INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Valuation Allowance [Line Items]

Summary of Valuation Allowance [Table Text Block]

The table below provides a rollforward of the valuation allowance:

	December 31, 2023		December 31, 2022		December 31, 2021
Beginning balance	$	151.3	$	149.2	$	167.6
Movements charged to expense	(8.9)		10.2		6.8
Reductions and other adjustments	7.8		(8.1)		(25.2)
Ending balance	$	150.2	$	151.3	$	149.2

Schedule of Income before Income Tax, Domestic and Foreign

The sources of income before taxes, classified between domestic and foreign entities, are as follows:

	2023		2022		2021
Domestic	$	504.0	$	1,097.9	$	2,455.0
Foreign	64.9		139.5		432.6
Total pre-tax income	$	568.9	$	1,237.4	$	2,887.6

Provision for Income Tax Expense (Benefit)

The components of income tax expense attributable to continuing operations are as follows:

	Years Ended December 31,
	2023		2022		2021
Current tax expense:
Federal	$	183.1	$	150.8	$	500.0
State	38.9		25.4		156.5
Foreign	44.6		34.0		71.9
	$	266.6	$	210.2	$	728.4
Deferred tax expense/(benefit):
Federal	$	(63.1)	$	15.8	$	(36.7)
State	(31.6)		0.6		(9.0)
Foreign	16.6		7.3		7.3
	(78.1)		23.7		(38.4)
Total income tax expense	$	188.5	$	233.9	$	690.0

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rates on earnings before income taxes are reconciled to statutory U.S. income tax rates as follows:

	Years Ended December 31,
	2023		2022		2021
Statutory U.S. rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of U.S. federal income tax effect	4.0		4.2		3.9
Foreign earnings taxed at lower rates than the statutory U.S. rate	(2.2)		(0.7)		(0.7)
Tax credits	(3.8)		(5.4)		(0.1)
Impairment of assets	10.8		3.7		—
Limitation of officer compensation	1.7		1.2		0.3
Worthless stock loss	(2.6)		—		—
Deferred tax adjustments	2.7		(2.4)		(0.1)
Other	1.5		(2.7)		(0.4)
Effective rate	33.1	%	18.9	%	23.9	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	December 31, 2023		December 31, 2022
Deferred tax assets:
Accounts receivable	$	27.9	$	19.4
Employee compensation and benefits	81.7		96.5
Operating lease liability	191.4		182.6
Acquisition and restructuring reserves	9.2		7.0
Capitalized R&D costs	142.9		44.1
Tax loss carryforwards	246.9		241.9
Other	95.1		95.1
Total gross deferred tax assets	795.1		686.6
Less: valuation allowance	(150.2)		(151.3)
Deferred tax assets, net of valuation allowance	$	644.9	$	535.3
Deferred tax liabilities:
Right of use asset	$	(175.3)	$	(170.2)
Intangible assets	(614.8)		(605.1)
Property, plant and equipment	(163.5)		(166.5)
Other	(66.2)		(62.7)
Total gross deferred tax liabilities	$	(1,019.8)	$	(1,004.5)
Net deferred tax liabilities	$	(374.9)	$	(469.2)

Reconciliation of Unrecognized Tax Benefits from Uncertain Tax Positions

The following table shows a reconciliation of the unrecognized income tax benefits, excluding interest and penalties, from uncertain tax positions for the years ended December 31, 2023, 2022 and 2021:

	2023		2022		2021
Balance as of January 1	$	37.5	$	39.6	$	18.6
Increase in reserve for tax positions taken in the current year	1.8		1.8		—
Increase in reserve for tax positions taken in a prior period	10.4		10.6		31.1
Decrease in reserve for tax positions taken in a prior period	(4.0)		—		(8.1)
Decrease in reserve as a result of settlements	(7.2)		(10.4)		—
Decrease in reserve as a result of lapses in the statute of limitations	(8.6)		(4.1)		(2.0)
Balance as of December 31	$	29.9	$	37.5	$	39.6