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Shareholders' Equity (Narrative) (Details) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2022
Oct. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock repurchase program, authorized amount         $ 500,000,000
Stock acquired and retired (in shares)   0 1,698,227 156,184  
Treasury stock acquired (in dollars per share)     $ 140.89 $ 165.05  
Stock repurchased     $ 239,200,000 $ 25,800,000  
Dividends declared (in dollars per share)   $ 1.40 $ 1.38 $ 8.28  
Share-based compensation expense   $ 58,200,000 $ 22,500,000 $ 24,900,000  
Income tax benefit recognized for share-based compensation   10,500,000 5,400,000 6,000,000  
Fair value of shares and options vested   35,400,000 25,600,000 26,100,000  
Unrecognized compensation cost related to share-based compensation   $ 37,000,000      
Share-based compensation expected to recognize over a weighted average period, years   1 year 9 months 18 days      
Altra Merger Agreement          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based payment arrangement, accelerated cost $ 15,700,000        
Stock based compensation   $ 23,100,000      
SARs          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Expiration period   10 years      
SARs | Tranche one          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   5 years      
SARs | Tranche two          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   3 years      
Options and SAR's          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation expected to recognize over a weighted average period, years   1 year 7 months 6 days      
Stock based compensation   $ 7,400,000 6,100,000 5,600,000  
Compensation costs not yet recognized   $ 5,600,000      
Restricted Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation expected to recognize over a weighted average period, years   10 months 24 days      
Award vesting period   1 year      
Stock based compensation   $ 2,300,000 $ 1,400,000 $ 1,200,000  
Compensation costs not yet recognized   $ 1,200,000      
Weighted average grant date fair value (in dollars per share)   $ 134.71 $ 131.27 $ 144.73  
Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation expected to recognize over a weighted average period, years   1 year 10 months 24 days      
Stock based compensation   $ 24,700,000 $ 10,300,000 $ 9,700,000  
Compensation costs not yet recognized   $ 18,000,000      
Weighted average grant date fair value (in dollars per share)   $ 141.89 $ 147.70 $ 143.44  
Restricted Stock Units (RSUs) | Tranche one          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share based compensation granted percentage   33.00%      
Restricted Stock Units (RSUs) | Tranche two          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share based compensation granted percentage   33.00%      
Restricted Stock Units (RSUs) | Tranche three          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share based compensation granted percentage   33.00%      
Performance Share Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation expected to recognize over a weighted average period, years   1 year 10 months 24 days      
Award vesting period   3 years      
Expiration period   3 years      
Stock based compensation   $ 8,100,000 $ 4,700,000 $ 8,400,000  
Compensation costs not yet recognized   $ 12,200,000      
Weighted average grant date fair value (in dollars per share)   $ 235.77 $ 151.27 $ 120.19  
Potential payout as a percentage of target   100.00%      
Performance Share Units | Rexnord Transactions          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock based compensation     $ 4,300,000    
Performance Share Units | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Potential payout as a percentage of target   0.00%      
Performance Share Units | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Potential payout as a percentage of target   200.00%      
2019 Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Remaining number of shares authorized to be repurchased (in shares)   195,000,000.0      
2023 Plan | Common Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Authorized shares of common stock (in shares)   5,600,000      
Share available for future grant or payment under the various plans (in shares)   5,500,000