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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Earnings before income taxes for the years ended December 31 were taxed within the following jurisdictions:

In millions			2024						2023						2022
United States			$	1,871.9					$	1,690.7					$	1,312.3
Non-U.S.			1,369.9						876.6						859.8
Total			$	3,241.8					$	2,567.3					$	2,172.1

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the Provision for income taxes for the years ended December 31 were as follows:

In millions						2024						2023						2022
Current tax expense (benefit):
United States						$	500.4					$	377.6					$	180.4
Non-U.S.						256.3						174.3						127.7
Total:						756.7						551.9						308.1
Deferred tax expense (benefit):
United States						(128.2)						(18.8)						66.5
Non-U.S.						(0.9)						(34.7)						1.3
Total:						(129.1)						(53.5)						67.8
Total tax expense (benefit):
United States						372.2						358.8						246.9
Non-U.S.						255.4						139.6						129.0
Total						$	627.6					$	498.4					$	375.9

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The Provision for income taxes differs from the amount of income taxes determined by applying the applicable U.S. statutory income tax rate to pretax income, as a result of the following differences:

						Percent of pretax income
						2024						2023						2022
Statutory U.S. rate						21.0		%				21.0		%				21.0		%
Increase (decrease) in rates resulting from:
Non-U.S. tax rate differential						(1.5)						(1.9)						(2.8)
Tax on U.S. subsidiaries on non-U.S. earnings (a)						(0.3)						(0.4)						0.3
State and local income taxes (b)						2.3						3.2						1.1
Valuation allowances (c)						(0.9)						(1.2)						(0.7)
Stock based compensation						(1.3)						(1.2)						(0.8)
Other adjustments						0.1						(0.1)						(0.8)
Effective tax rate						19.4		%				19.4		%				17.3		%

(a)Net of foreign tax credits

(b)Net of changes in state valuation allowances

(c)Primarily federal and non-U.S., excludes state valuation allowances

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

A summary of the deferred tax accounts at December 31 were as follows:

In millions						2024						2023
Deferred tax assets:
Inventory and accounts receivable						$	12.1					$	11.8
Depreciable and amortizable assets						2.0						1.4
Operating lease liabilities						145.0						122.4
Postemployment and other benefit liabilities						254.6						239.2
Product liability						6.1						7.3
Other reserves and accruals						223.9						198.6
Net operating losses and credit carryforwards						220.9						287.4
Other						39.9						41.4
Gross deferred tax assets						904.5						909.5
Less: deferred tax valuation allowances						(110.3)						(164.0)
Deferred tax assets net of valuation allowances						$	794.2					$	745.5
Deferred tax liabilities:
Inventory and accounts receivable						$	(22.6)					$	(15.3)
Depreciable and amortizable assets						(978.5)						(1,073.2)
Operating lease right-of-use assets						(142.2)						(120.2)
Postemployment and other benefit liabilities						(13.8)						(13.0)
Other reserves and accruals						(2.5)						(2.2)
Undistributed earnings of foreign subsidiaries						(36.0)						(35.5)
Other						(3.2)						0.7
Gross deferred tax liabilities						(1,198.8)						(1,258.7)
Net deferred tax assets (liabilities)						$	(404.6)					$	(513.2)

Summary of Tax Credit Carryforwards [Table Text Block]

At December 31, 2024, the Company had the following operating loss, capital loss and tax credit carryforwards available to offset taxable income in prior and future years:

In millions						Amount						Expiration Period
U.S. Federal net operating loss carryforwards						$	67.7					2025-Unlimited
U.S. Federal credit carryforwards						77.1						2026-2043
U.S. State net operating loss carryforwards						2,224.1						2025-Unlimited
U.S. State credit carryforwards						26.0						2025-Unlimited
Non-U.S. net operating loss carryforwards						379.7						2025-Unlimited
Non-U.S. credit carryforwards						8.0						2025

Summary of Valuation Allowance

Activity associated with the Company's valuation allowance is as follows:

In millions						2024						2023						2022
Beginning balance						$	164.0					$	199.8					$	258.6
Increase to valuation allowance						2.8						24.3						5.9
Decrease to valuation allowance						(44.4)						(57.8)						(65.1)
Write off against valuation allowance						(10.9)						(2.2)						—
Acquisition and purchase accounting						—						1.3						—
Accumulated other comprehensive income (loss)						(1.2)						(1.4)						0.4
Ending balance						$	110.3					$	164.0					$	199.8

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

In millions						2024						2023						2022
Beginning balance						$	84.9					$	82.4					$	65.2
Additions based on tax positions related to the current year						4.6						3.6						3.9
Additions based on tax positions related to prior years						8.1						0.6						22.5
Reductions based on tax positions related to prior years						(2.8)						(0.5)						(5.9)
Reductions related to settlements with tax authorities						(2.5)						(1.4)						(0.9)
Reductions related to lapses of statute of limitations						(3.5)						(1.0)						(0.6)
Translation (gain) loss						(2.3)						1.2						(1.8)
Ending balance						$	86.5					$	84.9					$	82.4

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