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CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
NET SALES [1] $ 453.5 $ 432.6 $ 870.0 $ 859.2
Cost of sales 322.5 300.7 628.5 615.5
GROSS MARGIN 131.0 131.9 241.5 243.7
OPERATING EXPENSES AND INCOME        
Selling, general and administrative expenses 46.1 49.1 92.0 92.4
Research, development and engineering expenses 10.7 10.4 19.8 20.5
Equity, royalty and interest income from investees 7.5 8.2 16.7 18.6
Other operating (income) expense, net 0.0 0.8 (0.2) 1.0
OPERATING INCOME 81.7 79.8 146.6 148.4
Interest expense 8.5 10.5 16.9 21.0
Other income, net 3.5 2.6 3.8 2.8
INCOME BEFORE INCOME TAXES 76.7 71.9 133.5 130.2
Income tax expense 16.8 15.7 28.9 28.5
NET INCOME $ 59.9 $ 56.2 $ 104.6 $ 101.7
PER SHARE DATA:        
Weighted-average shares for basic EPS (in shares) 82.5 83.4 82.6 83.4
Weighted-average shares for diluted EPS (in shares) 83.0 83.7 83.1 83.7
Basic earnings per share (in dollars per share) $ 0.73 $ 0.67 $ 1.27 $ 1.22
Diluted earnings per share (in dollars per share) $ 0.72 $ 0.67 $ 1.26 $ 1.22
[1] Includes sales to related parties of $14.8 million and $28.5 million for the three and six months ended June 30, 2025, respectively, compared with $17.4 million and $99.7 million for the three and six months ended June 30, 2024, respectively.