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BUSINESS SEGMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables present information about the Company’s reportable segments and reconcile adjusted EBITDA by segment, which is the Company’s measure of segment profit or loss, to income before income taxes on a consolidated basis for the periods presented:
| Year Ended December 31, 2024
(In millions) | EES |  | CSS |  | UBS |  | Reportable Segments Total
Net sales | $ | 8,546.8 |  | $ | 7,537.0 |  | $ | 5,735.0 |  | $ | 21,818.8
Less: |  |  |  |  |  |  |
Cost of goods sold (excluding depreciation and amortization) | 6,517.8 |  | 5,918.4 |  | 4,670.0 |  | 17,106.2
Selling, general and administrative payroll expenses(1)(3) | 854.6 |  | 614.1 |  | 244.9 |  | 1,713.6
Other segment items(2) | 456.9 |  | 383.4 |  | 176.7 |  | 1,017.0
Adjusted EBITDA | $ | 717.5 |  | $ | 621.1 |  | $ | 643.4 |  | $ | 1,982.0
Adjusted EBITDA margin % | 8.4 | % |  | 8.2 | % |  | 11.2 | % |  |
Reconciliation of adjusted EBITDA |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | 146.8
Other income, net |  |  |  |  |  |  | (50.9)
Stock-based compensation expense(3) |  |  |  |  |  |  | 14.1
Unallocated amounts (Corporate): |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | 36.4
Selling, general and administrative expenses |  |  |  |  |  |  | 561.5
Interest expense, net(4) |  |  |  |  |  |  | 364.9
Other income, net |  |  |  |  |  |  | (41.8)
Income before income taxes |  |  |  |  |  |  | $ | 951.0
(1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses.
(2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment.
(3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA.
(4) The reportable segments do not incur interest expense as these costs are centrally controlled through the Corporate treasury function.
| Year Ended December 31, 2023
(In millions) | EES |  | CSS |  | UBS |  | Reportable Segments Total
Net sales | $ | 8,610.3 |  | $ | 7,152.2 |  | $ | 6,622.7 |  | $ | 22,385.2
Less: |  |  |  |  |  |  |
Cost of goods sold (excluding depreciation and amortization) | 6,576.2 |  | 5,524.6 |  | 5,440.7 |  | 17,541.5
Selling, general and administrative payroll expenses(1)(3) | 872.2 |  | 594.0 |  | 275.5 |  | 1,741.7
Other segment items(2) | 434.5 |  | 349.8 |  | 167.2 |  | 951.5
Adjusted EBITDA | $ | 727.4 |  | $ | 683.8 |  | $ | 739.3 |  | $ | 2,150.5
Adjusted EBITDA margin % | 8.4 | % |  | 9.6 | % |  | 11.2 | % |  |
Reconciliation of adjusted EBITDA |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | 140.0
Other expense, net |  |  |  |  |  |  | 82.9
Stock-based compensation expense(3) |  |  |  |  |  |  | 14.2
Unallocated amounts (Corporate): |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | 41.3
Selling, general and administrative expenses |  |  |  |  |  |  | 548.6
Interest expense, net(4) |  |  |  |  |  |  | 389.3
Other income, net |  |  |  |  |  |  | (57.8)
Income before income taxes |  |  |  |  |  |  | $ | 992.0
(1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses.
(2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment.
(3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA.
(4) The reportable segments do not incur interest expense as these costs are centrally controlled through the Corporate treasury function.
| Year Ended December 31, 2022
(In millions) | EES |  | CSS |  | UBS |  | Reportable Segments Total
Net sales | $ | 8,823.3 |  | $ | 6,401.5 |  | $ | 6,195.3 |  | $ | 21,420.1
Less: |  |  |  |  |  |  |
Cost of goods sold (excluding depreciation and amortization) | 6,708.0 |  | 4,944.5 |  | 5,106.3 |  | 16,758.8
Selling, general and administrative payroll expenses(1)(3) | 822.1 |  | 516.7 |  | 264.0 |  | 1,602.8
Other segment items(2) | 441.9 |  | 341.3 |  | 147.7 |  | 930.9
Adjusted EBITDA | $ | 851.3 |  | $ | 599.0 |  | $ | 677.3 |  | $ | 2,127.6
Adjusted EBITDA margin % | 9.6 | % |  | 9.4 | % |  | 10.9 | % |  |
Reconciliation of adjusted EBITDA |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | 134.3
Other income, net |  |  |  |  |  |  | (1.3)
Stock-based compensation expense(3) |  |  |  |  |  |  | 17.6
Unallocated amounts (Corporate): |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  | 44.7
Selling, general and administrative expenses |  |  |  |  |  |  | 492.9
Interest expense, net(4) |  |  |  |  |  |  | 294.4
Other expense, net |  |  |  |  |  |  | 8.3
Income before income taxes |  |  |  |  |  |  | $ | 1,136.7
(1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses.
(2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment.
(3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA.
(4) The reportable segments do not incur interest expense as these costs are centrally controlled through the Corporate treasury function.

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- 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
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