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Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Total sales $ 5,254.7 $ 4,634.4 $ 4,563.9
Total cost of sales (2,247.6) (2,025.9) (2,080.7)
Gross profit 3,007.1 2,608.5 2,483.2
Operating costs:      
Selling, general, and administrative expenses (1,839.5) (1,748.4) (1,719.0)
Research and development expenses (354.8) (320.7) (320.3)
Operating profit 812.8 539.4 443.9
Non-operating income (expense), net:      
Interest expense, net (103.2) (148.5) (142.6)
Gain from combination of business 0.0 0.0 40.8
Loss on extinguishment of debt (104.9) 0.0 0.0
Gain on litigation resolution 29.9 0.0 0.0
Gain on investment in Vontier Corporation 57.0 1,119.2 0.0
Other non-operating expenses, net (14.1) (2.4) (5.4)
Earnings from continuing operations before income taxes 677.5 1,507.7 336.7
Income taxes (63.3) (55.5) (68.6)
Net earnings from continuing operations 614.2 1,452.2 268.1
Earnings from discontinued operations, net of income taxes (5.8) 161.1 470.8
Net earnings 608.4 1,613.3 738.9
Mandatory convertible preferred dividends (34.5) (69.0) (69.0)
Net earnings attributable to common stockholders $ 573.9 $ 1,544.3 $ 669.9
Net earnings per common share from continuing operations:      
Earnings per common share from continuing operations, basic (in dollars per share) $ 1.66 $ 4.10 $ 0.59
Net earnings per common share from continuing operations, diluted (in dollars per share) 1.65 4.05 0.59
Net earnings per common share from discontinued operations:      
Net earnings per common share from discontinued operations, basic (in dollars per share) (0.02) 0.48 1.40
Earnings per common share from discontinued operations, diluted (in dollars per share) (0.02) 0.45 1.38
Net earnings per common share:      
Net earnings per common share, basic (in dollars per share) 1.64 4.58 1.99
Net earnings per common share, diluted (in dollars per share) $ 1.63 $ 4.49 $ 1.97
Average common stock and common equivalent shares outstanding:      
Average common stock and common equivalent shares outstanding, basic (in shares) 349.0 337.4 335.8
Average common stock and common equivalent shares outstanding, diluted (in shares) 352.3 359.0 340.0
Retained Earnings      
Non-operating income (expense), net:      
Net earnings $ 608.4 $ 1,613.3 $ 738.9
Sales of products      
Total sales 4,496.1 3,956.7 3,922.5
Total cost of sales (1,833.4) (1,643.4) (1,733.3)
Sales of services      
Total sales 758.6 677.7 641.4
Total cost of sales $ (414.2) $ (382.5) $ (347.4)