Graybar Electric (GRAYBAR) 10-K 9 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 01, 2023	Jun. 30, 2022
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	000-00255
Entity Registrant Name	GRAYBAR ELECTRIC COMPANY, INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-0794380
Entity Address, Address Line One	34 North Meramec Avenue
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63105
City Area Code	314
Local Phone Number	573 - 9200
Title of 12(g) Security	Common Stock - Par Value $1.00 Per Share with a
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation	false
Entity Shell Company	false
Entity Public Float			$ 457,116,660
Entity Common Stock, Shares Outstanding		26,894,493
Documents Incorporated by Reference	Portions of the documents listed below have been incorporated by reference into the indicated Part of this Annual Report on Form 10-K: Information Statement relating to the 2022 Annual Meeting of Shareholders – Part III, Items 10-14
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0000205402
Auditor Name	Ernst & Young LLP
Auditor Location	St. Louis, Missouri
Auditor Firm ID	42

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements Of Income [Abstract]
Net sales		$ 10,534.4	$ 8,767.3	$ 7,265.7
Cost of merchandise sold		(8,387.3)	(7,078.1)	(5,896.2)
Gross Margin		2,147.1	1,689.2	1,369.5
Selling, general and administrative expenses		(1,442.8)	(1,240.5)	(1,098.9)
Depreciation and amortization		(53.4)	(49.8)	(52.8)
Other income, net		2.9	11.5	7
Income from Operations		653.8	410.4	224.8
Non-operating expenses		(44.3)	(59.5)	(58.5)
Income before Taxes		609.5	350.9	166.3
Provision for income taxes		(155.8)	(87.9)	(44.2)
Net Income		453.7	263	122.1
Net income attributable to noncontrolling interests		(0.8)	(0.6)	(0.3)
Net Income attributable to Graybar Electric Company, Inc.		$ 452.9	$ 262.4	$ 121.8
Net Income attributable to Graybar Electric Company, Inc. per share of Common Stock	[1]	$ 17.05	$ 10.01	$ 4.68
[1] Adjusted for the declaration of a 15 % stock dividend in December 2022, shares related to which were issued in February 2023. Prior to the adjustment, the average common shares outstanding were 22.8 million shares and 22.6 million shares for the years ended December 31, 2021 and 2020, respectively.

Consolidated Statements Of In_2

Consolidated Statements Of Income (Parenthetical) - shares	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Common stock dividend declared, percent									15%
Average common shares outstanding									26,558,393	26,213,024	26,038,366
Previously Reported
Average common shares outstanding	23,075,526	23,091,318	23,101,970	23,113,523	22,784,473	22,768,745	22,819,914	22,829,894		22,800,000	22,600,000

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements Of Comprehensive Income [Abstract]
Net Income	$ 453.7	$ 263	$ 122.1
Other Comprehensive Income
Foreign currency translation	(9.8)	0.1	2.8
Pension and postretirement benefits liability adjustments (net of tax of $(13.0), $(22.9), and $(0.5), respectively)	37.3	66.1	1.3
Total Other Comprehensive Income	27.5	66.2	4.1
Comprehensive Income	481.2	329.2	126.2
Less: Comprehensive income attributable to noncontrolling interests, net of tax	0.6	0.6	0.5
Comprehensive Income attributable to Graybar Electric Company, Inc.	$ 480.6	$ 328.6	$ 125.7

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements Of Comprehensive Income [Abstract]
Pension and postretirement benefits liability adjustments, tax	$ (13)	$ (22.9)	$ (0.5)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 69.4	$ 48.5
Trade receivables (less allowances of $13.4 and $9.1, respectively)	1,673	1,407.6
Merchandise inventory	1,026.3	808.4
Other current assets	83.7	54.8
Total Current Assets	2,852.4	2,319.3
Property, at cost
Land	97.3	97.6
Buildings	562.1	534.1
Furniture and fixtures	282.9	261.7
Software	148	151.4
Finance leases	12.8	14
Total Property, at cost	1,103.1	1,058.8
Accumulated depreciation and amortization	(641.9)	(622.1)
Net Property	461.2	436.7
Operating Lease Right-of-use Assets	175.3	133.1
Other Non-current Assets	260.2	179.9
Total Assets	3,749.1	3,069
Current Liabilities
Short-term borrowings	31.6	124.2
Current portion of long-term debt	1.6	1.9
Trade accounts payable	1,276.8	1,055.4
Accrued payroll and benefit costs	219.2	187.8
Other accrued taxes	34.3	42.8
Current operating lease liabilities	43.9	34
Other current liabilities	213.5	142.9
Total Current Liabilities	1,820.9	1,589
Postretirement Benefits Liability	55.5	68.5
Pension Liability	140.8	159.1
Long-term Debt	3.9	4.2
Non-current Operating Lease Liabilities	147.1	107.5
Other Non-current Liabilities	55.3	8.8
Total Liabilities	2,223.5	1,937.1
SHAREHOLDERS’ EQUITY
Outstanding Common Stock	531.8	456.7
Common shares subscribed	23.7	21.1
Less subscriptions receivable	(23.7)	(21.1)
Retained Earnings	1,141	850.3
Accumulated Other Comprehensive Loss	(152.8)	(180.5)
Total Graybar Electric Company, Inc. Shareholders’ Equity	1,520	1,126.5
Noncontrolling Interests	5.6	5.4
Total Shareholders’ Equity	1,525.6	1,131.9
Total Liabilities and Shareholders’ Equity	$ 3,749.1	$ 3,069

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets [Abstract]
Trade receivables, allowances	$ 13.4	$ 9.1
Common stock, stated value per share	$ 20	$ 20
Authorized	50,000,000	50,000,000
Issued to voting trustees	22,085,481	18,956,496
Issued to shareholders	4,568,288	3,929,845
In treasury, at cost	(63,563)	(53,108)
Outstanding Common Stock	26,590,206	22,833,233
Common shares subscribed	1,185,564	1,056,109
Less subscription receivable	(1,185,564)	(1,056,109)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities
Net Income	$ 453.7	$ 263	$ 122.1
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	53.4	49.8	52.8
Non-cash operating lease expense	39.5	34.9	33.8
Deferred income taxes	(3)	(14.1)	(10.2)
Net losses (gains) on disposal of assets	0.4	(9.4)	(3)
Losses on impairment of assets			0.3
Non-cash pension settlement charge	27	30.4	27.7
Net income attributable to noncontrolling interests	(0.8)	(0.6)	(0.3)
Changes in assets and liabilities:
Trade receivables	(235.7)	(274.5)	(5.2)
Merchandise inventory	(201)	(187.6)	68
Other current assets	(28.6)	2.5	(4.9)
Other non-current assets	(43.3)	(2)	(1.1)
Trade accounts payable	213.6	157.9	48.1
Accrued payroll and benefit costs	30.5	64.8	(30.2)
Other current liabilities	50.8	32.6	25.1
Other non-current liabilities	(3.6)	(20.2)	(21.3)
Total adjustments to net income	(100.8)	(135.5)	179.6
Net cash provided by operating activities	352.9	127.5	301.7
Cash Flows from Investing Activities
Proceeds from disposal of property	0.6	9.9	7.9
Capital expenditures for property	(67.7)	(70.9)	(31.1)
Acquisitions, net of cash acquired	(83.7)	(88.7)	(27.2)
Net cash used by investing activities	(150.8)	(149.7)	(50.4)
Cash Flows from Financing Activities
Net (decrease) increase in short-term borrowings	(92.6)	74.2	(88)
Principal payments under finance arrangements	(2.1)	(2.3)	(3.9)
Payment of deferred financing fees		(2.2)
Proceeds from advance payments on common stock prior to issuance	1	2.1
Sales of common stock	20.4	20.5	19.1
Purchases of common stock	(14.7)	(15.9)	(16.5)
Sales of noncontrolling interests’ common stock		1.1
Purchases of noncontrolling interests’ common stock	(0.4)	(0.8)	(0.9)
Dividends paid	(92.8)	(137.2)	(90.7)
Net cash used by financing activities	(181.2)	(60.5)	(180.9)
Net Increase (Decrease) in Cash	20.9	(82.7)	70.4
Cash, Beginning of Year	48.5	131.2	60.8
Cash, End of Year	69.4	48.5	131.2
Non-cash Investing and Financing Activities
Acquisitions of equipment under finance leases	1.5	0.4	0.3
Acquisitions of assets under operating leases	82.1	54.7	35.3
Cash Paid During the Year for:
Interest, net of amounts capitalized	1.6	1	3.8
Income taxes, net of refunds	$ 164.9	$ 96.7	$ 55.3

Consolidated Statements Of Chan

Consolidated Statements Of Changes in Shareholders’ Equity - USD ($) $ in Millions	Common Stock Including Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Total
Balance at Dec. 31, 2019	$ 449.5	$ 694	$ (250.6)	$ 4.9	$ 897.8
Net income		121.8		0.3	122.1
Other comprehensive income (loss)			3.9	0.2	4.1
Stock issued	19.1				19.1
Stock purchased	(16.5)			(0.9)	(17.4)
Dividends declared		(90.7)			(90.7)
Balance at Dec. 31, 2020	452.1	725.1	(246.7)	4.5	935
Net income		262.4		0.6	263
Other comprehensive income (loss)			66.2		66.2
Stock issued	20.5				21.6
Stock issued				1.1
Stock purchased	(15.9)			(0.8)	(16.7)
Dividends declared		(137.2)			(137.2)
Balance at Dec. 31, 2021	456.7	850.3	(180.5)	5.4	1,131.9
Net income		452.9		0.8	453.7
Other comprehensive income (loss)			27.7	(0.2)	27.5
Stock issued	20.4				20.4
Stock purchased	(14.7)			(0.4)	(15.1)
Dividends declared		(162.2)			(92.8)
Dividends declared	69.4
Balance at Dec. 31, 2022	$ 531.8	$ 1,141	$ (152.8)	$ 5.6	$ 1,525.6

Description Of The Business

Description Of The Business	12 Months Ended
	Dec. 31, 2022
Description Of The Business [Abstract]
Description Of The Business	1. DESCRIPTION OF THE BUSINESS Graybar Electric Company, Inc. (“Graybar”, “Company”, "we", "our", or "us") is a New York corporation, incorporated in 1925. We are engaged in the distribution of electrical and communications and data networking products and are a provider of related supply chain management and logistics services. We primarily serve customers in the construction, commercial, institutional and government ("CIG"), and industrial & utility vertical markets, with products and services that support new construction, infrastructure updates, building renovation, facility maintenance, repair and operations ("MRO"), and original equipment manufacturers ("OEM"). In our primary role as third-party wholesale distributor, we neither manufacture nor contract to manufacture the products that we sell; however, one of our subsidiaries may contract to manufacture some of its private label lighting fixtures. Our business activity is primarily based in the United States (“U.S.”). We also have subsidiary operations with distribution facilities in Canada and Puerto Rico.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Our accounting policies conform to generally accepted accounting principles in the U.S. ("GAAP”) and are applied on a consistent basis among all years presented. Significant accounting policies are described below. Principles of Consolidation The consolidated financial statements include the accounts of Graybar and our subsidiary companies. All material intercompany balances and transactions have been eliminated. The ownership interests that are held by owners other than the Company are in subsidiaries owned by the Company and are accounted for and reported as noncontrolling interests. Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Revenue Recognition Sales revenue is recognized when performance obligations are satisfied, which is typically upon delivery of the product to the customer. Sometimes product is purchased from the manufacturer and drop-shipped to the customer. We generally take control of the goods when shipped by the manufacturer and then recognize revenue when control of the product transfers to the customer. Revenues recognized are primarily for product sales, but may also include freight and handling charges. Our standard warehouse shipping terms are FOB shipping point, under which control passes to the customer at the time of shipment. Revenue is reported net of all taxes, primarily sales tax, assessed by governmental authorities as a result of revenue-producing transactions. Outgoing Freight Expenses We record approximately 95 % of outgoing freight expenses as a component of selling, general and administrative expenses. Total outgoing freight expenses were $ 101.0 million, $ 78.9 million, and $ 68.8 million for the years ended December 31, 2022, 2021, and 2020, respectively. Cash and Cash Equivalents We account for cash on hand, deposits in banks, and other short-term, highly liquid investments with an original maturity of three months or less as cash and cash equivalents. Allowance for Credit Losses We perform ongoing credit evaluations of our customers, and a significant portion of our trade receivables is secured by mechanic’s lien or payment bond rights. We maintain allowances to reflect the expected uncollectability of trade receivables based on past collection history pooled on the aging of the receivables, specific risks identified in the receivables portfolio based on current conditions, and expected future economic conditions when necessary. Although actual credit losses have historically been within management’s expectations, additional allowances may be required if the financial condition of our customers were to deteriorate. Merchandise Inventory Our inventory, comprised entirely of finished goods, is stated at the lower of cost (generally determined using the last-in, first-out (“LIFO”) cost method) or market. LIFO accounting is a method of accounting that, compared with other inventory accounting methods, generally provides better matching of current costs with current sales. We make provisions for obsolete or excess inventories as necessary to reflect reductions in inventory value. Vendor Allowances Our agreements with many of our suppliers provide for us to earn volume incentives based on purchases during the agreement period. Based on the provisions of our vendor agreements, we develop vendor accrual rates by estimating our performance under the agreements and the amounts that will be earned. We perform analyses and review historical trends to ensure the deferred amounts earned are appropriately recorded. Certain vendor agreements contain purchase volume incentives that provide for increased funding when graduated purchase volumes are met. Amounts accrued throughout the year are based on estimates of future activity levels, and could be materially impacted if actual purchase volumes differ. Changes in the estimated amount of incentives are treated as changes in estimate and are recognized in income from operations in the period in which the change in estimate occurs. In the event that the operating performance of our suppliers were to decline, however, there can be no assurance that amounts earned would be paid or that the volume incentives would continue to be included in future agreements. Property and Depreciation Property is recorded at cost. Depreciation is expensed on a straight-line basis over the estimated useful lives of the related assets. Interest costs incurred to finance expenditures for major long-term construction projects are capitalized as part of the asset's historical cost and included in property, then depreciated over the useful life of the asset. Leasehold improvements are amortized over the term of the lease or the estimated useful life of the improvement, whichever is shorter. Expenditures for maintenance and repairs are charged to expense when incurred, while the costs of significant improvements, which extend the useful life of the underlying asset, are capitalized. Fair Value GAAP has established a fair value hierarchy, which prioritizes the inputs used in measuring fair value. The tiers in the hierarchy include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own data inputs and assumptions. We have used fair value measurements to value our pension plan assets. Foreign Currency Exchange Rate The functional currency for our Canadian subsidiary is the Canadian dollar. Accordingly, its balance sheet amounts are translated at the exchange rates in effect at the end of each reporting period and its statements of income amounts are translated at the average rates of exchange prevailing during the current period. Currency translation adjustments are included in accumulated other comprehensive loss. Goodwill Our goodwill is not amortized, but rather tested annually for impairment. Goodwill is reviewed annually in the fourth quarter and when circumstances or other events might indicate that impairment may have occurred. We first perform a qualitative assessment of goodwill impairment. The qualitative assessment considers several factors including the excess fair value over carrying value as of the last quantitative impairment test, the length of time since the last fair value measurement, the current carrying value, market conditions, actual performance compared to forecasted performance, and the current business outlook. If the qualitative assessment indicates that it is more likely than not that goodwill is impaired, the reporting unit would then be quantitatively tested for impairment. If a quantitative assessment would be required, the fair value would be determined using a variety of assumptions including estimated future cash flows of the reporting unit and applicable discount rates. Definite Lived Intangible Assets The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed on a straight-line basis over the estimated periods benefited. Customer relationships, trade names and other non-contractual intangible assets with determinable lives are amortized over periods generally ranging from 1.5 to 20 years. Intangible assets are tested for impairment if events or circumstances occur indicating that the respective asset might be impaired. Income Taxes We recognize deferred tax assets and liabilities to reflect the future tax consequences of events that have been recognized in the financial statements or tax returns. A deferred tax asset or liability results from the temporary difference between an item’s carrying value as reflected in the financial statements and its tax basis, and is calculated using enacted applicable tax rates. We assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe that recovery is not likely, a valuation allowance is established. Changes in the valuation allowance, when recorded, are included in the provision for income taxes in the consolidated financial statements. We classify interest expense and penalties as part of our provision for income taxes based upon applicable federal and state interest/underpayment percentages. We assess uncertainty regarding tax positions taken in previously filed returns and record reserves in accordance with the guidance under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC") 740-10, "Accounting for Uncertainty in Income Taxes". Other Postretirement Benefits We account for postretirement benefits other than pensions by accruing the costs of benefits to be provided over the eligible employees’ periods of active service. These costs are determined on an actuarial basis. Our consolidated balance sheets reflect the funded status of postretirement benefits. Pension Plan We sponsor a noncontributory defined benefit pension plan accounted for by accruing the cost to provide the benefits over the eligible employees’ periods of active service. These costs are determined on an actuarial basis. Our consolidated balance sheets reflect the funded status of the defined benefit pension plan. Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and non-current operating lease liabilities on our consolidated balance sheets. Amounts related to finance leases are included in property , current portion of long-term debt , and long-term debt on our consolidated balance sheets. ROU assets and lease liabilities are recognized and measured on the date the underlying asset is made available to us. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. We use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For certain leases, such as real estate and information technology (“IT”) equipment, we account for the lease and non-lease components as a single lease component. For all other leases, we account for the lease and non-lease components separately. Leases with a term of twelve months or less are not recorded on the consolidated balance sheets. Lease expenses associated with short-term leases are immaterial and are recorded in the consolidated statements of income in selling, general and administrative expenses. Additionally, for certain vehicle leases, we apply a portfolio approach to account for the operating lease ROU assets and liabilities. Non-operating Expenses Non-operating expenses are comprised of interest expense, net and non-service cost components of the net periodic benefit cost for the pension and other postretirement benefit plans. The non-service cost components include interest cost, expected return on plan assets, amortization of net actuarial gains/losses, amortization of prior service costs/gains, and charges due to settlement of certain plan liabilities. New Accounting Standards In September 2022, the FASB issued Accounting Standard Update (“ASU “ or “Update”) 2022-04, “Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires entities to disclose the key terms of supplier finance programs used in connection with the purchase of goods and services along with information about their obligations under these programs, including a rollforward of those obligations. This Update does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The Update is effective for all entities for fiscal years beginning after December 15, 2022 and interim periods within those fiscal years, except for the rollforward requirement, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, and guidance shall be applied retrospectively, other than the rollforward requirement, which shall be applied prospectively. While we do not have a supplier finance program currently in place, we are considering introducing a supplier finance program in 2023 and, therefore, are simultaneously evaluating the potential impact of adopting the Update on our consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848” which provides final guidance that defers the sunset date for applying the reference rate reform relief in ASC 848 to December 31, 2024, from December 31, 2022. The guidance is effective upon issuance. Although we have the option under our Amended Credit Agreement, as defined in Note 12, “Debt”, to continue to use LIBOR until June 30, 2023, we expect to transition to the Secured Overnight Financing Rate (“SOFR”) as our reference rate upon positive consent by all lenders in our Amended Credit Agreement prior to June 30, 2023. The adoption of this Update did not have a material impact on our consolidated financial statements.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue [Abstract]
Revenue	3. REVENUE The following table summarizes the percentages of our net sales attributable to each of our vertical markets for the years ended December 31, 2022, 2021 and 2020: For the Years Ended December 31, 2022 2021 2020 Construction 56.8 % 58.5 % 58.2 % CIG 25.8 25.5 26.7 Industrial & Utility 17.4 16.0 15.1 Total net sales 100.0 % 100.0 % 100.0 % Certain reclassifications have been made to the vertical market assigned to customers in the prior years’ information to conform to the December 31, 2022 presentation. We had no material contract assets, contract liabilities, or deferred contract costs recorded on the consolidated balance sheet as of December 31, 2022 and 2021. In addition, for the years ended December 31, 2022, 2021, and 2020, revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period is not material.

Allowances For Cash Discounts A

Allowances For Cash Discounts And Credit Losses	12 Months Ended
	Dec. 31, 2022
Allowances For Cash Discounts And Credit Losses [Abstract]
Allowances For Cash Discounts And Credit Losses	4. ALLOWANCES FOR CASH DISCOUNTS AND CREDIT LOSSES The following table summarizes the activity in the allowances for cash discounts and credit losses: Beginning Balance Provision (Charged to Expense) Deductions Ending Balance For the Year Ended December 31, 2022 Allowance for cash discounts $ 3.8 $ 47.4 $ ( 47.6 ) $ 3.6 Allowance for credit losses 5.3 8.9 ( 4.4 ) 9.8 Total $ 9.1 $ 56.3 $ ( 52.0 ) $ 13.4 For the Year Ended December 31, 2021 Allowance for cash discounts $ 2.9 $ 44.3 $ ( 43.4 ) $ 3.8 Allowance for credit losses 4.0 1.9 ( 0.6 ) 5.3 Total $ 6.9 $ 46.2 $ ( 44.0 ) $ 9.1 For the Year Ended December 31, 2020 Allowance for cash discounts $ 2.2 $ 35.1 $ ( 34.4 ) $ 2.9 Allowance for credit losses 4.0 2.6 ( 2.6 ) 4.0 Total $ 6.2 $ 37.7 $ ( 37.0 ) $ 6.9

Inventory

Inventory	12 Months Ended
	Dec. 31, 2022
Inventory [Abstract]
Inventory	5. INVENTORY Our inventory, comprised entirely of finished goods, is stated at the lower of cost (generally determined using the LIFO cost method) or market. Inventories valued using the LIFO method comprised 85 % and 87 % of the total inventories at December 31, 2022 and 2021, respectively. Had the first-in, first-out (“FIFO”) method been used, merchandise inventory would have been $ 492.8 million and $ 427.9 million greater than reported under the LIFO method at December 31, 2022 and 2021, respectively. We did no t liquidate any portion of previously-created LIFO layers in 2022 and 2021. In 2020, we liquidated portions of previously created LIFO layers, resulting in decreases in cost of merchandise sold of $ 4.1 million. Reserves for excess and obsolete inventories were $ 17.9 million and $ 14.0 million at December 31, 2022 and 2021, respectively. The change in the reserve for excess and obsolete inventories, included in cost of merchandise sold, was $ 3.9 million, $ 5.4 million, and $( 0.6 ) million for the years ended December 31, 2022, 2021, and 2020, respectively.

Property And Depreciation

Property And Depreciation	12 Months Ended
	Dec. 31, 2022
Property And Depreciation [Abstract]
Property and Depreciation	6. PROPERTY AND DEPRECIATION We provide for depreciation and amortization using the straight-line method over the following estimated useful asset lives: Classification Estimated Useful Asset Life Buildings 42 years Leasehold improvements Over the shorter of the asset’s life or the lease term Furniture, fixtures, equipment and software 3 to 14 years Assets held under finance leases Over the shorter of the asset’s life or the lease term Depreciation expense was $ 37.6 million, $ 36.2 million, and $ 36.7 million in 2022, 2021, and 2020, respectively. At the time property is retired or otherwise disposed, the asset and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is credited or charged to other income, net. We consider properties to be assets held for sale when all of the following criteria are met: (i) a formal commitment to a plan to sell a property has been made and exercised; (ii) the property is available for sale in its present condition; (iii) actions required to complete the sale of the property have been initiated; (iv) sale of the property is probable and we expect the sale will occur within one year; and (v) the property is being actively marketed for sale at a price that is reasonable given its current market value. Upon designation as an asset held for sale, we record the carrying value of each property at the lower of its carrying value or its estimated fair value, less estimated costs to sell, and depreciation of the property ceases. We had $ 6.7 million of assets held for sale at December 31, 2022 compared to no assets held for sale at December 31, 2021. We did no t sell any assets classified as held for sale in 2022. During the year ended December 31, 2021, we sold assets classified as held for sale with a net book value of $ 0.4 million, and recorded a net gain of $ 9.1 million in other income, net . During the year ended December 31, 2020, we sold assets classified as held for sale with a net book value of $ 4.4 million, and recorded a net gain of $ 3.4 million in other income, net . We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. For assets classified as held and used, impairment may occur if projected undiscounted cash flows are not adequate to cover the carrying value of the assets. In such cases, additional analysis is conducted to determine the amount of the loss to be recognized. The impairment loss is calculated as the difference between the carrying amount of the asset and its estimated fair value. The analysis requires estimates of the amount and timing of projected cash flows and, where applicable, selection of an appropriate discount rate. Such estimates are critical in determining whether any impairment charge should be recorded and the amount of such charge if an impairment loss is deemed necessary.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	7. LEASES We have operating and finance leases for corporate offices, warehouse buildings, sales offices, branch locations, vehicles, and certain equipment. Our leases have remaining lease terms of one to ten years , some of which may include options to extend the leases for up to five years , and some of which may include options to terminate the leases within one year . In addition to fixed lease payments, we incur variable lease charges that are recognized as incurred. These charges are primarily for maintenance and real estate taxes on leased facilities. The components of the lease expense for the years ended December 31, 2022, 2021, and 2020 were as follows: For the Years Ended December 31, 2022 2021 2020 Operating lease cost $ 43.8 $ 38.4 $ 37.9 Finance lease cost: Amortization of right-of-use assets 1.9 2.0 2.1 Interest on lease liabilities 0.4 0.5 0.6 Total finance lease cost 2.3 2.5 2.7 Variable lease cost 12.4 10.5 10.6 Total lease cost $ 58.5 $ 51.4 $ 51.2 Supplemental balance sheet information at December 31, 2022 and 2021 related to leases was as follows: December 31, 2022 2021 Operating leases: Operating lease right-of-use assets $ 175.3 $ 133.1 Current operating lease liabilities $ 43.9 $ 34.0 Non-current operating lease liabilities 147.1 107.5 Total operating lease liabilities $ 191.0 $ 141.5 Finance leases: Property, at cost $ 12.8 $ 14.0 Accumulated depreciation and amortization ( 8.6 ) ( 9.2 ) Net property $ 4.2 $ 4.8 Current obligations of finance leases $ 1.6 $ 1.9 Finance leases, net of current obligations 3.9 4.2 Total finance lease liabilities $ 5.5 $ 6.1 Weighted average remaining lease term: Operating leases 5.5 years 5.0 years Finance leases 3.6 years 4.0 years Weighted average discount rate: Operating leases 3.2 % 2.5 % Finance leases 7.3 % 7.8 % Supplemental cash flow and other information for the years ended December 31, 2022, 2021, and 2020 related to leases was as follows: For the Years Ended December 31, 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 42.6 $ 39.0 $ 37.3 Operating cash flows from finance leases 0.4 0.5 0.6 Financing cash flows from finance leases 2.1 2.3 2.2 Right-of-use assets obtained in exchange for lease liabilities: Operating leases (A) $ 82.1 $ 54.7 $ 35.3 Finance leases 1.5 0.4 0.3 (A) Includes $ 2.9 million, $ 15.8 million, and $ 1.6 million of operating leases established as a result of our acquisitions during 2022, 2021 and 2020, respectively. See Note 17, “Acquisitions”, for further information. Future minimum lease payments under non-cancellable leases as of December 31, 2022, were as follows: December 31, 2022 Operating Leases Finance Leases Future minimum lease payments 2023 $ 49.2 $ 2.0 2024 44.4 1.8 2025 32.9 1.4 2026 26.5 0.5 2027 20.2 0.3 Thereafter 36.2 0.3 Total future minimum lease payments $ 209.4 $ 6.3 Less: imputed interest ( 18.4 ) ( 0.8 ) Total lease obligation $ 191.0 $ 5.5 Less: current obligations ( 43.9 ) ( 1.6 ) Long-term lease obligation $ 147.1 $ 3.9

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill And Other Intangible Assets [Abstract]
Goodwill And Other Intangible Assets	8. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill, included in other non-current assets in our consolidated balance sheets, for the years ended December 31 were as follows: 2022 2021 Beginning balance $ 57.1 $ 37.1 Acquisitions and purchase accounting adjustments 26.5 20.0 Foreign currency translation impact ( 0.5 ) — Ending balance $ 83.1 $ 57.1 As of December 31, 2022, we have completed our annual impairment test and concluded that there is no impairment of our goodwill. We did no t recognize any goodwill impairment in 2021 and 2020. Other Intangible Assets Other intangible assets, included in other non-current assets in our consolidated balance sheets, consist of the following: As of December 31, 2022 Asset Life Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 6 to 20 years 12.9 years $ 78.4 $ ( 16.4 ) $ 62.0 Trade name 5 to 20 years 18.9 years 33.2 ( 5.9 ) 27.3 Non-compete agreements 3 to 7 years 5.3 years 1.3 ( 0.5 ) 0.8 Other intangible assets 1.5 to 10 years 2.7 years 1.4 ( 0.2 ) 1.2 Total 14.4 years $ 114.3 $ ( 23.0 ) $ 91.3 As of December 31, 2021 Asset Life Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 6 to 20 years 13.4 years $ 57.4 $ ( 11.6 ) $ 45.8 Trade name 5 to 20 years 18.9 years 23.2 ( 4.6 ) 18.6 Non-compete agreements 3 to 7 years 5.5 years 0.9 ( 0.4 ) 0.5 Other intangible assets 10 years 10 years 0.1 ( 0.1 ) — Total 14.9 years $ 81.6 $ ( 16.7 ) $ 64.9 We did no t incur impairment losses related to our other intangible assets during the years ended December 31, 2022, 2021, and 2020. Amortization expense for other intangible assets was $ 6.3 million, $ 4.3 million, and $ 2.5 million for the years ended December 31, 2022, 2021, and 2020, respectively. Estimated future amortization expense related to our intangible assets for the years ending December 31 is as follows: 2023 $ 9.3 2024 9.0 2025 8.4 2026 7.0 2027 6.8 After 2027 50.8 $ 91.3

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Income Taxes	9. INCOME TAXES The components of income before taxes and the provision for income taxes recorded in the consolidated statements of income are as follows: For the Years Ended December 31, Components of Income before Taxes 2022 2021 2020 Domestic $ 573.6 $ 327.6 $ 151.1 Foreign 35.9 23.3 15.2 Income before taxes $ 609.5 $ 350.9 $ 166.3 For the Years Ended December 31, Components of Income Tax Provision 2022 2021 2020 Current expense: U.S. Federal $ 119.5 $ 77.3 $ 38.5 State 28.8 18.2 11.4 Foreign 10.5 6.5 4.5 Total current expense $ 158.8 $ 102.0 $ 54.4 Deferred benefit: U.S. Federal $ ( 2.1 ) $ ( 10.9 ) $ ( 7.8 ) State ( 0.6 ) ( 3.2 ) ( 2.3 ) Foreign ( 0.3 ) — ( 0.1 ) Total deferred benefit $ ( 3.0 ) $ ( 14.1 ) $ ( 10.2 ) Total income tax provision $ 155.8 $ 87.9 $ 44.2 A reconciliation between the statutory U.S. federal income tax rate and the effective tax rate in the consolidated statements of income is as follows: For the Years Ended December 31, 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal benefit 3.7 3.3 4.3 Other, net 0.9 0.7 1.3 Effective tax rate 25.6 % 25.0 % 26.6 % We determine our deferred tax assets and liabilities based upon the difference between the financial statement and tax bases of our assets and liabilities calculated using enacted applicable tax rates. We then assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe that recovery is not likely, we establish a valuation allowance. Changes in the valuation allowance, when recorded, are included in the provision for income taxes in the consolidated financial statements. The following deferred tax assets (liabilities) were recorded at December 31: Assets (Liabilities) 2022 2021 Pension $ 28.9 $ 32.8 Operating lease liabilities 47.2 34.4 Postretirement benefits 16.0 19.3 Inventory 20.1 25.0 Other deferred tax assets 19.6 5.8 Payroll accruals 5.4 7.2 Bad debt reserves 2.2 0.7 Subtotal 139.4 125.2 Less: valuation allowances ( 0.8 ) ( 0.5 ) Deferred tax assets 138.6 124.7 Fixed assets ( 41.4 ) ( 38.8 ) Operating lease right-of-use assets ( 43.2 ) ( 32.3 ) Other deferred tax liabilities ( 22.3 ) ( 9.1 ) Computer software ( 0.8 ) ( 2.4 ) Deferred tax liabilities ( 107.7 ) ( 82.6 ) Net deferred tax assets $ 30.9 $ 42.1 Deferred income taxes included in non-current assets (liabilities) at December 31 were: 2022 2021 Deferred tax assets included in other non-current assets $ 33.6 $ 45.2 Deferred tax liabilities included in other non-current liabilities ( 2.7 ) ( 3.1 ) Total $ 30.9 $ 42.1 Operating loss and tax credit carryforwards included in net deferred tax assets, all of which expire between 2025 and 2032, at December 31 were: 2022 2021 U.S. Federal $ 0.8 $ 0.5 State 0.2 0.2 We have placed valuation allowances of $ 0.8 million and $ 0.5 million for 2022 and 2021, respectively, relating to federal foreign tax credits that are not expected to be utilized prior to expiration. As of December 31, 2022, we have no material undistributed earnings of non-U.S. subsidiaries due to the one-time transition tax and global intangible low-taxed income (“GILTI”) provisions enacted under the Tax Cuts and Jobs Act (“TCJA”). No additional income taxes have been provided for any outside basis differences inherent in these foreign entities, as these amounts continue to be indefinitely reinvested in foreign operations. We have made an accounting policy election to treat GILTI as a period cost rather than accounting for it as part of deferred taxes. Due to the high-tax exception election made in 2021 and 2022, our GILTI period cost was immaterial in each year. Our federal income tax returns for the tax years 2019 and forward are available for examination by the United States Internal Revenue Service (“IRS”). The statute of limitation for the 2019 federal return will expire on October 15, 2023, unless extended by consent. Our state income tax returns for 2018 through 2022 remain subject to examination by various state authorities with the latest period closing on December 31, 2027. We have not extended the statutes of limitations in any state jurisdictions with respect to years prior to 2018. On August 16, 2022, President Biden signed H.R. 5376, the Inflation Reduction Act of 2022 (“IRA”). This legislation includes a 15% corporate alternative minimum tax among its key tax provisions effective for years beginning after December 31, 2022. We do not anticipate a material impact to the Company as historical earnings do not exceed applicable thresholds. We continue to monitor other IRA provisions as authoritative guidance becomes available. Our unrecognized tax benefits of $ 0.5 million, $ 1.0 million, and $ 1.7 million as of December 31, 2022, 2021, and 2020, respectively, are uncertain tax positions that would impact our effective tax rate if recognized. We are periodically engaged in tax return examinations, reviews of statute of limitations periods, and settlements surrounding income taxes. We do not anticipate a material change in unrecognized tax benefits during the next twelve months. Our uncertain tax benefits, and changes thereto, during 2022, 2021, and 2020 were as follows: 2022 2021 2020 Balance at January 1, $ 1.0 $ 1.7 $ 1.9 Additions based on tax positions related to current year — — 0.2 Reductions for tax positions of prior years ( 0.5 ) ( 0.7 ) ( 0.1 ) Settlements — — ( 0.3 ) Balance at December 31, $ 0.5 $ 1.0 $ 1.7 We classify interest expense and penalties as part of our provision for income taxes based upon applicable federal and state interest/underpayment percentages. We have accrued $ 0.1 million and $ 0.2 million in interest and penalties at December 31, 2022 and 2021, respectively. Interest was computed on the difference between the provision for income taxes recognized in accordance with GAAP and the amount of benefit previously taken or expected to be taken in our federal, state, and local income tax returns.

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2022
Capital Stock [Abstract]
Capital Stock	10. CAPITAL STOCK Our common stock is 100 % owned by active and retired employees, and there is no public trading market for our common stock. Since 1928, substantially all of the issued and outstanding shares of common stock have been held of record by voting trustees under successive voting trust agreements. A new Voting Trust Agreement was established effective March 3, 2017, which expires by its terms on March 1, 2027 because under applicable New York law, a voting trust may not have a term greater than ten years. At December 31, 2022, approximately 83 % of our outstanding common stock was held in the voting trust. The participation of shareholders in the voting trust is voluntary at the time the voting trust is created, but is irrevocable during its term. Shareholders who elect not to participate in the voting trust hold their common stock as shareholders of record. Shareholders may elect to participate in the voting trust at any time during the term of the voting trust. No holder of our common stock or voting trust interests representing our common stock ("common stock", "common shares", or "shares") may sell, transfer or otherwise dispose of any shares without first offering us the option to purchase those shares at the price at which they were issued. We also have the option to purchase at the issue price the common shares of any shareholder who ceases to be an employee for any reason other than death or "retirement" (as defined in our amended restated certificate of incorporation), and on the first anniversary of any holder's death. In the past, we have always exercised these purchase options and we expect to continue to do so in the foreseeable future. However, we can make no assurance that we will continue to exercise our purchase option in the future. All outstanding shares have been issued at $ 20.00 per share. During 2022, eligible employees and qualified retirees subscribed for 1,185,564 shares totaling $ 23.7 million. Subscribers elected to make payments under one of the following options: (i) all shares subscribed for on or before January 6, 2023; or (ii) all shares subscribed for in installments paid through payroll deductions (or in certain cases where a subscriber is no longer on our payroll, through direct monthly payments) over an eleven-month period. Common shares were delivered to subscribers as of January 13, 2023, in the case of shares paid for on or before January 6, 2023. Shares will be issued and delivered to subscribers on a quarterly basis, as of the tenth day of March, June, September, and December, to the extent full payments for shares are made in the case of subscriptions under the installment method. Shown below is a summary of shares purchased and retired by the Company during the three years ended December 31: Shares of Common Stock Purchased Retired 2022 735,641 725,186 2021 794,227 798,166 2020 824,685 830,338 We also have authorized 10,000,000 shares of Delegated Authority Preferred Stock (“preferred stock”), par value one cent ($ 0.01 ). The preferred stock may be issued in one or more series, with the designations, relative rights, preferences, and limitations of shares of each such series being fixed by a resolution of our Board of Directors. There were no shares of preferred stock outstanding at December 31, 2022 and 2021. On December 7, 2022, our Board of Directors declared a 15 % common stock dividend. Each shareholder was entitled to three shares of common stock for every twenty shares held as of December 12, 2022. The stock was issued on February 3, 2023.

Net Income Per Share Of Common

Net Income Per Share Of Common Stock	12 Months Ended
	Dec. 31, 2022
Net Income Per Share Of Common Stock [Abstract]
Net Income Per Share Of Common Stock	11. NET INCOME PER SHARE OF COMMON STOCK The computation of net income per share of common stock is based on the average number of common shares outstanding during each year, adjusted in all periods presented for the declaration of a 15 % stock dividend declared in 2022. The average number of shares used in computing net income per share of common stock at December 31, 2022, 2021, and 2020 was 26,558,393 shares, 26,213,024 shares, and 26,038,366 shares, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt [Abstract]
Debt	12. DEBT December 31, Long-term Debt 2022 2021 Finance arrangements, various maturities, with a weighted average interest rate of 7.3 % $ 5.5 $ 6.1 Less current portion ( 1.6 ) ( 1.9 ) Long-term Debt $ 3.9 $ 4.2 Long-term Debt matures as follows: 2023 $ 1.6 2024 1.6 2025 1.2 2026 0.5 2027 0.3 After 2027 0.3 $ 5.5 The carrying amount of our outstanding long-term, fixed-rate debt exceeded its fair value by $ 0.3 million and $ 0.9 million at December 31, 2022 and 2021, respectively. The fair value of the long-term, fixed-rate debt is estimated by calculating future cash flows at interpolated Treasury yields with similar maturities, plus an estimate of our credit risk spread. The fair value of our variable-rate short- and long-term debt approximates its carrying value at December 31, 2022 and 2021, respectively. Revolving Credit Facility At December 31, 2022 and 2021, we, along with Graybar Canada Limited, our Canadian operating subsidiary (“Graybar Canada”), had an unsecured, five-year , $ 750.0 million committed revolving credit agreement maturing in August 2026 with Bank of America, N.A. and the other lenders named therein (the “Amended Credit Agreement”), which includes a combined letter of credit sub-facility of up to $ 25.0 million, a U.S. swing-line loan facility of up to $ 75.0 million, and a Canadian swing-line loan facility of up to $ 20.0 million. The Amended Credit Agreement includes a $ 100.0 million sublimit (in U.S. or Canadian dollars) for borrowings by Graybar Canada. Our borrowing availability under the facility is reduced by the amount of borrowings by Graybar Canada, but we may use the sublimit amount to increase our borrowings, to the extent available. If we were to use available borrowings under the Amended Credit Agreement that included the sublimit amount, then Graybar Canada’s available capacity would be reduced by our use of such amount. The Amended Credit Agreement contains an accordion feature, which allowed us to request increases in the aggregate borrowing commitments of up to $ 375.0 million. Interest on our borrowings under the Amended Credit Agreement will be based on, at the borrower’s election, either (A) (i) the base rate (as defined in the agreement) or (ii) LIBOR (in the case U.S. dollar-denominated borrowings) or (B) (i) the base rate (as defined in the agreement) or (ii) CDOR (in the case of Graybar Canada as borrower with respect to Canadian dollar-denominated borrowings), in each case plus an applicable margin, as determined by the pricing grid set forth in the Amended Credit Agreement. The Amended Credit Agreement added LIBOR fallback language to address the announced future cessation of specified dollar LIBOR tenor settings. In connection with such a borrowing, the applicable borrower will also select the term of the loan from available tenors, up to six months, or automatically renew with the consent of the lenders. Swing line loans, which are daily loans, will bear interest at a rate based on, at the borrower’s election, either (i) the base rate or (ii) the daily floating Eurodollar rate (or CDOR, in the case of Graybar Canada with respect to Canadian dollar-denominated borrowings). In addition to interest payments, there are certain fees and obligations associated with borrowings, swing-line loans, letters of credit and other administrative matters. Borrowings of Graybar Canada may be in U.S. dollars or Canadian dollars. The obligations of Graybar Canada are secured by the guaranty of Graybar and any material domestic subsidiaries of Graybar (as defined). Under no circumstances will Graybar Canada use its borrowings to benefit Graybar or its operations, including without limitation to repay any of Graybar’s obligations under the facility. The Amended Credit Agreement provides for a quarterly commitment fee ranging from 0.25 % to 0.40 % per annum, subject to adjustment based upon the consolidated leverage ratio for a fiscal quarter, and letter of credit fees ranging from 1.00 % to 1.60 % per annum payable quarterly, subject to such adjustment. Borrowings can be either base rate loans plus a margin ranging from 0.00 % to 0.60 %, or LIBOR loans plus a margin ranging from 1.00 % to 1.60 %, both subject to adjustment based upon the consolidated leverage ratio, or an alternative benchmark rate. Availability under the Amended Credit Agreement is subject to the accuracy of representations and warranties and absence of a default and, in the case of Canadian borrowings denominated in Canadian dollars, the absence of a material adverse change in the national or international financial markets, which would make it impracticable to lend Canadian dollars. The Amended Credit Agreement contains customary affirmative and negative covenants for credit facilities of this type, including limitations on us and all but certain of our subsidiaries with respect to indebtedness (with specified, limited exceptions), liens, changes in the nature of our business, investments, mergers and acquisitions, issuance of equity securities, dispositions of assets and dissolution of certain subsidiaries, transactions with affiliates, as well as securitizations, factoring transactions, and transactions with sanctioned parties or in violation of certain US or Canadian anti-corruption and anti-money laundering laws. There are also maximum leverage ratio and minimum interest coverage ratio financial covenants to which we will be subject during the term of the Amended Credit Agreement. The Amended Credit Agreement also provides for customary events of default, including a failure to pay principal, interest or fees when due, failure to comply with covenants, the fact that any representation or warranty made by any of the credit parties is materially incorrect, the occurrence of an event of default under certain other indebtedness by us and our subsidiaries, the commencement of certain insolvency or receivership events affecting any of the credit parties, certain actions under the Employee Retirement Income Security Act of 1974 ("ERISA") and the occurrence of a change in control of any of the credit parties (subject to certain permitted transactions as described in the Amended Credit Agreement). Upon the occurrence of an event of default, the commitments of the lenders may be terminated and all outstanding obligations of the credit parties under the Amended Credit Agreement may be declared immediately due and payable. We were in compliance with all covenants under the Amended Credit Agreement as of December 31, 2022 and 2021, respectively. There were $ 31.6 million in short-term borrowings at December 31, 2022, of which $ 30.0 million were under the Amended Credit Agreement. There were $ 124.2 million in short-term borrowings at December 31, 2021, all of which were under the Amended Credit Agreement. Short-term borrowings outstanding during the year ended December 31, 2022 ranged from a minimum of no short-term borrowings to a maximum of $ 173.1 million. Short-term borrowings outstanding during the year ended December 31, 2021 ranged from a minimum of no short-term borrowings to a maximum of $ 124.2 million. The average daily amount of borrowings outstanding under the Amended Credit Agreement during 2022 and 2021 amounted to approximately $ 65.7 million and $ 10.6 million at weighted-average interest rates of 1.98 % and 1.15 %, respectively. The weighted-average interest rate for amounts outstanding at December 31, 2022 was 5.39 %. At December 31, 2022, we had available unused committed lines of credit under the Amended Credit Agreement amounting to $ 718.1 million, compared to $ 625.4 million at December 31, 2021. Interest expense, net was $ 2.0 million, $ 1.0 million, and $ 3.6 million for the years ended December 31, 2022, 2021, and 2020, respectively. Private Placement Shelf Agreements We have an uncommitted, unsecured $ 100.0 million private placement shelf agreement (the "Prudential Shelf Agreement") with PGIM, Inc., which is expected to allow us to issue senior promissory notes to affiliates of PGIM, Inc. at fixed rate terms to be agreed upon at the time of any issuance during a three-year issuance period ending in August 2023. We also have an uncommitted, unsecured $ 150.0 million private placement shelf agreement (the "MetLife Shelf Agreement") with MetLife Investment Management, LLC (formerly known as MetLife Investment Advisors, LLC), and MetLife Investment Management Limited (collectively, “MetLife”) and each other MetLife affiliate that becomes a party to the agreement. The MetLife Shelf Agreement is expected to allow us to issue senior promissory notes to MetLife at fixed or floating rate economic terms to be agreed upon at the time of issuance during a three-year period ending in June 2024. We remain obligated under a most favored lender clause which is designed to ensure that any notes in the future under the Prudential Shelf Agreement and MetLife Shelf Agreement will continue to be of equal ranking with indebtedness under our Amended Credit Agreement. No notes have been issued under either the Prudential Shelf Agreement or the MetLife Shelf Agreement as of December 31, 2022 and 2021. Each shelf agreement contains representations and warranties of the Company and the applicable lender, events of default and affirmative and negative covenants, customary for agreements of this type. These covenants are substantially similar to those contained in the Amended Credit Agreement, subject to a number of exceptions and qualifications set forth in the applicable shelf agreement. All outstanding obligations of Graybar under one or both of these agreements may be declared immediately due and payable upon the occurrence of an event of default. We were in compliance with all covenants under the Prudential Shelf Agreement and the MetLife Shelf Agreement as of December 31, 2022 and 2021. Letters of Credit We had total letters of credit of $ 7.8 million outstanding at December 31, 2022, of which $ 1.9 million were issued under the Amended Credit Agreement. We had total letters of credit of $ 6.1 million outstanding at December 31, 2021, of which $ 0.4 million were issued under the Amended Credit Agreement. The letters of credit are issued primarily to support certain workers' compensation insurance policies and support performance under certain customer contracts.

Pension And Other Postretiremen

Pension And Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2022
Pension And Other Postretirement Benefits [Abstract]
Pension And Other Postretirement Benefits	13. PENSION AND OTHER POSTRETIREMENT BENEFITS We have a noncontributory defined benefit pension plan (the "Pension Plan") covering substantially all employees first hired prior to July 1, 2015 after the completion of one year of service and 1,000 hours of service . The Pension Plan provides retirement benefits based on an employee’s final average earnings and years of service. A supplemental benefit plan provides nonqualified pension benefits for compensation in excess of the IRS compensation limits applicable to the Pension Plan and eligible compensation deferred by a participant. Our funding policy is to make contributions to the Pension Plan, provided that the total annual contributions will not be less than ERISA and the Pension Protection Act of 2006 minimums or greater than the maximum tax-deductible amount, to review the contribution and funding strategy on a regular basis, and to allow discretionary contributions to be made by us from time to time. The assets of the Pension Plan are invested primarily in fixed income investments and equity securities. We pay nonqualified pension benefits when they are due according to the terms of the supplemental benefit plan. We provide certain postretirement healthcare and life insurance benefits to retired employees. Substantially all of our employees hired or rehired prior to 2014 may become eligible for postretirement medical benefits if they reach the age and service requirements of the retiree medical plan and retire on a pension (except a deferred pension) under the Pension Plan. Postretirement life insurance benefits are insured through an insurance company. We fund postretirement benefits as incurred, and accordingly, there were no assets held in the postretirement benefits plan at December 31, 2022 and 2021. The following table sets forth information regarding the funded status of our pension and other postretirement benefits as of December 31, 2022 and 2021: Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Change in Benefit Obligation: Benefit obligation at beginning of period $ 841.9 $ 921.8 $ 75.1 $ 80.9 Service cost 26.4 30.2 2.0 2.2 Interest cost 25.5 23.9 2.0 1.7 Actuarial gain ( 221.0 ) ( 11.6 ) ( 12.0 ) ( 5.0 ) Benefits paid from plan assets ( 0.4 ) ( 2.5 ) — — Benefits paid from Company assets ( 2.0 ) ( 1.6 ) ( 5.3 ) ( 5.6 ) Plan participants' contributions — — 0.5 0.9 Administrative expenses paid ( 1.5 ) ( 1.5 ) — — Settlements ( 91.0 ) ( 116.8 ) — — Benefit Obligation at End of Period 577.9 841.9 62.3 75.1 Change in Plan Assets: Fair value of plan assets at beginning of period 680.7 722.0 — — Actual return on plan assets ( 197.5 ) 39.5 — — Employer contributions (A) 44.8 41.6 4.8 4.7 Plan participants' contributions — — 0.5 0.9 Benefits paid (A) ( 2.4 ) ( 4.1 ) ( 5.3 ) ( 5.6 ) Administrative expenses paid ( 1.5 ) ( 1.5 ) — — Settlements ( 91.0 ) ( 116.8 ) — — Fair Value of Plan Assets at End of Period 433.1 680.7 — — Unfunded Status $ 144.8 $ 161.2 $ 62.3 $ 75.1 (A) Includes $ 2.0 million and $ 1.6 million paid from our assets for unfunded nonqualified pension benefits in fiscal years 2022 and 2021, respectively. The accumulated benefit obligation for our Pension Plan was $ 536.7 million and $ 774.7 million at December 31, 2022 and 2021, respectively. Amounts recognized in the consolidated balance sheet for the years ended December 31 consist of the following: Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Current accrued benefit cost $ 4.0 $ 2.1 $ 6.8 $ 6.6 Non-current accrued benefit cost 140.8 159.1 55.5 68.5 Net amount recognized $ 144.8 $ 161.2 $ 62.3 $ 75.1 Current accrued benefit cost for both pension benefits and postretirement benefits is included in other current liabilities in the consolidated balance sheets. Non-current accrued benefit cost for pension benefits and postretirement benefits are included in pension liability and postretirement benefits liability, respectively, in the consolidated balance sheets. Amounts recognized in accumulated other comprehensive loss for the years ended December 31, net of tax, consist of the following: Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Net actuarial loss $ 138.1 $ 166.1 $ — $ 9.3 Prior service cost — — 0.1 0.1 Accumulated other comprehensive loss $ 138.1 $ 166.1 $ 0.1 $ 9.4 The actuarial gain for the Pension Plan in 2022 was primarily related to increases in the discount rate and increases in the lump sum interest rate assumption compared to 2021. The actuarial gain for the Pension Plan in 2021 was primarily related to increases in the discount rate compared to 2020. Weighted-average assumptions used to determine the actuarial present value of the pension and postretirement benefit obligations as of December 31 are: Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Discount rate 5.55 % 2.86 % 5.70 % 2.71 % Rate of compensation increase 4.28 % 4.38 % — — Healthcare cost trend on covered charges — — 5.00 % 5.00 % The net periodic benefit cost for the years ended December 31, 2022, 2021, and 2020 included the following components: Pension Benefits Postretirement Benefits Components of Net Periodic Benefit Cost 2022 2021 2020 2022 2021 2020 Selling, general and administrative expenses: Service cost $ 26.4 $ 30.2 $ 29.2 $ 2.0 $ 2.2 $ 2.1 Total selling, general and administrative expenses $ 26.4 $ 30.2 $ 29.2 $ 2.0 $ 2.2 $ 2.1 Non-operating expenses: Interest cost 25.5 23.9 26.7 2.0 1.7 2.4 Expected return on plan assets ( 30.2 ) ( 30.6 ) ( 32.8 ) — — — Amortization of: Net actuarial loss 17.4 32.3 30.2 0.6 0.8 0.7 Settlement charge 27.0 30.4 27.7 — — — Total non-operating expenses $ 39.7 $ 56.0 $ 51.8 $ 2.6 $ 2.5 $ 3.1 Net periodic benefit cost $ 66.1 $ 86.2 $ 81.0 $ 4.6 $ 4.7 $ 5.2 During 2022 and 2020, we made lump-sum pension benefit distributions exceeding the cumulative amount of service and interest cost components of the net periodic pension cost for the year, which is the settlement accounting threshold. During 2021, we made lump-sum pension benefit distributions and purchased nonparticipating annuity contracts exceeding the settlement accounting threshold. Accordingly, we recorded a non-cash pension settlement charge of $ 27.0 million, $ 30.4 million, and $ 27.7 million in non-operating expenses on our consolidated statements of income for the year ended December 31, 2022, 2021 and 2020, respectively. These settlement charges represented the immediate recognition into expense of a portion of the unrecognized loss within accumulated other comprehensive loss in proportion to the share of the projected benefit obligation that was settled by the lump-sum pension benefit distributions and purchases of the nonparticipating annuity contracts. Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 were: Pension Benefits Postretirement Benefits 2022 2021 2020 2022 2021 2020 Discount rate 2.86 % / 4.83 % 2.62 % / 2.72 % 3.38 % / 2.72 % 2.71 % 2.22 % 3.19 % Expected return on plan assets 5.00 % 5.00 % 5.50 % — — — Rate of compensation increase 4.21 % 4.32 % 4.24 % — — — Healthcare cost trend on covered charges — — — 5.00 % 5.00 % 5.00 % A discount rate of 2.86 % was used as of January 1, 2022 to determine the net periodic benefit cost for the Pension Plan, which was increased to 4.83 % effective September 30, 2022 for the remeasurement of the plan liability upon triggering settlement accounting. A discount rate of 2.62 % was used as of January 1, 2021 to determine the net periodic benefit cost for the Pension Plan, which was increased to 2.72 % effective September 30, 2021 for the remeasurement of the plan liability upon triggering settlement accounting. A discount rate of 3.38 % was used as of January 1, 2020 to determine the net periodic benefit cost for the Pension Plan, which was lowered to 2.72 % effective September 30, 2020 for the remeasurement of the plan liability upon triggering settlement accounting. The expected return on plan assets assumption for the Pension Plan is a long-term assumption and was determined after evaluating input from both the plan’s actuary and pension fund investment advisors, consideration of macroeconomic conditions, historical rates of return on plan assets, and anticipated current and long-term rates of return on the various classes of assets in which the plan invests. For measurement of the postretirement benefits net periodic cost, a 5.00 % annual rate of increase in per capita cost of covered healthcare benefits was assumed for 2022. The rate was assumed to remain at 5.00 % in 2023 and to remain at that level thereafter. We expect to fund $ 3.9 million for nonqualified pension benefits during 2023. Pension contributions are expected to be $ 40.0 million in 2023; however, additional contributions may be made at our discretion. Estimated future defined benefit pension and other postretirement benefit plan payments to plan participants for the years ending December 31 are as follows: Year Pension Benefits Postretirement Benefits 2023 $ 47.1 $ 7.0 2024 43.5 7.3 2025 46.9 7.6 2026 49.6 7.6 2027 50.6 7.4 2028-2032 266.7 30.9 The investment objective of our Pension Plan is to ensure that there are sufficient assets to fund regular pension benefits payable to employees over the long-term life of the plan. Our Pension Plan seeks to allocate plan assets in a manner that is closely duration-matched with the actuarial projected cash flow liabilities, consistent with prudent standards for preservation of capital, tolerance of investment risk, and maintenance of liquidity. Assets of the qualified pension plan are held by Comerica Bank (the "Trustee"). Our Pension Plan utilizes a liability-driven investment (“LDI”) approach to help meet these objectives. The LDI strategy employs a structured fixed-income portfolio designed to reduce volatility in the plan's future funding requirements and funding status. This is accomplished by using a blend of long duration government, quasi-governmental and corporate fixed-income securities, as well as appropriate levels of equity and alternative investments designed to optimize the plan's liability hedge ratio. Derivatives may also be used on fixed-income investments to manage interest rate exposure, volatility, duration, credit exposures, and asset class allocation. Derivatives are not allowed if the position creates economic portfolio leverage beyond the portfolio’s investment objectives or if used for speculative purposes. In practice, the value of an asset portfolio constructed primarily of fixed income securities is inversely correlated to changes in market interest rates, primarily offsetting changes in the value of the pension benefit obligation caused by changes in the interest rate used to discount plan liabilities. Asset allocation information for the Pension Plan at December 31, 2022 and 2021 is as follows: Investment 2022 Actual Allocation 2022 Target Allocation Range 2021 Actual Allocation 2021 Target Allocation Range Equity securities - U.S. 7 % 3 - 10 % 6 % 3 - 10 % Equity securities - International 5 % 2 - 10 % 6 % 2 - 10 % Fixed income investments 46 % 40 - 80 % 55 % 40 - 80 % Hedge funds 6 % 2 - 8 % 6 % 2 - 8 % Real assets 5 % 2 - 10 % 5 % 2 - 10 % Private equity 8 % 2 - 8 % 5 % 2 - 8 % Other investments 4 % 0 - 8 % 5 % 0 - 8 % Short-term investments 19 % 1 - 10 % 12 % 1 - 10 % Total 100 % 100 % 100 % 100 % Actual asset allocation may occasionally fall outside of the target allocation range until rebalancing occurs. The following is a description of the valuation methodologies used for assets held by the Pension Plan measured at fair value: Equity securities - U.S. Equity securities - U.S. consist of investments in U.S. corporate stocks and U.S. equity mutual funds. U.S. equity mutual funds include publicly traded mutual funds and a bank collective fund for ERISA plans. U.S. corporate stocks and U.S. equity mutual funds are primarily large-capitalization stocks (defined as companies with market capitalization of more than $10 billion). U.S. corporate stocks and publicly traded mutual funds are valued at the closing price reported on the active public market in which the individual securities are traded and are classified as Level 1. The bank collective fund for ERISA plans is valued at the net asset value ("NAV") of units of the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. Equity securities – International Equity securities - International consist of investments in international corporate stocks, publicly traded mutual funds, and a collective investment trust, and are primarily investments within developed and emerging markets. Investments other than the collective investment trust are valued at the closing price reported on the active public market in which the individual securities are traded and are classified as Level 1. The collective investment trust is valued at the NAV of units of the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. Audited financial statements are produced on an annual basis for the collective investment trust. Fixed income investments Fixed income investments consist of U.S. and international corporate bonds, government and government agency bonds, derivatives, as well as a collective trust that invests in U.S. government debt securities. U.S. and international corporate bonds and government and government agency bonds are valued by independent pricing services using market-based cash flow generators and pricing spread models on both primary and secondary market transactions. As the significant inputs used are observable market inputs, these investments are classified as Level 2. Derivatives could include, but are not limited to, instruments such as U.S. Treasury futures, total returns swaps, and credit default swaps. Derivatives are valued by independent pricing services using direct and observable market inputs and are thus classified as Level 2. The collective trust is valued at the NAV of units of the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. Hedge funds Hedge funds consist of investments in various hedge funds structured as fund-of-funds (defined as a single fund that invests in multiple funds). The hedge funds use various investment strategies in an attempt to generate non-correlated returns. A fund-of-funds is designed to help diversify and reduce the risk of the overall portfolio. The hedge funds are valued at the NAV of units of the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. Audited financial statements are produced on an annual basis for the hedge funds. Real assets Real assets consist of a diversified mutual fund, and limited partnerships (“LP”) that invest in real estate. The diversified mutual fund is valued using quoted prices in an active market, and is therefore classified as Level 1. The LP investments are valued at the NAV of units of the trust. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. Audited financial statements are produced on an annual basis for the LP investments. Private equity Private equity is an asset class that is generally characterized as requiring long-term commitments and where liquidity is typically limited. Private equity investments do not have an actively traded market with readily observable prices. The investments are limited partnerships and are diversified across typical private equity strategies including: buyouts, co-investments, secondary offerings, venture capital, and special situations. Valuations are developed using a variety of proprietary model methodologies. Valuations may be derived from publicly available sources as well as information obtained from each fund's general partner based upon public market conditions and returns. All private equity investments are classified as Level 3, other than limited partnerships valued at the NAV of units of the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. Audited financial statements are produced on an annual basis for the private equity investments. Other investments Other investments consist of investments in a private debt fund and a high-yield bond fund. The private debt fund is valued using unobservable inputs with limited trading activity, and is therefore classified as Level 3. The high-yield bond fund is valued using the NAV based on the fair value of the underlying investments held by the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. Audited financial statements are produced on an annual basis for the private debt fund and the high-yield bond fund. Short-term investments Short-term investments includes cash and cash equivalents in a short-term fund which is valued at the NAV of units of the fund. The NAV, as provided by the Trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. The methods described above may produce fair value calculations that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our Pension Plan valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies for determining fair value at December 31, 2022 or 2021. The following tables set forth, by level within the fair value hierarchy, the Pension Plan assets measured at fair value as of December 31, 2022 and 2021: December 31, 2022 Investment Investments Measured at NAV Level 1 Level 2 Level 3 Total Equity securities - U.S. $ — $ 28.3 $ — $ — $ 28.3 Equity securities - International 9.1 13.4 — — 22.5 Fixed income investments 12.7 — 185.5 — 198.2 Hedge funds 27.4 — — — 27.4 Real assets 20.2 1.3 — — 21.5 Private equity 10.9 — — 23.6 34.5 Other investments 5.4 — — 11.4 16.8 Short-term investments 83.9 — — — 83.9 Total $ 169.6 $ 43.0 $ 185.5 $ 35.0 $ 433.1 December 31, 2021 Investment Investments Measured at NAV Level 1 Level 2 Level 3 Total Equity securities - U.S. $ 13.6 $ 27.3 $ — $ — $ 40.9 Equity securities - International 13.9 28.4 — — 42.3 Fixed income investments 96.1 — 279.7 — 375.8 Hedge funds 41.8 — — — 41.8 Real assets 16.4 20.3 — — 36.7 Private equity 8.2 — — 21.7 29.9 Other investments 20.1 — — 11.4 31.5 Short-term investments 81.8 — — — 81.8 Total $ 291.9 $ 76.0 $ 279.7 $ 33.1 $ 680.7 The tables below set forth a summary of changes in the fair value of the Pension Plan's Level 3 assets for the years ended December 31, 2022 and 2021: December 31, 2022 Private Equity Other Investments Total Balance, beginning of year $ 21.7 $ 11.4 $ 33.1 Realized gains 0.8 0.2 1.0 Unrealized gains 2.3 0.7 3.0 Purchases 0.3 — 0.3 Sales ( 1.5 ) ( 0.9 ) ( 2.4 ) Balance, end of year $ 23.6 $ 11.4 $ 35.0 December 31, 2021 Private Equity Other Investments Total Balance, beginning of year $ 13.8 $ 11.4 $ 25.2 Realized gains 0.8 0.2 1.0 Unrealized gains 9.2 1.1 10.3 Purchases 0.1 — 0.1 Sales ( 2.2 ) ( 1.3 ) ( 3.5 ) Balance, end of year $ 21.7 $ 11.4 $ 33.1

Profit Sharing And Savings Plan

Profit Sharing And Savings Plan	12 Months Ended
	Dec. 31, 2022
Profit Sharing And Savings Plan [Abstract]
Profit Sharing And Savings Plan	14. PROFIT SHARING AND SAVINGS PLAN We provide a defined contribution profit sharing and savings plan (the "Plan") covering substantially all of our eligible employees with an individual account for each participant. Employees may make voluntary before-tax and/or after-tax contributions to the saving portion of the Plan, ranging from 2 % to 50 % of pay, subject to limitations imposed by federal tax law, ERISA, and the Pension Protection Act of 2006. Substantially all employees hired or rehired after July 1, 2015 are eligible to receive a Company matching contribution beginning the first month after the completion of one year of service and 1,000 hours of service . During 2020, eligible employees receive Company matching contributions beginning the first month after the completion of six months of service and 500 hours of service . Effective January 1, 2021, eligible employees receive Company matching contributions beginning the first pay period after the completion of six months of service and 500 hours of service . The Company match is equal to 50 % of an eligible employee's before-tax or Roth payroll contribution, up to 6 % of pay per payroll period, with a maximum match per payroll period of 3 %. The matching contribution expense recognized by us was $ 5.9 million, $ 4.5 million, and $ 3.8 million for the years ended December 31, 2022, 2021 and 2020, respectively. Annual contributions made by us to the profit-sharing portion of the Plan are determined by the Board of Directors at its discretion, and are generally based on the profitability of the Company. Expense recognized by us under the profit-sharing portion of the Plan was $ 78.7 million, $ 71.3 million, and $ 46.8 million for the years ended December 31, 2022, 2021, and 2020, respectively.

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments And Contingencies [Abstract]
Commitments And Contingencies	15. COMMITMENTS AND CONTINGENCIES Rental expense was $ 52.2 million, $ 42.9 million, and $ 40.3 million in 2022, 2021, and 2020, respectively. For future minimum rental payments required under operating leases that have either initial or remaining noncancelable lease terms in excess of one year as of December 31, 2022, refer to Note 7, “Leases”. We are subject to various claims, disputes, and administrative and legal matters incidental to our past and current business activities. As a result, contingencies can arise resulting from an existing condition, situation, or set of circumstances involving an uncertainty as to the realization of a possible loss. We have in place insurance coverage for litigation defense and claim settlement costs incurred in connection with our asbestos claims. We estimate the value of probable insurance recoveries associated with our asbestos reserve based on management’s interpretations and estimates surrounding the available or applicable insurance coverage. We estimate the future payments for litigation defense and claim settlement costs based on our historical liabilities and current and projected caseloads. At December 31, 2022, Graybar had $ 2.5 million and $ 41.5 million of insurance receivables recorded in other current assets and other non-current assets, respectively, and $ 2.5 million and $ 41.5 million recorded in other current liabilities and other non-current liabilities, respectively, related to our asbestos litigation defense and claims settlement reserve. Estimated loss contingencies are accrued only if the loss is probable and the amount of the loss can be reasonably estimated. With respect to a particular loss contingency, it may be probable that a loss has occurred but the estimate of the loss is a wide range. If we deem an amount within the range to be a better estimate than any other amount within the range, that amount will be accrued. However, if no amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued. While we believe that none of these claims, disputes or administrative and legal matters will have a material adverse effect on our financial position, these matters are uncertain and we cannot at this time determine whether the financial impact, if any, of these matters will be material to our results of operations in the period in which such matters are resolved or a better estimate becomes available.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	16. ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive loss as of December 31 are as follows: 2022 2021 Currency translation $ ( 14.6 ) $ ( 5.0 ) Pension liability ( 138.1 ) ( 166.1 ) Postretirement benefits liability ( 0.1 ) ( 9.4 ) Accumulated other comprehensive loss $ ( 152.8 ) $ ( 180.5 ) The following table represents the total amounts of actuarial losses recognized that were reclassified from accumulated other comprehensive loss for the years ended December 31, 2022 and 2021: 2022 2021 Amortization of Pension and Other Postretirement Benefits Items Amortization of Pension and Other Postretirement Benefits Items Actuarial Losses Recognized Actuarial Losses Recognized Affected Line in Consolidated Statement of Income: Non-operating expenses (A) $ 45.0 $ 63.5 Tax benefit ( 11.6 ) ( 16.3 ) Total reclassifications for the period, net of tax $ 33.4 $ 47.2 (A) Includes a pension settlement charge of $ 27.0 million and $ 30.4 million in 2022 and 2021, respectively. The following table represents the activity included in accumulated other comprehensive loss for the years ended December 31, 2022 and 2021: 2022 2021 Foreign Currency Pension and Other Postretirement Benefits Total Foreign Currency Pension and Other Postretirement Benefits Total Beginning balance January 1, $ ( 5.0 ) $ ( 175.5 ) $ ( 180.5 ) $ ( 5.1 ) $ ( 241.6 ) $ ( 246.7 ) Other comprehensive (loss) income before reclassifications ( 9.6 ) — ( 9.6 ) 0.1 — 0.1 Amounts reclassified from accumulated other comprehensive loss (net of tax $( 11.6 ) and $( 16.3 )) — 33.4 33.4 — 47.2 47.2 Actuarial gain, (net of tax $( 1.4 ) and $( 6.6 )) — 3.9 3.9 — 18.9 18.9 Net current-period other comprehensive (loss) income ( 9.6 ) 37.3 27.7 0.1 66.1 66.2 Ending balance December 31, $ ( 14.6 ) $ ( 138.2 ) $ ( 152.8 ) $ ( 5.0 ) $ ( 175.5 ) $ ( 180.5 )

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Acquisitions [Abstract]
Acquisitions	17. ACQUISITIONS In 2022, we completed acquisitions for a combined preliminary purchase price of $ 83.7 million in cash, net of cash acquired. The preliminary purchase price allocation resulted in $ 12.5 million and $ 28.1 million of tax-deductible goodwill and other intangible assets, respectively, and $ 12.6 million and $ 5.3 million of nondeductible goodwill and other intangible assets, respectively. In 2021, we completed acquisitions for a combined final purchase price of $ 89.7 million in cash, net of cash acquired. The final purchase price allocation resulted in $ 20.9 million and $ 32.1 million of tax-deductible goodwill and other intangible assets, respectively. In 2020, we completed an acquisition for a final purchase price of $ 27.7 million in cash, net of cash acquired. The final purchase price allocation resulted in $ 7.6 million and $ 18.1 million of tax-deductible goodwill and other intangible assets, respectively. These acquisitions will help Graybar accelerate growth, diversify our business, extend our reach, and enhance our profitability. Since the dates of acquisition, the acquired subsidiaries’ results are reflected in our consolidated financial statements. Pro forma results of the acquisitions were not material; therefore, they are not presented.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information (Unaudited) [Abstract]
Quarterly Financial Information (Unaudited)	18. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following tables set forth selected quarterly financial data for the years ended December 31, 2022 and 2021: 2022 For the Quarter Ended March 31, June 30, September 30, December 31, Net sales $ 2,381.8 $ 2,672.6 $ 2,789.7 $ 2,690.3 Gross margin 479.3 539.8 574.2 553.8 Net income attributable to the Company 102.2 127.6 126.1 97.0 Net income attributable to the Company per share of common stock (A) $ 3.84 $ 4.80 $ 4.75 $ 3.66 (A) All periods adjusted for a 15 % stock dividend declared in December 2022. Prior to these adjustments, the average common shares outstanding for the first, second, third, and fourth quarters of 2022 were 23,113,523 shares, 23,101,970 shares, 23,091,318 shares, and 23,075,526 shares, respectively. 2021 For the Quarter Ended March 31, June 30, September 30, December 31, Net sales $ 1,900.5 $ 2,232.4 $ 2,313.4 $ 2,321.0 Gross margin 360.9 422.8 436.4 469.1 Net income attributable to the Company 47.2 80.1 74.3 60.8 Net income attributable to the Company per share of common stock (A) $ 1.80 $ 3.05 $ 2.84 $ 2.32 (A) All periods adjusted for a 15 % stock dividend declared in December 2022. Prior to these adjustments, the average common shares outstanding for the first, second, third, and fourth quarters of 2021 were 22,829,894 shares, 22,819,914 shares, 22,768,745 shares, and 22,784,473 shares, respectively.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2022
Summary Of Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Graybar and our subsidiary companies. All material intercompany balances and transactions have been eliminated. The ownership interests that are held by owners other than the Company are in subsidiaries owned by the Company and are accounted for and reported as noncontrolling interests.
Estimates	Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.
Revenue Recognition	Revenue Recognition Sales revenue is recognized when performance obligations are satisfied, which is typically upon delivery of the product to the customer. Sometimes product is purchased from the manufacturer and drop-shipped to the customer. We generally take control of the goods when shipped by the manufacturer and then recognize revenue when control of the product transfers to the customer. Revenues recognized are primarily for product sales, but may also include freight and handling charges. Our standard warehouse shipping terms are FOB shipping point, under which control passes to the customer at the time of shipment. Revenue is reported net of all taxes, primarily sales tax, assessed by governmental authorities as a result of revenue-producing transactions.
Outgoing Freight Expenses	Outgoing Freight Expenses We record approximately 95 % of outgoing freight expenses as a component of selling, general and administrative expenses. Total outgoing freight expenses were $ 101.0 million, $ 78.9 million, and $ 68.8 million for the years ended December 31, 2022, 2021, and 2020, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents We account for cash on hand, deposits in banks, and other short-term, highly liquid investments with an original maturity of three months or less as cash and cash equivalents.
Allowance for Credit Losses	Allowance for Credit Losses We perform ongoing credit evaluations of our customers, and a significant portion of our trade receivables is secured by mechanic’s lien or payment bond rights. We maintain allowances to reflect the expected uncollectability of trade receivables based on past collection history pooled on the aging of the receivables, specific risks identified in the receivables portfolio based on current conditions, and expected future economic conditions when necessary. Although actual credit losses have historically been within management’s expectations, additional allowances may be required if the financial condition of our customers were to deteriorate.
Merchandise Inventory	Merchandise Inventory Our inventory, comprised entirely of finished goods, is stated at the lower of cost (generally determined using the last-in, first-out (“LIFO”) cost method) or market. LIFO accounting is a method of accounting that, compared with other inventory accounting methods, generally provides better matching of current costs with current sales. We make provisions for obsolete or excess inventories as necessary to reflect reductions in inventory value.
Vendor Allowances	Vendor Allowances Our agreements with many of our suppliers provide for us to earn volume incentives based on purchases during the agreement period. Based on the provisions of our vendor agreements, we develop vendor accrual rates by estimating our performance under the agreements and the amounts that will be earned. We perform analyses and review historical trends to ensure the deferred amounts earned are appropriately recorded. Certain vendor agreements contain purchase volume incentives that provide for increased funding when graduated purchase volumes are met. Amounts accrued throughout the year are based on estimates of future activity levels, and could be materially impacted if actual purchase volumes differ. Changes in the estimated amount of incentives are treated as changes in estimate and are recognized in income from operations in the period in which the change in estimate occurs. In the event that the operating performance of our suppliers were to decline, however, there can be no assurance that amounts earned would be paid or that the volume incentives would continue to be included in future agreements.
Property and Depreciation	Property and Depreciation Property is recorded at cost. Depreciation is expensed on a straight-line basis over the estimated useful lives of the related assets. Interest costs incurred to finance expenditures for major long-term construction projects are capitalized as part of the asset's historical cost and included in property, then depreciated over the useful life of the asset. Leasehold improvements are amortized over the term of the lease or the estimated useful life of the improvement, whichever is shorter. Expenditures for maintenance and repairs are charged to expense when incurred, while the costs of significant improvements, which extend the useful life of the underlying asset, are capitalized.
Fair Value	Fair Value GAAP has established a fair value hierarchy, which prioritizes the inputs used in measuring fair value. The tiers in the hierarchy include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own data inputs and assumptions. We have used fair value measurements to value our pension plan assets.
Foreign Currency Exchange Rate	Foreign Currency Exchange Rate The functional currency for our Canadian subsidiary is the Canadian dollar. Accordingly, its balance sheet amounts are translated at the exchange rates in effect at the end of each reporting period and its statements of income amounts are translated at the average rates of exchange prevailing during the current period. Currency translation adjustments are included in accumulated other comprehensive loss.
Goodwill	Goodwill Our goodwill is not amortized, but rather tested annually for impairment. Goodwill is reviewed annually in the fourth quarter and when circumstances or other events might indicate that impairment may have occurred. We first perform a qualitative assessment of goodwill impairment. The qualitative assessment considers several factors including the excess fair value over carrying value as of the last quantitative impairment test, the length of time since the last fair value measurement, the current carrying value, market conditions, actual performance compared to forecasted performance, and the current business outlook. If the qualitative assessment indicates that it is more likely than not that goodwill is impaired, the reporting unit would then be quantitatively tested for impairment. If a quantitative assessment would be required, the fair value would be determined using a variety of assumptions including estimated future cash flows of the reporting unit and applicable discount rates.
Definite Lived Intangible Assets	Definite Lived Intangible Assets The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed on a straight-line basis over the estimated periods benefited. Customer relationships, trade names and other non-contractual intangible assets with determinable lives are amortized over periods generally ranging from 1.5 to 20 years. Intangible assets are tested for impairment if events or circumstances occur indicating that the respective asset might be impaired.
Income Taxes	Income Taxes We recognize deferred tax assets and liabilities to reflect the future tax consequences of events that have been recognized in the financial statements or tax returns. A deferred tax asset or liability results from the temporary difference between an item’s carrying value as reflected in the financial statements and its tax basis, and is calculated using enacted applicable tax rates. We assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe that recovery is not likely, a valuation allowance is established. Changes in the valuation allowance, when recorded, are included in the provision for income taxes in the consolidated financial statements. We classify interest expense and penalties as part of our provision for income taxes based upon applicable federal and state interest/underpayment percentages. We assess uncertainty regarding tax positions taken in previously filed returns and record reserves in accordance with the guidance under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC") 740-10, "Accounting for Uncertainty in Income Taxes".
Other Postretirement Benefits	Other Postretirement Benefits We account for postretirement benefits other than pensions by accruing the costs of benefits to be provided over the eligible employees’ periods of active service. These costs are determined on an actuarial basis. Our consolidated balance sheets reflect the funded status of postretirement benefits.
Pension Plan	Pension Plan We sponsor a noncontributory defined benefit pension plan accounted for by accruing the cost to provide the benefits over the eligible employees’ periods of active service. These costs are determined on an actuarial basis. Our consolidated balance sheets reflect the funded status of the defined benefit pension plan.
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and non-current operating lease liabilities on our consolidated balance sheets. Amounts related to finance leases are included in property , current portion of long-term debt , and long-term debt on our consolidated balance sheets. ROU assets and lease liabilities are recognized and measured on the date the underlying asset is made available to us. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. We use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For certain leases, such as real estate and information technology (“IT”) equipment, we account for the lease and non-lease components as a single lease component. For all other leases, we account for the lease and non-lease components separately. Leases with a term of twelve months or less are not recorded on the consolidated balance sheets. Lease expenses associated with short-term leases are immaterial and are recorded in the consolidated statements of income in selling, general and administrative expenses. Additionally, for certain vehicle leases, we apply a portfolio approach to account for the operating lease ROU assets and liabilities.
Non-operating Expenses	Non-operating Expenses Non-operating expenses are comprised of interest expense, net and non-service cost components of the net periodic benefit cost for the pension and other postretirement benefit plans. The non-service cost components include interest cost, expected return on plan assets, amortization of net actuarial gains/losses, amortization of prior service costs/gains, and charges due to settlement of certain plan liabilities.
New Accounting Standards	New Accounting Standards In September 2022, the FASB issued Accounting Standard Update (“ASU “ or “Update”) 2022-04, “Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires entities to disclose the key terms of supplier finance programs used in connection with the purchase of goods and services along with information about their obligations under these programs, including a rollforward of those obligations. This Update does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The Update is effective for all entities for fiscal years beginning after December 15, 2022 and interim periods within those fiscal years, except for the rollforward requirement, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, and guidance shall be applied retrospectively, other than the rollforward requirement, which shall be applied prospectively. While we do not have a supplier finance program currently in place, we are considering introducing a supplier finance program in 2023 and, therefore, are simultaneously evaluating the potential impact of adopting the Update on our consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848” which provides final guidance that defers the sunset date for applying the reference rate reform relief in ASC 848 to December 31, 2024, from December 31, 2022. The guidance is effective upon issuance. Although we have the option under our Amended Credit Agreement, as defined in Note 12, “Debt”, to continue to use LIBOR until June 30, 2023, we expect to transition to the Secured Overnight Financing Rate (“SOFR”) as our reference rate upon positive consent by all lenders in our Amended Credit Agreement prior to June 30, 2023. The adoption of this Update did not have a material impact on our consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue [Abstract]
Disaggregation of Revenue	For the Years Ended December 31, 2022 2021 2020 Construction 56.8 % 58.5 % 58.2 % CIG 25.8 25.5 26.7 Industrial & Utility 17.4 16.0 15.1 Total net sales 100.0 % 100.0 % 100.0 %

Allowances For Cash Discounts_2

Allowances For Cash Discounts And Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2022
Allowances For Cash Discounts And Credit Losses [Abstract]
Schedule of Cash Discounts and Doubtful Accounts	Beginning Balance Provision (Charged to Expense) Deductions Ending Balance For the Year Ended December 31, 2022 Allowance for cash discounts $ 3.8 $ 47.4 $ ( 47.6 ) $ 3.6 Allowance for credit losses 5.3 8.9 ( 4.4 ) 9.8 Total $ 9.1 $ 56.3 $ ( 52.0 ) $ 13.4 For the Year Ended December 31, 2021 Allowance for cash discounts $ 2.9 $ 44.3 $ ( 43.4 ) $ 3.8 Allowance for credit losses 4.0 1.9 ( 0.6 ) 5.3 Total $ 6.9 $ 46.2 $ ( 44.0 ) $ 9.1 For the Year Ended December 31, 2020 Allowance for cash discounts $ 2.2 $ 35.1 $ ( 34.4 ) $ 2.9 Allowance for credit losses 4.0 2.6 ( 2.6 ) 4.0 Total $ 6.2 $ 37.7 $ ( 37.0 ) $ 6.9

Property And Depreciation (Tabl

Property And Depreciation (Tables)	12 Months Ended
	Dec. 31, 2022
Property And Depreciation [Abstract]
Schedule Of Property And Depreciation	Classification Estimated Useful Asset Life Buildings 42 years Leasehold improvements Over the shorter of the asset’s life or the lease term Furniture, fixtures, equipment and software 3 to 14 years Assets held under finance leases Over the shorter of the asset’s life or the lease term

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule Of Lease Expense	For the Years Ended December 31, 2022 2021 2020 Operating lease cost $ 43.8 $ 38.4 $ 37.9 Finance lease cost: Amortization of right-of-use assets 1.9 2.0 2.1 Interest on lease liabilities 0.4 0.5 0.6 Total finance lease cost 2.3 2.5 2.7 Variable lease cost 12.4 10.5 10.6 Total lease cost $ 58.5 $ 51.4 $ 51.2
Schedule Of Supplemental Balance Sheet Information	December 31, 2022 2021 Operating leases: Operating lease right-of-use assets $ 175.3 $ 133.1 Current operating lease liabilities $ 43.9 $ 34.0 Non-current operating lease liabilities 147.1 107.5 Total operating lease liabilities $ 191.0 $ 141.5 Finance leases: Property, at cost $ 12.8 $ 14.0 Accumulated depreciation and amortization ( 8.6 ) ( 9.2 ) Net property $ 4.2 $ 4.8 Current obligations of finance leases $ 1.6 $ 1.9 Finance leases, net of current obligations 3.9 4.2 Total finance lease liabilities $ 5.5 $ 6.1 Weighted average remaining lease term: Operating leases 5.5 years 5.0 years Finance leases 3.6 years 4.0 years Weighted average discount rate: Operating leases 3.2 % 2.5 % Finance leases 7.3 % 7.8 %
Schedule Of Supplemental Cash Flow And Other Information	Supplemental cash flow and other information for the years ended December 31, 2022, 2021, and 2020 related to leases was as follows: For the Years Ended December 31, 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 42.6 $ 39.0 $ 37.3 Operating cash flows from finance leases 0.4 0.5 0.6 Financing cash flows from finance leases 2.1 2.3 2.2 Right-of-use assets obtained in exchange for lease liabilities: Operating leases (A) $ 82.1 $ 54.7 $ 35.3 Finance leases 1.5 0.4 0.3 (A) Includes $ 2.9 million, $ 15.8 million, and $ 1.6 million of operating leases established as a result of our acquisitions during 2022, 2021 and 2020, respectively. See Note 17, “Acquisitions”, for further information.
Schedule Of Maturity Of Lease Liabilities	December 31, 2022 Operating Leases Finance Leases Future minimum lease payments 2023 $ 49.2 $ 2.0 2024 44.4 1.8 2025 32.9 1.4 2026 26.5 0.5 2027 20.2 0.3 Thereafter 36.2 0.3 Total future minimum lease payments $ 209.4 $ 6.3 Less: imputed interest ( 18.4 ) ( 0.8 ) Total lease obligation $ 191.0 $ 5.5 Less: current obligations ( 43.9 ) ( 1.6 ) Long-term lease obligation $ 147.1 $ 3.9

Goodwill And Other Intangible_2

Goodwill And Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill And Other Intangible Assets [Abstract]
Schedule of Goodwill	2022 2021 Beginning balance $ 57.1 $ 37.1 Acquisitions and purchase accounting adjustments 26.5 20.0 Foreign currency translation impact ( 0.5 ) — Ending balance $ 83.1 $ 57.1
Schedule of Finite-Lived Intangible Assets	As of December 31, 2022 Asset Life Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 6 to 20 years 12.9 years $ 78.4 $ ( 16.4 ) $ 62.0 Trade name 5 to 20 years 18.9 years 33.2 ( 5.9 ) 27.3 Non-compete agreements 3 to 7 years 5.3 years 1.3 ( 0.5 ) 0.8 Other intangible assets 1.5 to 10 years 2.7 years 1.4 ( 0.2 ) 1.2 Total 14.4 years $ 114.3 $ ( 23.0 ) $ 91.3 As of December 31, 2021 Asset Life Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 6 to 20 years 13.4 years $ 57.4 $ ( 11.6 ) $ 45.8 Trade name 5 to 20 years 18.9 years 23.2 ( 4.6 ) 18.6 Non-compete agreements 3 to 7 years 5.5 years 0.9 ( 0.4 ) 0.5 Other intangible assets 10 years 10 years 0.1 ( 0.1 ) — Total 14.9 years $ 81.6 $ ( 16.7 ) $ 64.9
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	2023 $ 9.3 2024 9.0 2025 8.4 2026 7.0 2027 6.8 After 2027 50.8 $ 91.3

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Schedule Of Income Before Income Tax, Domestic And Foreign	For the Years Ended December 31, Components of Income before Taxes 2022 2021 2020 Domestic $ 573.6 $ 327.6 $ 151.1 Foreign 35.9 23.3 15.2 Income before taxes $ 609.5 $ 350.9 $ 166.3
Schedule Of Components Of Income Tax Expense Benefit	For the Years Ended December 31, Components of Income Tax Provision 2022 2021 2020 Current expense: U.S. Federal $ 119.5 $ 77.3 $ 38.5 State 28.8 18.2 11.4 Foreign 10.5 6.5 4.5 Total current expense $ 158.8 $ 102.0 $ 54.4 Deferred benefit: U.S. Federal $ ( 2.1 ) $ ( 10.9 ) $ ( 7.8 ) State ( 0.6 ) ( 3.2 ) ( 2.3 ) Foreign ( 0.3 ) — ( 0.1 ) Total deferred benefit $ ( 3.0 ) $ ( 14.1 ) $ ( 10.2 ) Total income tax provision $ 155.8 $ 87.9 $ 44.2
Schedule Of Effective Income Tax Rate Reconciliation	For the Years Ended December 31, 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal benefit 3.7 3.3 4.3 Other, net 0.9 0.7 1.3 Effective tax rate 25.6 % 25.0 % 26.6 %
Schedule Of Deferred Tax Assets And Liabilities	Assets (Liabilities) 2022 2021 Pension $ 28.9 $ 32.8 Operating lease liabilities 47.2 34.4 Postretirement benefits 16.0 19.3 Inventory 20.1 25.0 Other deferred tax assets 19.6 5.8 Payroll accruals 5.4 7.2 Bad debt reserves 2.2 0.7 Subtotal 139.4 125.2 Less: valuation allowances ( 0.8 ) ( 0.5 ) Deferred tax assets 138.6 124.7 Fixed assets ( 41.4 ) ( 38.8 ) Operating lease right-of-use assets ( 43.2 ) ( 32.3 ) Other deferred tax liabilities ( 22.3 ) ( 9.1 ) Computer software ( 0.8 ) ( 2.4 ) Deferred tax liabilities ( 107.7 ) ( 82.6 ) Net deferred tax assets $ 30.9 $ 42.1 Deferred income taxes included in non-current assets (liabilities) at December 31 were: 2022 2021 Deferred tax assets included in other non-current assets $ 33.6 $ 45.2 Deferred tax liabilities included in other non-current liabilities ( 2.7 ) ( 3.1 ) Total $ 30.9 $ 42.1
Summary Of Operating Loss Carryforwards	Operating loss and tax credit carryforwards included in net deferred tax assets, all of which expire between 2025 and 2032, at December 31 were: 2022 2021 U.S. Federal $ 0.8 $ 0.5 State 0.2 0.2
Schedule Of Unrecognized Tax Benefits Roll Forward	2022 2021 2020 Balance at January 1, $ 1.0 $ 1.7 $ 1.9 Additions based on tax positions related to current year — — 0.2 Reductions for tax positions of prior years ( 0.5 ) ( 0.7 ) ( 0.1 ) Settlements — — ( 0.3 ) Balance at December 31, $ 0.5 $ 1.0 $ 1.7

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Dec. 31, 2022
Capital Stock [Abstract]
Schedule of Common Stock Shares Purchased and Retired	Shares of Common Stock Purchased Retired 2022 735,641 725,186 2021 794,227 798,166 2020 824,685 830,338

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt [Abstract]
Schedule Of Long-term Debt	December 31, Long-term Debt 2022 2021 Finance arrangements, various maturities, with a weighted average interest rate of 7.3 % $ 5.5 $ 6.1 Less current portion ( 1.6 ) ( 1.9 ) Long-term Debt $ 3.9 $ 4.2
Schedule Of Long-term Debt Maturities	Long-term Debt matures as follows: 2023 $ 1.6 2024 1.6 2025 1.2 2026 0.5 2027 0.3 After 2027 0.3 $ 5.5

Pension And Other Postretirem_2

Pension And Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2022
Pension And Other Postretirement Benefits [Abstract]
Schedule Of Net Funded Status	Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Change in Benefit Obligation: Benefit obligation at beginning of period $ 841.9 $ 921.8 $ 75.1 $ 80.9 Service cost 26.4 30.2 2.0 2.2 Interest cost 25.5 23.9 2.0 1.7 Actuarial gain ( 221.0 ) ( 11.6 ) ( 12.0 ) ( 5.0 ) Benefits paid from plan assets ( 0.4 ) ( 2.5 ) — — Benefits paid from Company assets ( 2.0 ) ( 1.6 ) ( 5.3 ) ( 5.6 ) Plan participants' contributions — — 0.5 0.9 Administrative expenses paid ( 1.5 ) ( 1.5 ) — — Settlements ( 91.0 ) ( 116.8 ) — — Benefit Obligation at End of Period 577.9 841.9 62.3 75.1 Change in Plan Assets: Fair value of plan assets at beginning of period 680.7 722.0 — — Actual return on plan assets ( 197.5 ) 39.5 — — Employer contributions (A) 44.8 41.6 4.8 4.7 Plan participants' contributions — — 0.5 0.9 Benefits paid (A) ( 2.4 ) ( 4.1 ) ( 5.3 ) ( 5.6 ) Administrative expenses paid ( 1.5 ) ( 1.5 ) — — Settlements ( 91.0 ) ( 116.8 ) — — Fair Value of Plan Assets at End of Period 433.1 680.7 — — Unfunded Status $ 144.8 $ 161.2 $ 62.3 $ 75.1 (A) Includes $ 2.0 million and $ 1.6 million paid from our assets for unfunded nonqualified pension benefits in fiscal years 2022 and 2021, respectively.
Schedule Of Amounts Recognized In Balance Sheet	Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Current accrued benefit cost $ 4.0 $ 2.1 $ 6.8 $ 6.6 Non-current accrued benefit cost 140.8 159.1 55.5 68.5 Net amount recognized $ 144.8 $ 161.2 $ 62.3 $ 75.1
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income (Loss)	Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Net actuarial loss $ 138.1 $ 166.1 $ — $ 9.3 Prior service cost — — 0.1 0.1 Accumulated other comprehensive loss $ 138.1 $ 166.1 $ 0.1 $ 9.4
Schedule Of Assumptions Used	Pension Benefits Postretirement Benefits 2022 2021 2022 2021 Discount rate 5.55 % 2.86 % 5.70 % 2.71 % Rate of compensation increase 4.28 % 4.38 % — — Healthcare cost trend on covered charges — — 5.00 % 5.00 %
Schedule Of Net Periodic Benefit Costs	The net periodic benefit cost for the years ended December 31, 2022, 2021, and 2020 included the following components: Pension Benefits Postretirement Benefits Components of Net Periodic Benefit Cost 2022 2021 2020 2022 2021 2020 Selling, general and administrative expenses: Service cost $ 26.4 $ 30.2 $ 29.2 $ 2.0 $ 2.2 $ 2.1 Total selling, general and administrative expenses $ 26.4 $ 30.2 $ 29.2 $ 2.0 $ 2.2 $ 2.1 Non-operating expenses: Interest cost 25.5 23.9 26.7 2.0 1.7 2.4 Expected return on plan assets ( 30.2 ) ( 30.6 ) ( 32.8 ) — — — Amortization of: Net actuarial loss 17.4 32.3 30.2 0.6 0.8 0.7 Settlement charge 27.0 30.4 27.7 — — — Total non-operating expenses $ 39.7 $ 56.0 $ 51.8 $ 2.6 $ 2.5 $ 3.1 Net periodic benefit cost $ 66.1 $ 86.2 $ 81.0 $ 4.6 $ 4.7 $ 5.2 During 2022 and 2020, we made lump-sum pension benefit distributions exceeding the cumulative amount of service and interest cost components of the net periodic pension cost for the year, which is the settlement accounting threshold. During 2021, we made lump-sum pension benefit distributions and purchased nonparticipating annuity contracts exceeding the settlement accounting threshold. Accordingly, we recorded a non-cash pension settlement charge of $ 27.0 million, $ 30.4 million, and $ 27.7 million in non-operating expenses on our consolidated statements of income for the year ended December 31, 2022, 2021 and 2020, respectively. These settlement charges represented the immediate recognition into expense of a portion of the unrecognized loss within accumulated other comprehensive loss in proportion to the share of the projected benefit obligation that was settled by the lump-sum pension benefit distributions and purchases of the nonparticipating annuity contracts. Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 were: Pension Benefits Postretirement Benefits 2022 2021 2020 2022 2021 2020 Discount rate 2.86 % / 4.83 % 2.62 % / 2.72 % 3.38 % / 2.72 % 2.71 % 2.22 % 3.19 % Expected return on plan assets 5.00 % 5.00 % 5.50 % — — — Rate of compensation increase 4.21 % 4.32 % 4.24 % — — — Healthcare cost trend on covered charges — — — 5.00 % 5.00 % 5.00 %
Schedule Of Expected Benefit Payments	Year Pension Benefits Postretirement Benefits 2023 $ 47.1 $ 7.0 2024 43.5 7.3 2025 46.9 7.6 2026 49.6 7.6 2027 50.6 7.4 2028-2032 266.7 30.9
Schedule Of Allocation Of Plan Assets	Investment 2022 Actual Allocation 2022 Target Allocation Range 2021 Actual Allocation 2021 Target Allocation Range Equity securities - U.S. 7 % 3 - 10 % 6 % 3 - 10 % Equity securities - International 5 % 2 - 10 % 6 % 2 - 10 % Fixed income investments 46 % 40 - 80 % 55 % 40 - 80 % Hedge funds 6 % 2 - 8 % 6 % 2 - 8 % Real assets 5 % 2 - 10 % 5 % 2 - 10 % Private equity 8 % 2 - 8 % 5 % 2 - 8 % Other investments 4 % 0 - 8 % 5 % 0 - 8 % Short-term investments 19 % 1 - 10 % 12 % 1 - 10 % Total 100 % 100 % 100 % 100 %
Schedule Of Changes In Fair Value Of Plan Assets	The following tables set forth, by level within the fair value hierarchy, the Pension Plan assets measured at fair value as of December 31, 2022 and 2021: December 31, 2022 Investment Investments Measured at NAV Level 1 Level 2 Level 3 Total Equity securities - U.S. $ — $ 28.3 $ — $ — $ 28.3 Equity securities - International 9.1 13.4 — — 22.5 Fixed income investments 12.7 — 185.5 — 198.2 Hedge funds 27.4 — — — 27.4 Real assets 20.2 1.3 — — 21.5 Private equity 10.9 — — 23.6 34.5 Other investments 5.4 — — 11.4 16.8 Short-term investments 83.9 — — — 83.9 Total $ 169.6 $ 43.0 $ 185.5 $ 35.0 $ 433.1 December 31, 2021 Investment Investments Measured at NAV Level 1 Level 2 Level 3 Total Equity securities - U.S. $ 13.6 $ 27.3 $ — $ — $ 40.9 Equity securities - International 13.9 28.4 — — 42.3 Fixed income investments 96.1 — 279.7 — 375.8 Hedge funds 41.8 — — — 41.8 Real assets 16.4 20.3 — — 36.7 Private equity 8.2 — — 21.7 29.9 Other investments 20.1 — — 11.4 31.5 Short-term investments 81.8 — — — 81.8 Total $ 291.9 $ 76.0 $ 279.7 $ 33.1 $ 680.7 The tables below set forth a summary of changes in the fair value of the Pension Plan's Level 3 assets for the years ended December 31, 2022 and 2021: December 31, 2022 Private Equity Other Investments Total Balance, beginning of year $ 21.7 $ 11.4 $ 33.1 Realized gains 0.8 0.2 1.0 Unrealized gains 2.3 0.7 3.0 Purchases 0.3 — 0.3 Sales ( 1.5 ) ( 0.9 ) ( 2.4 ) Balance, end of year $ 23.6 $ 11.4 $ 35.0 December 31, 2021 Private Equity Other Investments Total Balance, beginning of year $ 13.8 $ 11.4 $ 25.2 Realized gains 0.8 0.2 1.0 Unrealized gains 9.2 1.1 10.3 Purchases 0.1 — 0.1 Sales ( 2.2 ) ( 1.3 ) ( 3.5 ) Balance, end of year $ 21.7 $ 11.4 $ 33.1

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	2022 2021 Currency translation $ ( 14.6 ) $ ( 5.0 ) Pension liability ( 138.1 ) ( 166.1 ) Postretirement benefits liability ( 0.1 ) ( 9.4 ) Accumulated other comprehensive loss $ ( 152.8 ) $ ( 180.5 )
Reclassification Out Of Accumulated Other Comprehensive Income (Loss)	The following table represents the total amounts of actuarial losses recognized that were reclassified from accumulated other comprehensive loss for the years ended December 31, 2022 and 2021: 2022 2021 Amortization of Pension and Other Postretirement Benefits Items Amortization of Pension and Other Postretirement Benefits Items Actuarial Losses Recognized Actuarial Losses Recognized Affected Line in Consolidated Statement of Income: Non-operating expenses (A) $ 45.0 $ 63.5 Tax benefit ( 11.6 ) ( 16.3 ) Total reclassifications for the period, net of tax $ 33.4 $ 47.2 (A) Includes a pension settlement charge of $ 27.0 million and $ 30.4 million in 2022 and 2021, respectively.
Changes In Accumulated Other Comprehensive Income (Loss)	2022 2021 Foreign Currency Pension and Other Postretirement Benefits Total Foreign Currency Pension and Other Postretirement Benefits Total Beginning balance January 1, $ ( 5.0 ) $ ( 175.5 ) $ ( 180.5 ) $ ( 5.1 ) $ ( 241.6 ) $ ( 246.7 ) Other comprehensive (loss) income before reclassifications ( 9.6 ) — ( 9.6 ) 0.1 — 0.1 Amounts reclassified from accumulated other comprehensive loss (net of tax $( 11.6 ) and $( 16.3 )) — 33.4 33.4 — 47.2 47.2 Actuarial gain, (net of tax $( 1.4 ) and $( 6.6 )) — 3.9 3.9 — 18.9 18.9 Net current-period other comprehensive (loss) income ( 9.6 ) 37.3 27.7 0.1 66.1 66.2 Ending balance December 31, $ ( 14.6 ) $ ( 138.2 ) $ ( 152.8 ) $ ( 5.0 ) $ ( 175.5 ) $ ( 180.5 )

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information (Unaudited) [Abstract]
Schedule of Quarterly Financial Information (Unaudited)	2022 For the Quarter Ended March 31, June 30, September 30, December 31, Net sales $ 2,381.8 $ 2,672.6 $ 2,789.7 $ 2,690.3 Gross margin 479.3 539.8 574.2 553.8 Net income attributable to the Company 102.2 127.6 126.1 97.0 Net income attributable to the Company per share of common stock (A) $ 3.84 $ 4.80 $ 4.75 $ 3.66 (A) All periods adjusted for a 15 % stock dividend declared in December 2022. Prior to these adjustments, the average common shares outstanding for the first, second, third, and fourth quarters of 2022 were 23,113,523 shares, 23,101,970 shares, 23,091,318 shares, and 23,075,526 shares, respectively. 2021 For the Quarter Ended March 31, June 30, September 30, December 31, Net sales $ 1,900.5 $ 2,232.4 $ 2,313.4 $ 2,321.0 Gross margin 360.9 422.8 436.4 469.1 Net income attributable to the Company 47.2 80.1 74.3 60.8 Net income attributable to the Company per share of common stock (A) $ 1.80 $ 3.05 $ 2.84 $ 2.32 (A) All periods adjusted for a 15 % stock dividend declared in December 2022. Prior to these adjustments, the average common shares outstanding for the first, second, third, and fourth quarters of 2021 were 22,829,894 shares, 22,819,914 shares, 22,768,745 shares, and 22,784,473 shares, respectively.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Outgoing freight expenses	$ 101	$ 78.9	$ 68.8
Finance leases, right-of-use asset, statement of financial position location	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Finance leases, liability, statement of financial position location	Long-term Debt and Capital Lease Obligations, Long-term Debt and Capital Lease Obligations, Current	Long-term Debt and Capital Lease Obligations, Long-term Debt and Capital Lease Obligations, Current
Finance leases, liability, current, statement of financial position location	Long-term Debt and Capital Lease Obligations, Current	Long-term Debt and Capital Lease Obligations, Current
Finance leases, liability, noncurrent, statement of financial position location	Long-term Debt and Capital Lease Obligations	Long-term Debt and Capital Lease Obligations
Minimum
Concentration Risk [Line Items]
Amortization period	1 year 6 months
Maximum
Concentration Risk [Line Items]
Amortization period	20 years
Freight Expenses As Selling, General And Administrative Expenses | Outgoing Freight Expenses | Professional Services, General Contracting Services, And Storage Services
Concentration Risk [Line Items]
Concentration percentage	95%

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Revenue [Abstract]
Contract assets, contract liabilities, or deferred contract costs recorded

Revenue (Disaggregation Of Reve

Revenue (Disaggregation Of Revenue) (Details) - Product Concentration Risk [Member] - Revenue from Contract with Customer [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total net sales	100%	100%	100%
Construction
Disaggregation of Revenue [Line Items]
Total net sales	56.80%	58.50%	58.20%
CIG
Disaggregation of Revenue [Line Items]
Total net sales	25.80%	25.50%	26.70%
Industrial & Utility
Disaggregation of Revenue [Line Items]
Total net sales	17.40%	16%	15.10%

Allowances For Cash Discounts_3

Allowances For Cash Discounts And Credit Losses (Schedule of Cash Discounts and Doubtful Accounts) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	$ 9.1	$ 6.9	$ 6.2
Provision (Charged to Expense)	56.3	46.2	37.7
Deductions	(52)	(44)	(37)
Ending Balance	13.4	9.1	6.9
Allowance for cash discounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	3.8	2.9	2.2
Provision (Charged to Expense)	47.4	44.3	35.1
Deductions	(47.6)	(43.4)	(34.4)
Ending Balance	3.6	3.8	2.9
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	5.3	4	4
Provision (Charged to Expense)	8.9	1.9	2.6
Deductions	(4.4)	(0.6)	(2.6)
Ending Balance	$ 9.8	$ 5.3	$ 4

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Percentage of LIFO Inventory	85%	87%
Excess of Replacement or Current Costs over Stated LIFO Value	$ 492,800,000	$ 427,900,000
Inventory, LIFO Reserve, Effect on Income, Net	0	0	$ 4,100,000
Inventory Valuation Reserves	17,900,000	14,000,000
Inventory Valuation Reserve
Inventory [Line Items]
Reserves for Obsolete Inventories, Period Increase (Decrease)	$ 3,900,000	$ 5,400,000	$ (600,000)

Property And Depreciation (Narr

Property And Depreciation (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 37,600,000	$ 36,200,000	$ 36,700,000
Net book value of sold assets held for sale	0	400,000	4,400,000
Gain on sale of assets held for sale		$ 9,100,000	$ 3,400,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]		Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Net book value of assets held for sale	$ 6,700,000	$ 0

Property And Depreciation (Sche

Property And Depreciation (Schedule Of Property And Depreciation) (Details)	12 Months Ended
	Dec. 31, 2022
Building
Property, Plant and Equipment [Line Items]
Estimated useful asset life	42 years
Furniture, Fixtures & Equipment and Software [Member] | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful asset life	3 years
Furniture, Fixtures & Equipment and Software [Member] | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful asset life	14 years

Leases (Narrative) (Details)

Leases (Narrative) (Details)	12 Months Ended
	Dec. 31, 2022
Operating and finance lease, option to extend	1 year
Minimum
Operating lease, remaining lease terms	1 year
Finance lease, remaining lease terms	1 year
Maximum
Operating lease, remaining lease terms	10 years
Finance lease, remaining lease terms	10 years
Operating and finance lease, option to extend	5 years

Leases (Schedule Of Lease Expen

Leases (Schedule Of Lease Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 43.8	$ 38.4	$ 37.9
Amortization of right-of-use assets	1.9	2	2.1
Interest on lease liabilities	0.4	0.5	0.6
Total finance lease cost	2.3	2.5	2.7
Variable lease cost	12.4	10.5	10.6
Total lease cost	$ 58.5	$ 51.4	$ 51.2

Leases (Schedule Of Supplementa

Leases (Schedule Of Supplemental Balance Sheet Information) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 175.3	$ 133.1
Current operating lease liabilities	43.9	34
Non-current operating lease liabilities	147.1	107.5
Total operating lease liabilities	191	141.5
Property, at cost	12.8	14
Accumulated depreciation and amortization	(8.6)	(9.2)
Net property	4.2	4.8
Current obligations of finance leases	1.6	1.9
Finance leases, net of current obligations	3.9	4.2
Total finance lease liabilities	$ 5.5	$ 6.1
Weighted average remaining lease term, Operating leases	5 years 6 months	5 years
Weighted average remaining lease term, Finance leases	3 years 7 months 6 days	4 years
Weighted average discount rate, Operating leases	3.20%	2.50%
Weighted average discount rate, Finance leases	7.30%	7.80%

Leases (Schedule Of Supplemen_2

Leases (Schedule Of Supplemental Cash Flow And Other Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 42.6	$ 39	$ 37.3
Operating cash flows from finance leases	0.4	0.5	0.6
Financing cash flows from finance leases	2.1	2.3	2.2
Right-of-use assets obtained in exchange for lease liabilities, Operating leases	82.1	54.7	35.3
Right-of-use assets obtained in exchange for lease liabilities, Finance leases	1.5	0.4	0.3
Operating leases acquired	$ 2.9	$ 15.8	$ 1.6

Leases (Schedule Of Maturity Of

Leases (Schedule Of Maturity Of Lease Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023, Operating Leases	$ 49.2
2024, Operating Leases	44.4
2025, Operating Leases	32.9
2026, Operating Leases	26.5
2027, Operating Leases	20.2
Thereafter, Operating Leases	36.2
Total future minimum lease payments, Operating Leases	209.4
Less: imputed interest, Operating Leases	(18.4)
Total operating lease liabilities	191	$ 141.5
Less: current obligations, Operating Leases	(43.9)	(34)
Long-term lease obligation, Operating Leases	147.1	107.5
2023, Finance Leases	2
2024, Finance Leases	1.8
2025, Finance Leases	1.4
2026, Finance Leases	0.5
2027, Finance Leases	0.3
Thereafter, Finance Leases	0.3
Total future minimum lease payments, Finance Leases	6.3
Less: imputed interest, Finance Leases	(0.8)
Total finance lease liabilities	5.5	6.1
Less: current obligations, Finance Leases	(1.6)	(1.9)
Long-term lease obligation, Finance Leases	$ 3.9	$ 4.2

Goodwill And Other Intangible_3

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0	$ 0
Intangible asset impairment	0	0	$ 0
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 6,300,000	$ 4,300,000	$ 2,500,000

Goodwill And Other Intangible_4

Goodwill And Other Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning Balance	$ 57.1	$ 37.1
Acquisitions and purchase accounting adjustments	26.5	20
Translation impact	(0.5)
Ending Balance	$ 83.1	$ 57.1

Goodwill And Other Intangible_5

Goodwill And Other Intangible Assets (Schedule Of Finite Lived Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 114.3	$ 81.6
Accumulated Amortization	(23)	(16.7)
Total Net Carrying Amount	$ 91.3	$ 64.9
Weighted Average Life	14 years 4 months 24 days	14 years 10 months 24 days
Minimum
Finite-Lived Intangible Assets [Line Items]
Asset Life	1 year 6 months
Maximum
Finite-Lived Intangible Assets [Line Items]
Asset Life	20 years
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 78.4	$ 57.4
Accumulated Amortization	(16.4)	(11.6)
Total Net Carrying Amount	$ 62	$ 45.8
Weighted Average Life	12 years 10 months 24 days	13 years 4 months 24 days
Customer Relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Asset Life	6 years	6 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Asset Life	20 years	20 years
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 33.2	$ 23.2
Accumulated Amortization	(5.9)	(4.6)
Total Net Carrying Amount	$ 27.3	$ 18.6
Weighted Average Life	18 years 10 months 24 days	18 years 10 months 24 days
Trade Names | Minimum
Finite-Lived Intangible Assets [Line Items]
Asset Life	5 years	5 years
Trade Names | Maximum
Finite-Lived Intangible Assets [Line Items]
Asset Life	20 years	20 years
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1.3	$ 0.9
Accumulated Amortization	(0.5)	(0.4)
Total Net Carrying Amount	$ 0.8	$ 0.5
Weighted Average Life	5 years 3 months 18 days	5 years 6 months
Noncompete Agreements | Minimum
Finite-Lived Intangible Assets [Line Items]
Asset Life	3 years	3 years
Noncompete Agreements | Maximum
Finite-Lived Intangible Assets [Line Items]
Asset Life	7 years	7 years
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1.4	$ 0.1
Accumulated Amortization	(0.2)	$ (0.1)
Total Net Carrying Amount	$ 1.2
Asset Life	10 years
Weighted Average Life	2 years 8 months 12 days	10 years
Other Intangible Assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Asset Life	1 year 6 months
Other Intangible Assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Asset Life	10 years

Goodwill And Other Intangible_6

Goodwill And Other Intangible Assets (Finite Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Goodwill And Other Intangible Assets [Abstract]
2023	$ 9.3
2024	9
2025	8.4
2026	7
2027	6.8
After 2027	50.8
Total Net Carrying Amount	$ 91.3	$ 64.9

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Unrecognized tax benefits	$ 0.5	$ 1	$ 1.7
Accrued interest and penalties	0.1	0.2
Domestic Tax Authority [Member]
Valuation allowance	$ 0.8	$ 0.5

Income Taxes (Schedule Of Incom

Income Taxes (Schedule Of Income Before Income Tax, Domestic And Foreign) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
Components of Income before Taxes, Domestic	$ 573.6	$ 327.6	$ 151.1
Components of Income before Taxes, Foreign	35.9	23.3	15.2
Income before Taxes	$ 609.5	$ 350.9	$ 166.3

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components Of Income Tax Expense Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Provisions for Income Taxes Recorded in the Consolidated Statements of Income [Abstract]
U.S. Federal, current expense	$ 119.5	$ 77.3	$ 38.5
State, current expense	28.8	18.2	11.4
Foreign, current expense	10.5	6.5	4.5
Total current expense	158.8	102	54.4
U.S. Federal, deferred expense	(2.1)	(10.9)	(7.8)
State, deferred benefit	(0.6)	(3.2)	(2.3)
Foreign, deferred benefit	(0.3)		(0.1)
Total deferred benefit	(3)	(14.1)	(10.2)
Total income tax provision	$ 155.8	$ 87.9	$ 44.2

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory U.S. federal income tax rate	21%	21%	21%
State and local income taxes, net of federal benefit	3.70%	3.30%	4.30%
Other, net	0.90%	0.70%	1.30%
Effective tax rate	25.60%	25%	26.60%

Income Taxes (Schedule Of Defer

Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Components of Deferred Tax Assets and Liabilities [Abstract]
Pension	$ 28.9	$ 32.8
Operating lease liabilities	47.2	34.4
Postretirement benefits	16	19.3
Inventory	20.1	25
Other deferred tax assets	19.6	5.8
Payroll accruals	5.4	7.2
Bad debt reserves	2.2	0.7
Subtotal	139.4	125.2
Less: valuation allowances	(0.8)	(0.5)
Deferred tax assets	138.6	124.7
Fixed assets	(41.4)	(38.8)
Operating lease right-of-use assets	(43.2)	(32.3)
Other deferred tax liabilities	(22.3)	(9.1)
Computer software	(0.8)	(2.4)
Deferred tax liabilities	(107.7)	(82.6)
Net deferred tax assets	30.9	42.1
Deferred Tax Assets, Net, Classification [Abstract]
Net deferred tax assets	30.9	42.1
Other Noncurrent Assets [Member]
Deferred Tax Assets, Net, Classification [Abstract]
Deferred tax assets, included in other non-current assets	33.6	45.2
Other Noncurrent Liabilities [Member]
Deferred Tax Assets, Net, Classification [Abstract]
Deferred tax liabilities included in other non-current liabilities	$ (2.7)	$ (3.1)

Income Taxes (Summary Of Operat

Income Taxes (Summary Of Operating Loss Carryforwards) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Abstract]
U.S. Federal	$ 0.8	$ 0.5
State	$ 0.2	$ 0.2

Income Taxes (Schedule Of Unrec

Income Taxes (Schedule Of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1:	$ 1	$ 1.7	$ 1.9
Additions based on tax positions related to current year			0.2
Reductions for tax positions of prior years	(0.5)	(0.7)	(0.1)
Settlements			(0.3)
Balance at December 31:	$ 0.5	$ 1	$ 1.7

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Percent of stock owned by active and retired employees	100%
Common stock, stated value per share	$ 20	$ 20
Common stock, subscriptions ( in shares)	1,185,564
Common shares subscribed (in dollars)	$ 23.7
Common stock dividend declared, percent	15%
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock par or stated value per share (USD per share)	$ 0.01	$ 0.01
Preferred stock outstanding (in shares)	0	0
2017 Voting Trust | Common Stock
Class of Stock [Line Items]
Percent of shares held in voting trust	83%

Capital Stock (Schedule of Comm

Capital Stock (Schedule of Common Stock Shares Purchased and Retired) (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capital Stock [Abstract]
Shares of common stock purchased	735,641	794,227	824,685
Shares of common stock retired	725,186	798,166	830,338

Net Income Per Share Of Commo_2

Net Income Per Share Of Common Stock (Narrative) (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Income Per Share Of Common Stock [Abstract]
Common stock dividend declared, percent	15%
Average common shares outstanding	26,558,393	26,213,024	26,038,366

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Fixed rate debt carrying amount in excess of fair value	$ 300,000	$ 900,000
Short-term borrowings	31,600,000	124,200,000
Interest expense, net	1,600,000	1,000,000	$ 3,800,000
Minimum
Line of Credit Facility [Line Items]
Short-term borrowings	0	0
Maximum
Line of Credit Facility [Line Items]
Short-term borrowings	173,100,000	124,200,000
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding	7,800,000	6,100,000
Amended Credit Agreement
Line of Credit Facility [Line Items]
Letters of credit outstanding	1,900,000	400,000
Amended Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Short-term borrowings	30,000,000	124,200,000
Short-term debt average amount outstanding	$ 65,700,000	$ 10,600,000
Interest rate during the period		1.15%
Weighted average interest rate	5.39%
Debt instrument interest expense	$ 2,000,000	$ 1,000,000	$ 3,600,000
Unused borrowing capacity, amount	$ 718,100,000	$ 625,400,000
Amended Credit Agreement | Revolving Credit Facility | Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0%	0%
Amended Credit Agreement | Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1%	1%
Amended Credit Agreement | Revolving Credit Facility | Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.60%	0.60%
Amended Credit Agreement | Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.60%	1.60%
Amended Credit Agreement | Revolving Credit Facility | Weighted Average
Line of Credit Facility [Line Items]
Interest rate during the period	1.98%
Prudential Private Placement Shelf Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000
Notes issued face amount	0	$ 0
MetLife Private Placement Shelf Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	150,000,000
Notes issued face amount	$ 0	0
Prudential Shelf Agreement Or MetLife Shelf Agreement
Line of Credit Facility [Line Items]
Issuance period	3 years
Line of credit | Amended Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 750,000,000	750,000,000
Accordion feature, increase limit	$ 375,000,000	$ 375,000,000
Debt instrument, term	5 years	5 years
Debt maturity date	Aug. 01, 2026	Aug. 01, 2026
Line of credit | Amended Credit Agreement | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage	0.25%	0.25%
Line of credit | Amended Credit Agreement | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage	0.40%	0.40%
Line of credit | Amended Credit Agreement | Letter of Credit Sub-Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 25,000,000	$ 25,000,000
Line of credit | Amended Credit Agreement | Bridge Loan | UNITED STATES
Line of Credit Facility [Line Items]
Maximum borrowing capacity	75,000,000	75,000,000
Line of credit | Amended Credit Agreement | Bridge Loan | CANADA
Line of Credit Facility [Line Items]
Maximum borrowing capacity	20,000,000
Line of credit | Amended Credit Agreement | Bridge Loan | CANADA | Graybar Canada [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000	$ 100,000,000
Line of credit | Amended Credit Agreement | Letter of Credit | Minimum
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage	1%	1%
Line of credit | Amended Credit Agreement | Letter of Credit | Maximum
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage	1.60%	1.60%

Debt (Schedule Of Long-term Deb

Debt (Schedule Of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total	$ 5.5
Less current portion	(1.6)	$ (1.9)
Long-term Debt	3.9	4.2
Capital leases, various maturities, with a weighted average interest rate of 6.16%
Debt Instrument [Line Items]
Total	$ 5.5	$ 6.1
Weighted average interest rate	7.30%	7.30%

Debt (Schedule Of Long-term D_2

Debt (Schedule Of Long-term Debt Maturities) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Long-term Debt matures as follows:
2023	$ 1.6
2024	1.6
2025	1.2
2026	0.5
2027	0.3
After 2027	0.3
Total	$ 5.5

Pension And Other Postretirem_3

Pension And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended			12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Required term of service to be eligible for plan match							one year of service and 1,000 hours of service
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate, Actuarial Present Value	5%						5%
Estimated nonqualified benefits in next fiscal year							$ 3.9
Non-cash pension settlement charge							$ 27	$ 30.4	$ 27.7
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]							Other Nonoperating Expense	Other Nonoperating Expense	Other Nonoperating Expense
Estimated future employer contributions	$ 40						$ 40
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.83%	2.72%	2.72%	2.86%	2.62%	3.38%
Non-cash pension settlement charge							27	$ 30.4	$ 27.7
Accumulated benefit obligation	$ 536.7	$ 774.7					$ 536.7	$ 774.7
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate							2.71%	2.22%	3.19%

Pension And Other Postretirem_4

Pension And Other Postretirement Benefits Benefit Obligation (Schedule Of Net Funded Status) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	$ 680.7
Balance, end of year	433.1	$ 680.7
Paid from Company assets for unfunded nonqualified benefits	2	1.6
Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of period	841.9	921.8
Service cost	26.4	30.2	$ 29.2
Interest cost	25.5	23.9	26.7
Actuarial gain	(221)	(11.6)
Benefits paid from plan assets	(0.4)	(2.5)
Benefits paid from Company assets	(2)	(1.6)
Plan participants' contributions
Administrative expenses paid	(1.5)	(1.5)
Settlement charge	(91)	(116.8)
Benefit obligation, end of period	577.9	841.9	921.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	680.7	722
Actual return on plan assets	(197.5)	39.5
Employer contributions	44.8	41.6
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant
Benefits paid	(2.4)	(4.1)
Administrative expenses paid	(1.5)	(1.5)
Settlements	(91)	(116.8)
Balance, end of year	433.1	680.7	722
Unfunded status	144.8	161.2
Postretirement Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of period	75.1	80.9
Service cost	2	2.2	2.1
Interest cost	2	1.7	2.4
Actuarial gain	(12)	(5)
Benefits paid from plan assets
Benefits paid from Company assets	(5.3)	(5.6)
Plan participants' contributions	0.5	0.9
Administrative expenses paid
Settlement charge
Benefit obligation, end of period	62.3	75.1	80.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year
Actual return on plan assets
Employer contributions	4.8	4.7
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	0.5	0.9
Benefits paid	(5.3)	(5.6)
Administrative expenses paid
Settlements
Balance, end of year
Unfunded status	$ 62.3	$ 75.1

Pension And Other Postretirem_5

Pension And Other Postretirement Benefits (Schedule Of Amounts Recognized In Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Liability, Defined Benefit Plan [Abstract]
Current accrued benefit cost	$ 4	$ 2.1
Non-current accrued benefit cost	140.8	159.1
Net amount recognized	144.8	161.2
Postretirement Benefits
Liability, Defined Benefit Plan [Abstract]
Current accrued benefit cost	6.8	6.6
Non-current accrued benefit cost	55.5	68.5
Net amount recognized	$ 62.3	$ 75.1

Pension And Other Postretirem_6

Pension And Other Postretirement Benefits (Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax [Abstract]
Net actuarial loss	$ 138.1	$ 166.1
Accumulated other comprehensive loss	138.1	166.1
Postretirement Benefits
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax [Abstract]
Net actuarial loss		9.3
Prior service cost	0.1	0.1
Accumulated other comprehensive loss	$ 0.1	$ 9.4

Pension And Other Postretirem_7

Pension And Other Postretirement Benefits (Schedule Of Weighted-Average Assumptions Used To Determine Net Periodic Benefit Cost) (Details)	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Healthcare cost trend on covered charges	5%
Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.55%	2.86%
Rate of compensation increase	4.28%	4.38%
Postretirement Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.70%	2.71%
Defined Benefit Plan, Healthcare cost trend on covered charges	5%	5%

Pension And Other Postretirem_8

Pension And Other Postretirement Benefits (Schedule Of Net Periodic Benefit Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Total selling, general, and administrative expenses	$ 1,442.8	$ 1,240.5	$ 1,098.9
Settlement charge	27	30.4	27.7
Total non-operating expenses	44.3	59.5	58.5
Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	26.4	30.2	29.2
Total selling, general, and administrative expenses	26.4	30.2	29.2
Interest cost	25.5	23.9	26.7
Expected return on plan assets	(30.2)	(30.6)	(32.8)
Amortization of net actuarial loss	17.4	32.3	30.2
Settlement charge	27	30.4	27.7
Total non-operating expenses	39.7	56	51.8
Net periodic benefit cost	$ 66.1	$ 86.2	$ 81
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Expected return on plan assets	5%	5%	5.50%
Rate of compensation increase	4.21%	4.32%	4.24%
Postretirement Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 2	$ 2.2	$ 2.1
Total selling, general, and administrative expenses	2	2.2	2.1
Interest cost	2	1.7	2.4
Amortization of net actuarial loss	0.6	0.8	0.7
Total non-operating expenses	2.6	2.5	3.1
Net periodic benefit cost	$ 4.6	$ 4.7	$ 5.2
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Healthcare cost trend on covered charges	5%	5%	5%

Pension And Other Postretirem_9

Pension And Other Postretirement Benefits (Schedule Of Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	$ 47.1
2024	43.5
2025	46.9
2026	49.6
2027	50.6
2028 to 2031	266.7
Postretirement Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	7
2024	7.3
2025	7.6
2026	7.6
2027	7.4
2028 to 2031	$ 30.9

Pension And Other Postretire_10

Pension And Other Postretirement Benefits (Schedule Of Allocation Of Plan Assets) (Details)	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	100%	100%
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100%	100%
Equity Securities - U.S.
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	7%	6%
Equity Securities - International
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	5%	6%
Fixed Income Investments - U.S.
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	46%	55%
Hedge Funds
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	6%	6%
Private equity
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	8%	5%
Real assets
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	5%	5%
Other
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	4%	5%
Short-term Investments
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	19%	12%
Minimum | Equity Securities - U.S.
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	3%	3%
Minimum | Equity Securities - International
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum | Fixed Income Investments - U.S.
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	40%	40%
Minimum | Hedge Funds
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum | Private equity
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum | Real assets
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum | Other
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0%	0%
Minimum | Short-term Investments
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	1%	1%
Maximum | Equity Securities - U.S.
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%
Maximum | Equity Securities - International
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%
Maximum | Fixed Income Investments - U.S.
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	80%	80%
Maximum | Hedge Funds
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8%	8%
Maximum | Private equity
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8%	8%
Maximum | Real assets
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%
Maximum | Other
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8%	8%
Maximum | Short-term Investments
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%

Pension And Other Postretire_11

Pension And Other Postretirement Benefits (Schedule Of Changes In Fair Value Of Plan Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	$ 433.1	$ 680.7
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	680.7
Balance, end of year	433.1	680.7
Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	169.6	291.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	291.9
Balance, end of year	169.6	291.9
Quoted Prices in Active Markets for Identical Inputs (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	43	76
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	76
Balance, end of year	43	76
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	185.5	279.7
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	279.7
Balance, end of year	185.5	279.7
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	35	33.1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	33.1	25.2
Realized gains	1	1
Unrealized gains	3	10.3
Purchases	0.3	0.1
Sales	(2.4)	(3.5)
Balance, end of year	35	33.1
Equity Securities - U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	28.3	40.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	40.9
Balance, end of year	28.3	40.9
Equity Securities - U.S. | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value		13.6
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	13.6
Balance, end of year		13.6
Equity Securities - U.S. | Quoted Prices in Active Markets for Identical Inputs (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	28.3	27.3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	27.3
Balance, end of year	28.3	27.3
Equity Securities - International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	22.5	42.3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	42.3
Balance, end of year	22.5	42.3
Equity Securities - International | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	9.1	13.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	13.9
Balance, end of year	9.1	13.9
Equity Securities - International | Quoted Prices in Active Markets for Identical Inputs (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	13.4	28.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	28.4
Balance, end of year	13.4	28.4
Fixed Income Investments - U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	198.2	375.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	375.8
Balance, end of year	198.2	375.8
Fixed Income Investments - U.S. | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	12.7	96.1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	96.1
Balance, end of year	12.7	96.1
Fixed Income Investments - U.S. | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	185.5	279.7
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	279.7
Balance, end of year	185.5	279.7
Hedge Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	27.4	41.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	41.8
Balance, end of year	27.4	41.8
Hedge Funds | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	27.4	41.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	41.8
Balance, end of year	27.4	41.8
Real assets
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	21.5	36.7
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	36.7
Balance, end of year	21.5	36.7
Real assets | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	20.2	16.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	16.4
Balance, end of year	20.2	16.4
Real assets | Quoted Prices in Active Markets for Identical Inputs (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	1.3	20.3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	20.3
Balance, end of year	1.3	20.3
Private equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	34.5	29.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	29.9
Balance, end of year	34.5	29.9
Private equity | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	10.9	8.2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	8.2
Balance, end of year	10.9	8.2
Private equity | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	23.6	21.7
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	21.7	13.8
Realized gains	0.8	0.8
Unrealized gains	2.3	9.2
Purchases	0.3	0.1
Sales	(1.5)	(2.2)
Balance, end of year	23.6	21.7
Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	16.8	31.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	31.5
Balance, end of year	16.8	31.5
Other | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	5.4	20.1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	20.1
Balance, end of year	5.4	20.1
Other | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	11.4	11.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	11.4	11.4
Realized gains	0.2	0.2
Unrealized gains	0.7	1.1
Purchases
Sales	(0.9)	(1.3)
Balance, end of year	11.4	11.4
Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	83.9	81.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	81.8
Balance, end of year	83.9	81.8
Short-term Investments | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	83.9	81.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	81.8
Balance, end of year	$ 83.9	$ 81.8

Profit Sharing And Savings Pl_2

Profit Sharing And Savings Plan (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended			24 Months Ended	54 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Required term of service to be eligible for plan match			6 months 500 hours	6 months 500 hours	1 year 1000 hours
Profit Sharing and Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Voluntary contribution, minimum percent of employee pay	2%
Voluntary contribution, maximum percent of employee pay	50%
Percentage of employee contribution matched by employer	50%
Percent of employee pay eligible for matching contributions	6%
Employer matching contribution percentage maximum of pay	3%
Employer Matching Contribution	$ 5.9	$ 4.5	$ 3.8
Discretionary Employer Contribution	$ 78.7	$ 71.3	$ 46.8

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Rent expense	$ 52.2	$ 42.9	$ 40.3
Insurance receivables current	2.5
Insurance receivables non-current	41.5
Other Current Liabilities [Member]
Liability related to asbestos claims and related insurance receivables	2.5
Other Noncurrent Liabilities [Member]
Liability related to asbestos claims and related insurance receivables	$ 41.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Currency translation	$ (14.6)	$ (5)
Accumulated Other Comprehensive Loss	(152.8)	(180.5)
Pension Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefits liability	(138.1)	(166.1)
Accumulated Other Comprehensive Loss	(138.1)	(166.1)
Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefits liability	$ (0.1)	$ (9.4)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Reclassification Out Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-operating expenses	$ 44.3	$ 59.5	$ 58.5
Tax benefit	155.8	87.9	44.2
Total reclassifications for the period, net of tax	(453.7)	(263)	(122.1)
Non-cash pension settlement charge	27	30.4	$ 27.7
Reclassification out of AOCI | Actuarial Losses Recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-operating expenses	45	63.5
Tax benefit	(11.6)	(16.3)
Total reclassifications for the period, net of tax	$ 33.4	$ 47.2

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss (Changes In Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 1,126.5
Ending balance	1,520	$ 1,126.5
Amounts reclassified from accumulated other comprehensive loss, tax	(11.6)	(16.3)
Actuarial (loss) gain, tax	(1.4)	(6.6)
Foreign Currency
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(5)	(5.1)
Other comprehensive (loss) income before reclassifications	(9.6)	0.1
Amounts reclassified from accumulated other comprehensive loss (net of tax)
Actuarial gain, (net of tax)
Net current-period other comprehensive (loss) income	(9.6)	0.1
Ending balance	(14.6)	(5)
Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(175.5)	(241.6)
Other comprehensive (loss) income before reclassifications
Amounts reclassified from accumulated other comprehensive loss (net of tax)	33.4	47.2
Actuarial gain, (net of tax)	3.9	18.9
Net current-period other comprehensive (loss) income	37.3	66.1
Ending balance	(138.2)	(175.5)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(180.5)	(246.7)
Other comprehensive (loss) income before reclassifications	(9.6)	0.1
Amounts reclassified from accumulated other comprehensive loss (net of tax)	33.4	47.2
Actuarial gain, (net of tax)	3.9	18.9
Net current-period other comprehensive (loss) income	27.7	66.2
Ending balance	$ (152.8)	$ (180.5)

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 83.1	$ 57.1	$ 37.1
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Preliminary purchase price	83.7	89.7
Goodwill	12.5	20.9
Preliminary purchase price, other intangible assets	28.1	$ 32.1
Preliminary purchase price, nondeductible goodwill	12.6
Preliminary purchase price, nondeductible other intangible assets	$ 5.3
Shingle & Gibb Automation, LLC [Member]
Business Acquisition [Line Items]
Preliminary purchase price			27.7
Goodwill			7.6
Preliminary purchase price, other intangible assets			$ 18.1

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Schedule Of Quarterly Financial Information (Unaudited)) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Net sales	$ 2,690.3	$ 2,789.7	$ 2,672.6	$ 2,381.8	$ 2,321	$ 2,313.4	$ 2,232.4	$ 1,900.5	$ 10,534.4		$ 8,767.3		$ 7,265.7
Gross margin	553.8	574.2	539.8	479.3	469.1	436.4	422.8	360.9	2,147.1		1,689.2		1,369.5
Net income attributable to the Company	$ 97	$ 126.1	$ 127.6	$ 102.2	$ 60.8	$ 74.3	$ 80.1	$ 47.2	$ 452.9		$ 262.4		$ 121.8
Net income attributable to the Company per share of common stock (usd per share)	$ 3.66	$ 4.75	$ 4.80	$ 3.84	$ 2.32	$ 2.84	$ 3.05	$ 1.80	$ 17.05	[1]	$ 10.01	[1]	$ 4.68	[1]
Common stock dividend declared, percent									15%
Average common shares outstanding									26,558,393		26,213,024		26,038,366
Previously Reported
Average common shares outstanding	23,075,526	23,091,318	23,101,970	23,113,523	22,784,473	22,768,745	22,819,914	22,829,894			22,800,000		22,600,000
[1] Adjusted for the declaration of a 15 % stock dividend in December 2022, shares related to which were issued in February 2023. Prior to the adjustment, the average common shares outstanding were 22.8 million shares and 22.6 million shares for the years ended December 31, 2021 and 2020, respectively.