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Segment Results
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Results Segment Results
The Company is comprised of two reporting segments: North America and Rest of World. The Rest of World segment is primarily comprised of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products. Both segments primarily manufacture and market in their respective regions of the world. The following table presents the Company’s segment results:
(dollars in millions)Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net sales
North America$790.7 $722.3 $1,557.0 $1,475.0 
Rest of World244.8 244.2 471.7 463.3 
Inter-segment(11.2)(5.7)(25.6)(11.1)
$1,024.3 $960.8 $2,003.1 $1,927.2 
Segment earnings
North America(1)
$198.4 $199.1 $397.1 $387.7 
Rest of World(2)
25.9 28.3 43.1 33.6 
Inter-segment earnings elimination(0.1)— (0.4)— 
224.2 227.4 439.8 421.3 
Corporate expense(3)
(15.8)(14.0)(37.7)(32.6)
Interest expense(1.8)(4.5)(2.8)(8.5)
Earnings before income taxes206.6 208.9 399.3 380.2 
Provision for income taxes50.4 51.9 95.5 96.3 
Net earnings$156.2 $157.0 $303.8 $283.9 
Additional Information
(1) Adjustments: North America
includes pension settlement income of:$— $(5.0)$— $(5.0)
(2) Adjustments: Rest of World
includes impairment expense of:— — — 12.5 
(3) Adjustments: Corporate expense
includes pension settlement income of:— (1.0)— (1.0)
includes impairment expense of:— — — 3.1