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CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
NET SALES $ 1,669.6 $ 1,628.1 $ 1,562.1 [1]
Cost of sales 1,207.5 1,195.4 1,202.9
GROSS MARGIN 462.1 432.7 359.2
OPERATING EXPENSES AND INCOME      
Selling, general and administrative expenses 187.6 174.7 139.7
Research, development and engineering expenses 40.6 42.5 38.6
Equity, royalty and interest income from investees 34.3 33.6 28.0
Other operating expense, net 2.0 0.7 5.0
OPERATING INCOME 266.2 248.4 203.9
Interest expense 40.6 25.8 0.7
Other income, net 9.2 3.8 8.8
INCOME BEFORE INCOME TAXES 234.8 226.4 212.0
Income tax expense 49.2 55.1 41.6
NET INCOME $ 185.6 $ 171.3 $ 170.4
PER SHARE DATA:      
Weighted-average shares for basic EPS (in shares) 83.2 83.3 83.3
Weighted-average shares for diluted EPS (in shares) 83.6 83.4 83.3
Basic earnings per share (in dollars per share) $ 2.23 $ 2.06 $ 2.05
Diluted earnings per share (in dollars per share) $ 2.22 $ 2.05 $ 2.05
[1] Includes sales to related parties of $121.9 million, $390.8 million and $344.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.