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Quarterly Information (Unaudited) | 12 Months Ended
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Dec. 31, 2025
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Information (Unaudited) | 18. Quarterly Information (Unaudited) The following is a summary of the quarterly results of operations for the year ended December 31, 2025:
| September 30, 2025(1) |  | June 30, 2025(1) |  | March 31, 2025(1)
Three months ended (In millions, except per share data) | As Reported | Immaterial Error Correction | Impact of LIFO Change | Adjusted |  | As Reported | Immaterial Error Correction | Impact of LIFO Change | Adjusted |  | As Reported | Immaterial Error Correction | Impact of LIFO Change | Adjusted
Net sales | $ | 1,426.8 |  | $ | — |  | $ | — |  | $ | 1,426.8 |  |  | $ | 1,500.9 |  | $ | — |  | $ | — |  | $ | 1,500.9 |  |  | $ | 1,072.6 |  | $ | — |  | $ | — |  | $ | 1,072.6 |
Cost of goods sold | 958.2 |  | (5.4) |  | (13.2) |  | 939.6 |  |  | 978.4 |  | 1.5 |  | 3.5 |  | 983.4 |  |  | 744.1 |  | (5.1) |  | (7.3) |  | 731.7 |
Gross profit | 468.6 |  | 5.4 |  | 13.2 |  | 487.2 |  |  | 522.5 |  | (1.5) |  | (3.5) |  | 517.5 |  |  | 328.5 |  | 5.1 |  | 7.3 |  | 340.9 |
Operating income | 310.2 |  | 5.4 |  | 13.2 |  | 328.8 |  |  | 354.0 |  | (1.5) |  | (3.5) |  | 349.0 |  |  | 155.6 |  | 5.1 |  | 7.3 |  | 168.0 |
Income before income taxes | 298.8 |  | 5.4 |  | 13.2 |  | 317.4 |  |  | 345.0 |  | (1.5) |  | (3.5) |  | 340.0 |  |  | 148.4 |  | 5.1 |  | 7.3 |  | 160.8 |
Provision for income taxes | 53.0 |  | 1.3 |  | 3.2 |  | 57.5 |  |  | 67.4 |  | (0.4) |  | (0.9) |  | 66.1 |  |  | 28.1 |  | 1.3 |  | 1.8 |  | 31.2 |
Net income | $ | 245.8 |  | $ | 4.1 |  | $ | 10.0 |  | $ | 259.9 |  |  | $ | 277.6 |  | $ | (1.1) |  | $ | (2.6) |  | $ | 273.9 |  |  | $ | 120.3 |  | $ | 3.8 |  | $ | 5.5 |  | $ | 129.6 |
Earnings per share - Basic | $ | 7.01 |  | $ | 0.12 |  | $ | 0.28 |  | $ | 7.41 |  |  | $ | 7.86 |  | $ | (0.03) |  | $ | (0.08) |  | $ | 7.75 |  |  | $ | 3.39 |  | $ | 0.11 |  | $ | 0.15 |  | $ | 3.65 |
Earnings per share - Diluted | $ | 6.98 |  | $ | 0.12 |  | $ | 0.28 |  | $ | 7.38 |  |  | $ | 7.82 |  | $ | (0.03) |  | $ | (0.08) |  | $ | 7.71 |  |  | $ | 3.37 |  | $ | 0.11 |  | $ | 0.15 |  | $ | 3.63 |
(1) In the fourth quarter of 2025, we changed the method of accounting for our inventories from LIFO to FIFO. The effects of the change in accounting principle have been retrospectively applied. Through our assessment of our change in method of inventory valuation, we identified and corrected immaterial errors in the capitalization of inventory variances for the respective quarters. In accordance with ASC 250, Accounting Changes and Error Corrections, the quarterly information for the first three quarters of 2025, which had been previously reported, has been adjusted on a retrospective basis to reflect that change in accounting principle. See Note 2 for further information. We have assessed the impact of the change in accounting principle for the year ended December 31, 2024, and have determined the adjustments on a quarterly basis are immaterial. The following table compares the amounts currently reported for the fourth quarter to the amounts that would have been reported under LIFO (in millions):
| For the Three Months Ended December 31, 2025
Three months ended (In millions, except per share data) | As Reported Under FIFO | Impact of LIFO Change | Calculated Under LIFO
Net sales | $ | 1,195.0 |  | $ | — |  | $ | 1,195.0 |
Cost of goods sold | 805.7 |  | 3.7 |  | 809.4 |
Gross profit | 389.3 |  | (3.7) |  | 385.6 |
Operating income | 195.8 |  | (3.7) |  | 192.1 |
Income before income taxes | 178.7 |  | (3.7) |  | 175.0 |
Provision for income taxes | 36.2 |  | (0.9) |  | 35.3 |
Net income | $ | 142.5 |  | $ | (2.8) |  | $ | 139.7 |
Earnings per share - Basic | $ | 4.08 |  | $ | (0.08) |  | $ | 4.00 |
Earnings per share - Diluted | $ | 4.07 |  | $ | (0.08) |  | $ | 3.99 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/270/tableOfContent + Details
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