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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 747.4 $ 686.9 $ 2,217.8 $ 2,178.2
Cost of goods and services sold 459.1 418.9 1,366.8 1,304.1
Gross profit 288.3 268.0 851.0 874.1
Research and development 16.4 13.6 50.0 42.6
Selling, general and administrative expenses 89.0 66.3 263.4 231.2
Other expense (income) (Note 15) 5.6 1.9 22.5 (4.0)
Operating profit 177.3 186.2 515.1 604.3
Interest expense 2.9 2.2 7.8 6.2
Interest income (8.8) (1.5) (18.6) (2.2)
Other nonoperating (income) expense (3.8) 49.3 (3.9) 49.1
Income before income taxes and equity in net income of affiliated companies 187.0 136.2 529.8 551.2
Income tax expense 29.4 20.4 87.8 85.8
Equity in net income of affiliated companies (3.7) (4.8) (14.4) (17.5)
Net income $ 161.3 $ 120.6 $ 456.4 $ 482.9
Net income per share:        
Basic (in dollars per share) $ 2.17 $ 1.62 $ 6.13 $ 6.49
Diluted (in dollars per share) $ 2.14 $ 1.59 $ 6.05 $ 6.36
Weighted average shares outstanding:        
Basic (in shares) 74.3 74.4 74.4 74.4
Diluted (in shares) 75.3 75.7 75.5 75.9