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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, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenues $ 1,450.6 $ 1,307.0 $ 2,547.1 $ 2,199.6
Cost of goods sold 881.7 829.8 1,579.3 1,451.2
Selling and administrative expenses 189.3 163.7 356.1 305.9
Research and development expenses 9.3 6.7 18.5 13.5
Other operating income, net (7.2) (1.8) (9.5) (0.3)
Operating income 377.5 308.6 602.7 429.3
Interest expense, net 18.8 18.8 37.4 37.6
Interest income (13.8) (4.4) (21.7) (8.9)
Other non-operating income, net (0.1) (0.8) (0.4) (1.8)
Income from continuing operations before income taxes 372.6 295.0 587.4 402.4
Provision for income taxes 87.4 68.3 131.3 92.1
Income from continuing operations 285.2 226.7 456.1 310.3
Discontinued operations:        
Income (loss) before income taxes 480.2 (44.2) 502.1 (23.0)
Provision for (benefit from) income taxes 53.0 (12.1) 53.5 (9.0)
Income (loss) from discontinued operations 427.2 (32.1) 448.6 (14.0)
Net income $ 712.4 $ 194.6 $ 904.7 $ 296.3
Basic earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) $ 6.02 $ 4.46 $ 9.58 $ 6.08
Income (loss) from discontinued operations (in dollars per share) 9.01 (0.63) 9.42 (0.27)
Basic earnings per share (in dollars per share) 15.03 3.83 19.00 5.81
Diluted earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) 5.94 4.42 9.45 6.02
Income (loss) from discontinued operations (in dollars per share) 8.90 (0.63) 9.30 (0.27)
Diluted earnings per share (in dollars per share) $ 14.84 $ 3.79 $ 18.75 $ 5.75
Average shares outstanding:        
Basic (in shares) 47.3 50.7 47.5 50.9
Diluted (in shares) 47.9 51.2 48.2 51.4
Comprehensive income:        
Net income $ 712.4 $ 194.6 $ 904.7 $ 296.3
Other comprehensive income (loss):        
Foreign currency gains (losses) 5.0 1.1 (4.7) 14.1
Amortization of unrecognized net periodic benefit costs, net of tax 0.4 0.3 0.9 0.6
Other, net of tax 0.9 (2.3) 1.9 (0.4)
Other comprehensive income (loss) 6.3 (0.9) (1.9) 14.3
Comprehensive income $ 718.7 $ 193.7 $ 902.8 $ 310.6