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STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 889.9 $ 793.7 $ 1,395.1 $ 1,271.1
Other comprehensive (loss) income, net of tax:        
Foreign currency translation adjustments [1] (66.6) 19.9 (141.9) 60.1
Pension and other postretirement benefit adjustments:        
Amounts reclassified from AOCI [2] (4.4) (4.5) (8.9) (9.0)
Unrealized net gains on cash flow hedges:        
Amounts reclassified from AOCI [3] (0.9) (0.9) (1.8) (1.8)
Other comprehensive (loss) income (71.9) 14.5 (152.6) 49.3
Comprehensive income $ 818.0 $ 808.2 $ 1,242.5 $ 1,320.4
[1] The three months ended June 30, 2024 and 2023 include unrealized gains (losses), net of taxes, of $5.8 million and $(8.6) million, respectively, related to net investment hedges. The six months ended June 30, 2024 and 2023 include unrealized gains (losses), net of taxes, of $24.1 million and $(12.8) million, respectively, related to net investment hedges. See Note 12 for additional information.
[2] Net of taxes of $1.4 million and $1.3 million for the three months ended June 30, 2024 and 2023, respectively. Net of taxes of $2.9 million and $3.0 million for the six months ended June 30, 2024 and 2023, respectively.
[3] Net of taxes of $0.3 million for the three months ended June 30, 2024 and 2023. Net of taxes of $0.6 million for the six months ended June 30, 2024 and 2023.