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STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income $ 793.7 $ 577.9 $ 1,271.1 $ 948.7
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustments [1] 19.9 (173.1) 60.1 (216.7)
Pension and other postretirement benefit adjustments:        
Amounts reclassified from AOCI [2] (4.5) 1.5 (9.0) 2.5
Unrealized net gains on cash flow hedges:        
Amounts reclassified from AOCI [3] (0.9) (1.0) (1.8) (2.0)
Other comprehensive income (loss) 14.5 (172.6) 49.3 (216.2)
Comprehensive income $ 808.2 $ 405.3 $ 1,320.4 $ 732.5
[1] The three months ended June 30, 2023 and 2022 include unrealized (losses) gains, net of taxes, of $(8.6) million and $30.8 million, respectively, related to net investment hedges. The six months ended June 30, 2023 and 2022 include unrealized (losses) gains, net of taxes, of $(12.8) million and $38.9 million, respectively, related to net investment hedges. See Note 14 for additional information.
[2] Net of taxes of $1.3 million and $(0.6) million for the three months ended June 30, 2023 and 2022, respectively. Net of taxes of $3.0 million and $(0.8) million for the six months ended June 30, 2023 and 2022, respectively.
[3] Net of taxes of $0.3 million and $0.4 million for the three months ended June 30, 2023 and 2022, respectively. Net of taxes of $0.6 million and $0.7 million for the six months months ended June 30, 2023 and 2022, respectively.