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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Net sales $ 548.0 $ 456.1 $ 1,566.7 $ 1,369.3
Cost of goods and services sold 353.4 308.3 1,010.0 916.8
Gross profit 194.6 147.8 556.7 452.5
Research and development 12.5 9.3 34.0 28.7
Selling, general and administrative expenses 76.2 64.8 225.7 203.7
Other expense (income) (Note 15) 6.7 6.4 6.2 1.6
Operating profit 99.2 67.3 290.8 218.5
Interest expense 2.1 2.1 6.1 6.4
Interest income (0.2) (1.0) (1.2) (2.5)
Other nonoperating (income) expense (0.4) 1.3 (0.3) 0.2
Income before income taxes 97.7 64.9 286.2 214.4
Income tax expense 21.1 10.9 52.1 42.5
Equity in net income of affiliated companies (5.7) (2.3) (13.7) (5.9)
Net income $ 82.3 $ 56.3 $ 247.8 $ 177.8
Net income per share:        
Basic (in dollars per share) $ 1.11 $ 0.76 $ 3.35 $ 2.40
Diluted (in dollars per share) $ 1.09 $ 0.75 $ 3.28 $ 2.36
Weighted average shares outstanding:        
Basic (in shares) 73.9 74.0 73.9 73.9
Diluted (in shares) 75.8 75.5 75.6 75.3