XML 17 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Segment sales to external customers $ 7,730,300,000 $ 6,658,200,000 $ 6,964,300,000
Cost of sales (5,857,300,000) (5,288,800,000) (5,320,300,000)
Gross profit 1,873,000,000.0 1,369,400,000 1,644,000,000.0
Selling and administrative expenses (576,800,000) (539,600,000) (557,600,000)
Goodwill impairment 0 (55,200,000) 0
Other expense, net (54,800,000) (50,700,000) (32,700,000)
Income from operations 1,241,400,000 723,900,000 1,053,700,000
Non-operating pension income (expense) 19,700,000 2,300,000 (7,900,000)
Interest expense, net (152,400,000) (93,500,000) (128,800,000)
Income before taxes 1,108,700,000 632,700,000 917,000,000.0
Provision for income taxes (267,600,000) (171,700,000) (220,600,000)
Net income $ 841,100,000 $ 461,000,000.0 $ 696,400,000
Net income per common share:      
Basic $ 8.87 $ 4.86 $ 7.36
Diluted 8.83 4.84 7.34
Dividends declared per common share $ 4.00 $ 3.37 $ 3.16
Statements of Comprehensive Income:      
Net income $ 841,100,000 $ 461,000,000.0 $ 696,400,000
Foreign currency translation adjustment 400,000 0 0
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.0 million, $0.0 million, and $7.9 million for 2021, 2020, and 2019, respectively 0 0 10,200,000
Changes in unrealized (losses) gains on marketable debt securities, net of tax of $0.2 million, ($0.1) million, and $0.0 million for 2021, 2020, and 2019, respectively (500,000) 300,000 0
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($3.3) million, ($3.6) million, and ($3.2) million for 2021, 2020, and 2019, respectively 10,000,000.0 10,700,000 9,600,000
Changes in unfunded employee benefit obligations, net of tax of ($19.9) million, ($1.3) million, and $13.6 million for 2021, 2020, and 2019, respectively 59,400,000 4,000,000.0 (40,500,000)
Net current-period other comprehensive income (loss) 69,300,000 15,000,000.0 (20,700,000)
Comprehensive income $ 910,400,000 $ 476,000,000.0 $ 675,700,000