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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for (Benefit From) Income Taxes

The components of the provision for (benefit from) income taxes consisted of the following:

Years ended December 31 (dollars in millions)			2024						2023						2022
Current:
Federal			$	124.3					$	124.9					$	101.8
State			25.2						28.3						26.6
International			22.5						27.5						30.5
Deferred:
Federal			(4.4)						(4.8)						(136.9)
State			(0.5)						(1.8)						(34.1)
International			0.3						2.8						0.1
			$	167.4					$	176.9					$	(12.0)

Schedule of Difference Between Provision for (Benefit From) Income Taxes and U.S. Federal Statutory Rate

The provision for (benefit from) income taxes differs from the U.S. federal statutory rate due to the following items:

Years ended December 31			2024						2023						2022
Provision at U.S. federal statutory rate(1)			21.0		%				21.0		%				21.0		%
State taxes, net of federal benefit(1)			2.8						2.8						2.7
U.S pension plan settlement expense(1)			—						—						(29.5)
International income tax rate differential—China			(1.1)						(1.2)						(4.6)
International income tax rate differential—other			0.7						1.3						3.5
Research tax credits			(0.4)						(0.4)						(1.0)
Excess tax benefit on stock compensation			(0.5)						(0.4)						(0.5)
Other			1.4						1.0						3.0
			23.9		%				24.1		%				(5.4)		%

(1) Included in 2022 is tax effects of the pension plan settlement expense associated with the termination of the Plan. Refer to Note 13, “Pension and Other Postretirement Benefits” for more information. A tax benefit of $101.9 million on the pretax expense were reflected in computed tax provision at U.S. federal statutory rate and state taxes, net of federal tax benefit for 2022. In 2022, the tax benefit of $65.8 million or a 29.5 percent benefit related to the release of stranded tax effects in AOCL through the income statement was reflected in U.S. pension plan settlement expense.

Schedule of Components of Earnings Before Income Taxes

Components of earnings before income taxes were as follows:

Years ended December 31 (dollars in millions)			2024						2023						2022
U.S.			$	577.2					$	596.4					$	63.9
International			123.8						137.1						159.8
			$	701.0					$	733.5					$	223.7

Schedule of Tax Effects of Temporary Differences of Assets and Liabilities

The tax effects of temporary differences of assets and liabilities between income tax and financial reporting are as follows:

December 31 (dollars in millions)			2024												2023
			Assets						Liabilities						Assets						Liabilities
Employee benefits			$	16.7					$	—					$	12.9					$	—
Product liability and warranties			51.6						—						52.1						—
Inventories			2.0						—						3.0						—
Accounts receivable			12.0						—						13.3						—
Property, plant and equipment			—						49.8						—						52.4
Intangibles			—						58.6						—						62.4
Environmental liabilities			1.4						—						1.5						—
Undistributed foreign earnings			—						3.5						—						5.1
Tax loss and credit carryovers			9.7						—						12.3						—
All other			11.0						—						17.6						—
Valuation allowance			(6.1)						—						(11.7)						—
			$	98.3					$	111.9					$	101.0					$	119.9
Net liability									$	13.6											$	18.9

Schedule of Reconciliation of Tax Loss Carryovers, Credit Carryovers and Valuation Allowances

A reconciliation of the beginning and ending amounts of tax loss carryovers, credit carryovers and valuation allowances is as follows:

			Net Operating Losses and Tax Credits												Valuation Allowances
December 31 (dollars in millions)			2024						2023						2024						2023
Beginning balance			$	12.3					$	10.1					$	11.7					$	8.3
Change in balance			(2.6)						2.2						(5.6)						3.4
Ending balance			$	9.7					$	12.3					$	6.1					$	11.7

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized benefits is as follows:

(dollars in millions)			2024						2023
Balance at January 1			$	17.2					$	15.0
Change to tax positions from prior years			(1.0)						2.2
Balance at December 31			$	16.2					$	17.2

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