| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (dollars in millions) | North America | | Rest of World | | Inter-segment Elimination | | Total Segments | | Less: Corporate Expenses | | Total | | Sales from external customers | $ | 743.4 | | | $ | 220.5 | | | $ | — | | | $ | 963.9 | | | $ | — | | | $ | 963.9 | | | Inter-segment sales | 5.3 | | | 6.2 | | | — | | | 11.5 | | | — | | | 11.5 | | | 748.7 | | | 226.7 | | | — | | | 975.4 | | | — | | | 975.4 | | | Elimination of Inter-segment sales | (5.3) | | | (6.2) | | | — | | | (11.5) | | | — | | | (11.5) | | | Net Sales | 743.4 | | | 220.5 | | | — | | | 963.9 | | | — | | | 963.9 | | | Cost of products sold | 445.7 | | | 142.8 | | | — | | | 588.5 | | | — | | | 588.5 | | | Gross Profit | 297.7 | | | 77.7 | | | — | | | 375.4 | | | — | | | 375.4 | | | Inter-segment Profit | — | | | — | | | — | | | — | | | — | | | — | | | Selling, general and administrative expenses | 113.4 | | | 57.4 | | | — | | | 170.8 | | | 21.8 | | | 192.6 | | | Other (income) expense, net | (0.9) | | | 0.6 | | | — | | | (0.3) | | | (0.9) | | | (1.2) | | | Earnings | $ | 185.2 | | | $ | 19.7 | | | $ | — | | | $ | 204.9 | | | $ | (20.9) | | | $ | 184.0 | | | Interest expense | | | | | | | | | | | (2.9) | | | Earnings before provision for income taxes | | | | | | | | | | | $ | 181.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2024 | | (dollars in millions) | North America | | Rest of World | | Inter-segment Elimination | | Total Segments | | Less: Corporate Expenses | | Total | | Sales from external customers | $ | 761.6 | | | $ | 217.2 | | | $ | — | | | $ | 978.8 | | | $ | — | | | $ | 978.8 | | | Inter-segment sales | 4.7 | | | 9.7 | | | — | | | 14.4 | | | — | | | 14.4 | | | 766.3 | | | 226.9 | | | — | | | 993.2 | | | — | | | 993.2 | | | Elimination of Inter-segment sales | (4.7) | | | (9.7) | | | — | | | (14.4) | | | — | | | (14.4) | | | Net Sales | 761.6 | | | 217.2 | | | — | | | 978.8 | | | — | | | 978.8 | | | Cost of products sold | 449.1 | | | 145.0 | | | — | | | 594.1 | | | — | | | 594.1 | | | Gross Profit | 312.5 | | | 72.2 | | | — | | | 384.7 | | | — | | | 384.7 | | | Inter-segment Profit | — | | | 0.3 | | | (0.3) | | | — | | | — | | | — | | | Selling, general and administrative expenses | 113.3 | | | 56.5 | | | — | | | 169.8 | | | 22.4 | | | 192.2 | | | Other expense (income), net | 0.5 | | | (1.2) | | | — | | | (0.7) | | | (0.5) | | | (1.2) | | | Earnings | $ | 198.7 | | | $ | 17.2 | | | $ | (0.3) | | | $ | 215.6 | | | $ | (21.9) | | | $ | 193.7 | | | Interest expense | | | | | | | | | | | (1.0) | | | Earnings before provision for income taxes | | | | | | | | | | | $ | 192.7 | |
Assets, depreciation and capital expenditures by segment | | | | | | | | | | | | | Assets | | | | | (dollars in millions) | March 31, 2025 | | December 31, 2024 | | North America | $ | 2,437.3 | | | $ | 2,315.2 | | | Rest of World | 557.7 | | | 592.1 | | | Total Segments | 2,995.0 | | | 2,907.3 | | Corporate(1) | 272.7 | | | 332.7 | | | Total | $ | 3,267.7 | | | $ | 3,240.0 | |
(1) The majority of corporate assets consist of cash, cash equivalents, marketable securities, and deferred income taxes. | | | | | | | | | | | | | | | | | Depreciation and amortization | Three Months Ended
March 31, | | | | (dollars in millions) | 2025 | | 2024 | | | | | | North America | $ | 15.4 | | | $ | 14.8 | | | | | | | Rest of World | 5.0 | | | 4.4 | | | | | | | Total Segments | 20.4 | | | 19.2 | | | | | | | Corporate | 0.3 | | | 0.4 | | | | | | | Total | $ | 20.7 | | | $ | 19.6 | | | | | |
| | | | | | | | | | | | | | | | | Capital expenditures | Three Months Ended
March 31, | | | | (dollars in millions) | 2025 | | 2024 | | | | | | North America | $ | 19.0 | | | $ | 19.8 | | | | | | | Rest of World | 2.3 | | | 2.1 | | | | | | | Total Segments | 21.3 | | | 21.9 | | | | | | | Corporate | — | | | 0.1 | | | | | | | Total | $ | 21.3 | | | $ | 22.0 | | | | | |
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