Equity Investment

9 Months Ended

Sep. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity Investment

NOTE 9. EQUITY INVESTMENT

Investment in joint venture reflects the equity interest in our 50% investment in our WAVE joint venture. The WAVE joint venture is reflected within the Mineral Fiber segment in our Condensed Consolidated Financial Statements using the equity method of accounting. Condensed financial statement data for WAVE is summarized below.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Net sales	$	117.8	$	116.9	$	343.4	$	356.3
Gross profit		68.5		64.0		200.9		180.1
Net earnings		49.1		46.7		144.5		130.0