XML 40 R30.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Total Assets and Long-Lived Assets by Segment

The following table summarizes total assets by segment:

(in millions)			June 30, 2024						December 31, 2023
North America			$	5,505.0					$	5,291.0
International			1,402.5						1,405.2
Corporate			1,581.0						1,269.5
Inter-segment eliminations			(3,910.5)						(3,411.8)
Total assets			$	4,578.0					$	4,553.9

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

(in millions)			June 30, 2024						December 31, 2023
North America			$	734.3					$	753.8
International			95.9						91.3
Corporate			37.4						33.2
Total property, plant and equipment, net			$	867.6					$	878.3

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

(in millions)			June 30, 2024						December 31, 2023
North America			$	435.0					$	453.5
International			179.8						180.2
Corporate			3.7						2.8
Total operating lease right-of-use assets			$	618.5					$	636.5

Segment Financial Information

The following table summarizes segment information for the three months ended June 30, 2024:

(in millions)			North America						International						Corporate						Eliminations						Consolidated
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 profit			409.8						144.4						—						—						554.2
Operating income (loss)			180.4						31.8						(38.9)						—						173.3
Income (loss) before income taxes			177.2						35.3						(72.0)						—						140.5
Depreciation and amortization (1)			$	31.5					$	6.7					$	11.8					$	—					$	50.0
Capital expenditures			16.0						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 America						International						Corporate						Eliminations						Consolidated
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 profit			403.4						138.9						—						—						542.3
Operating income (loss)			174.1						33.9						(49.2)						—						158.8
Income (loss) before income taxes			172.4						32.7						(79.7)						—						125.4
Depreciation and amortization (1)			$	24.3					$	6.4					$	15.3					$	—					$	46.0
Capital expenditures			52.3						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 America						International						Corporate						Eliminations						Consolidated
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 profit			762.6						304.2						—						—						1,066.8
Operating income (loss)			314.8						76.6						(86.6)						—						304.8
Income (loss) before income taxes			308.6						83.0						(153.6)						—						238.0
Depreciation and amortization (1)			$	62.2					$	13.2					$	23.0					$	—					$	98.4
Capital expenditures			36.7						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 America						International						Corporate						Eliminations						Consolidated
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 profit			747.4						294.8						—						—						1,042.2
Operating income (loss)			310.1						78.1						(86.1)						—						302.1
Income (loss) from continuing operations before income taxes			306.6						75.7						(146.5)						—						235.8
Depreciation and amortization (1)			$	49.8					$	12.9					$	27.9					$	—					$	90.6
Capital expenditures			98.1						11.5						3.1						—						112.7

(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)			June 30, 2024						December 31, 2023
United States			$	751.3					$	764.1
All other			116.3						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, 2024						December 31, 2023
United States			$	427.4					$	444.2
United Kingdom			141.6						146.5
All other			49.5						45.8
Total operating lease right-of-use assets			$	618.5					$	636.5

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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
-SubTopic 10
-Section 50
-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

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration