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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net sales $ 2,893.2 $ 2,949.8 $ 2,886.9
Cost of goods and services sold 1,894.7 1,820.6 1,750.7
Gross profit 998.5 1,129.2 1,136.2
Research and development 69.1 68.4 58.5
Selling, general and administrative expenses 338.5 353.4 316.9
Other expense (income) (Note 16) 21.0 31.4 26.8
Operating profit 569.9 676.0 734.0
Interest expense 3.0 9.0 7.9
Interest income (19.6) (28.0) (5.1)
Other nonoperating expense (income) 1.0 (3.0) 51.3
Income before income taxes and equity in net income of affiliated companies 585.5 698.0 679.9
Income tax expense 107.5 122.3 114.7
Equity in net income of affiliated companies (14.7) (17.7) (20.7)
Net income $ 492.7 $ 593.4 $ 585.9
Net income per share:      
Basic (in dollars per share) $ 6.75 $ 7.98 $ 7.87
Diluted (in dollars per share) $ 6.69 $ 7.88 $ 7.73
Weighted average shares outstanding:      
Basic (in shares) 73.0 74.3 74.4
Diluted (in shares) 73.7 75.3 75.8