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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Income Statement [Abstract]    
Net sales $ 670.7 $ 491.5
Cost of goods and services sold 398.8 324.5
Gross profit 271.9 167.0
Research and development 12.2 10.7
Selling, general and administrative expenses 80.2 71.8
Other expense (income) 3.9 (3.5)
Operating profit 175.6 88.0
Interest expense 1.9 2.0
Interest income (0.1) (0.8)
Other nonoperating (income) expense (1.1) 0.3
Income before income taxes 174.9 86.5
Income tax expense 28.7 15.0
Equity in net income of affiliated companies (5.0) (2.8)
Net income $ 151.2 $ 74.3
Net income per share:    
Basic (in dollars per share) $ 2.04 $ 1.01
Diluted (in dollars per share) $ 1.99 $ 0.99
Weighted average shares outstanding:    
Basic (in shares) 73.9 73.9
Diluted (in shares) 75.8 75.5