Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Selected Income Statement Information by Segment

	Earnings						Depreciation and Amortization(a)
	Three Months Ended						Three Months Ended
	March 31,						March 31,
(MILLIONS OF DOLLARS)	2024			2023			2024		2023
U.S.
Revenue	$	1,163		$	1,005
Cost of sales	217			203
Gross profit	946			802
Gross margin	81.3		%	79.8		%
Operating expenses	190			188
Other (income)/deductions-net	—			—
U.S. Earnings	756			614			$	24	$	19
International
Revenue(b)	1,007			978
Cost of sales	313			291
Gross profit	694			687
Gross margin	68.9		%	70.2		%
Operating expenses	159			151
Other (income)/deductions-net	—			1
International Earnings	535			535			23		21
Total operating segments	1,291			1,149			47		40
Other business activities	(132)			(114)			9		8
Reconciling Items:
Corporate	(288)			(208)			32		32
Purchase accounting adjustments	(37)			(42)			37		39
Acquisition-related costs	—			(1)			—		—
Certain significant items(c)	(6)			(22)			—		—
Other unallocated	(81)			(65)			1		1
Total Earnings(d)	$	747		$	697		$	126	$	120

(a)    Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.

(b)    Revenue denominated in euros was $223 million and $204 million for the three months ended March 31, 2024 and 2023, respectively.

(c)    For the three months ended March 31, 2024, primarily consisted of employee termination costs related to organizational structure refinements, partially offset by a reversal of certain employee termination costs as a result of a change in strategy from our 2015 operational efficiency initiative.

For the three months ended March 31, 2023, primarily consisted of employee termination costs related to organizational structure refinements.

(d)    Defined as income before provision for taxes on income.