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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income        
Revenues $ 1,525.9 $ 1,774.9 $ 2,632.0 $ 3,200.1
Cost of goods sold 995.7 1,170.1 1,785.3 2,130.2
Selling and administrative expenses 189.5 192.0 360.0 376.0
Research and development expenses 13.1 11.0 26.8 21.2
Other operating (income) expense, net 0.0 (1.8) 1.7 (3.5)
Operating income 327.6 403.6 458.2 676.2
Interest expense, net 18.8 22.5 37.6 45.0
Interest income (4.5) (0.6) (9.1) (0.8)
Other non-operating expense (income), net 0.2 2.3 (1.1) 2.5
Income from continuing operations before income taxes 313.1 379.4 430.8 629.5
Provision for income taxes 71.6 88.6 97.5 148.3
Income from continuing operations 241.5 290.8 333.3 481.2
Discontinued operations:        
(Loss) income before income taxes (62.3) 11.7 (51.4) 15.6
(Benefit from) provision for income taxes (15.4) 1.0 (14.4) 1.7
(Loss) income from discontinued operations (46.9) 10.7 (37.0) 13.9
Net income $ 194.6 $ 301.5 $ 296.3 $ 495.1
Basic earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) $ 4.75 $ 5.60 $ 6.53 $ 9.23
(Loss) income from discontinued operations (in dollars per share) (0.92) 0.21 (0.72) 0.27
Basic earnings per share (in dollars per share) 3.83 5.81 5.81 9.50
Diluted earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) 4.71 5.52 6.47 9.11
(Loss) income from discontinued operations (in dollars per share) (0.92) 0.21 (0.72) 0.26
Diluted earnings per share (in dollars per share) $ 3.79 $ 5.73 $ 5.75 $ 9.37
Average shares outstanding:        
Basic (in shares) 50.7 51.8 50.9 52.0
Diluted (in shares) 51.2 52.5 51.4 52.7
Comprehensive income:        
Net income $ 194.6 $ 301.5 $ 296.3 $ 495.1
Other comprehensive income (loss):        
Foreign currency gains (losses) 1.1 (40.8) 14.1 (37.3)
Amortization of unrecognized net periodic benefit costs, net of tax 0.3 1.0 0.6 2.0
Other, net of tax (2.3) (1.0) (0.4) (1.7)
Other comprehensive (loss) income (0.9) (40.8) 14.3 (37.0)
Comprehensive income $ 193.7 $ 260.7 $ 310.6 $ 458.1