Lennox International (LII) 10-Q24 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 15, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-15149
Entity Registrant Name	LENNOX INTERNATIONAL INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	42-0991521
Entity Address, Address Line One	2140 LAKE PARK BLVD.
Entity Address, City or Town	RICHARDSON
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75080
City Area Code	972
Local Phone Number	497-5000
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	LII
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,634,095
Entity Central Index Key	0001069202
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 47.6	$ 60.7
Short-term investments	10.2	8.4
Accounts and notes receivable, net of allowances of $16.1 and $14.4 in 2024 and 2023, respectively	858.6	594.6
Inventories, net	776.3	699.1
Other assets	72.6	70.7
Total current assets	1,765.3	1,433.5
Property, plant and equipment, net of accumulated depreciation of $936.5 and $910.8 in 2024 and 2023, respectively	740.8	720.4
Right-of-use assets from operating leases	271.6	213.6
Goodwill	219.9	222.1
Deferred income taxes	63	51.8
Other assets, net	161.3	156.9
Total assets	3,221.9	2,798.3
Current Liabilities:
Accounts payable	450.8	374.7
Accrued expenses	393	416.1
Income taxes payable	33.1	4.2
Commercial paper	147	150
Current maturities of long-term debt	14	12.1
Current operating lease liabilities	66.6	57.5
Total current liabilities	1,104.5	1,014.6
Long-term debt	1,126.8	1,143.1
Long-term operating lease liabilities	215.2	164.6
Pensions	18.1	22.5
Other liabilities	179.9	168.2
Total liabilities	2,644.5	2,513
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.01 par value, 200,000,000 shares authorized, 87,170,197 shares issued	0.9	0.9
Additional paid-in capital	1,197.9	1,184.6
Retained earnings	3,796	3,506.2
Accumulated other comprehensive loss	(60.8)	(56.9)
Treasury stock, at cost, 51,538,343 shares and 51,588,103 shares for 2024 and 2023, respectively	4,356.6	4,349.5
Total stockholders' equity	577.4	285.3
Total liabilities and stockholders' equity	$ 3,221.9	$ 2,798.3

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Allowances, accounts and notes receivable	$ 16.1	$ 14.4
Accumulated depreciation	$ 936.5	$ 910.8
Stockholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	87,170,197	87,170,197
Treasury stock, shares	51,538,343	51,588,103

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ 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	$ 1,451.1	$ 1,411.4	$ 2,498.2	$ 2,460.7
Cost of goods sold	962.9	953.6	1,670	1,696.2
Gross profit	488.2	457.8	828.2	764.5
Operating Expenses:
Selling, general and administrative expenses	168.5	181.3	339.2	348.8
Losses and other expenses, net	3.7	0.8	7.4	1.1
Gain on sale from previous dispositions	(1.6)	0	(1.6)	0
Income from equity method investments	(2.5)	(3.1)	(3.7)	(3.8)
Operating income	320.1	278.8	486.9	418.4
Pension settlements	0.3	0.1	0.3	0.3
Interest expense, net	12.5	15	24.3	29.2
Other expense, net	0.3	0	1.1	0
Net income before income taxes	307	263.7	461.2	388.9
Provision for income taxes	61.1	46.5	91	73.7
Net income	$ 245.9	$ 217.2	$ 370.2	$ 315.2
Earnings per share - Basic (in dollars per share)	$ 6.91	$ 6.12	$ 10.40	$ 8.88
Earnings per share - Diluted (in dollars per share)	$ 6.87	$ 6.10	$ 10.34	$ 8.85
Weighted average number of shares outstanding, basic (in shares)	35.6	35.5	35.6	35.5
Weighted average number of shares outstanding, diluted (in shares)	35.8	35.6	35.8	35.6

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 245.9	$ 217.2	$ 370.2	$ 315.2
Other comprehensive income (loss):
Foreign currency translation adjustments	(6.2)	7.5	(9.5)	14.3
Net change in pension and post-retirement liabilities	(1)	(0.6)	(1.1)	(0.7)
Reclassification of pension and post-retirement benefit losses into earnings	0.1	0.2	0.4	0.4
Pension settlements	0.3	0.1	0.3	0.3
Net change in fair value of cash flow hedges	5.2	(5.8)	5.9	0.5
Reclassification of cash flow hedge (gains) losses into earnings	(1.6)	0	0.4	0.4
Other comprehensive (loss) income before taxes	(3.2)	1.4	(3.6)	15.2
Tax benefit (expense)	0.3	1.4	(0.3)	(0.4)
Other comprehensive (loss) income, net of tax	(2.9)	2.8	(3.9)	14.8
Comprehensive income	$ 243	$ 220	$ 366.3	$ 330

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficit - USD ($) $ in Millions	Total	Common Stock Issued	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock at Cost
Beginning balance at Dec. 31, 2022	$ (203.1)	$ 0.9	$ 1,155.2	$ 3,070.6	$ (90.6)	$ (4,339.2)
Beginning balance (in shares) at Dec. 31, 2022						51,700,000
Net income	315.2			315.2
Dividends	(76.8)			(76.8)
Foreign currency translation adjustments	14.3				14.3
Stock-based compensation expense	13.8		13.8
Change in cash flow hedges, net of tax	0.5				0.5
Treasury shares reissued for common stock	1.9		0.3			$ 1.6
Treasury stock purchases	(3.2)					(3.2)
Ending balance at Jun. 30, 2023	62.6	0.9	1,169.3	3,309	(75.8)	$ (4,340.8)
Ending balance (in shares) at Jun. 30, 2023						51,700,000
Beginning balance at Mar. 31, 2023	(125.9)	0.9	1,161.1	3,130.9	(78.6)	$ (4,340.2)
Beginning balance (in shares) at Mar. 31, 2023						51,700,000
Net income	217.2			217.2
Dividends	(39.1)			(39.1)
Foreign currency translation adjustments	7.5				7.5
Pension and post-retirement liability changes, net of tax	(0.3)				(0.3)
Stock-based compensation expense	7.7		7.7
Change in cash flow hedges, net of tax	(4.4)				(4.4)
Treasury shares reissued for common stock	1.1		0.5			$ 0.6
Treasury stock purchases	(1.2)					(1.2)
Ending balance at Jun. 30, 2023	62.6	0.9	1,169.3	3,309	(75.8)	$ (4,340.8)
Ending balance (in shares) at Jun. 30, 2023						51,700,000
Beginning balance at Dec. 31, 2023	$ 285.3	0.9	1,184.6	3,506.2	(56.9)	$ (4,349.5)
Beginning balance (in shares) at Dec. 31, 2023	51,588,103					51,600,000
Net income	$ 370.2			370.2
Dividends	(80.4)			(80.4)
Foreign currency translation adjustments	(9.5)				(9.5)
Pension and post-retirement liability changes, net of tax	(0.6)				(0.6)
Stock-based compensation expense	13.3		13.3
Change in cash flow hedges, net of tax	6.2				6.2
Treasury shares reissued for common stock	2					$ 2
Treasury shares reissued for common stock (in shares)						(100,000)
Treasury stock purchases	(9.1)					$ (9.1)
Ending balance at Jun. 30, 2024	$ 577.4	0.9	1,197.9	3,796	(60.8)	$ (4,356.6)
Ending balance (in shares) at Jun. 30, 2024	51,538,343					51,500,000
Beginning balance at Mar. 31, 2024	$ 368.8	0.9	1,190.6	3,591.1	(57.9)	$ (4,355.9)
Beginning balance (in shares) at Mar. 31, 2024						51,500,000
Net income	245.9			245.9
Dividends	(41)			(41)
Foreign currency translation adjustments	(6.2)				(6.2)
Pension and post-retirement liability changes, net of tax	(0.7)				(0.7)
Stock-based compensation expense	6.4		6.4
Change in cash flow hedges, net of tax	4				4
Treasury shares reissued for common stock	1.3		0.9			$ 0.4
Treasury stock purchases	(1.1)					(1.1)
Ending balance at Jun. 30, 2024	$ 577.4	$ 0.9	$ 1,197.9	$ 3,796	$ (60.8)	$ (4,356.6)
Ending balance (in shares) at Jun. 30, 2024	51,538,343					51,500,000

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Deficit (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends	$ 1.15	$ 1.10	$ 2.25	$ 2.16
Pension and post-retirement liability changes, tax expense	200,000	0	200,000
Change in cash flow hedges, tax expense	$ 600,000	$ (1,400,000)	$ 100,000	$ (400,000)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 370.2	$ 315.2
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale from previous dispositions	1.6	0
Income from equity method investments	(3.7)	(3.8)
Provision for credit losses	3.4	3.8
Unrealized losses, net on derivative contracts	0.5	3.9
Stock-based compensation expense	13.3	13.8
Depreciation and amortization	49.2	40.5
Deferred income taxes	(13.4)	(18.9)
Pension expense	2	1.4
Pension contributions	(5.1)	(2)
Other items, net	(0.1)	(1.2)
Changes in assets and liabilities, net of effects of acquisitions and divestitures:
Accounts and notes receivable	(270.8)	(236.5)
Inventories	(78.9)	(100.4)
Other current assets	(2.5)	8.7
Accounts payable	76.2	45.4
Accrued expenses	(22.1)	45.6
Income taxes payable and receivable, net	40.1	4.1
Leases, net	1.8	3.3
Other, net	2.7	(6.2)
Net cash provided by operating activities	161.2	116.7
Cash flows from investing activities:
Proceeds from the disposal of property, plant and equipment	1.1	1.5
Purchases of property, plant and equipment	(62.2)	(85.3)
Net proceeds from previous disposition	4.1	0
Acquisitions, net of cash	1.8	0
(Purchases of) proceeds from short-term investments	(2)	1.5
Net cash used in investing activities	(57.2)	(82.3)
Cash flows from financing activities:
Asset securitization borrowings	0	140
Commercial paper borrowings	374	0
Commercial paper payments	(377)	0
Asset securitization payments	0	(90)
Long-term debt payments	(9.9)	(7.3)
Borrowings from credit facility	156.7	1,182
Payments on credit facility	(176.7)	(1,182)
Proceeds from employee stock purchases	2	1.9
Repurchases of common stock to satisfy employee withholding tax obligations	(9.1)	(3.2)
Cash dividends paid	(78.3)	(75.2)
Net cash used in financing activities	(118.3)	(33.8)
(Decrease) increase in cash and cash equivalents	(14.3)	0.6
Effect of exchange rates on cash and cash equivalents	1.2	(1.8)
Cash and cash equivalents, beginning of period	60.7	52.6
Cash and cash equivalents, end of period	47.6	51.4
Supplemental disclosures of cash flow information:
Interest paid	25.6	27.1
Income taxes paid (net of refunds)	$ 60.2	$ 88.4

General

General	6 Months Ended
General	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	1. General: References in this Quarterly Report on Form 10-Q to "we","our","us","LII" or the "Company" refer to Lennox International Inc. and its subsidiaries, unless the context requires otherwise. Basis of Presentation The accompanying unaudited Consolidated Balance Sheet as of June 30, 2024, the accompanying unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023, the accompanying unaudited Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023, the accompanying unaudited Consolidated Statements of Stockholders' Equity (Deficit) for the three and six months ended June 30, 2024 and 2023, and the accompanying unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 should be read in conjunction with our audited consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The accompanying consolidated financial statements contain all material adjustments, consisting principally of normal recurring adjustments, necessary for a fair presentation of our financial position, results of operations and cash flows. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to applicable rules and regulations, although we believe that the disclosures herein are adequate to make the information presented not misleading. The operating results for the interim periods are not necessarily indicative of the results that may be expected for a full year. Our fiscal quarterly periods are comprised of approximately 13 weeks, but the number of days per quarter may vary year-over-year. Our quarterly reporting periods usually end on the Saturday closest to the last day of March, June, and September. Our fourth quarter and fiscal year ends on December 31, regardless of the day of the week on which December 31 falls. For convenience, the 13-week periods comprising each fiscal quarter are denoted by the last day of the respective calendar quarter. Use of Estimates 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.

Reportable Business Segments

Reportable Business Segments	6 Months Ended
Reportable Business Segments	Jun. 30, 2024
Segment Reporting, Measurement Disclosures [Abstract]
Reportable Business Segments	2. Reportable Business Segments: We operate in two reportable business segments of the heating, ventilation, air conditioning and refrigeration (“HVACR”) industry. Our segments are organized primarily by the nature of the products and services we provide. The following table describes each segment: Segment Product or Services Markets Served Geographic Areas Home Comfort Solutions Furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, replacement parts and supplies Residential Replacement; United States Building Climate Solutions Unitary heating and air conditioning equipment, applied systems, controls, installation and service of commercial heating and cooling equipment, variable refrigerant flow commercial products, curb, curb adapters, drop box diffusers, HVAC recycling and salvage service, condensing units, unit coolers, fluid coolers, air cooled condensers, air handlers, process chillers, controls, compressorized racks Light Commercial; United States We use segment profit or loss as the primary measure of profitability to evaluate operating performance and to allocate capital resources. We define segment profit or loss as a segment’s income or loss from continuing operations before income taxes included in the accompanying Consolidated Statements of Operations, excluding certain items. The reconciliation in the table below details the items excluded. Our corporate costs include those costs related to corporate functions such as legal, internal audit, treasury, human resources, tax compliance and senior executive staff. Any intercompany sales and associated profit (and any other intercompany items) are eliminated from segment results. There were no significant intercompany eliminations for the periods presented. Segment Net Sales and Profit (Loss) Net sales and segment profit (loss) for each segment, along with a reconciliation of segment profit (loss) to Operating income, are shown below (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net sales Home Comfort Solutions $ 982.3 $ 936.2 $ 1,656.9 $ 1,617.2 Business Climate Solutions 468.8 407.5 841.3 716.1 Corporate and Other (1) — 67.7 — 127.4 $ 1,451.1 $ 1,411.4 $ 2,498.2 $ 2,460.7 Segment profit (loss) (2) Home Comfort Solutions $ 228.5 $ 202.6 $ 340.6 $ 313.7 Business Climate Solutions 114.0 103.0 192.2 153.0 Corporate and Other (24.0) (22.5) (47.5) (41.9) Total segment profit 318.5 283.1 485.3 424.8 Reconciliation to Operating income: Gain on sale from previous dispositions (1.6) — (1.6) — Items in Losses (gains) and other expenses, net that are excluded from segment profit (loss) (2) — 4.3 — 6.4 Operating income $ 320.1 $ 278.8 $ 486.9 $ 418.4 (1) The Corporate and Other segment included our European portfolio. In the fourth quarter of 2023 we completed the divestiture of our European operations. (2) We define segment profit (loss) as a segment's operating income included in the accompanying Consolidated Statements of Operations, excluding: ◦ The following items in Losses and other expenses, net: ▪ Net change in unrealized losses (gains) on unsettled futures contracts, ▪ Environmental liabilities and special litigation charges, and ▪ Other items, net ◦ Gain on sale from previous dispositions

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share: Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans. The computations of basic and diluted earnings per share were as follows (in millions, except per share data): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 245.9 $ 217.2 $ 370.2 $ 315.2 Weighted-average shares outstanding – basic 35.6 35.5 35.6 35.5 Add: Potential effect of dilutive securities attributable to stock-based payments 0.2 0.1 0.2 0.1 Weighted-average shares outstanding – diluted 35.8 35.6 35.8 35.6 Earnings per share – Basic: $ 6.91 $ 6.12 $ 10.40 $ 8.88 Earnings per share – Diluted: $ 6.87 $ 6.10 $ 10.34 $ 8.85 The following stock appreciation rights and restricted stock units were outstanding but not included in the diluted earnings per share calculation as the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Weighted-average number of shares — 0.2 — 0.2

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	4. Commitments and Contingencies: Leases We determine if an arrangement is a lease at inception. Operating leases are included in our Consolidated Balance Sheets as Right-of-use assets from operating leases, Current operating lease liabilities and Long-term operating lease liabilities. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt and Long-term debt in our Consolidated Balance Sheets. We do not recognize a right-of-use asset and lease liability for leases with a term of 12 months or less. We do not separate non-lease components from lease components to which they relate and have accounted for the combined lease and non-lease components as a single lease component. Many of our lease agreements contain renewal options; however, we do not recognize right-of-use assets or lease liabilities for renewal periods unless it is determined that we are reasonably certain of renewing the lease at inception or when a triggering event occurs. Some of our lease agreements contain rent escalation clauses (including index-based escalations), rent holidays, capital improvement funding or other lease concessions. We recognize our minimum rental expense on a straight-line basis based on the fixed components of a lease arrangement. We amortize this expense over the term of the lease beginning with the date of initial possession. Variable lease components represent amounts that are not fixed in nature and are not tied to an index or rate, and are recognized as incurred. Under certain of our third-party service agreements, we control a specific space or underlying asset used in providing the service by the third-party service provider. These arrangements meet the definition under ASC 842 and therefore are accounted for under ASC 842. In determining our right-of-use assets and lease liabilities, we apply a discount rate to the minimum lease payments within each lease agreement. ASC 842 requires us to use the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. When we cannot readily determine the discount rate implicit in the lease agreement, we utilize our in cremental borrowing rate. To estimate our specific incremental borrowing rates over various periods (ranging from 1-year through 30-years), a comparable market yield curve consistent with our credit quality was calibrated to our publicly outstanding debt instruments. We lease certain real and personal property under non-cancelable operating leases. Approximately 78% of o ur right-of-use assets and lease liabilities relate to our leases of real estate with the remaining amounts primarily relating to our leases of IT equipment, fleet vehicles and manufacturing and distribution equipment. Product Warranties and Product Related Contingencies We provide warranties to customers for some of our products and record liabilities for the estimated future warranty-related costs based on failure rates, cost experience and other factors. We periodically review the assumptions used to determine the product warranty liabilities and will adjust the liabilities in future periods for changes in experience, as necessary. Liabilities for estimated product warranty costs are included in the following captions on the accompanying Consolidated Balance Sheets (in millions) as of: June 30, 2024 December 31, 2023 Accrued expenses $ 46.3 $ 45.4 Other liabilities 106.5 97.4 Total warranty liability $ 152.8 $ 142.8 The changes in product warranty liabilities for the six months ended June 30, 2024 were as follows (in millions): Total warranty liability as of December 31, 2023 $ 142.8 Warranty claims paid (18.0) Changes resulting from issuance of new warranties 28.5 Changes in estimates associated with pre-existing liabilities (0.2) Changes in foreign currency translation rates and other (0.3) Total warranty liability as of June 30, 2024 $ 152.8 Litigation We are involved in a number of claims and lawsuits incidental to the operation of our businesses. Insurance coverages are maintained and estimated costs are recorded for such claims and lawsuits, including costs to settle claims and lawsuits, based on experience involving similar matters and specific facts known. It is management's opinion that none of these claims or lawsuits or any threatened litigation will have a material adverse effect on our financial condition, results of operations or cash flows. Claims and lawsuits, however, involve uncertainties and it is possible that their eventual outcome could adversely affect our results of operations for a particular period.

Stock Repurchases

Stock Repurchases	6 Months Ended
Stock Repurchases	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Stock Repurchases	5. Stock Repurchases:

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	6. Revenue Recognition: The following table disaggregates our revenue by business segment by geography which provides information as to the major source of revenue. See Note 2 for additional information on our reportable business segments and the products and services sold in each segment. All amount presented reflect the revised segment presentation. For the Three Months Ended June 30, 2024 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 923.5 $ 445.0 $ — $ 1,368.5 Canada 58.8 23.8 — 82.6 Other international — — — — Total $ 982.3 $ 468.8 $ — $ 1,451.1 For the Three Months Ended June 30, 2023 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 868.5 $ 382.2 $ — $ 1,250.7 Canada 67.7 25.3 — 93.0 Other international — — 67.7 67.7 Total $ 936.2 $ 407.5 $ 67.7 $ 1,411.4 For the Six Months Ended June 30, 2024 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 1,549.6 $ 802.3 $ — $ 2,351.9 Canada 107.3 39.0 — 146.3 Other international — — — — Total $ 1,656.9 $ 841.3 $ — $ 2,498.2 For the Six Months Ended June 30, 2023 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 1,507.8 $ 676.7 $ — $ 2,184.5 Canada 109.4 39.4 — 148.8 Other international — — 127.4 127.4 Total $ 1,617.2 $ 716.1 $ 127.4 $ 2,460.7 Home Comfort Solutions - We manufacture and market a broad range of furnaces, air conditioners, heat pumps, packaged heating and cooling systems, equipment and accessories to improve indoor air quality, comfort control products, replacement parts and supplies and related products for both the residential replacement and new construction markets in North America. These products are sold under various brand names and are sold either through direct sales to a network of independent installing dealers, including through our network of Lennox stores or to independent distributors. For the three months ended June 30, 2024 and 2023, direct sales represent ed 76% an d 76% of revenues, and sales to independent distributors represented the remainder. For the six months ended June 30, 2024 and 2023, direct sales represented 75% and 73% of revenues, and sales to independent distributors represented the remainder. Given the nature of our business, customer product orders are fulfilled at a point in time and not over a period of time. Building Climate Solutions - In North America, we manufacture and sell unitary heating and cooling equipment used in light commercial applications, such as low-rise office buildings, restaurants, retail centers, churches and schools. These products are distributed primarily through commercial contractors and directly to national account customers in the planned replacement, emergency replacement and new construction markets. We manufacture and market equipment for the commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name. Our products are used in the food retail, food service, cold storage as well as non-food refrigeration markets. We sell these products to distributors, installing contractors, engineering design firms, original equipment manufacturers and end-users. Lennox National Account Services provides installation, service and preventive maintenance for HVAC national account customers in the United States and Canada. AES manufactures curb, curb adapters, drop box diffusers, offers HVAC recycling and salvage services and focuses on multi-family HVAC replacement for expired mechanical assets. Revenue related to service contracts is recognized as the services are performed under the contract based on the relative fair value of the services provided. For the three months ended June 30, 2024 and 2023, equipment sales repr esented 82% and 87% of revenues and the remainder of our revenue was generated from our service business. For the six months ended June 30, 2024 and 2023, equipment sales represented 81% and 86% of revenues and the remainder of our revenue was generated from our services business. Corporate and Other - In Europe, we manufactured and marketed equipment for the global commercial refrigeration markets. We also manufactured and sold unitary heating and cooling products and applied systems. A de minimis amount of segment revenue related to services for start-up and commissioning activities. In the fourth quarter of 2023, we completed the divestiture of our European operations . Contract Liabilities - Our contract liabilities consist of advance payments and deferred revenue. Net contract liabilities consisted of the following (in millions) as of: June 30, 2024 December 31, 2023 Contract assets $ 2.0 $ 2.2 Contract liabilities - current (5.0) (4.7) Contract liabilities - noncurrent (7.8) (7.5) Total $ (10.8) $ (10.0) For the three months ended June 30, 2024 and 2023, we recognized revenue of $0.4 million and $1.2 million and for the six months ended June 30, 2024 and 2023, we recognized revenue of $6.1 million and $4.2 million related to our contract liabilities at January 1, 2024 and 2023, respectively. Impairment losses recognized in our receivables and contract assets were de minimis in 2024 and 2023.

Inventories

Inventories	6 Months Ended
Inventories	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories: The components of inventories are as follows (in millions) as of: June 30, 2024 December 31, 2023 Finished goods $ 555.1 $ 509.4 Work in process 10.9 9.6 Raw materials and parts 346.5 314.2 Subtotal 912.5 833.2 Excess of current cost over last-in, first-out cost (136.2) (134.1) Total inventories, net $ 776.3 $ 699.1

Goodwill

Goodwill	6 Months Ended
Goodwill	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill: The changes in the carrying amount of goodwill in 2024, in total and by segment, are summarized in the table below (in millions): Balance as of December 31, 2023 Goodwill Adjustment (1) Balance as of June 30, 2024 Home Comfort Solutions $ 26.1 $ — $ 26.1 Building Climate Solutions (1) 196.0 (2.2) 193.8 Total Goodwill $ 222.1 $ (2.2) $ 219.9 (1) As discussed in Note 13, an update to our purchase price allocation of AES in the first quarter of 2024 resulted in a $2.2 million reduction of goodwill. We monitor our reporting units for indicators of impairment throughout the year to determine if a change in facts or circumstances warrants a re-evaluation of our goodwill. We have not recorded any goodwill impairments for the six months ended June 30, 2024 or in any periods presented for our continuing businesses.

Derivatives

Derivatives	6 Months Ended
Derivatives	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives: Objectives and Strategies for Using Derivative Instruments Commodity Price Risk - We utilize a cash flow hedging program to mitigate our exposure to volatility in the prices of metal commodities used in our production processes. Our hedging program includes the use of futures contracts to lock in prices, and as a result, we are subject to derivative losses should the metal commodity prices decrease and gains should the prices increase. We utilize a dollar cost averaging strategy so that a higher percentage of commodity price exposures are hedged near-term and lower percentages are hedged at future dates. This strategy allows for protection against near-term price volatility while allowing us to adjust to market price movements over time. Interest Rate Risk - A portion of our debt bears interest at variable rates, and as a result, we are subject to variability in the cash paid for interest. To mitigate a portion of that risk, we may choose to engage in an interest rate swap hedging strategy to eliminate the variability of interest payment cash flows. We are not currently hedged against interest rate risk. Foreign Currency Risk - Foreign currency exchange rate movements create a degree of risk by affecting the U.S. dollar value of assets and liabilities arising in foreign currencies. We seek to mitigate the impact of currency exchange rate movements on certain short-term transactions by periodically entering into foreign currency forward contracts. Cash Flow Hedges We have foreign exchange forward contracts and commodity futures contracts designated as cash flow hedges that are scheduled to mature throug h November 2025. Unrealized gains or losses from our cash flow hedges are included in Accumulated other comprehensive loss (“AOCL”) and are expected to be reclassified into earnings within the next 17 months based on the prices of the commodities and foreign currencies at the settlement dates. We recorded the following amounts in AOCL related to our cash flow hedges (in millions) as of: June 30, 2024 December 31, 2023 Unrealized losses (gains), net on unsettled contracts $ (5.6) $ 2.6 Income tax (benefit) expense 1.4 (0.6) Unrealized losses (gains), net included in AOCL, net of tax (1) $ (4.2) $ 2.0 (1)

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation: We issue various long-term incentive awards, including performance share units, restricted stock units and stock appreciation rights under the Lennox International Inc. 2019 Equity and Incentive Plan, as it may be amended and restated from time to time. Stock-based compensation expense related to continuing operations is included in Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations as follows (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Stock-based compensation expense $ 6.7 $ 7.7 $ 13.3 $ 13.8

Pension Benefit Plans

Pension Benefit Plans	6 Months Ended
Pension Benefit Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
Pension Benefit Plans	8. Pension Benefit Plans: The components of net periodic benefit cost for pension benefits were as follows (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Service cost $ 0.4 $ 0.5 $ 0.8 $ 1.1 Interest cost 2.2 2.2 4.3 4.5 Expected return on plan assets (1.9) (2.4) (3.8) (4.7) Recognized actuarial loss 0.2 0.2 0.4 0.4 Other — — — (0.3) Settlements and curtailments 0.3 0.1 0.3 0.3 Net periodic benefit cost $ 1.2 $ 0.6 $ 2.0 $ 1.3

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes: As of June 30, 2024, we had approximately $4.4 million in total gross unrecognized tax benefits. If recognized, $4.4 million would be recorded through the Consolidated Statements of Operations. Our effective tax rate was 19.7% for the six months ended June 30, 2024 compared to 19.0% for the six months ended June 30, 2023. The increase in rate is primarily due to income allocated to high-tax jurisdictions offset by a favorable adjustment for excess tax benefits. We are currently under a limited scope audit by the Internal Revenue Service for our 2021 and 2022 tax years. There are also ongoing U.S. state and local audits and other foreign audits covering fiscal years 2017 through 2023. We are generally no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by taxing authorities for years prior to 2017.

Lines of Credit and Financing A

Lines of Credit and Financing Arrangements	6 Months Ended
Lines of Credit and Financing Arrangements	Jun. 30, 2024
Debt Disclosure [Abstract]
Lines of Credit and Financing Arrangements	10. Lines of Credit and Financing Arrangements: The following table summarizes our outstanding debt obligations and their classification in the accompanying Consolidated Balance Sheets (in millions) as of: June 30, 2024 December 31, 2023 Commercial paper $ 147.0 $ 150.0 Current maturities of long-term debt: Finance lease obligations $ 14.0 $ 12.1 Total current maturities of long-term debt $ 14.0 $ 12.1 Long-Term Debt: Finance lease obligations $ 35.0 $ 32.7 Credit agreement — 20.0 Senior unsecured notes 1,100.0 1,100.0 Debt issuance costs (8.2) (9.6) Total long-term debt $ 1,126.8 $ 1,143.1 Total debt $ 1,287.8 $ 1,305.2 Foreign Obligations Through several of our foreign subsidiaries, we have facilities available to assist us in financing seasonal borrowing needs for our foreign locations. We had no outstanding foreign obligations as of June 30, 2024 or December 31, 2023 and there were no borrowings or repayments on these facilities during the six months ended June 30, 2024. Commercial Paper Program On October 25, 2023, we established a commercial paper program (the “Program”), as a replacement to our Asset Securitization Program which expired in November 2023, pursuant to which we may issue short-term, unsecured commercial paper notes (the “CP Notes”) under the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. Amounts available under the Program may be borrowed, repaid, and re-borrowed from time to time, with the aggregate face or principal amount of the CP Notes outstanding under the Program at any time not to exceed $500.0 million. The CP Notes have maturities of up to 397 days from the date of issue and rank pari passu with all of our other unsecured and unsubordinated indebtedness. The net proceeds from issuances of the CP Notes are typically used for general corporate purposes. Our revolving credit facility serves as a liquidity backstop for the repayment of CP Notes outstanding under the Program. CP Notes currently outstanding under the Program totaled $147.0 million as of June 30, 2024. Our weighted average borrowing rate on the Program was as follows as of: June 30, 2024 December 31, 2023 Weighted average borrowing rate 5.56 % 5.66 % Credit Agreement We have an existing $1.1 billion unsecured revolving credit facility dated as of July 14, 2021 (as amended, the "Credit Agreement"), with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. W e had $0 outstanding borrowings and $1.7 million committed to standby letters of credit as of June 30, 2024. Subject to covenant limitations, $951.3 million was available for future borrowings after taking into consideration outstanding borrowings under our Program. The Credit Agreement includes a subfacility for swingline loans up to $65.0 million. The Credit Agreement will expire and outstanding loans will be required to be repaid in July 2026, unless maturity is extended by the lenders pursuant to two one-year extension options that we may request under the Credit Agreement. Our weighted average borrowing rate on the facility was as follows as of: June 30, 2024 December 31, 2023 Weighted average borrowing rate — % 6.67 % The Credit Agreement is guaranteed by certain of our subsidiaries and contains customary covenants applicable to us and our subsidiaries including limitations on indebtedness, liens, dividends, stock repurchases, mergers, and sales of all or substantially all of our assets. In addition, the Credit Agreement contains a financial covenant requiring us to maintain, as of the last day of each fiscal quarter for the four prior fiscal quarters, a Total Net Leverage Ratio of no more than 3.50 to 1.00 (or, at our election, on up to two occasions following a material acquisition, 4.00 to 1.00). Our Credit Agreement contains customary events of default. These events of default include nonpayment of principal or other amounts, material inaccuracy of representations and warranties, breach of covenants, default on certain other indebtedness or receivables securitizations (cross default), certain voluntary and involuntary bankruptcy events, and the occurrence of a change in control. A cross default under our credit facility could occur if: • We fail to pay any principal or interest when due on any other indebtedness or receivables securi tization exceeding $75.0 million; or • We are in default in the performance of, or compliance with any term of any other indebtedness in an aggregate principal amount exceeding $75.0 million, or any other condition exists which would give the holders the right to declare such indebtedness due and payable prior to its stated maturity. Each of our major debt agreements contains provisions by which a default under one agreement causes a default in the others (a cross default). If a cross default under our Credit Agreement or our senior unsecured notes were to occur, it could have a wider impact on our liquidity than might otherwise occur from a default of a single debt instrument or lease commitment. If any event of default occurs and is continuing, the administrative agent, or lenders with a majority of the aggregate commitments may require the administrative agent to, terminate our right to borrow under our Credit Agreement and accelerate amounts due under our Credit Agreement (except for a bankruptcy event of default, in which case such amounts will automatically become due and payable and the lenders’ commitments will automatically terminate). As of June 30, 2024, we believe we were in compliance with all covenant requirements. Senior Unsecured Notes In September 2023, we issued $500.0 million of senior unsecured notes, which will mature in September 2028 (the "2028 Notes") with interest being paid semi-annually in March and September at 5.50%. We issued two series of senior unsecured notes on July 30, 2020 for $300.0 million each, which will mature on August 1, 2025 (the "2025 Notes") and August 1, 2027 (the "2027 Notes," and collectively with the 2025 Notes and the 2028 Notes, the "Notes") with interest being paid semi-annually in February and August at 1.35% and 1.70% respectively, per annum.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	6 Months Ended
Comprehensive Income (Loss)	Jun. 30, 2024
Equity [Abstract]
Comprehensive Income (Loss)	11. Comprehensive Income (Loss): The following table provides information on items reclassified from AOCL to Net income in the accompanying Consolidated Statements of Operations (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, Affected Line Item(s) in the Consolidated Statements of Operations 2024 2023 2024 2023 Gains (Losses) on Cash Flow Hedges: Derivatives contracts $ 1.6 $ — $ (0.4) $ (0.4) Cost of goods sold; Losses (gains) and other expenses, net Income tax (expense) benefit (0.4) — 0.1 0.1 Provision for income taxes Net of tax $ 1.2 $ — $ (0.3) $ (0.3) Defined Benefit Plan items: Pension and post-retirement benefit costs $ (0.1) $ (0.2) $ (0.4) $ (0.4) Other expense, net Pension settlements (0.3) (0.1) (0.3) (0.3) Pension settlements Income tax benefit 0.1 0.1 0.2 0.2 Provision for income taxes Net of tax $ (0.3) $ (0.2) $ (0.5) $ (0.5) Total reclassifications from AOCL $ 0.9 $ (0.2) $ (0.8) $ (0.8) The following table provides information on changes in AOCL, by component (net of tax), for the six months ended June 30, 2024 (in millions): Gains (Losses) on Cash Flow Hedges Share of Equity Method Investments Other Comprehensive Income Defined Benefit Pension Plan Items Foreign Currency Translation Adjustments Total AOCL Balance as of December 31, 2023 $ (2.0) $ 0.6 $ (44.2) $ (11.3) $ (56.9) Other comprehensive income (loss) before reclassifications 5.9 — (1.1) (9.5) (4.7) Amounts reclassified from AOCL 0.3 — 0.5 — 0.8 Net other comprehensive income (loss) 6.2 — (0.6) (9.5) (3.9) Balance as of June 30, 2024 $ 4.2 $ 0.6 $ (44.8) $ (20.8) $ (60.8)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. Fair Value Measurements: Fair Value Hierarchy The methodologies used to determine the fair value of our financial assets and liabilities as of June 30, 2024 were the same as those used as of December 31, 2023. Assets and Liabilities Carried at Fair Value on a Recurring Basis Derivatives were classified as Level 2 and primarily valued using estimated future cash flows based on observed prices from exchange-traded derivatives. We also considered the counterparty's creditworthiness, or our own creditworthiness, as appropriate. Adjustments were recorded to reflect the risk of credit default, however, they were insignificant to the overall value of the derivatives. Refer to Note 7 for more information related to our derivative instruments. Other Fair Value Disclosures The carrying amounts of Cash and cash equivalents, Short-term investments, Accounts and notes receivable, net, Accounts payable, and Short-term debt approximate fair value due to the short maturities of these instruments. The carrying amount of our Credit Agreement in Long-term debt also approximates fair value due to its variable-rate characteristics. The fair value of our senior unsecured notes in Long-term debt, classified as Level 2, was based on the amount of future cash flows using current market rates for debt instruments of similar maturities and credit risk. The following table presents their fair value (in millions) as of: June 30, 2024 December 31, 2023 Senior unsecured notes $ 1,074.6 $ 1,079.3

Prior Year Acquisition

Prior Year Acquisition	6 Months Ended
Prior Year Acquisition	Jun. 30, 2024
Business Combination and Asset Acquisition [Abstract]
Prior Year Acquisition	13. Prior Year Acquisition: In October 2023, we completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market. Under the terms of the purchase agreement, a final working capital adjustment was completed in the first quarter of 2024. This working capital adjustment resulted in a $1.8 million reduction in the purchase price. Additionally, during the first quarter of 2024 we made certain purchase price adjustments. The following table details the purchase price adjustments that were made during the first quarter of 2024 (in millions) : December 31, 2023 Adjustment June 30, 2024 Net tangible assets acquired $ 17.6 $ (1.7) $ 15.9 Intangible assets acquired 36.9 2.1 39.0 Goodwill 40.4 (2.2) 38.2 Total investment $ 94.9 $ (1.8) $ 93.1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 245.9	$ 217.2	$ 370.2	$ 315.2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	6 Months Ended
General (Policies)	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Consolidated Balance Sheet as of June 30, 2024, the accompanying unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023, the accompanying unaudited Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023, the accompanying unaudited Consolidated Statements of Stockholders' Equity (Deficit) for the three and six months ended June 30, 2024 and 2023, and the accompanying unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 should be read in conjunction with our audited consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The accompanying consolidated financial statements contain all material adjustments, consisting principally of normal recurring adjustments, necessary for a fair presentation of our financial position, results of operations and cash flows. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to applicable rules and regulations, although we believe that the disclosures herein are adequate to make the information presented not misleading. The operating results for the interim periods are not necessarily indicative of the results that may be expected for a full year.
Use of Estimates	Use of Estimates 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.
Recent Accounting Pronouncements
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in our Consolidated Balance Sheets as Right-of-use assets from operating leases, Current operating lease liabilities and Long-term operating lease liabilities. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt and Long-term debt in our Consolidated Balance Sheets. We do not recognize a right-of-use asset and lease liability for leases with a term of 12 months or less. We do not separate non-lease components from lease components to which they relate and have accounted for the combined lease and non-lease components as a single lease component. Many of our lease agreements contain renewal options; however, we do not recognize right-of-use assets or lease liabilities for renewal periods unless it is determined that we are reasonably certain of renewing the lease at inception or when a triggering event occurs. Some of our lease agreements contain rent escalation clauses (including index-based escalations), rent holidays, capital improvement funding or other lease concessions. We recognize our minimum rental expense on a straight-line basis based on the fixed components of a lease arrangement. We amortize this expense over the term of the lease beginning with the date of initial possession. Variable lease components represent amounts that are not fixed in nature and are not tied to an index or rate, and are recognized as incurred. Under certain of our third-party service agreements, we control a specific space or underlying asset used in providing the service by the third-party service provider. These arrangements meet the definition under ASC 842 and therefore are accounted for under ASC 842. In determining our right-of-use assets and lease liabilities, we apply a discount rate to the minimum lease payments within each lease agreement. ASC 842 requires us to use the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. When we cannot readily determine the discount rate implicit in the lease agreement, we utilize our in cremental borrowing rate. To estimate our specific incremental borrowing rates over various periods (ranging from 1-year through 30-years), a comparable market yield curve consistent with our credit quality was calibrated to our publicly outstanding debt instruments. We lease certain real and personal property under non-cancelable operating leases. Approximately 78% of o

Commitment and Contingencies (P

Commitment and Contingencies (Policies)	6 Months Ended
Commitment and Contingencies (Policies)	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in our Consolidated Balance Sheets as Right-of-use assets from operating leases, Current operating lease liabilities and Long-term operating lease liabilities. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt and Long-term debt in our Consolidated Balance Sheets. We do not recognize a right-of-use asset and lease liability for leases with a term of 12 months or less. We do not separate non-lease components from lease components to which they relate and have accounted for the combined lease and non-lease components as a single lease component. Many of our lease agreements contain renewal options; however, we do not recognize right-of-use assets or lease liabilities for renewal periods unless it is determined that we are reasonably certain of renewing the lease at inception or when a triggering event occurs. Some of our lease agreements contain rent escalation clauses (including index-based escalations), rent holidays, capital improvement funding or other lease concessions. We recognize our minimum rental expense on a straight-line basis based on the fixed components of a lease arrangement. We amortize this expense over the term of the lease beginning with the date of initial possession. Variable lease components represent amounts that are not fixed in nature and are not tied to an index or rate, and are recognized as incurred. Under certain of our third-party service agreements, we control a specific space or underlying asset used in providing the service by the third-party service provider. These arrangements meet the definition under ASC 842 and therefore are accounted for under ASC 842. In determining our right-of-use assets and lease liabilities, we apply a discount rate to the minimum lease payments within each lease agreement. ASC 842 requires us to use the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. When we cannot readily determine the discount rate implicit in the lease agreement, we utilize our in cremental borrowing rate. To estimate our specific incremental borrowing rates over various periods (ranging from 1-year through 30-years), a comparable market yield curve consistent with our credit quality was calibrated to our publicly outstanding debt instruments. We lease certain real and personal property under non-cancelable operating leases. Approximately 78% of o

Reportable Business Segments (T

Reportable Business Segments (Tables)	6 Months Ended
Reportable Business Segments (Tables)	Jun. 30, 2024
Segment Reporting, Measurement Disclosures [Abstract]
Summary of segment description	The following table describes each segment: Segment Product or Services Markets Served Geographic Areas Home Comfort Solutions Furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, replacement parts and supplies Residential Replacement; United States Building Climate Solutions Unitary heating and air conditioning equipment, applied systems, controls, installation and service of commercial heating and cooling equipment, variable refrigerant flow commercial products, curb, curb adapters, drop box diffusers, HVAC recycling and salvage service, condensing units, unit coolers, fluid coolers, air cooled condensers, air handlers, process chillers, controls, compressorized racks Light Commercial; United States
Net sales and segment profit (loss) and reconciliation of segment profit (loss) to income from continuing operations before income taxes	Net sales and segment profit (loss) for each segment, along with a reconciliation of segment profit (loss) to Operating income, are shown below (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net sales Home Comfort Solutions $ 982.3 $ 936.2 $ 1,656.9 $ 1,617.2 Business Climate Solutions 468.8 407.5 841.3 716.1 Corporate and Other (1) — 67.7 — 127.4 $ 1,451.1 $ 1,411.4 $ 2,498.2 $ 2,460.7 Segment profit (loss) (2) Home Comfort Solutions $ 228.5 $ 202.6 $ 340.6 $ 313.7 Business Climate Solutions 114.0 103.0 192.2 153.0 Corporate and Other (24.0) (22.5) (47.5) (41.9) Total segment profit 318.5 283.1 485.3 424.8 Reconciliation to Operating income: Gain on sale from previous dispositions (1.6) — (1.6) — Items in Losses (gains) and other expenses, net that are excluded from segment profit (loss) (2) — 4.3 — 6.4 Operating income $ 320.1 $ 278.8 $ 486.9 $ 418.4 (1) The Corporate and Other segment included our European portfolio. In the fourth quarter of 2023 we completed the divestiture of our European operations. (2) We define segment profit (loss) as a segment's operating income included in the accompanying Consolidated Statements of Operations, excluding: ◦ The following items in Losses and other expenses, net: ▪ Net change in unrealized losses (gains) on unsettled futures contracts, ▪ Environmental liabilities and special litigation charges, and ▪ Other items, net ◦ Gain on sale from previous dispositions

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Computations of basic and diluted loss per share for loss from continuing operations	The computations of basic and diluted earnings per share were as follows (in millions, except per share data): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 245.9 $ 217.2 $ 370.2 $ 315.2 Weighted-average shares outstanding – basic 35.6 35.5 35.6 35.5 Add: Potential effect of dilutive securities attributable to stock-based payments 0.2 0.1 0.2 0.1 Weighted-average shares outstanding – diluted 35.8 35.6 35.8 35.6 Earnings per share – Basic: $ 6.91 $ 6.12 $ 10.40 $ 8.88 Earnings per share – Diluted: $ 6.87 $ 6.10 $ 10.34 $ 8.85
Stock appreciation rights were outstanding, but not included in the diluted loss per share calculation	The following stock appreciation rights and restricted stock units were outstanding but not included in the diluted earnings per share calculation as the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Weighted-average number of shares — 0.2 — 0.2

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of changes in the total warranty liabilities	Liabilities for estimated product warranty costs are included in the following captions on the accompanying Consolidated Balance Sheets (in millions) as of: June 30, 2024 December 31, 2023 Accrued expenses $ 46.3 $ 45.4 Other liabilities 106.5 97.4 Total warranty liability $ 152.8 $ 142.8 The changes in product warranty liabilities for the six months ended June 30, 2024 were as follows (in millions): Total warranty liability as of December 31, 2023 $ 142.8 Warranty claims paid (18.0) Changes resulting from issuance of new warranties 28.5 Changes in estimates associated with pre-existing liabilities (0.2) Changes in foreign currency translation rates and other (0.3) Total warranty liability as of June 30, 2024 $ 152.8
Schedule of probable insurance recoveries

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Jun. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Revenue from External Customers by Geographic Areas	The following table disaggregates our revenue by business segment by geography which provides information as to the major source of revenue. See Note 2 for additional information on our reportable business segments and the products and services sold in each segment. All amount presented reflect the revised segment presentation. For the Three Months Ended June 30, 2024 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 923.5 $ 445.0 $ — $ 1,368.5 Canada 58.8 23.8 — 82.6 Other international — — — — Total $ 982.3 $ 468.8 $ — $ 1,451.1 For the Three Months Ended June 30, 2023 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 868.5 $ 382.2 $ — $ 1,250.7 Canada 67.7 25.3 — 93.0 Other international — — 67.7 67.7 Total $ 936.2 $ 407.5 $ 67.7 $ 1,411.4 For the Six Months Ended June 30, 2024 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 1,549.6 $ 802.3 $ — $ 2,351.9 Canada 107.3 39.0 — 146.3 Other international — — — — Total $ 1,656.9 $ 841.3 $ — $ 2,498.2 For the Six Months Ended June 30, 2023 Primary Geographic Markets Home Comfort Solutions Building Climate Solutions Corporate and Other Consolidated United States $ 1,507.8 $ 676.7 $ — $ 2,184.5 Canada 109.4 39.4 — 148.8 Other international — — 127.4 127.4 Total $ 1,617.2 $ 716.1 $ 127.4 $ 2,460.7
Contract with Customer, Asset and Liability	Net contract liabilities consisted of the following (in millions) as of: June 30, 2024 December 31, 2023 Contract assets $ 2.0 $ 2.2 Contract liabilities - current (5.0) (4.7) Contract liabilities - noncurrent (7.8) (7.5) Total $ (10.8) $ (10.0)

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2024
Inventory Disclosure [Abstract]
Components of inventories	The components of inventories are as follows (in millions) as of: June 30, 2024 December 31, 2023 Finished goods $ 555.1 $ 509.4 Work in process 10.9 9.6 Raw materials and parts 346.5 314.2 Subtotal 912.5 833.2 Excess of current cost over last-in, first-out cost (136.2) (134.1) Total inventories, net $ 776.3 $ 699.1

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
Goodwill (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill in 2024, in total and by segment, are summarized in the table below (in millions): Balance as of December 31, 2023 Goodwill Adjustment (1) Balance as of June 30, 2024 Home Comfort Solutions $ 26.1 $ — $ 26.1 Building Climate Solutions (1) 196.0 (2.2) 193.8 Total Goodwill $ 222.1 $ (2.2) $ 219.9 (1) As discussed in Note 13, an update to our purchase price allocation of AES in the first quarter of 2024 resulted in a $2.2 million reduction of goodwill.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
Derivatives (Tables)	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amounts related to cash flow hedges	We recorded the following amounts in AOCL related to our cash flow hedges (in millions) as of: June 30, 2024 December 31, 2023 Unrealized losses (gains), net on unsettled contracts $ (5.6) $ 2.6 Income tax (benefit) expense 1.4 (0.6) Unrealized losses (gains), net included in AOCL, net of tax (1) $ (4.2) $ 2.0 (1)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of stock -based compensation expense in operations	Stock-based compensation expense related to continuing operations is included in Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations as follows (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Stock-based compensation expense $ 6.7 $ 7.7 $ 13.3 $ 13.8

Pension Benefit Plans (Tables)

Pension Benefit Plans (Tables)	6 Months Ended
Pension Benefit Plans (Tables)	Jun. 30, 2024
Retirement Benefits [Abstract]
Components of net periodic benefit cost	The components of net periodic benefit cost for pension benefits were as follows (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Service cost $ 0.4 $ 0.5 $ 0.8 $ 1.1 Interest cost 2.2 2.2 4.3 4.5 Expected return on plan assets (1.9) (2.4) (3.8) (4.7) Recognized actuarial loss 0.2 0.2 0.4 0.4 Other — — — (0.3) Settlements and curtailments 0.3 0.1 0.3 0.3 Net periodic benefit cost $ 1.2 $ 0.6 $ 2.0 $ 1.3

Lines of Credit and Financing_2

Lines of Credit and Financing Arrangements (Tables)	6 Months Ended
Lines of Credit and Financing Arrangements (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary of outstanding debt obligations	The following table summarizes our outstanding debt obligations and their classification in the accompanying Consolidated Balance Sheets (in millions) as of: June 30, 2024 December 31, 2023 Commercial paper $ 147.0 $ 150.0 Current maturities of long-term debt: Finance lease obligations $ 14.0 $ 12.1 Total current maturities of long-term debt $ 14.0 $ 12.1 Long-Term Debt: Finance lease obligations $ 35.0 $ 32.7 Credit agreement — 20.0 Senior unsecured notes 1,100.0 1,100.0 Debt issuance costs (8.2) (9.6) Total long-term debt $ 1,126.8 $ 1,143.1 Total debt $ 1,287.8 $ 1,305.2
Summary of weighted average borrowing rate facility	Our weighted average borrowing rate on the Program was as follows as of: June 30, 2024 December 31, 2023 Weighted average borrowing rate 5.56 % 5.66 % Our weighted average borrowing rate on the facility was as follows as of: June 30, 2024 December 31, 2023 Weighted average borrowing rate — % 6.67 %

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	6 Months Ended
Comprehensive Income (Loss) (Tables)	Jun. 30, 2024
Equity [Abstract]
Reclassification out of accumulated other comprehensive income	The following table provides information on items reclassified from AOCL to Net income in the accompanying Consolidated Statements of Operations (in millions): For the Three Months Ended June 30, For the Six Months Ended June 30, Affected Line Item(s) in the Consolidated Statements of Operations 2024 2023 2024 2023 Gains (Losses) on Cash Flow Hedges: Derivatives contracts $ 1.6 $ — $ (0.4) $ (0.4) Cost of goods sold; Losses (gains) and other expenses, net Income tax (expense) benefit (0.4) — 0.1 0.1 Provision for income taxes Net of tax $ 1.2 $ — $ (0.3) $ (0.3) Defined Benefit Plan items: Pension and post-retirement benefit costs $ (0.1) $ (0.2) $ (0.4) $ (0.4) Other expense, net Pension settlements (0.3) (0.1) (0.3) (0.3) Pension settlements Income tax benefit 0.1 0.1 0.2 0.2 Provision for income taxes Net of tax $ (0.3) $ (0.2) $ (0.5) $ (0.5) Total reclassifications from AOCL $ 0.9 $ (0.2) $ (0.8) $ (0.8)
Changes in AOCI by component (net of tax)	The following table provides information on changes in AOCL, by component (net of tax), for the six months ended June 30, 2024 (in millions): Gains (Losses) on Cash Flow Hedges Share of Equity Method Investments Other Comprehensive Income Defined Benefit Pension Plan Items Foreign Currency Translation Adjustments Total AOCL Balance as of December 31, 2023 $ (2.0) $ 0.6 $ (44.2) $ (11.3) $ (56.9) Other comprehensive income (loss) before reclassifications 5.9 — (1.1) (9.5) (4.7) Amounts reclassified from AOCL 0.3 — 0.5 — 0.8 Net other comprehensive income (loss) 6.2 — (0.6) (9.5) (3.9) Balance as of June 30, 2024 $ 4.2 $ 0.6 $ (44.8) $ (20.8) $ (60.8)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Other fair value measurements	The following table presents their fair value (in millions) as of: June 30, 2024 December 31, 2023 Senior unsecured notes $ 1,074.6 $ 1,079.3

Prior Year Acquisition (Tables)

Prior Year Acquisition (Tables)	6 Months Ended
Prior Year Acquisition (Tables)	Jun. 30, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table details the purchase price adjustments that were made during the first quarter of 2024 (in millions) : December 31, 2023 Adjustment June 30, 2024 Net tangible assets acquired $ 17.6 $ (1.7) $ 15.9 Intangible assets acquired 36.9 2.1 39.0 Goodwill 40.4 (2.2) 38.2 Total investment $ 94.9 $ (1.8) $ 93.1

Reportable Business Segments (S

Reportable Business Segments (Segment Data) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments \| segment			2
Net sales
Net sales	$ 1,451.1	$ 1,411.4	$ 2,498.2	$ 2,460.7
Segment profit (loss)
Total segment profit	318.5	283.1	485.3	424.8
Reconciliation to Operating income:
Gain on sale from previous dispositions	(1.6)	0	(1.6)	0
Items in Losses (gains) and other expenses, net that are excluded from segment profit (loss)	0	4.3	0	6.4
Operating income	320.1	278.8	486.9	418.4
Home Comfort Solutions
Net sales
Net sales	982.3	936.2	1,656.9	1,617.2
Segment profit (loss)
Total segment profit	228.5	202.6	340.6	313.7
Building Climate Solutions
Net sales
Net sales	468.8	407.5	841.3	716.1
Segment profit (loss)
Total segment profit	114	103	192.2	153
Corporate and Other
Net sales
Net sales	0	67.7	0	127.4
Segment profit (loss)
Total segment profit	$ (24)	$ (22.5)	$ (47.5)	$ (41.9)

Earnings Per Share (Computation

Earnings Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 245.9	$ 217.2	$ 370.2	$ 315.2
Weighted average number of shares outstanding, basic (in shares)	35.6	35.5	35.6	35.5
Add: Potential effect of dilutive securities attributable to stock-based payments	0.2	0.1	0.2	0.1
Weighted-average shares outstanding – diluted	35.8	35.6	35.8	35.6
Earnings per share - Basic (in dollars per share)	$ 6.91	$ 6.12	$ 10.40	$ 8.88
Earnings per share - Diluted (in dollars per share)	$ 6.87	$ 6.10	$ 10.34	$ 8.85

Earnings Per Share (Excluded fr

Earnings Per Share (Excluded from Diluted Earnings Per Share Calculation) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Weighted-average number of shares	0	0.2	0	0.2

Commitments and Contingencies_2

Commitments and Contingencies (Liabilities for Estimated Product Warranty Costs) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Total liabilities for estimated warranty
Accrued expenses	$ 46.3	$ 45.4
Other liabilities	106.5	97.4
Total warranty liability	$ 152.8	$ 142.8

Commitments and Contingencies_3

Commitments and Contingencies (Changes in Product Warranty Liabilities) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Standard and Extended Product Warranty Accrual, Foreign Currency Translation Gain (Loss)	$ (0.3)
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Total warranty liability, beginning balance	(142.8)
Warranty claims paid	(18)
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	(0.2)
Changes resulting from issuance of new warranties	28.5
Total warranty liability, ending balance	$ (152.8)

Commitments and Contingencies_4

Commitments and Contingencies (Narrative) (Details)	Jun. 30, 2024
Loss Contingencies [Line Items]
Operating lease, right-of-use asset, percentage related to leases of real estate	0.78

Stock Repurchases (Details)

Stock Repurchases (Details) - USD ($)	6 Months Ended
Stock Repurchases (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jul. 09, 2021
Stockholders' Equity Note [Abstract]
Stock repurchase program, authorized amount	$ 4,000,000,000		$ 1,000,000,000
Stock repurchase program, remaining authorized amount	546,000,000
Shares repurchased from employees who surrendered shares to satisfy minimum tax withholding obligations, value	$ 9,100,000	$ 3,200,000

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue Recognition (Narrative) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	$ 400,000	$ 1,200,000	$ 6,100,000	$ 4,200,000
Home Comfort Solutions \| Sales Channel, Directly to Consumer
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.76	0.76	0.75	0.73
Commercial Heating and Cooling \| Equipment Sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 0.82	$ 0.87	$ 0.81	$ 0.86

Revenue Recognition (Revenue by

Revenue Recognition (Revenue by Business Segment by Geography) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	$ 400,000	$ 1,200,000	$ 6,100,000	$ 4,200,000
Revenue, Net	1,451,100,000	1,411,400,000	2,498,200,000	2,460,700,000
Residential Heating and Cooling [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	982,300,000	936,200,000	1,656,900,000	1,617,200,000
Commercial Heating and Cooling
Disaggregation of Revenue [Line Items]
Revenue, Net	468,800,000	407,500,000	841,300,000	716,100,000
Corporate & Other
Disaggregation of Revenue [Line Items]
Revenue, Net	0	67,700,000	0	127,400,000
Sales Channel, Directly to Consumer \| Residential Heating and Cooling [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.76	0.76	0.75	0.73
Equipment Sales \| Commercial Heating and Cooling
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.82	0.87	0.81	0.86
International [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	0	67,700,000	0	127,400,000
International [Member] \| Residential Heating and Cooling [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	0	0	0	0
International [Member] \| Commercial Heating and Cooling
Disaggregation of Revenue [Line Items]
Revenue, Net	0	0	0	0
International [Member] \| Corporate & Other
Disaggregation of Revenue [Line Items]
Revenue, Net	0	67,700,000	0	127,400,000
CANADA
Disaggregation of Revenue [Line Items]
Revenue, Net	82,600,000	93,000,000	146,300,000	148,800,000
CANADA \| Residential Heating and Cooling [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	58,800,000	67,700,000	107,300,000	109,400,000
CANADA \| Commercial Heating and Cooling
Disaggregation of Revenue [Line Items]
Revenue, Net	23,800,000	25,300,000	39,000,000	39,400,000
CANADA \| Corporate & Other
Disaggregation of Revenue [Line Items]
Revenue, Net	0	0	0	0
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue, Net	1,368,500,000	1,250,700,000	2,351,900,000	2,184,500,000
UNITED STATES \| Residential Heating and Cooling [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	923,500,000	868,500,000	1,549,600,000	1,507,800,000
UNITED STATES \| Commercial Heating and Cooling
Disaggregation of Revenue [Line Items]
Revenue, Net	445,000,000	382,200,000	802,300,000	676,700,000
UNITED STATES \| Corporate & Other
Disaggregation of Revenue [Line Items]
Revenue, Net	$ 0	$ 0	$ 0	$ 0

Revenue Recognition (Net Contra

Revenue Recognition (Net Contract Assets (Liabilities)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Contract assets	$ 2		$ 2		$ 2.2
Contract liabilities - current	(5)		(5)		(4.7)
Contract liabilities - noncurrent	(7.8)		(7.8)		(7.5)
Total	(10.8)		(10.8)		$ (10)
Contract with Customer, Liability, Revenue Recognized	$ 0.4	$ 1.2	$ 6.1	$ 4.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Components of inventories
Finished goods	$ 555.1	$ 509.4
Work in process	10.9	9.6
Raw materials and parts	346.5	314.2
Subtotal	912.5	833.2
Excess of current cost over last-in, first-out cost	(136.2)	(134.1)
Total inventories, net	$ 776.3	$ 699.1

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2024
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 222.1	$ 222.1
Goodwill adjustment		(2.2)
Goodwill, Ending Balance		219.9
AES
Goodwill [Roll Forward]
Goodwill, Beginning Balance	40.4	40.4
Goodwill adjustment	2.2	2.2
Goodwill, Ending Balance		38.2
Home Comfort Solutions
Goodwill [Roll Forward]
Goodwill, Beginning Balance	26.1	26.1
Goodwill adjustment		0
Goodwill, Ending Balance		26.1
Building Climate Solutions
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 196	196
Goodwill adjustment		(2.2)
Goodwill, Ending Balance		$ 193.8

Derivatives (AOCL Related to Ca

Derivatives (AOCL Related to Cash Flow Hedges) (Details) - Cash Flow Hedge [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized losses (gains), net on unsettled contracts	$ (5.6)	$ 2.6
Income tax (benefit) expense	1.4	(0.6)
Losses included in AOCL, net of tax	(4.2)	$ 2
Cash flow hedge derivative losses expected to be reclassified into earnings within the next 12 months	$ 4.4

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Stock-Based Compensation (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 6.7	$ 7.7	$ 13.3	$ 13.8

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Equity Awards Granted in Period (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 6.7	$ 7.7	$ 13.3	$ 13.8

Pension Benefit Plans (Details)

Pension Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pension Benefit Plans (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Service cost	$ 0.4	$ 0.5	$ 0.8	$ 1.1
Interest cost	2.2	2.2	4.3	4.5
Expected return on plan assets	(1.9)	(2.4)	(3.8)	(4.7)
Recognized actuarial loss	0.2	0.2	0.4	0.4
Other	0	0	0	(0.3)
Settlements and curtailments	0.3	0.1	0.3	0.3
Net periodic benefit cost	$ 1.2	$ 0.6	$ 2	$ 1.3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 4.4
Effective tax rate	19.70%	19%

Lines of Credit and Financing_3

Lines of Credit and Financing Arrangements (Outstanding Debt Obligations) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Commercial paper	$ 147,000,000	$ 150,000,000
Current maturities of long-term debt:
Finance lease obligations	14,000,000	12,100,000
Total current maturities of long-term debt	14,000,000	12,100,000
Long-Term Debt:
Finance lease obligations	35,000,000	32,700,000
Debt issuance costs	(8,200,000)	(9,600,000)
Total long-term debt	1,126,800,000	1,143,100,000
Total debt	1,287,800,000	1,305,200,000
Senior Unsecured Notes
Long-Term Debt:
Domestic credit facility and senior unsecured notes	1,100,000,000	1,100,000,000
Domestic Credit Facility
Long-Term Debt:
Domestic credit facility and senior unsecured notes	0	20,000,000
Foreign Obligations
Long-Term Debt:
Short-term Debt	$ 0	$ 0

Lines of Credit and Financing_4

Lines of Credit and Financing Arrangements (Foreign Obligations) (Details) - Foreign Obligations - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Short-term Debt	$ 0	$ 0
Commercial paper borrowings	$ 0

Lines of Credit and Financing_5

Lines of Credit and Financing Arrangements (Commercial Paper Program) (Details) - USD ($) $ in Millions	Oct. 25, 2023	Jun. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Commercial paper		$ 147	$ 150
Commercial Paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500
Debt instrument term	397 days

Lines of Credit and Financing_6

Lines of Credit and Financing Arrangements (Domestic Credit Facility) (Details)	1 Months Ended	6 Months Ended
	Aug. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) extension	Jul. 31, 2021	Jul. 30, 2020 USD ($)
Subfacility for Swingline Loans
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 65,000,000
Medium-term Notes \| Domestic Credit Facility
Line of Credit Facility [Line Items]
Face amount of debt				$ 1,100,000,000
Senior Notes [Member]
Line of Credit Facility [Line Items]
Minimum principal amount accelerated	$ 75,000,000	75,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Outstanding borrowings		0
Committed standby letters of credit		1,700,000
Available for future borrowings		$ 951,300,000
Debt instrument, number of extension options \| extension		2
Debt instrument, term of extension options		1 year
Debt instrument, covenant, net leverage ratio			3.50
Debt instrument, covenant, net leverage ratio following material acquisition			4
2025 Notes [Member] \| Senior Notes [Member]
Line of Credit Facility [Line Items]
Face amount of debt				$ 300,000,000
Debt instrument, interest rate, stated percentage				1.35%
2027 Notes [Member] \| Senior Notes [Member]
Line of Credit Facility [Line Items]
Face amount of debt				$ 300,000,000
Debt instrument, interest rate, stated percentage				1.70%

Lines of Credit and Financing_7

Lines of Credit and Financing Arrangements (Weighted Average Borrowing Rate) (Details)	Jun. 30, 2024	Dec. 31, 2023
Revolving Credit Facility
Line of Credit Facility [Line Items]
Weighted average borrowing rate	0%	6.67%
Commercial Paper
Line of Credit Facility [Line Items]
Weighted average borrowing rate	5.56%	5.66%

Lines of Credit and Financing_8

Lines of Credit and Financing Arrangements (Senior Unsecured Notes) (Details) - Senior Unsecured Notes	1 Months Ended	6 Months Ended
	Aug. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jul. 30, 2020 USD ($)	Nov. 01, 2016 debtSeries
Debt Instrument [Line Items]
Minimum principal amount accelerated	$ 75,000,000	$ 75,000,000
Notice period		30 days
Redemption price (percentage)	101%
2025 Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes				$ 300,000,000
Fixed interest rate for senior unsecured notes (as a percent)				1.35%
2027 Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes				$ 300,000,000
Fixed interest rate for senior unsecured notes (as a percent)				1.70%
2023 Notes [Member]
Debt Instrument [Line Items]
Number of senior unsecured notes \| debtSeries					2
2028 Notes
Debt Instrument [Line Items]
Senior unsecured notes			$ 500,000,000
Fixed interest rate for senior unsecured notes (as a percent)			5.50%

Comprehensive Income (Loss) (Re

Comprehensive Income (Loss) (Reclassification out of AOCL) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	$ (962.9)	$ (953.6)	$ (1,670)	$ (1,696.2)
Income tax (expense) benefit	(61.1)	(46.5)	(91)	(73.7)
Reclassification out of Accumulated Other Comprehensive Loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	0.9	(0.2)	(0.8)	(0.8)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| (Losses)/Gains on Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit	(0.4)	0	0.1	0.1
Net of tax	1.2	0	(0.3)	(0.3)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| (Losses)/Gains on Cash Flow Hedges [Member] \| Commodity Futures Contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	1.6	0	(0.4)	(0.4)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Defined Benefit Plan Items [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	(0.1)	(0.2)	(0.4)	(0.4)
Income tax (expense) benefit	0.1	0.1	0.2	0.2
Net of tax	$ (0.3)	$ (0.2)	$ (0.5)	$ (0.5)

Comprehensive Income (Loss) (Ch

Comprehensive Income (Loss) (Changes in AOCL) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Changes in AOCI by component (net of tax) [Roll Forward]
Balance as of beginning of period	$ (56.9)
Other comprehensive income (loss) before reclassifications	(4.7)
Amounts reclassified from AOCL	0.8
Net other comprehensive income (loss)	(3.9)
Balance as of end of period	(60.8)
Gains (Losses) on Cash Flow Hedges [Member]
Changes in AOCI by component (net of tax) [Roll Forward]
Balance as of beginning of period	(2)
Other comprehensive income (loss) before reclassifications	5.9
Amounts reclassified from AOCL	0.3
Net other comprehensive income (loss)	6.2
Balance as of end of period	4.2
Defined Benefit Pension Plan Items [Member]
Changes in AOCI by component (net of tax) [Roll Forward]
Balance as of beginning of period	(44.2)
Other comprehensive income (loss) before reclassifications	(1.1)
Amounts reclassified from AOCL	0.5
Net other comprehensive income (loss)	(0.6)
Balance as of end of period	(44.8)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Changes in AOCI by component (net of tax) [Roll Forward]
Balance as of beginning of period	(11.3)
Other comprehensive income (loss) before reclassifications	(9.5)
Amounts reclassified from AOCL	0
Net other comprehensive income (loss)	(9.5)
Balance as of end of period	(20.8)
Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest
Changes in AOCI by component (net of tax) [Roll Forward]
Balance as of beginning of period	0.6
Other comprehensive income (loss) before reclassifications	0
Amounts reclassified from AOCL	0
Net other comprehensive income (loss)	0
Balance as of end of period	$ 0.6

Fair Value Measurements (Other

Fair Value Measurements (Other Fair Value Disclosures) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Level 2 [Member] \| Senior Unsecured Notes [Member]
Other Fair Value Measurements
Senior unsecured notes	$ 1,074.6	$ 1,079.3

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 219.9	$ 222.1
Goodwill adjustment		2.2
AES
Business Acquisition [Line Items]
Net tangible assets acquired		15.9	17.6
Net tangible assets acquired, adjustment		(1.7)
Intangible assets acquired		39	36.9
Intangible assets acquired, adjustment		2.1
Goodwill		38.2	40.4
Goodwill adjustment	$ (2.2)	(2.2)
Total investment		93.1	$ 94.9
Total investment, adjustment		$ (1.8)