2024 Q3 Form 10-Q Financial Statement

#000162828024032782 Filed on July 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.498B $1.451B
YoY Change 9.65% 2.81%
Cost Of Revenue $1.010B $962.9M
YoY Change 7.67% 0.98%
Gross Profit $488.4M $488.2M
YoY Change 13.98% 6.64%
Gross Profit Margin 32.6% 33.64%
Selling, General & Admin $184.4M $168.5M
YoY Change 3.07% -7.06%
% of Gross Profit 37.76% 34.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.40M $25.20M
YoY Change -5.12% 20.57%
% of Gross Profit 4.18% 5.16%
Operating Expenses $184.4M $168.5M
YoY Change 3.07% -6.6%
Operating Profit $303.3M $320.1M
YoY Change 62.37% 15.39%
Interest Expense $8.900M $12.50M
YoY Change -20.54% -227.55%
% of Operating Profit 2.93% 3.91%
Other Income/Expense, Net -$400.0K -$300.0K
YoY Change 300.0%
Pretax Income $293.9M $307.0M
YoY Change 67.75% 16.42%
Income Tax $54.90M $61.10M
% Of Pretax Income 18.68% 19.9%
Net Earnings $239.0M $245.9M
YoY Change 83.28% 13.21%
Net Earnings / Revenue 15.95% 16.95%
Basic Earnings Per Share $6.71 $6.91
Diluted Earnings Per Share $6.68 $6.87
COMMON SHARES
Basic Shares Outstanding 35.63M shares 35.62M shares
Diluted Shares Outstanding 35.80M shares 35.80M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $255.7M $57.80M
YoY Change 80.58% -1.37%
Cash & Equivalents $243.1M $47.60M
Short-Term Investments $12.60M $10.20M
Other Short-Term Assets $69.60M $72.60M
YoY Change 6.58% 5.83%
Inventory $689.2M $776.3M
Prepaid Expenses
Receivables $816.5M $858.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.831B $1.765B
YoY Change 5.08% -3.37%
LONG-TERM ASSETS
Property, Plant & Equipment $754.8M $740.8M
YoY Change 25.36% -9.96%
Goodwill $219.9M $219.9M
YoY Change 21.02% 17.97%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $165.8M $161.3M
YoY Change 66.3% 10.94%
Total Long-Term Assets $1.482B $1.457B
YoY Change 29.15% 26.17%
TOTAL ASSETS
Total Short-Term Assets $1.831B $1.765B
Total Long-Term Assets $1.482B $1.457B
Total Assets $3.313B $3.222B
YoY Change 14.64% 8.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $477.5M $450.8M
YoY Change 38.09% -4.11%
Accrued Expenses $444.7M $393.0M
YoY Change 8.81% -17.32%
Deferred Revenue $4.200M $5.000M
YoY Change -14.29% -62.69%
Short-Term Debt $0.00 $147.0M
YoY Change
Long-Term Debt Due $312.7M $14.00M
YoY Change -13.52% -98.16%
Total Short-Term Liabilities $1.316B $1.105B
YoY Change 4.86% -36.59%
LONG-TERM LIABILITIES
Long-Term Debt $827.6M $1.127B
YoY Change -26.21% 37.8%
Other Long-Term Liabilities $184.4M $179.9M
YoY Change 17.01% -49.9%
Total Long-Term Liabilities $184.4M $179.9M
YoY Change 17.01% -84.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.316B $1.105B
Total Long-Term Liabilities $184.4M $179.9M
Total Liabilities $2.559B $2.645B
YoY Change -6.28% -9.39%
SHAREHOLDERS EQUITY
Retained Earnings $3.994B $3.796B
YoY Change 17.46% 14.72%
Common Stock $1.206B $1.199B
YoY Change 2.2% 2.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.375B $4.357B
YoY Change 0.73% 0.36%
Treasury Stock Shares
Shareholders Equity $754.0M $577.4M
YoY Change
Total Liabilities & Shareholders Equity $3.313B $3.222B
YoY Change 14.64% 8.07%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $239.0M $245.9M
YoY Change 83.28% 13.21%
Depreciation, Depletion And Amortization $20.40M $25.20M
YoY Change -5.12% 20.57%
Cash From Operating Activities $452.1M $184.0M
YoY Change 47.94% -5.88%
INVESTING ACTIVITIES
Capital Expenditures $41.20M $32.70M
YoY Change 3.78% -34.47%
Acquisitions
YoY Change
Other Investing Activities -$9.700M $6.200M
YoY Change 288.0% 376.92%
Cash From Investing Activities -$50.90M -$26.50M
YoY Change 20.62% -45.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -209.1M -160.7M
YoY Change 15.02% 19.13%
NET CHANGE
Cash From Operating Activities 452.1M 184.0M
Cash From Investing Activities -50.90M -26.50M
Cash From Financing Activities -209.1M -160.7M
Net Change In Cash 192.1M -3.200M
YoY Change 135.42% -126.67%
FREE CASH FLOW
Cash From Operating Activities $452.1M $184.0M
Capital Expenditures $41.20M $32.70M
Free Cash Flow $410.9M $151.3M
YoY Change 54.53% 3.91%

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements requires us to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangible assets and other long-lived assets, contingencies, guarantee obligations, indemnifications, and assumptions used in the calculation of income taxes, pension and post-retirement medical benefits, self-insurance and warranty reserves, and stock-based compensation, among others. These estimates and assumptions are based on our best estimates and judgment. </span></div>We evaluate these estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates and assumptions to be reasonable under the circumstances and will adjust such estimates and assumptions when facts and circumstances dictate. Volatile equity, foreign currency and commodity markets combine to increase the uncertainty inherent in such estimates and assumptions. Future events and their effects cannot be determined with precision and actual results could differ significantly from these estimates. Changes in these estimates will be reflected in the financial statements in future periods.
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52600000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47600000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51400000 usd
us-gaap Interest Paid Net
InterestPaidNet
25600000 usd
us-gaap Interest Paid Net
InterestPaidNet
27100000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
60200000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
88400000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements requires us to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangible assets and other long-lived assets, contingencies, guarantee obligations, indemnifications, and assumptions used in the calculation of income taxes, pension and post-retirement medical benefits, self-insurance and warranty reserves, and stock-based compensation, among others. These estimates and assumptions are based on our best estimates and judgment. </span></div>We evaluate these estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates and assumptions to be reasonable under the circumstances and will adjust such estimates and assumptions when facts and circumstances dictate. Volatile equity, foreign currency and commodity markets combine to increase the uncertainty inherent in such estimates and assumptions. Future events and their effects cannot be determined with precision and actual results could differ significantly from these estimates. Changes in these estimates will be reflected in the financial statements in future periods.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q2 us-gaap Revenues
Revenues
1451100000 usd
CY2023Q2 us-gaap Revenues
Revenues
1411400000 usd
us-gaap Revenues
Revenues
2498200000 usd
us-gaap Revenues
Revenues
2460700000 usd
CY2024Q2 lii Segment Profit And Loss
SegmentProfitAndLoss
318500000 usd
CY2023Q2 lii Segment Profit And Loss
SegmentProfitAndLoss
283100000 usd
lii Segment Profit And Loss
SegmentProfitAndLoss
485300000 usd
lii Segment Profit And Loss
SegmentProfitAndLoss
424800000 usd
CY2024Q2 lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
1600000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q2 us-gaap Revenues
Revenues
1451100000 usd
CY2023Q2 us-gaap Revenues
Revenues
1411400000 usd
us-gaap Revenues
Revenues
2498200000 usd
us-gaap Revenues
Revenues
2460700000 usd
CY2024Q2 lii Segment Profit And Loss
SegmentProfitAndLoss
318500000 usd
CY2023Q2 lii Segment Profit And Loss
SegmentProfitAndLoss
283100000 usd
lii Segment Profit And Loss
SegmentProfitAndLoss
485300000 usd
lii Segment Profit And Loss
SegmentProfitAndLoss
424800000 usd
CY2024Q2 lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
1600000 usd
CY2023Q2 lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
0 usd
lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
1600000 usd
lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
0 usd
CY2024Q2 lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
0 usd
CY2023Q2 lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
-4300000 usd
lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
0 usd
lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
-6400000 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
320100000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
278800000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
486900000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
418400000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
245900000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
245900000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
217200000 usd
us-gaap Net Income Loss
NetIncomeLoss
370200000 usd
us-gaap Net Income Loss
NetIncomeLoss
315200000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35600000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35500000 shares
CY2023Q2 lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
0 usd
lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
1600000 usd
lii Gain Loss On Previous Acquisition
GainLossOnPreviousAcquisition
0 usd
CY2023Q2 lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
-4300000 usd
lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
0 usd
lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
-6400000 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
320100000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
278800000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
486900000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
418400000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
245900000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
245900000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
217200000 usd
us-gaap Net Income Loss
NetIncomeLoss
370200000 usd
us-gaap Net Income Loss
NetIncomeLoss
315200000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35600000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35500000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35800000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35600000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.91
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.91
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.12
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
10.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.88
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.87
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.85
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35800000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35600000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.91
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.91
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.12
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
10.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.88
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.87
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.85
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2024Q2 lii Operating Lease Right Of Use Asset Percentage Related To Leases Of Real Estate
OperatingLeaseRightOfUseAssetPercentageRelatedToLeasesOfRealEstate
0.78
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2024Q2 lii Operating Lease Right Of Use Asset Percentage Related To Leases Of Real Estate
OperatingLeaseRightOfUseAssetPercentageRelatedToLeasesOfRealEstate
0.78
CY2024Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
46300000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
45400000 usd
CY2024Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
106500000 usd
CY2023Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
97400000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
152800000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
142800000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
142800000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
18000000.0 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
28500000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-200000 usd
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-300000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
152800000 usd
CY2024Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
46300000 usd
CY2024Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
106500000 usd
CY2023Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
97400000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
152800000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
142800000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
142800000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
18000000.0 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
28500000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-200000 usd
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-300000 usd
CY2024Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
4000000000.0 usd
CY2021Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
546000000 usd
CY2024Q2 us-gaap Revenues
Revenues
1451100000 usd
CY2023Q2 us-gaap Revenues
Revenues
1411400000 usd
us-gaap Revenues
Revenues
2498200000 usd
us-gaap Revenues
Revenues
2460700000 usd
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2000000.0 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2200000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5000000.0 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4700000 usd
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
7800000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
7500000 usd
CY2024Q2 lii Contractwith Customer Asset Liability Net
ContractwithCustomerAssetLiabilityNet
-10800000 usd
CY2023Q4 lii Contractwith Customer Asset Liability Net
ContractwithCustomerAssetLiabilityNet
-10000000.0 usd
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
400000 usd
CY2024Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
4000000000.0 usd
CY2021Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
546000000 usd
CY2024Q2 us-gaap Revenues
Revenues
1451100000 usd
CY2023Q2 us-gaap Revenues
Revenues
1411400000 usd
us-gaap Revenues
Revenues
2498200000 usd
us-gaap Revenues
Revenues
2460700000 usd
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2000000.0 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2200000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5000000.0 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4700000 usd
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
7800000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
7500000 usd
CY2024Q2 lii Contractwith Customer Asset Liability Net
ContractwithCustomerAssetLiabilityNet
-10800000 usd
CY2023Q4 lii Contractwith Customer Asset Liability Net
ContractwithCustomerAssetLiabilityNet
-10000000.0 usd
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
400000 usd
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4200000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
555100000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
509400000 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
10900000 usd
CY2024Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
346500000 usd
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4200000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
555100000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
509400000 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
10900000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
9600000 usd
CY2024Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
346500000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
314200000 usd
CY2024Q2 us-gaap Inventory Gross
InventoryGross
912500000 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
833200000 usd
CY2024Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
136200000 usd
CY2023Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
134100000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
776300000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
699100000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
314200000 usd
CY2024Q2 us-gaap Inventory Gross
InventoryGross
912500000 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
833200000 usd
CY2024Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
136200000 usd
CY2023Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
134100000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
776300000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
699100000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
222100000 usd
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
2200000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
219900000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
222100000 usd
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
2200000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
219900000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6700000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13800000 usd
CY2024Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
400000 usd
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
500000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6700000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13300000 usd
CY2024Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
400000 usd
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
500000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
800000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1100000 usd
CY2024Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2200000 usd
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2200000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
4300000 usd
CY2024Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1900000 usd
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2400000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3800000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
4700000 usd
CY2024Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-200000 usd
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CY2024Q2 us-gaap Unrecognized Tax Benefits
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4400000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
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9600000 usd
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CY2024Q2 us-gaap Commercial Paper
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CY2024Q2 us-gaap Unrecognized Tax Benefits
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CY2024Q2 us-gaap Commercial Paper
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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