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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Sales Information By Reportable Segments

Segment results for the three and six months ended June 30, 2024 and 2023 and assets as of June 30, 2024 and December 31, 2023 based on the Company’s reportable segments are as follows (in millions):

Three Months Ended June 30,						North America						South America						Europe/Middle East						Asia/Pacific/Africa						Total Segments
2024
Net sales						$	837.8					$	348.9					$	1,902.9					$	157.0					$	3,246.6
Income from operations						76.7						12.6						288.5						12.4						390.2
Depreciation						17.4						9.6						33.5						4.7						65.2
Capital expenditures						18.3						8.2						70.2						1.3						98.0
2023
Net sales						$	996.8					$	598.6					$	1,990.8					$	236.5					$	3,822.7
Income from operations						136.9						121.4						295.2						20.9						574.4
Depreciation						15.2						8.9						27.7						4.7						56.5
Capital expenditures						34.4						13.5						62.8						1.0						111.7

Six Months Ended June 30,						North America						South America						Europe/Middle East						Asia/Pacific/Africa						Total Segments
2024
Net sales						$	1,567.4					$	652.3					$	3,631.9					$	323.7					$	6,175.3
Income from operations						119.1						28.8						571.4						20.4						739.7
Depreciation						34.6						19.0						66.1						8.8						128.5
Capital expenditures						35.9						23.5						131.6						2.0						193.0
2023
Net sales						$	1,919.9					$	1,102.4					$	3,694.6					$	439.3					$	7,156.2
Income from operations						239.0						220.9						534.6						39.0						1,033.5
Depreciation						30.1						16.7						54.5						8.8						110.1
Capital expenditures						71.7						33.8						129.8						1.7						237.0
Assets
As of June 30, 2024						$	1,973.2					$	1,266.9					$	3,314.5					$	903.5					$	7,458.1
As of December 31, 2023						1,883.2						1,394.9						3,017.4						875.2						7,170.7

Reconciliation of Income from Operations from Segment to Consolidated

A reconciliation from the segment information to the consolidated balances for income (loss) from operations and total assets is set forth below (in millions):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Segment income from operations			$	390.2					$	574.4					$	739.7					$	1,033.5
Impairment charges			(5.1)						—						(5.1)						—
Loss on business held for sale			(494.6)						—						(494.6)						—
Corporate expenses			(62.9)						(45.0)						(115.9)						(87.1)
Amortization of intangibles			(31.7)						(14.1)						(45.6)						(28.9)
Stock compensation expense			(7.4)						(12.8)						(15.4)						(26.3)
Restructuring expenses			(30.2)						(6.1)						(31.2)						(7.5)
Consolidated income (loss) from operations			$	(241.7)					$	496.4					$	31.9					$	883.7

Reconciliation of Assets from Segment to Consolidated

			June 30, 2024						December 31, 2023
Segment assets			$	7,458.1					$	7,170.7
Cash and cash equivalents			657.3						595.5
Investments in affiliates			518.3						512.7
Deferred tax assets, other current and noncurrent assets			1,506.9						1,500.1
Assets held for sale(1)			376.5						—
Intangible assets, net			689.9						308.8
Goodwill			2,407.8						1,333.4
Consolidated total assets			$	13,614.8					$	11,421.2

____________________________________

(1) Represents non-segment assets related to the Company's G&P business, which the Company has classified as held for sale as of June 30, 2024. Segment assets include the G&P assets held for sale. Refer to Note 3 for additional information.

X

- Definition

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

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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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.

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