INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Valuation Allowance [Line Items]

Summary of Valuation Allowance [Table Text Block]

The table below provides a rollforward of the valuation allowance:

	December 31, 2022		December 31, 2021		December 31, 2020
Beginning balance	$	149.2	$	167.6	$	145.4
Additions charged to expense	10.2		6.8		5.8
Reductions and other adjustments	(8.1)		(25.2)		16.4
Ending balance	$	151.3	$	149.2	$	167.6

Schedule of Income before Income Tax, Domestic and Foreign

The sources of income before taxes, classified between domestic and foreign entities, are as follows:

	2022		2021		2020
Domestic	$	1,321.0	$	2,580.6	$	1,846.5
Foreign	261.6		546.0		372.5
Total pre-tax income	$	1,582.6	$	3,126.6	$	2,219.1

Provision for Income Tax Expense (Benefit)

The components of income tax expense attributable to continuing operations are as follows:

	Years Ended December 31,
	2022		2021		2020
Current tax expense:
Federal	$	189.4	$	545.5	$	455.3
State	40.1		171.9		172.8
Foreign	65.3		107.7		81.0
	$	294.8	$	825.1	$	709.1
Deferred tax expense/(benefit):
Federal	$	7.8	$	(64.6)	$	(6.7)
State	(5.4)		(13.7)		(28.1)
Foreign	4.8		0.3		(12.2)
	7.2		(78.0)		(47.0)
Total income tax expense	$	302.0	$	747.1	$	662.1

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rates on earnings before income taxes are reconciled to statutory U.S. income tax rates as follows:

	Years Ended December 31,
	2022		2021		2020
Statutory U.S. rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of U.S. federal income tax effect	3.7		3.9		5.3
Foreign earnings taxed at lower rates than the statutory U.S. rate	(0.5)		(0.5)		(0.4)
Tax credits	(4.4)		(0.1)		—
Impairment of assets	2.7		—		4.0
Deferred tax adjustments	(1.9)		(0.1)		0.1
Other	(1.6)		(0.3)		(0.2)
Effective rate	19.0	%	23.9	%	29.8	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	December 31, 2022		December 31, 2021
Deferred tax assets:
Accounts receivable	$	22.5	$	22.3
Employee compensation and benefits	114.2		145.2
Operating lease liability	189.4		176.3
Acquisition and restructuring reserves	10.3		19.1
Capitalized R&D costs	54.4		—
Tax loss carryforwards	242.6		184.5
Other	116.4		92.7
Total gross deferred tax assets	749.8		640.1
Less: valuation allowance	(151.3)		(149.2)
Deferred tax assets, net of valuation allowance	$	598.5	$	490.9
Deferred tax liabilities:
Right of use asset	$	(172.7)	$	(166.9)
Intangible assets	(811.1)		(823.8)
Property, plant and equipment	(188.0)		(143.9)
Other	(87.9)		(47.6)
Total gross deferred tax liabilities	$	(1,259.7)	$	(1,182.2)
Net deferred tax liabilities	$	(661.2)	$	(691.3)

Reconciliation of Unrecognized Tax Benefits from Uncertain Tax Positions

The following table shows a reconciliation of the unrecognized income tax benefits, excluding interest and penalties, from uncertain tax positions for the years ended December 31, 2022, 2021 and 2020:

	2022		2021		2020
Balance as of January 1	$	52.4	$	48.8	$	31.7
Increase in reserve for tax positions taken in the current year	12.4		31.1		17.3
Increase in reserve from an acquisition's opening balance sheet	—		—		8.2
Decrease in reserve as a result of payments	(13.5)		(7.1)		(0.3)
Decrease in reserve as a result of lapses in the statute of limitations	(7.3)		(20.4)		(8.1)
Balance as of December 31	$	44.0	$	52.4	$	48.8