Annual report pursuant to Section 13 and 15(d)

Segment Information - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Detail)

v3.25.0.1
Segment Information - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Contribution margin      
Total Contribution margin $ 2,106.0 $ 2,047.2 $ 2,144.5
Selling, general, and administrative expenses excluding service fees to China independent service providers [1],[2],[3] 1,725.6 1,701.0 1,614.2
Other operating income (5.5) (10.2) (14.9)
Interest expense 218.3 165.9 139.3
Interest income 12.3 11.5 6.1
Other expense (income), net 10.5 (1.0) (12.8)
Income before income taxes 169.4 203.0 424.8
Income taxes (84.9) 60.8 103.5
Net income 254.3 142.2 321.3
Primary Reporting Segment [Member]      
Contribution margin      
Total Contribution margin 2,004.3 1,937.8 2,005.3
China [Member]      
Contribution margin      
Total Contribution margin 101.7 109.4 139.2
Other operating income $ (5.5) $ (10.2) $ (14.9)
[1] Contribution margin consists of net sales less cost of sales, Royalty overrides, and service fees to our independent service providers in China. For the China segment, contribution margin includes the portion of service fees to China independent service providers that are currently recorded in selling, general, and administrative expenses within the Company's accompanying consolidated statements of income, which totaled $149.8 million, $165.0 million, and $196.2 million for the years ended December 31, 2024, 2023, and 2022, respectively.
[2] In the second quarter of 2024, the Company, as part of its restructuring initiatives, which are described further in Note 14, Restructuring Activities, changed its contribution margin presentation for its China segment which now includes expenses related to service fees to the Company's independent service providers in China as described in the footnotes immediately above. Historically, the China contribution margin did not include the portion of service fees that are recognized in selling, general and administrative expenses in the Company’s accompanying consolidated statements of income. Historical information presented in the table above has been reclassified to conform with the current period contribution margin presentation. This change had no impact on the Company's accompanying consolidated statements of income and only impacts this segment note presentation.
[3] Selling, general, and administrative expenses exclude the portion of service fees to China independent service providers that are included in selling, general, and administrative expenses within the Company's accompanying consolidated statements of income as described in footnote (1) above.