Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Changes in Components of Accumulated Other Comprehensive Income Gains (Losses), Net of Tax

The following table shows the changes in the components of AOCI gains (losses), net of tax (in millions):

	Foreign			Cash			Defined
	Currency			Flow			Benefit			Total
	Translation			Hedges			Plan Items			AOCI
Balance at December 31, 2024	$	(239.0	)	$	88.2		$	(112.0	)	$	(262.8	)
AOCI before reclassifications		54.8			(36.6	)		-			18.2
Reclassifications to statements of earnings		-			(38.4	)		(0.8	)		(39.2	)
Balance at September 30, 2025	$	(184.2	)	$	13.2		$	(112.8	)	$	(283.8	)

Reclassification Adjustments from Accumulated Other Comprehensive Income

The following table shows the reclassification adjustments from AOCI (in millions):

	Amount of Gain (Loss)
	Reclassified from AOCI
	Three Months Ended						Nine Months Ended
	September 30,						September 30,						Location on
Component of AOCI	2025			2024			2025			2024			Statements of Earnings
Cash flow hedges
Foreign exchange forward contracts	$	10.7		$	21.0		$	47.4		$	64.7		Cost of products sold
Forward starting interest rate swaps		(0.2	)		(0.2	)		(0.6	)		(0.6	)	Interest expense, net
		10.5			20.8			46.8			64.1		Total before tax
		2.1			3.7			8.4			11.2		Provision for income taxes
	$	8.4		$	17.1		$	38.4		$	52.9		Net of tax
Defined benefit plans
Prior service cost and unrecognized actuarial loss	$	(1.1	)	$	0.7		$	1.0		$	2.0		Other income, net
		(0.2	)		(0.4	)		0.2			(0.3	)	Provision for income taxes
	$	(0.9	)	$	1.1		$	0.8		$	2.3		Net of tax
Total reclassifications	$	7.5		$	18.2		$	39.2		$	55.2		Net of tax

Tax Effects on Each Component of Accumulated Other Comprehensive Income Recognized in Statements of Comprehensive Income

The following tables show the tax effects on each component of AOCI recognized in our condensed consolidated statements of comprehensive income (in millions):

	Three Months Ended September 30, 2025									Nine Months Ended September 30, 2025
	Before Tax			Tax			Net of Tax			Before Tax			Tax			Net of Tax
Foreign currency cumulative translation adjustments	$	(9.2	)		1.4		$	(10.6	)	$	(11.3	)		(66.1	)	$	54.8
Unrealized cash flow hedge gains (losses)		23.3			4.5			18.8			(43.7	)		(7.1	)		(36.6	)
Reclassification adjustments on cash flow hedges		(10.5	)		(2.1	)		(8.4	)		(46.8	)		(8.4	)		(38.4	)
Adjustments to prior service cost and unrecognized actuarial assumptions		1.1			0.2			0.9			(1.0	)		(0.2	)		(0.8	)
Total Other Comprehensive Income (Loss)	$	4.7		$	4.0		$	0.7		$	(102.8	)	$	(81.8	)	$	(21.0	)

	Three Months Ended September 30, 2024									Nine Months Ended September 30, 2024
	Before Tax			Tax			Net of Tax			Before Tax			Tax			Net of Tax
Foreign currency cumulative translation adjustments	$	34.9		$	(26.2	)	$	61.1		$	19.7		$	(1.5	)	$	21.2
Unrealized cash flow hedge (losses) gains		(54.0	)		(4.1	)		(49.9	)		33.5			10.7			22.8
Reclassification adjustments on cash flow hedges		(20.8	)		(3.7	)		(17.1	)		(64.1	)		(11.2	)		(52.9	)
Adjustments to prior service cost and unrecognized actuarial assumptions		(0.7	)		0.4			(1.1	)		(2.0	)		0.3			(2.3	)
Total Other Comprehensive Income (Loss)	$	(40.6	)	$	(33.6	)	$	(7.0	)	$	(12.9	)	$	(1.7	)	$	(11.2	)