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Business Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
 
The Company operates in two segments: North America and International. These segments are strategic business units that are managed separately based on geography. The North America segment consists of manufacturing and distribution subsidiaries and licensees located in the U.S., Canada and Mexico. The International segment consists of manufacturing and distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America (other than Mexico). The Company evaluates segment performance based on net sales, gross profit and operating income.

The Company's North America and International segment assets include investments in subsidiaries that are appropriately eliminated in the Company's accompanying Condensed Consolidated Financial Statements. The remaining inter-segment eliminations are comprised of intercompany accounts receivable and payable.
The following table summarizes segment information for the three months ended June 30, 2024:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$978.4 $255.2 $— $— $1,233.6 
Inter-segment sales$0.2 $— $— $(0.2)$— 
Inter-segment royalty expense (income)9.3 (9.3)— — — 
Gross profit409.8 144.4 — — 554.2 
Operating income (loss)180.4 31.8 (38.9)— 173.3 
Income (loss) before income taxes177.2 35.3 (72.0)— 140.5 
Depreciation and amortization (1)
$31.5 $6.7 $11.8 $— $50.0 
Capital expenditures16.0 8.9 3.6 — 28.5 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the three months ended June 30, 2023:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$1,016.8 $252.9 $— $— $1,269.7 
Inter-segment sales$0.3 $0.4 $— $(0.7)$— 
Inter-segment royalty expense (income)9.3 (9.3)— — — 
Gross profit403.4 138.9 — — 542.3 
Operating income (loss)174.1 33.9 (49.2)— 158.8 
Income (loss) before income taxes172.4 32.7 (79.7)— 125.4 
Depreciation and amortization (1)
$24.3 $6.4 $15.3 $— $46.0 
Capital expenditures52.3 6.8 1.5 — 60.6 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the six months ended June 30, 2024:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$1,879.5 $543.5 $— $— $2,423.0 
Inter-segment sales$0.5 $0.1 $— $(0.6)$— 
Inter-segment royalty expense (income)16.7 (16.7)— — — 
Gross profit762.6 304.2 — — 1,066.8 
Operating income (loss)314.8 76.6 (86.6)— 304.8 
Income (loss) before income taxes308.6 83.0 (153.6)— 238.0 
Depreciation and amortization (1)
$62.2 $13.2 $23.0 $— $98.4 
Capital expenditures36.7 15.1 8.2 — 60.0 
(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the six months ended June 30, 2023:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$1,936.4 $541.4 $— $— $2,477.8 
Inter-segment sales$0.6 $0.4 $— $(1.0)$— 
Inter-segment royalty expense (income)16.7 (16.7)— — — 
Gross profit747.4 294.8 — — 1,042.2 
Operating income (loss)310.1 78.1 (86.1)— 302.1 
Income (loss) from continuing operations before income taxes306.6 75.7 (146.5)— 235.8 
Depreciation and amortization (1)
$49.8 $12.9 $27.9 $— $90.6 
Capital expenditures98.1 11.5 3.1 — 112.7 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes property, plant and equipment, net by geographic region:
(in millions)
June 30, 2024December 31, 2023
United States
$751.3 $764.1 
All other116.3 114.2 
Total property, plant and equipment, net
$867.6 $878.3 

The following table summarizes operating lease right-of-use assets by geographic region:
(in millions)June 30, 2024December 31, 2023
United States$427.4 $444.2 
United Kingdom141.6 146.5 
All other49.5 45.8 
Total operating lease right-of-use assets$618.5 $636.5