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Condensed Combined Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]        
Revenues $ 274.5 $ 284.2 $ 563.8 $ 569.5
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] Product [Member] Product [Member] Product [Member] Product [Member]
Cost of products sold [1] $ 83.3 $ 87.9 $ 168.7 $ 181.9
Cost, Product and Service [Extensible Enumeration] Product [Member] Product [Member] Product [Member] Product [Member]
Gross Profit $ 191.2 $ 196.3 $ 395.1 $ 387.6
Operating expenses:        
Selling and administrative expense 66.9 55.8 129.1 109.0
Research and development expense 18.0 14.1 34.7 28.1
Other operating expenses 7.4 0.0 15.8 0.0
Total Operating Expenses 92.3 69.9 179.6 137.1
Operating Income 98.9 126.4 215.5 250.5
Interest expense (4.9) 0.0 (4.9) 0.0
Other income (expense), net (0.1) 2.1 (0.1) 3.1
Income Before Income Taxes 93.9 128.5 210.5 253.6
Income tax provision 14.3 20.6 32.1 40.4
Net Income $ 79.6 $ 107.9 $ 178.4 $ 213.2
Earnings per Share - Basic (in dollars per share) $ 1.38 $ 1.87 $ 3.09 $ 3.69
Earnings per Share - Diluted (in dollars per share) $ 1.38 $ 1.87 $ 3.09 $ 3.69
Number of Basic Shares Outstanding (in share) 57,797,841 57,797,841 57,797,841 57,797,841
Number of Diluted Shares Outstanding (in share) 57,797,841 57,797,841 57,797,841 57,797,841
[1] Includes costs of products sold from related party inventory purchases of $10.6 million and $10.0 million during the three month periods ended March 31, 2022 and 2021, respectively. Costs of products sold from related party inventory purchases were $22.1 million and $19.0 million during the six month periods ended March 31, 2022 and 2021, respectively.