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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Net sales $ 753.8 $ 771.3 $ 1,470.4 $ 1,491.3
Cost of goods and services sold 462.4 449.8 907.7 885.2
Gross profit 291.4 321.5 562.7 606.1
Research and development 16.5 14.4 33.6 29.0
Selling, general and administrative expenses 88.4 81.5 174.4 164.9
Other expense (income) (Note 15) 4.0 (2.8) 16.9 (5.9)
Operating profit 182.5 228.4 337.8 418.1
Interest expense, net 2.7 1.8 4.9 4.0
Interest income (5.0) (0.4) (9.8) (0.7)
Other nonoperating (income) expense (0.1) (0.2) (0.1) (0.2)
Income before income taxes and equity in net income of affiliated companies 184.9 227.2 342.8 415.0
Income tax expense 34.8 44.2 58.4 65.4
Equity in net income of affiliated companies (5.0) (5.5) (10.7) (12.7)
Net income $ 155.1 $ 188.5 $ 295.1 $ 362.3
Net income per share:        
Basic (in dollars per share) $ 2.08 $ 2.53 $ 3.96 $ 4.87
Diluted (in dollars per share) $ 2.06 $ 2.48 $ 3.91 $ 4.77
Weighted average shares outstanding:        
Basic (in shares) 74.3 74.4 74.4 74.4
Diluted (in shares) 75.4 75.8 75.5 75.9