Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Total Assets and Long-Lived Assets by Segment

The following table summarizes total assets by segment:

(in millions)	June 30, 2023		December 31, 2022
North America	$	5,166.5	$	5,161.7
International	1,214.6		1,181.5
Corporate	1,187.0		1,077.1
Inter-segment eliminations	(2,997.3)		(3,060.5)
Total assets	$	4,570.8	$	4,359.8

 The following table summarizes property, plant and equipment, net, by segment:

(in millions)	June 30, 2023		December 31, 2022
North America	$	727.2	$	672.1
International	92.3		87.3
Corporate	31.4		31.7
Total property, plant and equipment, net	$	850.9	$	791.1

The following table summarizes operating lease right-of-use assets by segment:

(in millions)	June 30, 2023		December 31, 2022
North America	$	408.1	$	349.0
International	156.6		154.1
Corporate	3.3		3.7
Total operating lease right-of-use assets	$	568.0	$	506.8

Segment Financial Information

The following table summarizes segment information for the three months ended June 30, 2023:

(in millions)	North America		International		Corporate		Eliminations		Consolidated
Net sales	$	1,016.8	$	252.9	$	—	$	—	$	1,269.7
Inter-segment sales	$	0.3	$	0.4	$	—	$	(0.7)	$	—
Inter-segment royalty expense (income)	9.3		(9.3)		—		—		—
Gross profit	403.4		138.9		—		—		542.3
Operating income (loss)	174.1		33.9		(49.2)		—		158.8
Income (loss) before income taxes	172.4		32.7		(79.7)		—		125.4
Depreciation and amortization (1)	$	24.3	$	6.4	$	15.3	$	—	$	46.0
Capital expenditures	52.3		6.8		1.5		—		60.6

(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the three months ended June 30, 2022:

(in millions)	North America		International		Corporate		Eliminations		Consolidated
Net sales	$	964.7	$	246.3	$	—	$	—	$	1,211.0
Inter-segment sales	$	0.4	$	0.5	$	—	$	(0.9)	$	—
Inter-segment royalty expense (income)	2.4		(2.4)		—		—		—
Gross profit	365.8		130.7		—		—		496.5
Operating income (loss)	146.1		35.8		(38.0)		—		143.9
Income (loss) before income taxes	144.8		34.7		(60.0)		—		119.5
Depreciation and amortization (1)	$	23.5	$	5.9	$	14.6	$	—	$	44.0
Capital expenditures	61.9		6.8		1.2		—		69.9

(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the six months ended June 30, 2023:

(in millions)	North America		International		Corporate		Eliminations		Consolidated
Net sales	$	1,936.4	$	541.4	$	—	$	—	$	2,477.8
Inter-segment sales	$	0.6	$	0.4	$	—	$	(1.0)	$	—
Inter-segment royalty expense (income)	16.7		(16.7)		—		—		—
Gross profit	747.4		294.8		—		—		1,042.2
Operating income (loss)	310.1		78.1		(86.1)		—		302.1
Income (loss) from continuing operations before income taxes	306.6		75.7		(146.5)		—		235.8
Depreciation and amortization (1)	$	49.8	$	12.9	$	27.9	$	—	$	90.6
Capital expenditures	98.1		11.5		3.1		—		112.7

(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the six months ended June 30, 2022:

(in millions)	North America		International		Corporate		Eliminations		Consolidated
Net sales	$	1,896.1	$	554.4	$	—	$	—	$	2,450.5
Inter-segment sales	$	0.9	$	0.7	$	—	$	(1.6)	$	—
Inter-segment royalty expense (income)	9.4		(9.4)		—		—		—
Gross profit	718.2		301.1		—		—		1,019.3
Operating income (loss)	301.5		102.6		(71.6)		—		332.5
Income (loss) from continuing operations before income taxes	300.6		101.1		(113.2)		—		288.5
Depreciation and amortization (1)	$	46.2	$	11.9	$	30.1	$	—	$	88.2
Capital expenditures	112.9		14.6		2.7		—		130.2

(1)Depreciation and amortization includes stock-based compensation amortization expense.

Long-Lived Assets by Geographic Region

The following table summarizes property, plant and equipment, net by geographic region:

(in millions)	June 30, 2023		December 31, 2022
United States	$	734.8	$	682.0
All other	116.1		109.1
Total property, plant and equipment, net	$	850.9	$	791.1

The following table summarizes operating lease right-of-use assets by geographic region:

(in millions)	June 30, 2023		December 31, 2022
United States	$	398.7	$	339.6
United Kingdom	123.3		122.9
All other	46.0		44.3
Total operating lease right-of-use assets	$	568.0	$	506.8