
Dividends declared ($0.20 per share)	—	—		—		—	—		(14.5)		—		(14.5)
Other comprehensive loss, net of tax	—	—		—		—	—		—		(24.6)		(24.6)
Balance, June 30, 2024	75.3	$	18.8	$	33.5	2.7	$	(979.5)	$	3,720.9	$	(216.9)	$	2,576.8
Net income	—	—		—		—	—		136.0		—		136.0
Activity related to stock-based compensation	—	—		(10.2)		(0.1)	21.3		—		—		11.1
Shares purchased under share repurchase program	—	—		—		0.2	(52.4)		—		—		(52.4)
Other comprehensive income, net of tax	—	—		—		—	—		—		80.6		80.6
Balance, September 30, 2024	75.3	$	18.8	$	23.3	2.8	$	(1,010.6)	$	3,856.9	$	(136.3)	$	2,752.1

The following table presents the changes in shareholders’ equity for the nine months ended September 30, 2023:

	Common Shares Issued	Common Stock		Capital in Excess of Par Value		Number of Treasury Shares	Treasury Stock		Retained earnings		Accumulated other comprehensive loss		Total
(in millions)
Balance, December 31, 2022	75.3	$	18.8	$	232.2	1.2	$	(370.9)	$	2,987.8	$	(183.0)	$	2,684.9
Net income	—	—		—		—	—		140.0		—		140.0
Activity related to stock-based compensation	—	—		(50.8)		(0.3)	61.8		—		—		11.0
Shares purchased under share repurchase program	—	—		—		0.2	(60.1)		—		—		(60.1)
Dividends declared ($0.19 per share)	—	—		—		—	—		(14.2)		—		(14.2)
Other comprehensive income, net of tax	—	—		—		—	—		—		14.6		14.6
Balance, March 31, 2023	75.3	$	18.8	$	181.4	1.1	$	(369.2)	$	3,113.6	$	(168.4)	$	2,776.2
Net income	—	—		—		—	—		155.1		—		155.1
Activity related to stock-based compensation	—	—		(23.2)		(0.2)	41.2		—		—		18.0
Shares purchased under share repurchase program	—	—		—		0.5	(173.4)		—		—		(173.4)
Dividends declared ($0.19 per share)	—	—		—		—	—		(14.1)		—		(14.1)
Other comprehensive loss, net of tax	—	—		—		—	—		—		(15.1)		(15.1)
Balance, June 30, 2023	75.3	$	18.8	$	158.2	1.4	$	(501.4)	$	3,254.6	$	(183.5)	$	2,746.7
Net income	—	—		—		—	—		161.3		—		161.3
Activity related to stock-based compensation	—	—		(35.6)		(0.2)	63.1		—		—		27.5
Shares purchased under share repurchase program	—	—		—		0.1	(27.8)		—		—		(27.8)
Other comprehensive loss, net of tax	—	—		—		—	—		—		(39.5)		(39.5)
Balance, September 30, 2023	75.3	$	18.8	$	122.6	1.3	$	(466.1)	$	3,415.9	$	(223.0)	$	2,868.2