XML 9 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Net sales $ 435.0 $ 480.4 $ 935.2 $ 990.0
Cost of goods sold (308.1) (330.0) (652.6) (691.8)
Gross profit 126.9 150.4 282.6 298.2
Operating expenses:        
Selling, general and administrative (73.4) (105.6) (166.1) (201.8)
Research and development (12.2) (10.6) (24.0) (21.2)
Adjustment to fair value of contingent consideration (0.6) 0.0 (1.4) 0.0
Profit on disposal of property, plant and equipment 0.0 0.0 0.1 0.0
Total operating expenses (86.2) (116.2) (191.4) (223.0)
Operating income 40.7 34.2 91.2 75.2
Other income, net 0.9 2.7 3.6 6.4
Interest income/(expense), net 2.1 (0.3) 4.2 0.0
Income before income tax expense 43.7 36.6 99.0 81.6
Income tax expense (12.5) (7.7) (26.4) (19.5)
Net income $ 31.2 $ 28.9 $ 72.6 $ 62.1
Earnings per share:        
Basic $ 1.25 $ 1.16 $ 2.91 $ 2.5
Diluted $ 1.24 $ 1.16 $ 2.89 $ 2.48
Weighted average shares outstanding (in thousands):        
Basic 24,937 24,868 24,918 24,835
Diluted 25,097 24,980 25,091 25,010