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CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
NET SALES [1] $ 413.6 $ 393.2 $ 832.2 $ 775.7
Cost of sales 299.2 297.8 608.0 598.9
GROSS MARGIN 114.4 95.4 224.2 176.8
OPERATING EXPENSES AND INCOME        
Selling, general and administrative expenses 46.0 32.5 85.1 65.0
Research, development and engineering expenses 12.3 9.5 22.1 19.9
Equity, royalty and interest income from investees 8.3 5.5 16.7 14.2
Other operating expense, net 0.2 0.9 0.3 3.6
OPERATING INCOME 64.2 58.0 133.4 102.5
Interest expense 4.2 0.1 4.2 0.3
Other income, net 1.2 3.2 1.1 3.9
Total other comprehensive loss, net of tax 61.2 61.1 130.3 106.1
Income tax expense 15.0 11.9 31.4 22.1
NET INCOME $ 46.2 $ 49.2 $ 98.9 $ 84.0
PER SHARE DATA:        
Weighted-average shares for basic EPS (in shares) 83.3 83.3 83.3 83.3
Weighted-average shares for diluted EPS (in shares) 83.3 83.3 83.3 83.3
Basic earnings per share (in dollars per share) $ 0.55 $ 0.59 $ 1.19 $ 1.01
Diluted earnings per share (in dollars per share) $ 0.55 $ 0.59 $ 1.19 $ 1.01
[1] Includes sales to related parties of $87.2 million and $176.3 million for the three and six months ended June 30, 2023, respectively, compared with $84.1 million and $170.0 million for the three and six months ended June 30, 2022, respectively.