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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Sales by Significant Product Group
The following table presents net sales information about our reportable segments, reconciled to consolidated totals:
($ in millions)202420232022
Net sales:
Proprietary Products$2,334.5 $2,397.3 $2,406.8 
Contract-Manufactured Products558.7 552.5 480.4 
Intersegment sales elimination— — (0.3)
Consolidated net sales$2,893.2 $2,949.8 $2,886.9 
Schedule of Sales and Long-Lived Assets, by Geographical Areas
The following table presents net sales and long-lived assets, by the country in which the legal subsidiary is domiciled and assets are located:
Net SalesLong-Lived Assets
($ in millions)20242023202220242023
United States$1,230.8 $1,238.5 $1,286.5 $832.0 $757.1 
Germany372.5 406.1 398.7 191.1 176.0 
Ireland323.2 285.7 240.3 299.6 207.0 
France242.2 282.9 237.9 84.7 78.5 
Other European countries385.5 388.1 359.2 98.1 99.2 
Other339.0 348.5 364.3 210.3 194.7 
$2,893.2 $2,949.8 $2,886.9 $1,715.8 $1,512.5 
Schedule of Segment Reporting Information, by Segment
202420232022
($ in millions)Proprietary ProductsContract ManufacturingTotalProprietary ProductsContract ManufacturingTotalProprietary ProductsContract ManufacturingTotal
Net sales$2,334.5 $558.7 $2,893.2 $2,397.3 $552.5 $2,949.8 $2,406.8 $480.4 $2,887.2 
Cost of goods and services sold1,434.0 460.7 1,363.3 456.5 1,353.5 397.5 
Research and development69.1 — 68.4 — 58.5 — 
Selling, general and administrative expenses231.5 26.2 240.6 24.4 212.6 20.9 
Other segment expense (income)(6)
22.1 (0.5)14.9 (0.5)(2.2)1.6 
Segment operating profit$577.8 $72.3 $650.1 $710.1 $72.1 $782.2 $784.4 $60.4 $844.8 
Reconciliation of profit or loss:
Stock Based Compensation(18.7)(23.3)(23.7)
Corporate general costs(1)
(58.6)(68.3)(59.1)
Unallocated items:
Restructuring and related charges(2)
(2.1)2.0 (23.8)
Amortization of acquisition-related intangible assets(3)
(0.8)(0.7)(0.7)
Cost investment activity(4)
— (4.3)(3.5)
Loss on disposal of plant(5)
— (11.6)— 
Total consolidated operating profit569.9 676.0 734.0 
Interest (income) expense and other nonoperating expense (income), net(15.6)(22.0)54.1 
Income before income taxes and equity in net income of affiliated companies$585.5 $698.0 $679.9 

(1) Corporate general costs includes executive and director compensation, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments.
(2) During 2024, the Company recorded expense to restructuring and other charges of $2.1 million. The net expense represents the impact of two items, the first of which is $4.6 million of expense recorded within selling, general and administrative expenses in connection with a plan to optimize the legal structure of the Company and its subsidiaries. The expense consists primarily of consulting fees, legal expenses, and other one-time costs directly attributable to this plan. This expense was partially offset by a $2.5 million benefit recorded within other expense (income) related to revised severance estimates in connection with the Company's 2022 restructuring plan. During 2023, the Company recorded a benefit to restructuring and other charges of $2.0 million, which represents the net impact of a $2.8 million benefit within other expense (income) for revised severance estimates in connection with its 2022 restructuring plan and an inventory write down of $0.8 million within cost of goods and services sold. During 2022, the Company recorded expense to restructuring and other charges of $23.8 million, which primarily included a charge of $8.7 million in net severance and post-employment benefits primarily in connection with our plan to adjust our operating cost base and $15.3 million in asset-related charges associated with this plan.

(3) During 2024, 2023 and 2022, the company recorded $0.8 million, $0.7 million and $0.7 million, respectively, of amortization expense within operating profit associated with an acquisition of an intangible asset during the second quarter of 2020.

(4) During 2023, the Company recorded a cost investment impairment charge of $4.3 million. During 2022, the net cost investment activity was equal to $3.5 million.

(5) During 2023, the Company recorded expense of $11.6 million, as a result of the sale of one of the Company’s manufacturing facilities within the Proprietary Products segment. The transaction closed during the second quarter of 2023.

(6) Other segment expense (income) primarily includes foreign exchange transaction gains and losses, adjustments to contingent consideration and asset impairments attributable to the segments during the periods ended December 31, 2024, 2023 and 2022.
The following tables provide summarized financial information for our two reportable segments and corporate and unallocated:
($ in millions)
Assets20242023
Proprietary Products$2,621.1 $2,629.1 
Contract-Manufactured Products612.2 527.5 
Corporate and Unallocated(1)
410.1 672.9 
Total consolidated$3,643.4 $3,829.5 

(1) Corporate and unallocated assets primarily include investments in affiliated companies, cash and cash equivalents, property, plant and equipment used in our corporate operations and deferred income taxes.

($ in millions)
Depreciation and Amortization202420232022
Proprietary Products$130.3 $112.9 $96.9 
Contract-Manufactured Products21.3 20.4 19.0 
Corporate and Unallocated3.8 4.0 4.7 
Total consolidated$155.4 $137.3 $120.6 
($ in millions)
Capital Expenditures202420232022
Proprietary Products$246.5 $259.1 $237.3 
Contract-Manufactured Products121.0 90.2 34.0 
Corporate and Unallocated9.5 12.7 13.3 
Total consolidated$377.0 $362.0 $284.6