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Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Total Assets and Long-Lived Assets by Segment

The following table summarizes total assets by segment:

(in millions)			September 30, 2024						December 31, 2023
North America			$	5,619.6					$	5,291.0
International			1,535.7						1,405.2
Corporate			1,727.3						1,269.5
Inter-segment eliminations			(4,314.6)						(3,411.8)
Total assets			$	4,568.0					$	4,553.9

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

(in millions)			September 30, 2024						December 31, 2023
North America			$	712.3					$	753.8
International			95.9						91.3
Corporate			35.6						33.2
Total property, plant and equipment, net			$	843.8					$	878.3

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

(in millions)			September 30, 2024						December 31, 2023
North America			$	422.1					$	453.5
International			192.1						180.2
Corporate			3.4						2.8
Total operating lease right-of-use assets			$	617.6					$	636.5

Segment Financial Information

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

(in millions)			North America						International						Corporate						Eliminations						Consolidated
Net sales			$	1,015.3					$	284.7					$	—					$	—					$	1,300.0
Inter-segment sales			$	—					$	(0.1)					$	—					$	0.1					$	—
Inter-segment royalty expense (income)			9.3						(9.3)						—						—						—
Gross profit			426.7						163.2						—						—						589.9
Operating income (loss)			193.3						51.7						(43.2)						—						201.8
Income (loss) before income taxes			190.7						54.5						(74.6)						—						170.6
Depreciation and amortization (1)			$	32.3					$	7.3					$	11.2					$	—					$	50.8
Capital expenditures			9.7						6.2						0.5						—						16.4

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

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 nine months ended September 30, 2024:

(in millions)			North America						International						Corporate						Eliminations						Consolidated
Net sales			$	2,894.8					$	828.2					$	—					$	—					$	3,723.0
Inter-segment sales			$	0.5					$	0.1					$	—					$	(0.6)					$	—
Inter-segment royalty expense (income)			26.0						(26.0)						—						—						—
Gross profit			1,189.3						467.4						—						—						1,656.7
Operating income (loss)			508.1						128.3						(129.8)						—						506.6
Income (loss) before income taxes			499.3						137.5						(228.2)						—						408.6
Depreciation and amortization (1)			$	94.5					$	20.6					$	34.1					$	—					$	149.2
Capital expenditures			46.5						21.3						8.6						—						76.4

(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) from continuing operations 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.

Long-Lived Assets by Geographic Region

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

(in millions)			September 30, 2024						December 31, 2023
United States			$	729.1					$	764.1
All other			114.7						114.2
Total property, plant and equipment, net			$	843.8					$	878.3

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

(in millions)			September 30, 2024						December 31, 2023
United States			$	415.0					$	444.2
United Kingdom			151.7						146.5
All other			50.9						45.8
Total operating lease right-of-use assets			$	617.6					$	636.5

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