INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

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

	Year Ended December 31,
	2024		2023		2022
Domestic	$	629.7	$	504.0	$	1,097.9
Foreign	329.8		64.9		139.5
Total pre-tax income	$	959.5	$	568.9	$	1,237.4

Provision for Income Tax Expense (Benefit)

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

	Year Ended December 31,
	2024		2023		2022
Current tax expense:
Federal	$	125.9	$	183.1	$	150.8
State	46.2		38.9		25.4
Foreign	60.4		44.6		34.0
	$	232.5	$	266.6	$	210.2
Deferred tax (benefit) expense:
Federal	$	(6.3)	$	(63.1)	$	15.8
State	(11.1)		(31.6)		0.6
Foreign	(2.7)		16.6		7.3
	(20.1)		(78.1)		23.7
Total income tax expense	$	212.4	$	188.5	$	233.9

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:

	Year Ended December 31,
	2024		2023		2022
Statutory U.S. rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of U.S. federal income tax effect	2.8		4.0		4.2
Foreign earnings taxed at lower rates than the statutory U.S. rate	(1.7)		(2.2)		(0.7)
Tax credits	(2.5)		(3.8)		(5.4)
Impairment of assets	—		10.8		3.7
Limitation of officer compensation	0.7		1.7		1.2
Worthless stock loss	—		(2.6)		—
Deferred tax adjustments	0.9		4.6		(2.6)
Remeasurement of deferred taxes	1.3		(1.1)		(0.1)
Change in valuation allowance	(2.4)		(1.6)		0.2
Other	2.0		2.3		(2.6)
Effective rate	22.1	%	33.1	%	18.9	%

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,
	2024		2023
Deferred tax assets:
Accounts receivable	$	33.7	$	27.9
Employee compensation and benefits	70.8		81.7
Operating lease liability	199.3		191.4
Acquisition and restructuring reserves	8.9		9.2
Capitalized research and design costs	194.7		142.9
Tax loss carryforwards	224.0		246.9
Other	108.6		95.1
Total gross deferred tax assets	840.0		795.1
Less: valuation allowance	(127.2)		(150.2)
Deferred tax assets, net of valuation allowance	$	712.8	$	644.9
Deferred tax liabilities:
Right of use asset	$	(181.6)	$	(175.3)
Intangible assets	(626.7)		(614.8)
Property, plant and equipment	(177.7)		(163.5)
Other	(71.7)		(66.2)
Total gross deferred tax liabilities	$	(1,057.7)	$	(1,019.8)
Net deferred tax liabilities	$	(344.9)	$	(374.9)

Valuation Allowance [Line Items]

Summary of Valuation Allowance [Table Text Block]

The table below provides a rollforward of the valuation allowance:

	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	150.2	$	151.3	$	149.2
Movements charged to expense	(22.8)		(8.9)		10.2
Reductions and other adjustments	(0.2)		7.8		(8.1)
Ending balance	$	127.2	$	150.2	$	151.3

Schedule of Unrecognized Tax Benefits Roll Forward

The following table shows a reconciliation of the unrecognized income tax benefits, excluding interest and penalties, from uncertain tax positions:

	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	29.9	$	37.5	$	39.6
Increase in reserve for tax positions taken in the current year	2.2		1.8		1.8
Increase in reserve for tax positions taken in a prior period	3.8		10.4		10.6
Decrease in reserve for tax positions taken in a prior period	(3.4)		(4.0)		—
Decrease in reserve as a result of settlements	(0.1)		(7.2)		(10.4)
Decrease in reserve as a result of lapses in the statute of limitations	(0.2)		(8.6)		(4.1)
Ending balance	$	32.2	$	29.9	$	37.5