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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Net sales $ 2,146.9 $ 1,839.9 $ 1,717.4
Cost of goods and services sold 1,379.1 1,234.2 1,172.0
Gross profit 767.8 605.7 545.4
Research and development 46.9 38.9 40.3
Selling, general and administrative expenses 302.0 272.7 262.9
Other expense (income) 12.0 (2.5) 1.9
Operating profit 406.9 296.6 240.3
Interest Expense 8.2 8.5 8.4
Interest income (1.4) (3.8) (2.1)
Other nonoperating (income) expense (1.2) 0.1 (6.7)
Income before income taxes 401.3 291.8 240.7
Income tax expense 72.5 59.0 41.4
Equity in net income of affiliated companies (17.4) (8.9) (7.6)
Net income $ 346.2 $ 241.7 $ 206.9
Net income per share:      
Basic (in dollars per share) $ 4.68 $ 3.27 $ 2.80
Diluted (in dollars per share) $ 4.57 $ 3.21 $ 2.74
Weighted average shares outstanding:      
Basic (in shares) 73.9 74.0 73.9
Diluted (in shares) 75.8 75.4 75.4