Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2025

Quarterly Financial Information Disclosure [Abstract]

The following is a summary of the quarterly results of operations for the year ended December 31, 2025:


	September 30, 2025(1)								June 30, 2025(1)								March 31, 2025(1)
Three months ended (In millions, except per share data)	As Reported		Immaterial Error Correction		Impact of LIFO Change		Adjusted		As Reported		Immaterial Error Correction		Impact of LIFO Change		Adjusted		As Reported		Immaterial Error Correction		Impact of LIFO Change		Adjusted
Net sales	$	1,426.8	$	—	$	—	$	1,426.8	$	1,500.9	$	—	$	—	$	1,500.9	$	1,072.6	$	—	$	—	$	1,072.6
Cost of goods sold	958.2		(5.4)		(13.2)		939.6		978.4		1.5		3.5		983.4		744.1		(5.1)		(7.3)		731.7
Gross profit	468.6		5.4		13.2		487.2		522.5		(1.5)		(3.5)		517.5		328.5		5.1		7.3		340.9
Operating income	310.2		5.4		13.2		328.8		354.0		(1.5)		(3.5)		349.0		155.6		5.1		7.3		168.0
Income before income taxes	298.8		5.4		13.2		317.4		345.0		(1.5)		(3.5)		340.0		148.4		5.1		7.3		160.8
Provision for income taxes	53.0		1.3		3.2		57.5		67.4		(0.4)		(0.9)		66.1		28.1		1.3		1.8		31.2
Net income	$	245.8	$	4.1	$	10.0	$	259.9	$	277.6	$	(1.1)	$	(2.6)	$	273.9	$	120.3	$	3.8	$	5.5	$	129.6

Earnings per share - Basic	$	7.01	$	0.12	$	0.28	$	7.41	$	7.86	$	(0.03)	$	(0.08)	$	7.75	$	3.39	$	0.11	$	0.15	$	3.65

Earnings per share - Diluted	$	6.98	$	0.12	$	0.28	$	7.38	$	7.82	$	(0.03)	$	(0.08)	$	7.71	$	3.37	$	0.11	$	0.15	$	3.63

(1) In the fourth quarter of 2025, we changed the method of accounting for our inventories from LIFO to FIFO. The effects of the change in accounting principle have been retrospectively applied. Through our assessment of our change in method of inventory valuation, we identified and corrected immaterial errors in the capitalization of inventory variances for the respective quarters. In accordance with ASC 250, Accounting Changes and Error Corrections, the quarterly information for the first three quarters of 2025, which had been previously reported, has been adjusted on a retrospective basis to reflect that change in accounting principle. See Note 2 for further information.

The following table compares the amounts currently reported for the fourth quarter to the amounts that would have been reported under LIFO (in millions):


	For the Three Months Ended December 31, 2025
Three months ended (In millions, except per share data)	As Reported Under FIFO		Impact of LIFO Change		Calculated Under LIFO
Net sales	$	1,195.0	$	—	$	1,195.0
Cost of goods sold	805.7		3.7		809.4
Gross profit	389.3		(3.7)		385.6
Operating income	195.8		(3.7)		192.1
Income before income taxes	178.7		(3.7)		175.0
Provision for income taxes	36.2		(0.9)		35.3
Net income	$	142.5	$	(2.8)	$	139.7

Earnings per share - Basic	$	4.08	$	(0.08)	$	4.00

Earnings per share - Diluted	$	4.07	$	(0.08)	$	3.99