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CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
NET SALES [1] $ 396.2 $ 401.2 $ 1,228.4 $ 1,176.9
Cost of sales 293.3 301.5 901.3 900.4
GROSS MARGIN 102.9 99.7 327.1 276.5
OPERATING EXPENSES AND INCOME        
Selling, general and administrative expenses 41.3 32.3 126.4 97.3
Research, development and engineering expenses 11.1 9.8 33.2 29.7
Equity, royalty and interest income from investees 8.1 7.3 24.8 21.5
Other operating (income) expense, net (0.2) 0.0 0.1 3.6
OPERATING INCOME 58.8 64.9 192.2 167.4
Interest expense 11.0 0.3 15.2 0.6
Other income, net 1.1 0.0 2.2 3.9
Total other comprehensive loss, net of tax 48.9 64.6 179.2 170.7
Income tax expense 11.3 14.2 42.7 36.3
NET INCOME $ 37.6 $ 50.4 $ 136.5 $ 134.4
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) 83.4 83.3 83.4 83.3
Basic earnings per share (in dollars per share) $ 0.45 $ 0.61 $ 1.64 $ 1.61
Diluted earnings per share (in dollars per share) $ 0.45 $ 0.61 $ 1.64 $ 1.61
[1] Includes sales to related parties of $86.9 million and $263.2 million for the three and nine months ended September 30, 2023, respectively, compared with $90.1 million and $260.1 million for the three and nine months ended September 30, 2022, respectively.