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Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information by Segment

A summary of results by reportable segment for the years ended December 31 were as follows:

In millions						2024						2023						2022
Americas
Segment revenues						$	15,903.2					$	13,832.0					$	12,640.8
Segment cost of goods sold						(10,249.9)						(9,262.4)						(8,714.1)
Segment selling and administrative expenses						(2,614.2)						(2,123.7)						(1,857.7)
Segment Adjusted Operating Income						$	3,039.1					$	2,445.9					$	2,069.0
Segment depreciation and amortization						299.8						258.8						256.8
Segment other income/(expense), net						(20.6)						(35.1)						0.5
Segment Adjusted EBITDA						$	3,318.3					$	2,669.6					$	2,326.3
EMEA
Segment revenues						$	2,556.7					$	2,401.2					$	2,034.5
Segment cost of goods sold						(1,641.8)						(1,584.4)						(1,408.7)
Segment selling and administrative expenses						(442.1)						(392.3)						(315.5)
Segment Adjusted Operating Income						$	472.8					$	424.5					$	310.3
Segment depreciation and amortization						43.5						40.5						28.8
Segment other income/(expense), net						(11.2)						(0.3)						(1.0)
Segment Adjusted EBITDA						$	505.1					$	464.7					$	338.1
Asia Pacific
Segment revenues						$	1,378.3					$	1,444.4					$	1,316.4
Segment cost of goods sold						(843.2)						(935.2)						(886.9)
Segment selling and administrative expenses						(226.3)						(208.4)						(197.8)
Segment Adjusted Operating Income						$	308.8					$	300.8					$	231.7
Segment depreciation and amortization						17.9						18.3						17.2
Segment other income/(expense), net						2.6						2.2						(0.6)
Segment Adjusted EBITDA						$	329.3					$	321.3					$	248.3

In millions						2024						2023						2022
Reconciliation of Segment Adjusted EBITDA and Segment Adjusted Operating Income to earnings before income taxes
Total Segment Adjusted EBITDA						$	4,152.7					$	3,455.6					$	2,912.7
Total Segment depreciation and amortization						(361.2)						(317.6)						(302.9)
Total Segment other income/(expense), net						29.1						33.2						1.2
Total Segment Adjusted Operating Income						3,820.6						3,171.2						2,611.0
Restructuring costs						(5.0)						(15.1)						(20.7)
Non-cash adjustments for contingent consideration						25.0						49.3						46.9
Insurance settlements on property claims						—						10.0						25.0
Acquisition inventory step-up and backlog amortization						—						(18.5)						(1.2)
Unallocated corporate expenses						(340.5)						(302.9)						(242.1)
Interest expense						(238.4)						(234.5)						(223.5)
Other income/(expense), net						(19.9)						(92.2)						(23.3)
Earnings before income taxes						$	3,241.8					$	2,567.3					$	2,172.1
Capital Expenditures
Americas						$	244.7					$	217.2					$	230.5
EMEA						36.6						31.9						25.9
Asia Pacific						16.1						14.3						11.2
Capital expenditures from reportable segments						$	297.4					$	263.4					$	267.6
Corporate capital expenditures						73.2						37.3						24.2
Total capital expenditures						$	370.6					$	300.7					$	291.8

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

At December 31, a summary of long-lived assets by geographic area were as follows:

In millions						2024						2023
United States						$	1,936.0					$	1,618.6
Non-U.S.						691.1						666.7
Total						$	2,627.1					$	2,285.3

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

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X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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