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STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net income $ 505.2 $ 477.4
Other comprehensive (loss) income, net of tax:    
Foreign currency translation adjustments [1] (75.3) 40.2
Pension and other postretirement benefit adjustments:    
Amounts reclassified from AOCI [2] (4.5) (4.5)
Unrealized net gains on cash flow hedges:    
Amounts reclassified from AOCI [3] (0.9) (0.9)
Other comprehensive (loss) income (80.7) 34.8
Comprehensive income $ 424.5 $ 512.2
[1] The three months ended March 31, 2024 and 2023 include unrealized gains (losses), net of taxes, of $18.3 million and $(4.2) million, respectively, related to net investment hedges. See Note 12 for additional information.
[2] Net of taxes of $1.5 million and $1.7 million for the three months ended March 31, 2024 and 2023, respectively.
[3] Net of taxes of $0.3 million for the three months ended March 31, 2024 and 2023.