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Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Total Assets and Long-Lived Assets by Segment

The following table summarizes total assets by segment:

(in millions)			September 30, 2023						December 31, 2022
North America			$	5,476.1					$	5,161.7
International			1,336.4						1,181.5
Corporate			1,230.4						1,077.1
Inter-segment eliminations			(3,496.8)						(3,060.5)
Total assets			$	4,546.1					$	4,359.8

 The following table summarizes property, plant and equipment, net, by segment:

(in millions)			September 30, 2023						December 31, 2022
North America			$	728.6					$	672.1
International			86.9						87.3
Corporate			33.9						31.7
Total property, plant and equipment, net			$	849.4					$	791.1

The following table summarizes operating lease right-of-use assets by segment:

(in millions)			September 30, 2023						December 31, 2022
North America			$	414.9					$	349.0
International			167.6						154.1
Corporate			3.0						3.7
Total operating lease right-of-use assets			$	585.5					$	506.8

Segment Financial Information

The following table summarizes segment information for the three months ended September 30, 2023:

(in millions)			North America						International						Corporate						Eliminations						Consolidated
Net sales			$	1,023.7					$	253.4					$	—					$	—					$	1,277.1
Inter-segment sales			$	0.2					$	0.1					$	—					$	(0.3)					$	—
Inter-segment royalty expense (income)			9.5						(9.5)						—						—						—
Gross profit			430.4						143.3						—						—						573.7
Operating income (loss)			195.5						40.0						(52.3)						—						183.2
Income (loss) before income taxes			192.5						41.2						(83.0)						—						150.7
Depreciation and amortization (1)			$	25.1					$	6.3					$	13.5					$	—					$	44.9
Capital expenditures			28.8						7.7						4.1						—						40.6

(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the three months ended September 30, 2022:

(in millions)			North America						International						Corporate						Eliminations						Consolidated
Net sales			$	1,057.7					$	225.6					$	—					$	—					$	1,283.3
Inter-segment sales			$	0.5					$	0.2					$	—					$	(0.7)					$	—
Inter-segment royalty expense (income)			3.4						(3.4)						—						—						—
Gross profit			420.7						120.4						—						—						541.1
Operating income (loss)			205.0						32.6						(36.6)						—						201.0
Income (loss) from continuing operations before income taxes			203.0						33.9						(61.8)						—						175.1
Depreciation and amortization (1)			$	24.5					$	5.8					$	14.0					$	—					$	44.3
Capital expenditures			75.3						8.5						2.0						—						85.8

(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the nine months ended September 30, 2023:

(in millions)			North America						International						Corporate						Eliminations						Consolidated
Net sales			$	2,960.1					$	794.8					$	—					$	—					$	3,754.9
Inter-segment sales			$	0.8					$	0.5					$	—					$	(1.3)					$	—
Inter-segment royalty expense (income)			26.2						(26.2)						—						—						—
Gross profit			1,177.8						438.1						—						—						1,615.9
Operating income (loss)			505.6						118.1						(138.4)						—						485.3
Income (loss) before income taxes			499.1						116.9						(229.5)						—						386.5
Depreciation and amortization (1)			$	74.9					$	19.2					$	41.4					$	—					$	135.5
Capital expenditures			126.9						19.2						7.2						—						153.3

(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the nine months ended September 30, 2022:

(in millions)			North America						International						Corporate						Eliminations						Consolidated
Net sales			$	2,953.8					$	780.0					$	—					$	—					$	3,733.8
Inter-segment sales			$	1.4					$	0.9					$	—					$	(2.3)					$	—
Inter-segment royalty expense (income)			12.8						(12.8)						—						—						—
Gross profit			1,138.9						421.5						—						—						1,560.4
Operating income (loss)			506.5						135.2						(108.2)						—						533.5
Income (loss) from continuing operations before income taxes			503.6						135.0						(175.0)						—						463.6
Depreciation and amortization (1)			$	70.7					$	17.7					$	44.1					$	—					$	132.5
Capital expenditures			188.2						23.1						4.7						—						216.0

(1)Depreciation and amortization includes stock-based compensation amortization expense.

Long-Lived Assets by Geographic Region

The following table summarizes property, plant and equipment, net by geographic region:

(in millions)			September 30, 2023						December 31, 2022
United States			$	739.8					$	682.0
All other			109.6						109.1
Total property, plant and equipment, net			$	849.4					$	791.1

The following table summarizes operating lease right-of-use assets by geographic region:

(in millions)			September 30, 2023						December 31, 2022
United States			$	405.6					$	339.6
United Kingdom			135.7						122.9
All other			44.2						44.3
Total operating lease right-of-use assets			$	585.5					$	506.8

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