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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Net sales $ 2,125.9 $ 2,000.1 $ 6,499.6 $ 5,687.1
Cost of sales (1,607.5) (1,489.4) (4,859.3) (4,324.0)
Gross profit 518.4 510.7 1,640.3 1,363.1
Selling, general and administrative expenses (145.2) (144.5) (462.9) (435.7)
Other expense, net (12.9) (13.4) (44.7) (41.7)
Income from operations 360.3 352.8 1,132.7 885.7
Non-operating pension income 3.6 5.0 10.9 14.8
Interest expense, net (16.5) (23.9) (55.3) (72.2)
Income before taxes 347.4 333.9 1,088.3 828.3
Provision for income taxes (84.9) (83.2) (270.1) (203.7)
Net income $ 262.5 $ 250.7 $ 818.2 $ 624.6
Net income per common share:        
Basic $ 2.81 $ 2.64 $ 8.74 $ 6.58
Diluted 2.80 2.63 8.70 6.55
Dividends declared per common share $ 1.25 $ 1.00 $ 3.50 $ 3.00
Statements of Comprehensive Income:        
Net income $ 262.5 $ 250.7 $ 818.2 $ 624.6
Foreign currency translation adjustment 0.4 0.4
Changes in unrealized losses on marketable debt securities, net of tax of $0.1 million, $0.0 million, $0.5 million, and $0.1 million (0.6) 0.0 (2.1) (0.2)
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($0.4) million, ($0.8) million, ($0.7) million, and ($1.7) million 1.2 2.5 3.5 7.5
Other comprehensive income 0.6 2.9 1.4 7.7
Comprehensive income $ 263.1 $ 253.6 $ 819.6 $ 632.3