Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Information

Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

	For the Year Ended December 31, 2024
	Americas		Europe		APMEA		Total
	(in millions)
Net sales
Net sales from external customers	$	1,664.9	$	453.3	$	134.0	$	2,252.2
Intersegment sales		8.9		23.0		84.7		116.6
Total segment net sales	$	1,673.8	$	476.3	$	218.7	$	2,368.8
Reconciliation of net sales
Elimination of intersegment sales								(116.6)
Total consolidated net sales							$	2,252.2
Less (a)
Segment cost of goods sold		831.5		312.6		154.3
Segment selling, general and administrative		409.5		99.6		37.2
Segment research and development		56.8		10.9		2.7
Segment earnings		376.0		53.2		24.5		453.7
Reconciliation of segment earnings to income before income taxes
Segment special items (b)								(7.5)
Corporate operating loss (c)								(55.8)
Consolidated operating income								390.4
Interest income								(8.9)
Interest expense								14.7
Other income, net								(1.4)
Income before income taxes							$	386.0

	For the Year Ended December 31, 2023
	Americas		Europe		APMEA		Total
	(in millions)
Net sales
Net sales from external customers	$	1,428.1	$	512.1	$	116.1	$	2,056.3
Intersegment sales		7.9		24.7		85.2		117.8
Total segment net sales	$	1,436.0	$	536.8	$	201.3	$	2,174.1
Reconciliation of net sales
Elimination of intersegment sales								(117.8)
Total consolidated net sales							$	2,056.3
Less (a)
Segment cost of goods sold		709.6		353.9		146.0
Segment selling, general and administrative		342.5		100.7		34.2
Segment research and development		55.4		9.8		1.8
Segment earnings		328.5		72.4		19.3		420.2
Reconciliation of segment earnings to income before income taxes
Segment special items (b)								(8.5)
Corporate operating loss (c)								(60.8)
Consolidated operating income								350.9
Interest income								(7.2)
Interest expense								8.2
Other expense, net								0.4
Income before income taxes							$	349.5

	For the Year Ended December 31, 2022
	Americas		Europe		APMEA		Total
	(in millions)
Net sales
Net sales from external customers	$	1,390.0	$	499.1	$	90.4	$	1,979.5
Intersegment sales		11.1		24.7		71.4		107.2
Total segment net sales	$	1,401.1	$	523.8	$	161.8	$	2,086.7
Reconciliation of net sales
Elimination of intersegment sales								(107.2)
Total consolidated net sales							$	1,979.5
Less (a)
Segment cost of goods sold		743.0		348.8		120.3
Segment selling, general and administrative		322.2		93.3		26.3
Segment research and development		49.8		8.3		1.3
Segment earnings		286.1		73.4		13.9		373.4
Reconciliation of segment earnings to income before income taxes
Segment special items (b)								(8.8)
Corporate operating loss (c)								(49.6)
Consolidated operating income								315.0
Interest income								(0.6)
Interest expense								7.0
Other expense, net								1.0
Income before income taxes							$	307.6

(a) The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. Significant segment expenses exclude certain expenses incurred and benefits recognized, see footnote (b). Intersegment expenses are included within the amounts shown.

(b) Segment special items are excluded from segment earnings and defined as nonrecurring and unusual expenses incurred or benefits recognized such as restructuring costs, acquisition-related costs, gain or loss on sale of assets, pension settlements and contingent consideration adjustments.

(c) Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs. Corporate special items are included within the amounts shown and consist of acquisition-related costs.

	For the Years Ended December 31,
	2024		2023		2022
	(in millions)
Capital expenditures
Americas	$	23.8	$	20.8	$	16.2
Europe		9.6		8.0		11.2
APMEA		1.9		0.9		0.7
Consolidated capital expenditures	$	35.3	$	29.7	$	28.1
Depreciation and amortization
Americas	$	42.9	$	31.5	$	27.4
Europe		9.2		9.6		10.3
APMEA		2.3		2.2		2.0
Consolidated depreciation and amortization	$	54.4	$	43.3	$	39.7
Identifiable assets (at end of period)
Americas	$	1,728.0	$	1,605.7	$	1,222.8
Europe		534.1		569.1		583.5
APMEA		134.9		134.6		124.6
Consolidated identifiable assets	$	2,397.0	$	2,309.4	$	1,930.9
Property, plant and equipment, net (at end of period)
Americas	$	182.9	$	174.0	$	124.1
Europe		67.0		69.9		68.4
APMEA		4.9		4.3		4.3
Consolidated property, plant and equipment, net	$	254.8	$	248.2	$	196.8

Schedule of U.S. net sales and U.S. property, plant and equipment of the Company's Americas segment

	December 31,
	2024		2023		2022
	(in millions)
U.S. net sales	$	1,558.5	$	1,324.4	$	1,301.2
U.S. property, plant and equipment, net (at end of year)	$	170.9	$	161.5	$	119.0