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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net sales [1] $ 8,383.3 $ 7,802.4 $ 8,478.0
Cost of sales (6,600.2) (6,103.5) (6,387.4)
Gross profit 1,783.1 1,698.9 2,090.6
Selling and administrative expenses (610.3) (580.9) (608.6)
Other expense, net (71.5) (42.9) (61.3)
Income from operations 1,101.3 1,075.1 1,420.7
Non-operating pension income (expense) 4.5 (7.7) 14.5
Interest expense, net (41.4) (53.3) (70.4)
Income before taxes 1,064.4 1,014.1 1,364.8
Provision for income taxes (259.3) (248.9) (335.0)
Net income $ 805.1 $ 765.2 $ 1,029.8
Net income per common share:      
Basic $ 8.97 $ 8.52 $ 11.08
Diluted 8.93 8.48 11.03
Dividends declared per common share $ 5 $ 5 $ 4.75
Statements of Comprehensive Income:      
Net Income (Loss) $ 805.1 $ 765.2 $ 1,029.8
Foreign currency translation adjustment 0.0 0.1 0.0
Changes in unrealized gains (losses) on marketable debt securities, net of tax of ($X.X) million, ($0.6) million, and $0.5 million for 2024, 2023, and 2022, respectively 0.3 1.8 (1.7)
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($X.X) million, ($2.1) million, and ($1.5) million for 2024, 2023, and 2022, respectively 4.1 6.4 4.7
Changes in unfunded employee benefit obligations, net of tax of ($X.X) million, ($7.8) million, and $10.1 million for 2024, 2023, and 2022, respectively 23.1 23.2 (30.2)
Other comprehensive income 27.5 31.5 (27.2)
Comprehensive income $ 832.6 $ 796.7 $ 1,002.6
[1] Sales to foreign unaffiliated customers during the years ended December 31, 2024, 2023, and 2022 were $445.8 million, $402.6 million, and $512.9 million, respectively.