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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Net sales $ 2,949.8 $ 2,886.9 $ 2,831.6
Cost of goods and services sold 1,820.6 1,750.7 1,655.8
Gross profit 1,129.2 1,136.2 1,175.8
Research and development 68.4 58.5 52.8
Selling, general and administrative expenses 353.4 316.9 362.8
Other expense (income) (Note 16) 31.4 26.8 7.9
Operating profit 676.0 734.0 752.3
Interest expense 9.0 7.9 8.2
Interest income (28.0) (5.1) (1.0)
Other nonoperating (income) expense (3.0) 51.3 (3.8)
Income before income taxes and equity in net income of affiliated companies 698.0 679.9 748.9
Income tax expense 122.3 114.7 107.2
Equity in net income of affiliated companies (17.7) (20.7) (20.1)
Net income $ 593.4 $ 585.9 $ 661.8
Net income per share:      
Basic (in dollars per share) $ 7.98 $ 7.87 $ 8.89
Diluted (in dollars per share) $ 7.88 $ 7.73 $ 8.67
Weighted average shares outstanding:      
Basic (in shares) 74.3 74.4 74.4
Diluted (in shares) 75.3 75.8 76.3