Graybar Electric (GRAYBAR) 10-K 14 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
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, 2023
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			$ 529,407,900
Entity Common Stock, Shares Outstanding		32,422,931
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 2024 Annual Meeting of Shareholders – Part III, Items 10-14
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Document Financial Statement Error Correction [Flag]	false
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements Of Income [Abstract]
Net Sales		$ 11,042.4	$ 10,534.4	$ 8,767.3
Cost of merchandise sold		(8,818.6)	(8,387.3)	(7,078.1)
Gross Margin		2,223.8	2,147.1	1,689.2
Selling, general and administrative expenses		(1,525)	(1,442.8)	(1,240.5)
Depreciation and amortization		(66.1)	(53.4)	(49.8)
Other income, net		4.6	2.9	11.5
Income from Operations		637.3	653.8	410.4
Non-operating expenses, net		(8)	(44.3)	(59.5)
Income before Provision for Income Taxes		629.3	609.5	350.9
Provision for income taxes		(164.9)	(155.8)	(87.9)
Net Income		464.4	453.7	263
Net income attributable to noncontrolling interests		(1)	(0.8)	(0.6)
Net Income attributable to Graybar Electric Company, Inc.		$ 463.4	$ 452.9	$ 262.4
Net Income attributable to Graybar Electric Company, Inc. per share of Common Stock	[1]	$ 14.42	$ 14.21	$ 8.34
[1] Adjusted for the declaration of a 20 % stock dividend in December 2023, shares related to which were issued in February 2024. Prior to the adjustment, the average common shares outstanding were 26.6 million shares and 26.2 million shares for the years ended December 31, 2022 and 2021, respectively.

Consolidated Statements Of In_2

Consolidated Statements Of Income (Parenthetical) - shares			3 Months Ended								12 Months Ended
	Dec. 13, 2023	Dec. 07, 2022	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common stock dividend declared, percent	20%	15%									20%	15%
Average common shares outstanding											32,121,723	31,870,071	31,455,629
Previously Reported [Member]
Average common shares outstanding			26,680,115	26,741,319	26,798,704	26,891,485	23,075,526	23,091,318	23,101,970	23,113,523		26,600,000	26,200,000

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements Of Comprehensive Income [Abstract]
Net Income	$ 464.4	$ 453.7	$ 263
Other Comprehensive Income (Loss)
Foreign currency translation	4	(9.8)	0.1
Pension and postretirement benefits liability adjustments (net of tax of $10.1, $(13.0), and $(22.9), respectively)	(29.1)	37.3	66.1
Total Other Comprehensive (Loss) Income	(25.1)	27.5	66.2
Comprehensive Income	439.3	481.2	329.2
Less: comprehensive income attributable to noncontrolling interests, net of tax	1	0.6	0.6
Comprehensive Income attributable to Graybar Electric Company, Inc.	$ 438.3	$ 480.6	$ 328.6

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements Of Comprehensive Income [Abstract]
Pension and postretirement benefits liability adjustments, tax	$ 10.1	$ (13)	$ (22.9)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 98,600,000	$ 69,400,000
Trade receivables (less allowances of $13.6 and $13.4, respectively)	1,657,300,000	1,673,000,000
Merchandise inventory	908,400,000	1,026,300,000
Other current assets	79,600,000	83,700,000
Total Current Assets	2,743,900,000	2,852,400,000
Property, at cost
Land	97,400,000	97,300,000
Buildings	598,700,000	562,100,000
Furniture and fixtures	310,300,000	282,900,000
Software	158,700,000	148,000,000
Finance leases	13,400,000	12,800,000
Total Property, at cost	1,178,500,000	1,103,100,000
Accumulated depreciation and amortization	(678,600,000)	(641,900,000)
Net Property	499,900,000	461,200,000
Operating Lease Right-of-use Assets	219,200,000	176,000,000
Goodwill	179,000,000	83,100,000
Intangible Assets (less accumulated amortization of $38.0 and $23.0, respectively)	261,900,000	90,600,000
Other Non-current Assets	102,200,000	85,800,000
Total Assets	4,006,100,000	3,749,100,000
Current Liabilities
Short-term borrowings	0	31,600,000
Current portion of long-term debt	1,900,000	1,600,000
Trade accounts payable	1,255,300,000	1,276,800,000
Accrued payroll and benefit costs	192,100,000	219,200,000
Other accrued taxes	29,100,000	34,300,000
Current operating lease liabilities	51,900,000	43,900,000
Other current liabilities	193,000,000	213,500,000
Total Current Liabilities	1,723,300,000	1,820,900,000
Postretirement Benefits Liability	55,900,000	55,500,000
Pension Liability	107,300,000	140,800,000
Long-term Debt	2,800,000	3,900,000
Non-current Operating Lease Liabilities	183,400,000	147,100,000
Other Non-current Liabilities	45,100,000	55,300,000
Total Liabilities	2,117,800,000	2,223,500,000
SHAREHOLDERS’ EQUITY
Outstanding Common Stock	641,300,000	531,800,000
Common shares subscribed	27,000,000	23,700,000
Less subscriptions receivable	(27,000,000)	(23,700,000)
Retained Earnings	1,417,100,000	1,141,000,000
Accumulated Other Comprehensive Loss	(177,900,000)	(152,800,000)
Total Graybar Electric Company, Inc. Shareholders’ Equity	1,880,500,000	1,520,000,000
Noncontrolling Interests	7,800,000	5,600,000
Total Shareholders’ Equity	1,888,300,000	1,525,600,000
Total Liabilities and Shareholders’ Equity	$ 4,006,100,000	$ 3,749,100,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Consolidated Balance Sheets [Abstract]
Trade receivables, allowances	$ 13.6	$ 13.4
Intangible Assets, Accumulated Amortization	$ 38	$ 23
Common stock, stated value per share	$ 20	$ 20
Authorized	50,000,000	50,000,000
Issued to voting trustees	26,614,542	22,085,481
Issued to shareholders	5,518,543	4,568,288
In treasury, at cost	(69,174)	(63,563)
Outstanding Common Stock	32,063,911	26,590,206
Common shares subscribed	1,347,781	1,185,564
Less subscription receivable	(1,347,781)	(1,185,564)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Net Income	$ 464.4	$ 453.7	$ 263
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	66.1	53.4	49.8
Non-cash operating lease expense	51.1	39.5	34.9
Deferred income taxes	15.4	(3)	(14.1)
Net (gains) losses on disposal of assets	(0.4)	0.4	(9.4)
Losses on impairment of assets	0.4
Non-cash pension settlement charge		27	30.4
Earnings on investment in employee deferred compensation trust	(0.9)
Net income attributable to noncontrolling interests	(1)	(0.8)	(0.6)
Changes in assets and liabilities:
Trade receivables	115.9	(235.7)	(274.5)
Merchandise inventory	173.1	(201)	(187.6)
Other current assets	5.4	(28.6)	2.5
Other non-current assets	1.3	(43.3)	(2)
Trade accounts payable	(79.5)	213.6	157.9
Accrued payroll and benefit costs	(32.1)	30.5	64.8
Other current liabilities	(22.3)	50.8	32.6
Other non-current liabilities	(133.8)	(3.6)	(20.2)
Total adjustments to net income	158.7	(100.8)	(135.5)
Net cash provided by operating activities	623.1	352.9	127.5
Cash Flows from Investing Activities
Proceeds from disposal of property	1.1	0.6	9.9
Capital expenditures for property	(82)	(67.7)	(70.9)
Amounts attributable to acquisitions	(378.8)	(83.7)	(88.7)
Investment in employee deferred compensation trust	(25)
Net cash used by investing activities	(484.7)	(150.8)	(149.7)
Cash Flows from Financing Activities
Net (decrease) increase in short-term borrowings	(31.6)	(92.6)	74.2
Principal payments under finance arrangements	(1.8)	(2.1)	(2.3)
Payment of deferred financing fees			(2.2)
Proceeds from advance payments on common stock prior to issuance	0.8	1	2.1
Sales of common stock	22.9	20.4	20.5
Purchases of common stock	(20.3)	(14.7)	(15.9)
Sales of noncontrolling interests’ common stock	1.5		1.1
Purchases of noncontrolling interests’ common stock	(0.3)	(0.4)	(0.8)
Dividends paid	(80.4)	(92.8)	(137.2)
Net cash used by financing activities	(109.2)	(181.2)	(60.5)
Net Increase (Decrease) in Cash	29.2	20.9	(82.7)
Cash, Beginning of Year	69.4	48.5	131.2
Cash, End of Year	98.6	69.4	48.5
Non-cash Investing and Financing Activities:
Acquisitions of equipment under finance leases	1	1.5	0.4
Acquisitions of assets under operating leases	92.5	82.1	54.7
Cash Paid During the Year for:
Interest, net of amounts capitalized	2.6	1.6	1
Income taxes, net of refunds	$ 142	$ 164.9	$ 96.7

Consolidated Statements Of Chan

Consolidated Statements Of Changes In Shareholders’ Equity - USD ($) $ in Millions	Common Stock Including Additional Paid In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interests [Member]	Total
Balance at Dec. 31, 2020	$ 452.1	$ 725.1	$ (246.7)	$ 4.5	$ 935
Net income		262.4		0.6	263
Other comprehensive (loss) income			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 (loss) income			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
Net income		463.4		1	464.4
Other comprehensive (loss) income			(25.1)		(25.1)
Stock issued	22.9				24.4
Stock issued				1.5
Stock purchased	(20.3)			(0.3)	(20.6)
Dividends declared		(187.3)			(80.4)
Dividends declared	106.9
Balance at Dec. 31, 2023	$ 641.3	$ 1,417.1	$ (177.9)	$ 7.8	$ 1,888.3

Description Of The Business

Description Of The Business	12 Months Ended
	Dec. 31, 2023
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, 2023
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. Reclassifications Certain reclassifications have been made to prior year’s financial information to conform to the December 31, 2023 presentation. These changes consisted of disaggregating other non-current assets into separate captions and reclassifying between other non-current assets and operating lease right-of-use assets within the December 31, 2022 consolidated balance sheet. The reclassifications had no effect on total assets or liabilities as of December 21, 2022. 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 $ 102.0 million, $ 101.0 million, and $ 78.9 million for the years ended December 31, 2023, 2022, and 2021, 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 is comprised entirely of finished goods. Most of our inventory 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. Our remaining inventory is stated at the lower of cost or market determined using average cost. 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 2.5 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 unable to reach the ‘more likely than not’ standard, 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 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". We classify interest expense and penalties associated with taxes and uncertain tax positions as part of our provision for income taxes based upon applicable federal and state interest/underpayment percentages. 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. Employee Deferred Compensation Trust We have an employee deferred compensation trust to meet funding obligations for nonqualified pension benefits to certain participants in the supplemental benefit plan. Assets in the trust are classified as other non-current assets in the consolidated balance sheet. Earnings and losses on investments in the employee deferred compensation trust are reported in non-operating expenses, net in the consolidated statements of income. 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, net Non-operating expenses, net are comprised of interest expense, net, earnings and losses on investments, which consists of highly liquid money market funds and a U.S. Treasury note, 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. Subsequent Events On March 1, 2024, we completed a business acquisition by acquiring 100 % of the target’s outstanding equity interests. The acquisition was funded with cash on hand. New Accounting Standards In December 2022, the FASB issued Accounting Standards Update (“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. We have transitioned to the Secured Overnight Financing Rate (“SOFR”) as our reference rate effective March 29, 2023, as described in Note 12, “Debt”. The adoption of this Update did not have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” which requires public entities to provide enhanced disclosures of significant segment expenses and other segment items. Public entities with a single reportable segment must provide all the disclosures required by Topic 280, including the significant segment expense disclosures. The guidance requires public entities to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The guidance applies to all public entities and is effective for fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The guidance shall be applied retrospectively to all periods presented in the financial statements. We are currently evaluating the impact of adopting the Update to our required disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” which is intended to enhance the transparency and decision usefulness of income tax disclosures. The guidance addresses investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and shall be applied on a prospective basis. We are currently evaluating the impact of this Update on our consolidated financial statements and expect considerable expansion of our income tax footnote disclosures.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
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, 2023, 2022 and 2021: For the Years Ended December 31, 2023 2022 2021 Construction 58.4 % 56.8 % 58.5 % CIG 23.3 26.0 25.5 Industrial & Utility 18.3 17.2 16.0 Total net sales 100.0 % 100.0 % 100.0 % Certain reclassifications have been made to the vertical market assigned to customers in the prior year’s information to conform to the December 31, 2023 presentation. We had no material contract assets, contract liabilities, or deferred contract costs recorded on the consolidated balance sheet as of December 31, 2023 and 2022. In addition, for the years ended December 31, 2023, 2022 and 2021, 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, 2023
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, 2023 Allowance for cash discounts $ 3.6 $ 51.7 $ ( 51.7 ) $ 3.6 Allowance for credit losses 9.8 6.2 ( 6.0 ) 10.0 Total $ 13.4 $ 57.9 $ ( 57.7 ) $ 13.6 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

Inventory

Inventory	12 Months Ended
	Dec. 31, 2023
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 80 % and 85 % of the total inventories at December 31, 2023 and 2022, respectively. Had the first-in, first-out (“FIFO”) method been used, merchandise inventory would have been $ 453.3 million and $ 492.8 million greater than reported under the LIFO method at December 31, 2023 and 2022, respectively. In 2023, we liquidated portions of previously created LIFO layers, resulting in increases in cost of merchandise sold of $ 5.2 million. We did no t liquidate any portion of previously-created LIFO layers in 2022 and 2021. Reserves for excess and obsolete inventories were $ 23.7 million and $ 17.9 million at December 31, 2023 and 2022, respectively. The change in the reserve for excess and obsolete inventories, included in cost of merchandise sold, was $ 5.8 million, $ 3.9 million, and $ 5.4 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Property And Depreciation

Property And Depreciation	12 Months Ended
	Dec. 31, 2023
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 useful 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 useful life or the lease term Depreciation expense was $ 43.1 million, $ 37.6 million, and $ 36.2 million in 2023, 2022, and 2021, 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, 2023 and 2022. We did no t sell any assets classified as held for sale in 2023 and 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 . Where applicable, we capitalize qualifying internal and external costs incurred to develop or obtain software for internal use during the application development stage. Costs incurred during the pre-application development and post-implementation stages are expensed as incurred. We capitalized software and software development costs of $ 11.9 million and $ 2.1 million in 2023 and 2022, respectively, and the amounts are recorded in software. 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. We did no t recognize any impairment on property for the years ended December 31, 2023, 2022 and 2021.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
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, 2023, 2022, and 2021 were as follows: For the Years Ended December 31, 2023 2022 2021 Operating lease cost $ 58.4 $ 43.8 $ 38.4 Finance lease cost: Amortization of right-of-use assets 1.5 1.9 2.0 Interest on lease liabilities 0.3 0.4 0.5 Total finance lease cost 1.8 2.3 2.5 Variable lease cost 15.3 12.4 10.5 Total lease cost $ 75.5 $ 58.5 $ 51.4 Supplemental balance sheet information at December 31, 2023 and 2022 related to leases was as follows: December 31, 2023 2022 Operating leases: Operating lease right-of-use assets $ 216.8 $ 175.3 Favorable lease interests, net 2.4 0.7 Total operating lease right-of-use assets $ 219.2 $ 176.0 Current operating lease liabilities $ 51.9 $ 43.9 Non-current operating lease liabilities 183.4 147.1 Total operating lease liabilities $ 235.3 $ 191.0 Finance leases: Property, at cost $ 13.4 $ 12.8 Accumulated depreciation and amortization ( 9.8 ) ( 8.6 ) Net property $ 3.6 $ 4.2 Current obligations of finance leases $ 1.9 $ 1.6 Finance leases, net of current obligations 2.8 3.9 Total finance lease liabilities $ 4.7 $ 5.5 Weighted average remaining lease term: Operating leases 5.0 years 5.5 years Finance leases 2.9 years 3.6 years Weighted average discount rate: Operating leases 4.2 % 3.2 % Finance leases 7.4 % 7.3 % Supplemental cash flow and other information for the years ended December 31, 2023, 2022, and 2021 related to leases was as follows: For the Years Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 57.9 $ 42.6 $ 39.0 Operating cash flows from finance leases 0.3 0.4 0.5 Financing cash flows from finance leases 1.8 2.1 2.3 Right-of-use assets obtained in exchange for lease liabilities: Operating leases (A) $ 92.5 $ 82.1 $ 54.7 Finance leases 1.0 1.5 0.4 (A) Includes $ 20.5 million, $ 2.9 million, and $ 15.8 million of operating leases established as a result of our acquisitions during 2023, 2022 and 2021, respectively. See Note 17, “Acquisitions”, for further information. Future minimum lease payments under non-cancellable leases as of December 31, 2023, were as follows: December 31, 2023 Operating Leases Finance Leases Future minimum lease payments 2024 $ 60.5 $ 2.1 2025 55.6 1.6 2026 47.1 0.8 2027 39.3 0.4 2028 27.4 0.3 Thereafter 32.1 0.1 Total future minimum lease payments $ 262.0 $ 5.3 Less: imputed interest ( 26.7 ) ( 0.6 ) Total lease obligation $ 235.3 $ 4.7 Less: current obligations ( 51.9 ) ( 1.9 ) Long-term lease obligation $ 183.4 $ 2.8

Goodwill And Intangible Assets

Goodwill And Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill And Intangible Assets [Abstract]
Goodwill And Intangible Assets	8. GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the years ended December 31 were as follows: 2023 2022 Beginning balance $ 83.1 $ 57.1 Acquisitions and purchase accounting adjustments 95.7 26.5 Foreign currency translation impact 0.2 ( 0.5 ) Ending balance $ 179.0 $ 83.1 As of December 31, 2023, 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 2022 and 2021. Intangible Assets Intangible assets consist of the following: As of December 31, 2023 Asset Life Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 6 to 20 years 15.3 years $ 226.9 $ ( 27.9 ) $ 199.0 Trade name 5 to 20 years 16.9 years 69.8 ( 8.9 ) 60.9 Non-compete agreements 3 to 7 years 5.2 years 2.5 ( 0.7 ) 1.8 Other intangible assets 2.5 to 10 years 3.9 years 0.7 ( 0.5 ) 0.2 Total 15.5 years $ 299.9 $ ( 38.0 ) $ 261.9 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 2.5 to 10 years 3.9 years 0.7 ( 0.2 ) 0.5 Total 14.5 years $ 113.6 $ ( 23.0 ) $ 90.6 We did no t incur impairment losses related to our intangible assets during the years ended December 31, 2023, 2022, and 2021. Amortization expense for intangible assets was $ 15.0 million, $ 6.3 million, and $ 4.3 million for the years ended December 31, 2023, 2022, and 2021, respectively. Estimated future amortization expense related to our intangible assets for the years ending December 31 is as follows: 2024 $ 20.5 2025 20.2 2026 18.7 2027 18.5 2028 18.0 After 2028 166.0 Total $ 261.9

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
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 2023 2022 2021 Domestic $ 591.9 $ 573.6 $ 327.6 Foreign 37.4 35.9 23.3 Income before taxes $ 629.3 $ 609.5 $ 350.9 For the Years Ended December 31, Components of Income Tax Provision 2023 2022 2021 Current expense: U.S. Federal $ 109.7 $ 119.5 $ 77.3 State 29.1 28.8 18.2 Foreign 10.7 10.5 6.5 Total current expense $ 149.5 $ 158.8 $ 102.0 Deferred expense (benefit): U.S. Federal $ 11.9 $ ( 2.1 ) $ ( 10.9 ) State 3.7 ( 0.6 ) ( 3.2 ) Foreign ( 0.2 ) ( 0.3 ) — Total deferred expense (benefit) $ 15.4 $ ( 3.0 ) $ ( 14.1 ) Total income tax provision $ 164.9 $ 155.8 $ 87.9 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, 2023 2022 2021 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal benefit 4.1 3.7 3.3 Other, net 1.1 0.9 0.7 Effective tax rate 26.2 % 25.6 % 25.0 % 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) 2023 2022 Pension $ 23.5 $ 28.9 Operating lease liabilities 58.8 47.2 Postretirement benefits 16.1 16.0 Inventory 25.2 20.1 Payroll accruals 6.1 5.4 Computer software 3.7 — Bad debt reserves 2.0 2.2 Other deferred tax assets 19.0 19.6 Subtotal 154.4 139.4 Less: valuation allowances ( 1.1 ) ( 0.8 ) Deferred tax assets 153.3 138.6 Fixed assets ( 50.6 ) ( 41.4 ) Operating lease right-of-use assets ( 54.1 ) ( 43.2 ) Computer software — ( 0.8 ) Other deferred tax liabilities ( 23.0 ) ( 22.3 ) Deferred tax liabilities ( 127.7 ) ( 107.7 ) Net deferred tax assets $ 25.6 $ 30.9 Deferred income taxes included in non-current assets (liabilities) at December 31 were: 2023 2022 Deferred tax assets included in other non-current assets $ 28.1 $ 33.6 Deferred tax liabilities included in other non-current liabilities ( 2.5 ) ( 2.7 ) Total $ 25.6 $ 30.9 Operating loss and tax credit carryforwards included in net deferred tax assets, all of which expire between 2025 and 2032, at December 31 were: 2023 2022 U.S. Federal $ 1.1 $ 0.8 State 0.1 0.2 We have placed valuation allowances of $ 1.1 million and $ 0.8 million for 2023 and 2022, respectively, relating to federal foreign tax credits that are not expected to be utilized prior to expiration. As of December 31, 2023, 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 2022 and 2023, our GILTI period cost was immaterial in each year. Our federal income tax returns for the tax years 2020 and forward are available for examination by the United States Internal Revenue Service (“IRS”). The statute of limitations for the 2020 federal return will expire on October 15, 2024, unless extended by consent. Our state income tax returns for 2019 through 2023 remain subject to examination by various state authorities with the latest period closing on December 31, 2028. We have not extended the statutes of limitations in any state jurisdictions with respect to years prior to 2019. 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. In 2021, the Organization for Economic Cooperation and Development (“OECD”) introduced a framework, referred to as Pillar Two, creating a 15% global minimum effective tax rate for large multinational corporations. Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions in which the Company operates, effective beginning January 1, 2024. We have performed an analysis of potential exposure to Pillar Two income taxes based on the most recent information available regarding the financial performance of the constituent entities. Based on the initial assessment performed, the Pillar Two effective tax rates in all jurisdictions in which the Company operates are above 15% and management is not currently aware of any circumstances under which this might change. Therefore, we do not expect a material impact for Pillar Two top-up taxes as legislation becomes effective in 2024. Our unrecognized tax benefits of $ 0.4 million, $ 0.5 million, and $ 1.0 million as of December 31, 2023, 2022, and 2021, 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 2023, 2022, and 2021 were as follows: 2023 2022 2021 Balance at January 1, $ 0.5 $ 1.0 $ 1.7 Reductions for tax positions of prior years ( 0.1 ) ( 0.5 ) ( 0.7 ) Balance at December 31, $ 0.4 $ 0.5 $ 1.0 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 in interest and penalties at both December 31, 2023 and 2022. 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, 2023
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, 2023, 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 2023, eligible employees and qualified retirees subscribed for 1,347,781 shares totaling $ 27.0 million. Subscribers elected to make payments under one of the following options: (i) all shares subscribed for on or before January 5, 2024; 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 12, 2024, in the case of shares paid for on or before January 5, 2024. 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 2023 1,016,132 1,010,521 2022 735,641 725,186 2021 794,227 798,166 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, 2023 and 2022. On December 13, 2023, our Board of Directors declared a 20 % common stock dividend. Each shareholder was entitled to one share of common stock for every five shares held as of December 18, 2023. The stock was issued on February 2, 2024. 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, 2023
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 20 % stock dividend declared in 2023, and 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, 2023, 2022, and 2021 was 32,121,723 shares, 31,870,071 shares, and 31,455,629 shares, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt [Abstract]
Debt	12. DEBT December 31, Long-term Debt 2023 2022 Finance arrangements, various maturities, with a weighted average interest rate of 7.4 % $ 4.7 $ 5.5 Less current portion ( 1.9 ) ( 1.6 ) Long-term Debt $ 2.8 $ 3.9 Long-term Debt matures as follows: 2024 $ 1.9 2025 1.5 2026 0.7 2027 0.3 2028 0.3 $ 4.7 The carrying amount of our outstanding long-term, fixed-rate debt exceeded its fair value by $ 0.2 million and $ 0.3 million at December 31, 2023 and 2022, 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, 2023 and 2022, respectively. Revolving Credit Facility At December 31, 2022, 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 “Revolving Credit Facility”), which included 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 Revolving Credit Facility included a $ 100.0 million sublimit (in U.S. or Canadian dollars) available 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 Revolving Credit Facility that included the sublimit amount, then Graybar Canada’s available capacity would be reduced by our use of such amount. The Revolving Credit Facility contained an accordion feature, which allowed us to request increases in the aggregate borrowing commitments of up to $ 375.0 million. On March 29, 2023, we, along with Graybar Canada, amended the Revolving Credit Facility, pursuant to the terms and conditions of a Fifth Amendment to Credit Agreement, dated as of March 29, 2023 (the “Amended Credit Agreement”), by and among Graybar, as parent borrower, Graybar Canada Limited, as a borrower, the lenders party thereto, Bank of America, N.A. as Domestic Administrative Agent, Domestic Swing Line Lender and Domestic L/C Issuer and Bank of America, N.A., acting through its Canada Branch, as Canadian Administrative Agent, Canadian Swing Line Lender and Canadian L/C Issuer. The Amended Credit Agreement replaced the London Interbank Offered Rate (“LIBOR”)-based Eurodollar reference interest rate with a reference interest rate based on Term SOFR and introduced transition language for the Canadian Dealer Offered Rate (“CDOR”), in anticipation of the eventual discontinuation of CDOR, which is expected to be on or before June 28, 2024. Our borrowing availability remains unchanged under the Amended Credit Agreement. 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) term SOFR (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 CDOR fallback language to address the announced future cessation of specified Canadian dollar CDOR 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 SOFR daily floating 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 SOFR 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 and Revolving Credit Facility, respectively, as of December 31, 2023 and 2022. There were no short-term borrowings at December 31, 2023. There were $ 31.6 million in short-term borrowings at December 31, 2022, of which $ 30.0 million were under the Revolving Credit Facility with the remainder attributable to bank overdrafts. Short-term borrowings outstanding during the year ended December 31, 2023 ranged from a minimum of no short-term borrowings to a maximum of $ 232.0 million. 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. The average daily amount of borrowings outstanding under the Amended Credit Agreement during 2023 amounted to approximately $ 62.1 million at weighted-average interest rates of 6.09 %. The average daily amount of borrowings outstanding under the Revolving Credit Facility during 2022 amounted to approximately $ 65.7 million at weighted-average interest rates of 1.98 %. At December 31, 2023, we had available unused committed lines of credit under the Amended Credit Agreement amounting to $ 746.4 million, compared to $ 718.1 million at December 31, 2022 under the Revolving Credit Facility. Interest expense, net was $ 2.7 million, $ 2.0 million, and $ 1.0 million for the years ended December 31, 2023, 2022, and 2021, respectively. Private Placement Shelf Agreements We have an uncommitted, unsecured 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. On July 20, 2023, we amended the Prudential Shelf Agreement to increase the borrowing availability from $ 100.0 million to $ 200.0 million and to extend the issuance period to August 2026 . 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 issuance 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, 2023 and 2022. 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, 2023 and 2022. Letters of Credit We had total letters of credit of $ 9.4 million outstanding at December 31, 2023, of which $ 3.6 million were issued under the Amended Credit Agreement. We had total letters of credit of $ 7.8 million outstanding at December 31, 2022, of which $ 1.9 million were issued under the Revolving Credit Facility. 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, 2023
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 established an employee deferred compensation trust in 2023 to meet funding obligations for nonqualified pension benefits to certain participants in the supplemental benefit plan. The assets of the trust are invested in a money market fund and a U.S. Treasury note. 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, 2023 and 2022. The following table sets forth information regarding the funded status of our pension and other postretirement benefits as of December 31, 2023 and 2022: Pension Benefits Postretirement Benefits 2023 2022 2023 2022 Change in Benefit Obligation: Benefit obligation at beginning of period $ 577.9 $ 841.9 $ 62.3 $ 75.1 Service cost 24.3 26.4 1.4 2.0 Interest cost 31.9 25.5 3.4 2.0 Actuarial loss (gain) 36.8 ( 221.0 ) — ( 12.0 ) Benefits paid from plan assets ( 44.7 ) ( 0.4 ) — — Benefits paid from Company assets ( 3.9 ) ( 2.0 ) ( 4.8 ) ( 5.3 ) Plan participants' contributions — — 0.1 0.5 Administrative expenses paid ( 5.5 ) ( 1.5 ) — — Settlements — ( 91.0 ) — — Benefit Obligation at End of Period 616.8 577.9 62.4 62.3 Change in Plan Assets: Fair value of plan assets at beginning of period 433.1 680.7 — — Actual return on plan assets 25.3 ( 197.5 ) — — Employer contributions (A) 103.9 44.8 4.7 4.8 Plan participants' contributions — — 0.1 0.5 Benefits paid (A) ( 48.6 ) ( 2.4 ) ( 4.8 ) ( 5.3 ) Administrative expenses paid ( 5.5 ) ( 1.5 ) — — Settlements — ( 91.0 ) — — Fair Value of Plan Assets at End of Period 508.2 433.1 — — Unfunded Status $ 108.6 $ 144.8 $ 62.4 $ 62.3 (A) Includes $ 3.9 million and $ 2.0 million paid from our assets for unfunded nonqualified pension benefits in fiscal years 2023 and 2022, respectively. The accumulated benefit obligation for our Pension Plan was $ 572.2 million and $ 536.7 million at December 31, 2023 and 2022, respectively. Amounts recognized in the consolidated balance sheet for the years ended December 31 consist of the following: Pension Benefits Postretirement Benefits 2023 2022 2023 2022 Current accrued benefit cost $ 1.3 $ 4.0 $ 6.5 $ 6.8 Non-current accrued benefit cost 107.3 140.8 55.9 55.5 Net amount recognized $ 108.6 $ 144.8 $ 62.4 $ 62.3 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 2023 2022 2023 2022 Net actuarial loss $ 167.2 $ 138.1 $ — $ — Prior service cost — — 0.1 0.1 Accumulated other comprehensive loss $ 167.2 $ 138.1 $ 0.1 $ 0.1 The actuarial loss for the Pension Plan in 2023 was primarily due to decreases in the discount rate compared to 2022 and due to plan experience. 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 compared to 2021. 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 2023 2022 2023 2022 Discount rate 5.17 % 5.55 % 5.31 % 5.70 % Rate of compensation increase 4.14 % 4.28 % — — Healthcare cost trend on covered charges — — 5.00 % 5.00 % The net periodic benefit cost for the years ended December 31, 2023, 2022, and 2021 included the following components: Pension Benefits Postretirement Benefits Components of Net Periodic Benefit Cost 2023 2022 2021 2023 2022 2021 Selling, general and administrative expenses: Service cost $ 24.3 $ 26.4 $ 30.2 $ 1.4 $ 2.0 $ 2.2 Total selling, general and administrative expenses $ 24.3 $ 26.4 $ 30.2 $ 1.4 $ 2.0 $ 2.2 Non-operating expenses, net: Interest cost 31.9 25.5 23.9 3.4 2.0 1.7 Expected return on plan assets ( 28.9 ) ( 30.2 ) ( 30.6 ) — — — Amortization of: Net actuarial loss 1.1 17.4 32.3 — 0.6 0.8 Settlement charge — 27.0 30.4 — — — Total non-operating expenses, net $ 4.1 $ 39.7 $ 56.0 $ 3.4 $ 2.6 $ 2.5 Net periodic benefit cost $ 28.4 $ 66.1 $ 86.2 $ 4.8 $ 4.6 $ 4.7 During 2022, 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, and $ 30.4 million in non-operating expenses, net on our consolidated statements of income for the years ended December 31, 2022 and 2021, 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. We did not record a non-cash pension settlement charge for the year ended December 31, 2023. Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 were: Pension Benefits Postretirement Benefits 2023 2022 2021 2023 2022 2021 Discount rate 5.55 % 2.86 % / 4.83 % 2.62 % / 2.72 % 5.70 % 2.71 % 2.22 % Expected return on plan assets 5.25 % 5.00 % 5.00 % — — — Rate of compensation increase 4.14 % 4.21 % 4.32 % — — — Healthcare cost trend on covered charges — — — 5.00 % 5.00 % 5.00 % A discount rate of 5.55 % was used as of January 1, 2023 to determine the net periodic benefit cost for the Pension Plan. 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. 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 2023. The rate was assumed to remain at 5.00 % in 2024 and to remain at that level thereafter. We expect to fund $ 1.1 million for nonqualified pension benefits during 2024. Pension contributions are expected to be $ 40.0 million in 2024; 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 2024 $ 50.0 $ 6.7 2025 49.8 7.0 2026 51.7 7.4 2027 52.4 7.4 2028 54.3 7.4 2029-2033 268.0 31.7 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 U.S. Bank National Association (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, 2023 and 2022 is as follows: Investment 2023 Actual Allocation 2023 Target Allocation Range 2022 Actual Allocation 2022 Target Allocation Range Equity securities - U.S. 6 % 3 - 10 % 7 % 3 - 10 % Equity securities - International 5 % 2 - 10 % 5 % 2 - 10 % Fixed income investments 52 % 40 - 80 % 46 % 40 - 80 % Hedge funds 1 % 2 - 8 % 6 % 2 - 8 % Real assets 6 % 2 - 10 % 5 % 2 - 10 % Private equity 8 % 2 - 8 % 8 % 2 - 8 % Other investments 4 % 0 - 8 % 4 % 0 - 8 % Short-term investments 18 % 1 - 10 % 19 % 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 publicly traded U.S. equity mutual funds. U.S. equity mutual funds are primarily large-capitalization stocks (defined as companies with market capitalization of more than $10 billion). U.S. 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. Equity securities – International Equity securities - International consist of investments in an international publicly traded mutual fund and a collective investment trust, and are primarily investments within developed and emerging markets. The publicly traded mutual fund is 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 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. 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 various market and industry inputs and may include, but are not limited to, interest rates, yield curves, and credit spreads. 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, 2023 or 2022. The following tables set forth, by level within the fair value hierarchy, the Pension Plan assets measured at fair value as of December 31, 2023 and 2022: December 31, 2023 Investment Investments Measured at NAV Level 1 Level 2 Level 3 Total Equity securities - U.S. $ — $ 30.1 $ — $ — $ 30.1 Equity securities - International 20.0 5.1 — — 25.1 Fixed income investments 12.9 — 252.1 — 265.0 Hedge funds 7.5 — — — 7.5 Real assets 14.9 13.1 — — 28.0 Private equity 17.6 — — 22.2 39.8 Other investments 8.1 — — 11.4 19.5 Short-term investments 93.2 — — — 93.2 Total $ 174.2 $ 48.3 $ 252.1 $ 33.6 $ 508.2 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 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, 2023 and 2022: December 31, 2023 Private Equity Other Investments Total Balance, beginning of year $ 23.6 $ 11.4 $ 35.0 Realized gains 0.2 — 0.2 Unrealized (losses) gains ( 0.7 ) 1.3 0.6 Purchases 0.1 — 0.1 Sales ( 1.0 ) ( 1.3 ) ( 2.3 ) Balance, end of year $ 22.2 $ 11.4 $ 33.6 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

Profit Sharing And Savings Plan

Profit Sharing And Savings Plan	12 Months Ended
	Dec. 31, 2023
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 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 under the Plan recognized by us was $ 7.2 million, $ 5.9 million, and $ 4.5 million for the years ended December 31, 2023, 2022 and 2021, 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 $ 56.2 million, $ 78.7 million, and $ 71.3 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments And Contingencies [Abstract]
Commitments And Contingencies	15. COMMITMENTS AND CONTINGENCIES 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, 2023, Graybar had $ 2.3 million and $ 38.4 million of insurance receivables recorded in other current assets and other non-current assets, respectively, and $ 2.3 million and $ 38.4 million recorded in other current liabilities and other non-current liabilities, respectively, related to our asbestos litigation defense and claims settlement reserve. 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, 2023
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: 2023 2022 Currency translation $ ( 10.6 ) $ ( 14.6 ) Pension liability ( 167.2 ) ( 138.1 ) Postretirement benefits liability ( 0.1 ) ( 0.1 ) Accumulated other comprehensive loss $ ( 177.9 ) $ ( 152.8 ) 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, 2023 and 2022: 2023 2022 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, net (A) $ 1.1 $ 45.0 Tax benefit ( 0.3 ) ( 11.6 ) Total reclassifications for the period, net of tax $ 0.8 $ 33.4 (A) Includes a pension settlement charge of $ 27.0 million in 2022. The following table represents the activity included in accumulated other comprehensive loss for the years ended December 31, 2023 and 2022: 2023 2022 Foreign Currency Pension and Other Postretirement Benefits Total Foreign Currency Pension and Other Postretirement Benefits Total Beginning balance January 1, $ ( 14.6 ) $ ( 138.2 ) $ ( 152.8 ) $ ( 5.0 ) $ ( 175.5 ) $ ( 180.5 ) Other comprehensive income (loss) before reclassifications 4.0 — 4.0 ( 9.6 ) — ( 9.6 ) Amounts reclassified from accumulated other comprehensive loss (net of tax $( 0.3 ) and $( 11.6 )) — 0.8 0.8 — 33.4 33.4 Actuarial (loss) gain, (net of tax $ 10.4 and $( 1.4 )) — ( 29.9 ) ( 29.9 ) — 3.9 3.9 Net current-period other comprehensive income (loss) 4.0 ( 29.1 ) ( 25.1 ) ( 9.6 ) 37.3 27.7 Ending balance December 31, $ ( 10.6 ) $ ( 167.3 ) $ ( 177.9 ) $ ( 14.6 ) $ ( 138.2 ) $ ( 152.8 )

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2023
Acquisitions [Abstract]
Acquisitions	17. ACQUISITIONS In 2023, we completed two acquisitions for a combined preliminary purchase price of $ 378.8 million in cash, net of cash acquired. The acquisitions were financed using cash on hand and short-term borrowings. The following table sets forth the preliminary purchase price allocation and summarizes the estimated fair values of the assets acquired and liabilities assumed for the acquisitions. The purchase price allocation is preliminary pending finalization of the calculations of the fair values of the assets acquired and liabilities assumed, and the valuations of the acquired identifiable intangible assets. Fair Value Current Assets $ 153.6 Property 5.0 Goodwill 95.6 Intangible Assets 186.1 Other Non-current Assets 2.9 Current Liabilities ( 64.4 ) Total combined preliminary purchase price $ 378.8 The fully tax-deductible goodwill resulting from the acquisitions largely consists of our expected future product sales and synergies from combining the newly acquired subsidiaries’ products and services with our existing product and service offerings. The following table sets forth the components of preliminary identifiable intangible assets acquired and their useful lives : Weighted Average Life (in years) Fair Value Customer relationships 16.5 $ 148.3 Tradename 15.0 36.6 Non-Compete Agreements 5.0 1.2 Total Intangible Assets 16.2 $ 186.1 The fair values of the identified customer relationships and trade name intangible assets were estimated using the multi-period excess earnings and relief-from-royalty methods, respectively. Significant inputs used to value these identifiable intangible assets included projected revenues and expected operating margins, customer attrition rates, discount rates, and royalty rates. Since the respective dates of the acquisitions, the results of the newly acquired subsidiaries are reflected in our consolidated financial statements, which consisted of approximately $ 301.5 million in revenue and $ 4.0 million in income from operations. Pro forma results of the acquisitions were not material; therefore, they are not presented . In 2022, we completed acquisitions for a combined purchase price of $ 83.8 million in cash, net of cash acquired. The combined purchase price allocation resulted in $ 12.8 million and $ 27.4 million of tax-deductible goodwill and other intangible assets, respectively, and $ 12.4 million and $ 5.3 million of nondeductible goodwill and other intangible assets, respectively. In 2021, we completed acquisitions for a combined purchase price of $ 89.7 million in cash, net of cash acquired. The combined purchase price allocation resulted in $ 20.9 million and $ 32.1 million of tax-deductible goodwill and other intangible assets, respectively. The acquisition s above present a strategic opportunity for us to expand our reach in current geographies and provide a solid foundation for growth into new adjacent product lines and services.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2023
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, 2023 and 2022: 2023 For the Quarter Ended March 31, June 30, September 30, December 31, Net sales $ 2,672.6 $ 2,792.1 $ 2,852.6 $ 2,725.1 Gross margin 546.9 560.9 568.9 547.1 Net income attributable to the Company 124.8 124.2 117.7 96.7 Net income attributable to the Company per share of common stock (A) $ 3.87 $ 3.86 $ 3.67 $ 3.02 (A) All periods adjusted for a 20 % stock dividend declared in December 2023. Prior to these adjustments, the average common shares outstanding for the first, second, third, and fourth quarters of 2023 were 26,891,485 shares, 26,798,704 shares, 26,741,319 shares, and 26,680,115 shares, respectively. 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) $ 3.20 $ 4.00 $ 3.96 $ 3.05 (A) All periods adjusted for a 20 % stock dividend declared in December 2023 and 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.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2023
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.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year’s financial information to conform to the December 31, 2023 presentation. These changes consisted of disaggregating other non-current assets into separate captions and reclassifying between other non-current assets and operating lease right-of-use assets within the December 31, 2022 consolidated balance sheet. The reclassifications had no effect on total assets or liabilities as of December 21, 2022.
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 $ 102.0 million, $ 101.0 million, and $ 78.9 million for the years ended December 31, 2023, 2022, and 2021, 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 is comprised entirely of finished goods. Most of our inventory 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. Our remaining inventory is stated at the lower of cost or market determined using average cost. 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 2.5 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 unable to reach the ‘more likely than not’ standard, 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 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". We classify interest expense and penalties associated with taxes and uncertain tax positions as part of our provision for income taxes based upon applicable federal and state interest/underpayment percentages.
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.
Employee Deferred Compensation Trust	Employee Deferred Compensation Trust We have an employee deferred compensation trust to meet funding obligations for nonqualified pension benefits to certain participants in the supplemental benefit plan. Assets in the trust are classified as other non-current assets in the consolidated balance sheet. Earnings and losses on investments in the employee deferred compensation trust are reported in non-operating expenses, net in the consolidated statements of income.
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, Net	Non-operating Expenses, net Non-operating expenses, net are comprised of interest expense, net, earnings and losses on investments, which consists of highly liquid money market funds and a U.S. Treasury note, 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 December 2022, the FASB issued Accounting Standards Update (“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. We have transitioned to the Secured Overnight Financing Rate (“SOFR”) as our reference rate effective March 29, 2023, as described in Note 12, “Debt”. The adoption of this Update did not have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” which requires public entities to provide enhanced disclosures of significant segment expenses and other segment items. Public entities with a single reportable segment must provide all the disclosures required by Topic 280, including the significant segment expense disclosures. The guidance requires public entities to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The guidance applies to all public entities and is effective for fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The guidance shall be applied retrospectively to all periods presented in the financial statements. We are currently evaluating the impact of adopting the Update to our required disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” which is intended to enhance the transparency and decision usefulness of income tax disclosures. The guidance addresses investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and shall be applied on a prospective basis. We are currently evaluating the impact of this Update on our consolidated financial statements and expect considerable expansion of our income tax footnote disclosures.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue [Abstract]
Disaggregation of Revenue	For the Years Ended December 31, 2023 2022 2021 Construction 58.4 % 56.8 % 58.5 % CIG 23.3 26.0 25.5 Industrial & Utility 18.3 17.2 16.0 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, 2023
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, 2023 Allowance for cash discounts $ 3.6 $ 51.7 $ ( 51.7 ) $ 3.6 Allowance for credit losses 9.8 6.2 ( 6.0 ) 10.0 Total $ 13.4 $ 57.9 $ ( 57.7 ) $ 13.6 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

Property And Depreciation (Tabl

Property And Depreciation (Tables)	12 Months Ended
	Dec. 31, 2023
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 useful 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 useful life or the lease term

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule Of Lease Expense	For the Years Ended December 31, 2023 2022 2021 Operating lease cost $ 58.4 $ 43.8 $ 38.4 Finance lease cost: Amortization of right-of-use assets 1.5 1.9 2.0 Interest on lease liabilities 0.3 0.4 0.5 Total finance lease cost 1.8 2.3 2.5 Variable lease cost 15.3 12.4 10.5 Total lease cost $ 75.5 $ 58.5 $ 51.4
Schedule Of Supplemental Balance Sheet Information	December 31, 2023 2022 Operating leases: Operating lease right-of-use assets $ 216.8 $ 175.3 Favorable lease interests, net 2.4 0.7 Total operating lease right-of-use assets $ 219.2 $ 176.0 Current operating lease liabilities $ 51.9 $ 43.9 Non-current operating lease liabilities 183.4 147.1 Total operating lease liabilities $ 235.3 $ 191.0 Finance leases: Property, at cost $ 13.4 $ 12.8 Accumulated depreciation and amortization ( 9.8 ) ( 8.6 ) Net property $ 3.6 $ 4.2 Current obligations of finance leases $ 1.9 $ 1.6 Finance leases, net of current obligations 2.8 3.9 Total finance lease liabilities $ 4.7 $ 5.5 Weighted average remaining lease term: Operating leases 5.0 years 5.5 years Finance leases 2.9 years 3.6 years Weighted average discount rate: Operating leases 4.2 % 3.2 % Finance leases 7.4 % 7.3 %
Schedule Of Supplemental Cash Flow And Other Information	Supplemental cash flow and other information for the years ended December 31, 2023, 2022, and 2021 related to leases was as follows: For the Years Ended December 31, 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 57.9 $ 42.6 $ 39.0 Operating cash flows from finance leases 0.3 0.4 0.5 Financing cash flows from finance leases 1.8 2.1 2.3 Right-of-use assets obtained in exchange for lease liabilities: Operating leases (A) $ 92.5 $ 82.1 $ 54.7 Finance leases 1.0 1.5 0.4 (A) Includes $ 20.5 million, $ 2.9 million, and $ 15.8 million of operating leases established as a result of our acquisitions during 2023, 2022 and 2021, respectively. See Note 17, “Acquisitions”, for further information.
Schedule Of Maturity Of Lease Liabilities	December 31, 2023 Operating Leases Finance Leases Future minimum lease payments 2024 $ 60.5 $ 2.1 2025 55.6 1.6 2026 47.1 0.8 2027 39.3 0.4 2028 27.4 0.3 Thereafter 32.1 0.1 Total future minimum lease payments $ 262.0 $ 5.3 Less: imputed interest ( 26.7 ) ( 0.6 ) Total lease obligation $ 235.3 $ 4.7 Less: current obligations ( 51.9 ) ( 1.9 ) Long-term lease obligation $ 183.4 $ 2.8

Goodwill And Intangible Assets

Goodwill And Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill And Intangible Assets [Abstract]
Schedule of Goodwill	2023 2022 Beginning balance $ 83.1 $ 57.1 Acquisitions and purchase accounting adjustments 95.7 26.5 Foreign currency translation impact 0.2 ( 0.5 ) Ending balance $ 179.0 $ 83.1
Schedule of Finite-Lived Intangible Assets	As of December 31, 2023 Asset Life Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 6 to 20 years 15.3 years $ 226.9 $ ( 27.9 ) $ 199.0 Trade name 5 to 20 years 16.9 years 69.8 ( 8.9 ) 60.9 Non-compete agreements 3 to 7 years 5.2 years 2.5 ( 0.7 ) 1.8 Other intangible assets 2.5 to 10 years 3.9 years 0.7 ( 0.5 ) 0.2 Total 15.5 years $ 299.9 $ ( 38.0 ) $ 261.9 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 2.5 to 10 years 3.9 years 0.7 ( 0.2 ) 0.5 Total 14.5 years $ 113.6 $ ( 23.0 ) $ 90.6
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	2024 $ 20.5 2025 20.2 2026 18.7 2027 18.5 2028 18.0 After 2028 166.0 Total $ 261.9

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes [Abstract]
Schedule Of Income Before Income Tax, Domestic And Foreign	For the Years Ended December 31, Components of Income before Taxes 2023 2022 2021 Domestic $ 591.9 $ 573.6 $ 327.6 Foreign 37.4 35.9 23.3 Income before taxes $ 629.3 $ 609.5 $ 350.9
Schedule Of Components Of Income Tax Expense Benefit	For the Years Ended December 31, Components of Income Tax Provision 2023 2022 2021 Current expense: U.S. Federal $ 109.7 $ 119.5 $ 77.3 State 29.1 28.8 18.2 Foreign 10.7 10.5 6.5 Total current expense $ 149.5 $ 158.8 $ 102.0 Deferred expense (benefit): U.S. Federal $ 11.9 $ ( 2.1 ) $ ( 10.9 ) State 3.7 ( 0.6 ) ( 3.2 ) Foreign ( 0.2 ) ( 0.3 ) — Total deferred expense (benefit) $ 15.4 $ ( 3.0 ) $ ( 14.1 ) Total income tax provision $ 164.9 $ 155.8 $ 87.9
Schedule Of Effective Income Tax Rate Reconciliation	For the Years Ended December 31, 2023 2022 2021 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal benefit 4.1 3.7 3.3 Other, net 1.1 0.9 0.7 Effective tax rate 26.2 % 25.6 % 25.0 %
Schedule Of Deferred Tax Assets And Liabilities	Assets (Liabilities) 2023 2022 Pension $ 23.5 $ 28.9 Operating lease liabilities 58.8 47.2 Postretirement benefits 16.1 16.0 Inventory 25.2 20.1 Payroll accruals 6.1 5.4 Computer software 3.7 — Bad debt reserves 2.0 2.2 Other deferred tax assets 19.0 19.6 Subtotal 154.4 139.4 Less: valuation allowances ( 1.1 ) ( 0.8 ) Deferred tax assets 153.3 138.6 Fixed assets ( 50.6 ) ( 41.4 ) Operating lease right-of-use assets ( 54.1 ) ( 43.2 ) Computer software — ( 0.8 ) Other deferred tax liabilities ( 23.0 ) ( 22.3 ) Deferred tax liabilities ( 127.7 ) ( 107.7 ) Net deferred tax assets $ 25.6 $ 30.9 Deferred income taxes included in non-current assets (liabilities) at December 31 were: 2023 2022 Deferred tax assets included in other non-current assets $ 28.1 $ 33.6 Deferred tax liabilities included in other non-current liabilities ( 2.5 ) ( 2.7 ) Total $ 25.6 $ 30.9
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: 2023 2022 U.S. Federal $ 1.1 $ 0.8 State 0.1 0.2
Schedule Of Unrecognized Tax Benefits Roll Forward	2023 2022 2021 Balance at January 1, $ 0.5 $ 1.0 $ 1.7 Reductions for tax positions of prior years ( 0.1 ) ( 0.5 ) ( 0.7 ) Balance at December 31, $ 0.4 $ 0.5 $ 1.0

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Dec. 31, 2023
Capital Stock [Abstract]
Schedule of Common Stock Shares Purchased and Retired	Shares of Common Stock Purchased Retired 2023 1,016,132 1,010,521 2022 735,641 725,186 2021 794,227 798,166

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt [Abstract]
Schedule Of Long-term Debt	December 31, Long-term Debt 2023 2022 Finance arrangements, various maturities, with a weighted average interest rate of 7.4 % $ 4.7 $ 5.5 Less current portion ( 1.9 ) ( 1.6 ) Long-term Debt $ 2.8 $ 3.9
Schedule Of Long-term Debt Maturities	Long-term Debt matures as follows: 2024 $ 1.9 2025 1.5 2026 0.7 2027 0.3 2028 0.3 $ 4.7

Pension And Other Postretirem_2

Pension And Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Pension And Other Postretirement Benefits [Abstract]
Schedule Of Net Funded Status	Pension Benefits Postretirement Benefits 2023 2022 2023 2022 Change in Benefit Obligation: Benefit obligation at beginning of period $ 577.9 $ 841.9 $ 62.3 $ 75.1 Service cost 24.3 26.4 1.4 2.0 Interest cost 31.9 25.5 3.4 2.0 Actuarial loss (gain) 36.8 ( 221.0 ) — ( 12.0 ) Benefits paid from plan assets ( 44.7 ) ( 0.4 ) — — Benefits paid from Company assets ( 3.9 ) ( 2.0 ) ( 4.8 ) ( 5.3 ) Plan participants' contributions — — 0.1 0.5 Administrative expenses paid ( 5.5 ) ( 1.5 ) — — Settlements — ( 91.0 ) — — Benefit Obligation at End of Period 616.8 577.9 62.4 62.3 Change in Plan Assets: Fair value of plan assets at beginning of period 433.1 680.7 — — Actual return on plan assets 25.3 ( 197.5 ) — — Employer contributions (A) 103.9 44.8 4.7 4.8 Plan participants' contributions — — 0.1 0.5 Benefits paid (A) ( 48.6 ) ( 2.4 ) ( 4.8 ) ( 5.3 ) Administrative expenses paid ( 5.5 ) ( 1.5 ) — — Settlements — ( 91.0 ) — — Fair Value of Plan Assets at End of Period 508.2 433.1 — — Unfunded Status $ 108.6 $ 144.8 $ 62.4 $ 62.3 (A) Includes $ 3.9 million and $ 2.0 million paid from our assets for unfunded nonqualified pension benefits in fiscal years 2023 and 2022, respectively.
Schedule Of Amounts Recognized In Balance Sheet	Pension Benefits Postretirement Benefits 2023 2022 2023 2022 Current accrued benefit cost $ 1.3 $ 4.0 $ 6.5 $ 6.8 Non-current accrued benefit cost 107.3 140.8 55.9 55.5 Net amount recognized $ 108.6 $ 144.8 $ 62.4 $ 62.3
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income (Loss)	Pension Benefits Postretirement Benefits 2023 2022 2023 2022 Net actuarial loss $ 167.2 $ 138.1 $ — $ — Prior service cost — — 0.1 0.1 Accumulated other comprehensive loss $ 167.2 $ 138.1 $ 0.1 $ 0.1
Schedule Of Assumptions Used	Pension Benefits Postretirement Benefits 2023 2022 2023 2022 Discount rate 5.17 % 5.55 % 5.31 % 5.70 % Rate of compensation increase 4.14 % 4.28 % — — 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, 2023, 2022, and 2021 included the following components: Pension Benefits Postretirement Benefits Components of Net Periodic Benefit Cost 2023 2022 2021 2023 2022 2021 Selling, general and administrative expenses: Service cost $ 24.3 $ 26.4 $ 30.2 $ 1.4 $ 2.0 $ 2.2 Total selling, general and administrative expenses $ 24.3 $ 26.4 $ 30.2 $ 1.4 $ 2.0 $ 2.2 Non-operating expenses, net: Interest cost 31.9 25.5 23.9 3.4 2.0 1.7 Expected return on plan assets ( 28.9 ) ( 30.2 ) ( 30.6 ) — — — Amortization of: Net actuarial loss 1.1 17.4 32.3 — 0.6 0.8 Settlement charge — 27.0 30.4 — — — Total non-operating expenses, net $ 4.1 $ 39.7 $ 56.0 $ 3.4 $ 2.6 $ 2.5 Net periodic benefit cost $ 28.4 $ 66.1 $ 86.2 $ 4.8 $ 4.6 $ 4.7 During 2022, 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, and $ 30.4 million in non-operating expenses, net on our consolidated statements of income for the years ended December 31, 2022 and 2021, 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. We did not record a non-cash pension settlement charge for the year ended December 31, 2023. Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 were: Pension Benefits Postretirement Benefits 2023 2022 2021 2023 2022 2021 Discount rate 5.55 % 2.86 % / 4.83 % 2.62 % / 2.72 % 5.70 % 2.71 % 2.22 % Expected return on plan assets 5.25 % 5.00 % 5.00 % — — — Rate of compensation increase 4.14 % 4.21 % 4.32 % — — — Healthcare cost trend on covered charges — — — 5.00 % 5.00 % 5.00 %
Schedule Of Expected Benefit Payments	Year Pension Benefits Postretirement Benefits 2024 $ 50.0 $ 6.7 2025 49.8 7.0 2026 51.7 7.4 2027 52.4 7.4 2028 54.3 7.4 2029-2033 268.0 31.7
Schedule Of Allocation Of Plan Assets	Investment 2023 Actual Allocation 2023 Target Allocation Range 2022 Actual Allocation 2022 Target Allocation Range Equity securities - U.S. 6 % 3 - 10 % 7 % 3 - 10 % Equity securities - International 5 % 2 - 10 % 5 % 2 - 10 % Fixed income investments 52 % 40 - 80 % 46 % 40 - 80 % Hedge funds 1 % 2 - 8 % 6 % 2 - 8 % Real assets 6 % 2 - 10 % 5 % 2 - 10 % Private equity 8 % 2 - 8 % 8 % 2 - 8 % Other investments 4 % 0 - 8 % 4 % 0 - 8 % Short-term investments 18 % 1 - 10 % 19 % 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, 2023 and 2022: December 31, 2023 Investment Investments Measured at NAV Level 1 Level 2 Level 3 Total Equity securities - U.S. $ — $ 30.1 $ — $ — $ 30.1 Equity securities - International 20.0 5.1 — — 25.1 Fixed income investments 12.9 — 252.1 — 265.0 Hedge funds 7.5 — — — 7.5 Real assets 14.9 13.1 — — 28.0 Private equity 17.6 — — 22.2 39.8 Other investments 8.1 — — 11.4 19.5 Short-term investments 93.2 — — — 93.2 Total $ 174.2 $ 48.3 $ 252.1 $ 33.6 $ 508.2 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 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, 2023 and 2022: December 31, 2023 Private Equity Other Investments Total Balance, beginning of year $ 23.6 $ 11.4 $ 35.0 Realized gains 0.2 — 0.2 Unrealized (losses) gains ( 0.7 ) 1.3 0.6 Purchases 0.1 — 0.1 Sales ( 1.0 ) ( 1.3 ) ( 2.3 ) Balance, end of year $ 22.2 $ 11.4 $ 33.6 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

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	2023 2022 Currency translation $ ( 10.6 ) $ ( 14.6 ) Pension liability ( 167.2 ) ( 138.1 ) Postretirement benefits liability ( 0.1 ) ( 0.1 ) Accumulated other comprehensive loss $ ( 177.9 ) $ ( 152.8 )
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, 2023 and 2022: 2023 2022 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, net (A) $ 1.1 $ 45.0 Tax benefit ( 0.3 ) ( 11.6 ) Total reclassifications for the period, net of tax $ 0.8 $ 33.4 (A) Includes a pension settlement charge of $ 27.0 million in 2022.
Changes In Accumulated Other Comprehensive Income (Loss)	2023 2022 Foreign Currency Pension and Other Postretirement Benefits Total Foreign Currency Pension and Other Postretirement Benefits Total Beginning balance January 1, $ ( 14.6 ) $ ( 138.2 ) $ ( 152.8 ) $ ( 5.0 ) $ ( 175.5 ) $ ( 180.5 ) Other comprehensive income (loss) before reclassifications 4.0 — 4.0 ( 9.6 ) — ( 9.6 ) Amounts reclassified from accumulated other comprehensive loss (net of tax $( 0.3 ) and $( 11.6 )) — 0.8 0.8 — 33.4 33.4 Actuarial (loss) gain, (net of tax $ 10.4 and $( 1.4 )) — ( 29.9 ) ( 29.9 ) — 3.9 3.9 Net current-period other comprehensive income (loss) 4.0 ( 29.1 ) ( 25.1 ) ( 9.6 ) 37.3 27.7 Ending balance December 31, $ ( 10.6 ) $ ( 167.3 ) $ ( 177.9 ) $ ( 14.6 ) $ ( 138.2 ) $ ( 152.8 )

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2023
Acquisitions [Abstract]
Estimated Fair Values of Assets Acquired and Liabilities Assumed	Fair Value Current Assets $ 153.6 Property 5.0 Goodwill 95.6 Intangible Assets 186.1 Other Non-current Assets 2.9 Current Liabilities ( 64.4 ) Total combined preliminary purchase price $ 378.8
Components of Preliminary Identifiable Intangible Assets Acquired and Useful Lives	Weighted Average Life (in years) Fair Value Customer relationships 16.5 $ 148.3 Tradename 15.0 36.6 Non-Compete Agreements 5.0 1.2 Total Intangible Assets 16.2 $ 186.1

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information (Unaudited) [Abstract]
Schedule of Quarterly Financial Information (Unaudited)	2023 For the Quarter Ended March 31, June 30, September 30, December 31, Net sales $ 2,672.6 $ 2,792.1 $ 2,852.6 $ 2,725.1 Gross margin 546.9 560.9 568.9 547.1 Net income attributable to the Company 124.8 124.2 117.7 96.7 Net income attributable to the Company per share of common stock (A) $ 3.87 $ 3.86 $ 3.67 $ 3.02 (A) All periods adjusted for a 20 % stock dividend declared in December 2023. Prior to these adjustments, the average common shares outstanding for the first, second, third, and fourth quarters of 2023 were 26,891,485 shares, 26,798,704 shares, 26,741,319 shares, and 26,680,115 shares, respectively. 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) $ 3.20 $ 4.00 $ 3.96 $ 3.05 (A) All periods adjusted for a 20 % stock dividend declared in December 2023 and 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.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 01, 2024
Significant Accounting Policies Disclosure [Line Items]
Outgoing freight expenses	$ 102	$ 101	$ 78.9
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
Subsequent Event [Member] | Business Acquired March 1, 2024 [Member]
Significant Accounting Policies Disclosure [Line Items]
Percentage of interest acquired				100%
Minimum [Member]
Significant Accounting Policies Disclosure [Line Items]
Amortization period	2 years 6 months
Maximum [Member]
Significant Accounting Policies Disclosure [Line Items]
Amortization period	20 years
Freight Expenses As Selling, General And Administrative Expenses [Member] | Outgoing Freight Expenses [Member] | Professional Services, General Contracting Services, And Storage Services [Member]
Significant Accounting Policies Disclosure [Line Items]
Concentration Risk, Percentage	95%

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenue [Abstract]
Contract assets, contract liabilities, or deferred contract costs recorded	$ 0	$ 0

Revenue (Disaggregation Of Reve

Revenue (Disaggregation Of Revenue) (Details) - Product Concentration Risk [Member] - Revenue from Contract with Customer [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total net sales	100%	100%	100%
Construction [Member]
Disaggregation of Revenue [Line Items]
Total net sales	58.40%	56.80%	58.50%
CIG [Member]
Disaggregation of Revenue [Line Items]
Total net sales	23.30%	26%	25.50%
Industrial & Utility [Member]
Disaggregation of Revenue [Line Items]
Total net sales	18.30%	17.20%	16%

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	$ 13.4	$ 9.1	$ 6.9
Provision (Charged to Expense)	57.9	56.3	46.2
Deductions	(57.7)	(52)	(44)
Ending Balance	13.6	13.4	9.1
Allowance for Cash Discounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	3.6	3.8	2.9
Provision (Charged to Expense)	51.7	47.4	44.3
Deductions	(51.7)	(47.6)	(43.4)
Ending Balance	3.6	3.6	3.8
Allowance for Doubtful Accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance	9.8	5.3	4
Provision (Charged to Expense)	6.2	8.9	1.9
Deductions	(6)	(4.4)	(0.6)
Ending Balance	$ 10	$ 9.8	$ 5.3

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Percentage of LIFO Inventory	80%	85%
Excess of Replacement or Current Costs over Stated LIFO Value	$ 453,300,000	$ 492,800,000
Inventory, LIFO Reserve, Effect on Income, Net	5,200,000	0	$ 0
Inventory Valuation Reserves	23,700,000	17,900,000
Inventory Valuation Reserve [Member]
Inventory [Line Items]
Reserves for Obsolete Inventories, Period Increase (Decrease)	$ 5,800,000	$ 3,900,000	$ 5,400,000

Property And Depreciation (Narr

Property And Depreciation (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation	$ 43,100,000	$ 37,600,000	$ 36,200,000
Net book value of sold assets held for sale	0	0	400,000
Gain on sale of assets held for sale			$ 9,100,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other Operating Income (Expense), Net
Capitalized Computer Software, Additions	11,900,000	2,100,000
Impairment, Long-Lived Asset, Held-for-Use	0	0	$ 0
Held-for-sale [Member]
Property, Plant and Equipment [Line Items]
Net book value of assets held for sale	$ 6,700,000	$ 6,700,000

Property And Depreciation (Sche

Property And Depreciation (Schedule Of Property And Depreciation) (Details)	Dec. 31, 2023
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated useful asset life	42 years
Furniture, Fixtures & Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful asset life	3 years
Furniture, Fixtures & Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful asset life	14 years

Leases (Narrative) (Details)

Leases (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating and finance lease, option to extend	1 year
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease terms	1 year
Finance lease, remaining lease terms	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 58.4	$ 43.8	$ 38.4
Amortization of right-of-use assets	1.5	1.9	2
Interest on lease liabilities	0.3	0.4	0.5
Total finance lease cost	1.8	2.3	2.5
Variable lease cost	15.3	12.4	10.5
Total lease cost	$ 75.5	$ 58.5	$ 51.4

Leases (Schedule Of Supplementa

Leases (Schedule Of Supplemental Balance Sheet Information) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 216.8	$ 175.3
Favorable lease interests, net	2.4	0.7
Total operating lease right-of-use assets	219.2	176
Current operating lease liabilities	51.9	43.9
Non-current operating lease liabilities	183.4	147.1
Total operating lease liabilities	235.3	191
Property, at cost	13.4	12.8
Accumulated depreciation and amortization	(9.8)	(8.6)
Net property	3.6	4.2
Current obligations of finance leases	1.9	1.6
Finance leases, net of current obligations	2.8	3.9
Total finance lease liabilities	$ 4.7	$ 5.5
Weighted average remaining lease term, Operating leases	5 years	5 years 6 months
Weighted average remaining lease term, Finance leases	2 years 10 months 24 days	3 years 7 months 6 days
Weighted average discount rate, Operating leases	4.20%	3.20%
Weighted average discount rate, Finance leases	7.40%	7.30%

Leases (Schedule Of Supplemen_2

Leases (Schedule Of Supplemental Cash Flow And Other Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 57.9	$ 42.6	$ 39
Operating cash flows from finance leases	0.3	0.4	0.5
Financing cash flows from finance leases	1.8	2.1	2.3
Right-of-use assets obtained in exchange for lease liabilities, Operating leases	92.5	82.1	54.7
Right-of-use assets obtained in exchange for lease liabilities, Finance leases	1	1.5	0.4
Operating leases acquired	$ 20.5	$ 2.9	$ 15.8

Leases (Schedule Of Maturity Of

Leases (Schedule Of Maturity Of Lease Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024, Operating Leases	$ 60.5
2025, Operating Leases	55.6
2026, Operating Leases	47.1
2027, Operating Leases	39.3
2028, Operating Leases	27.4
Thereafter, Operating Leases	32.1
Total future minimum lease payments, Operating Leases	262
Less: imputed interest, Operating Leases	(26.7)
Total operating lease liabilities	235.3	$ 191
Less: current obligations, Operating Leases	(51.9)	(43.9)
Long-term lease obligation, Operating Leases	183.4	147.1
2024, Finance Leases	2.1
2025, Finance Leases	1.6
2026, Finance Leases	0.8
2027, Finance Leases	0.4
2028, Finance Leases	0.3
Thereafter, Finance Leases	0.1
Total future minimum lease payments, Finance Leases	5.3
Less: imputed interest, Finance Leases	(0.6)
Total finance lease liabilities	4.7	5.5
Less: current obligations, Finance Leases	(1.9)	(1.6)
Long-term lease obligation, Finance Leases	$ 2.8	$ 3.9

Goodwill And Intangible Asset_2

Goodwill And Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0	$ 0	$ 0
Intangible asset impairment	0	0	0
Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 15,000,000	$ 6,300,000	$ 4,300,000

Goodwill And Intangible Asset_3

Goodwill And Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning Balance	$ 83.1	$ 57.1
Acquisitions and purchase accounting adjustments	95.7	26.5
Translation impact	0.2	(0.5)
Ending Balance	$ 179	$ 83.1

Goodwill And Intangible Asset_4

Goodwill And Intangible Assets (Schedule Of Finite Lived Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 299.9	$ 113.6
Accumulated Amortization	(38)	(23)
Total Net Carrying Amount	$ 261.9	$ 90.6
Weighted Average Life	15 years 6 months	14 years 6 months
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	2 years 6 months
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	20 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 226.9	$ 78.4
Accumulated Amortization	(27.9)	(16.4)
Total Net Carrying Amount	$ 199	$ 62
Weighted Average Life	15 years 3 months 18 days	12 years 10 months 24 days
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	6 years	6 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	20 years	20 years
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 69.8	$ 33.2
Accumulated Amortization	(8.9)	(5.9)
Total Net Carrying Amount	$ 60.9	$ 27.3
Weighted Average Life	16 years 10 months 24 days	18 years 10 months 24 days
Trade Name [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	5 years	5 years
Trade Name [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	20 years	20 years
Non-Compete Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2.5	$ 1.3
Accumulated Amortization	(0.7)	(0.5)
Total Net Carrying Amount	$ 1.8	$ 0.8
Weighted Average Life	5 years 2 months 12 days	5 years 3 months 18 days
Non-Compete Agreement [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	3 years	3 years
Non-Compete Agreement [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	7 years	7 years
Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 0.7	$ 0.7
Accumulated Amortization	(0.5)	(0.2)
Total Net Carrying Amount	$ 0.2	$ 0.5
Weighted Average Life	3 years 10 months 24 days	3 years 10 months 24 days
Other Intangibles [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	2 years 6 months
Other Intangibles [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Life	10 years	10 years

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets (Finite Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Goodwill And Intangible Assets [Abstract]
2024	$ 20.5
2025	20.2
2026	18.7
2027	18.5
2028	18
After 2028	166
Total Net Carrying Amount	$ 261.9	$ 90.6

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total income tax provision	$ 164.9	$ 155.8	$ 87.9
Effective tax rate	26.20%	25.60%	25%
Unrecognized tax benefits	$ 0.4	$ 0.5	$ 1
Accrued interest and penalties	0.1	0.1
Domestic Tax Authority [Member]
Valuation allowance	$ 1.1	$ 0.8

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
Components of Income before Taxes, Domestic	$ 591.9	$ 573.6	$ 327.6
Components of Income before Taxes, Foreign	37.4	35.9	23.3
Income before Provision for Income Taxes	$ 629.3	$ 609.5	$ 350.9

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components Of Income Tax Expense Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provisions for Income Taxes Recorded in the Consolidated Statements of Income [Abstract]
U.S. Federal, current expense	$ 109.7	$ 119.5	$ 77.3
State, current expense	29.1	28.8	18.2
Foreign, current expense	10.7	10.5	6.5
Total current expense	149.5	158.8	102
U.S. Federal, deferred expense benefit	11.9	(2.1)	(10.9)
State, deferred expense benefit	3.7	(0.6)	(3.2)
Foreign, deferred expense benefit	(0.2)	(0.3)
Total deferred expense (benefit)	15.4	(3)	(14.1)
Total income tax provision	$ 164.9	$ 155.8	$ 87.9

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	4.10%	3.70%	3.30%
Other, net	1.10%	0.90%	0.70%
Effective tax rate	26.20%	25.60%	25%

Income Taxes (Schedule Of Defer

Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Components of Deferred Tax Assets and Liabilities [Abstract]
Pension	$ 23.5	$ 28.9
Operating lease liabilities	58.8	47.2
Postretirement benefits	16.1	16
Inventory	25.2	20.1
Payroll accruals	6.1	5.4
Computer software	3.7
Bad debt reserves	2	2.2
Other deferred tax assets	19	19.6
Subtotal	154.4	139.4
Less: valuation allowances	(1.1)	(0.8)
Deferred tax assets	153.3	138.6
Fixed assets	(50.6)	(41.4)
Operating lease right-of-use assets	(54.1)	(43.2)
Computer software		(0.8)
Other deferred tax liabilities	(23)	(22.3)
Deferred tax liabilities	(127.7)	(107.7)
Net deferred tax assets	25.6	30.9
Deferred Tax Assets, Net, Classification [Abstract]
Net deferred tax assets	25.6	30.9
Other Noncurrent Assets [Member]
Deferred Tax Assets, Net, Classification [Abstract]
Deferred tax assets, included in other non-current assets	28.1	33.6
Other Noncurrent Liabilities [Member]
Deferred Tax Assets, Net, Classification [Abstract]
Deferred tax liabilities included in other non-current liabilities	$ (2.5)	$ (2.7)

Income Taxes (Summary Of Operat

Income Taxes (Summary Of Operating Loss Carryforwards) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Abstract]
U.S. Federal	$ 1.1	$ 0.8
State	$ 0.1	$ 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, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1:	$ 0.5	$ 1	$ 1.7
Reductions for tax positions of prior years	(0.1)	(0.5)	(0.7)
Balance at December 31:	$ 0.4	$ 0.5	$ 1

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	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
Cash dividends	$ 80.4	$ 92.8	$ 137.2
Common stock, subscriptions ( in shares)	1,347,781
Common shares subscribed (in dollars)	$ 27
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 [Member] | Common Stock [Member]
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Capital Stock [Abstract]
Shares of common stock purchased	1,016,132	735,641	794,227
Shares of common stock retired	1,010,521	725,186	798,166

Net Income Per Share Of Commo_2

Net Income Per Share Of Common Stock (Narrative) (Details) - shares			12 Months Ended
	Dec. 13, 2023	Dec. 07, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Income Per Share Of Common Stock [Abstract]
Common stock dividend declared, percent	20%	15%	20%	15%
Average common shares outstanding			32,121,723	31,870,071	31,455,629

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)		12 Months Ended
	Jul. 20, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 19, 2023
Line of Credit Facility [Line Items]
Fixed rate debt carrying amount in excess of fair value		$ 200,000	$ 300,000
Short-term borrowings		0	31,600,000
Interest expense, net		2,600,000	1,600,000	$ 1,000,000
Debt instrument interest expense		2,700,000	2,000,000	$ 1,000,000
Minimum [Member]
Line of Credit Facility [Line Items]
Short-term borrowings		0	0
Maximum [Member]
Line of Credit Facility [Line Items]
Short-term borrowings		232,000,000	173,100,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Short-term borrowings		30,000,000
Letters of credit outstanding			1,900,000
Letter of Credit [Member]
Line of Credit Facility [Line Items]
Letters of credit outstanding		9,400,000	7,800,000
Amended Credit Agreement [Member]
Line of Credit Facility [Line Items]
Short-term debt average amount outstanding		62,100,000	65,700,000
Letters of credit outstanding		3,600,000
Unused borrowing capacity, amount		$ 746,400,000	$ 718,100,000
Amended Credit Agreement [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage			0.25%
Amended Credit Agreement [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage			0.40%
Amended Credit Agreement [Member] | Weighted Average [Member]
Line of Credit Facility [Line Items]
Interest rate during the period		6.09%	1.98%
Amended Credit Agreement [Member] | Bridge Loan [Member] | Line of credit [Member] | Graybar Canada [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 100,000,000
Amended Credit Agreement [Member] | Bridge Loan [Member] | United States [Member] | Line of credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			75,000,000
Amended Credit Agreement [Member] | Bridge Loan [Member] | Canada [Member] | Line of credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 20,000,000
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			0%
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			1%
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.60%
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.60%
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | Line of credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 750,000,000
Accordion feature, increase limit			$ 375,000,000
Expiration date			Aug. 01, 2026
Debt instrument, term			5 years
Amended Credit Agreement [Member] | Letter of Credit [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage			1%
Amended Credit Agreement [Member] | Letter of Credit [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Credit agreement commitment fee percentage			1.60%
Amended Credit Agreement [Member] | Letter of Credit Sub Facility [Member] | Line of credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 25,000,000
Prudential Private Placement Shelf Agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 200,000,000				$ 100,000,000
Debt maturity date	Aug. 01, 2026
Issuance period		3 years
Loans Payable		$ 0	0
MetLife Private Placement Shelf Agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		150,000,000
Loans Payable		$ 0	$ 0

Debt (Schedule Of Long-term Deb

Debt (Schedule Of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total	$ 4.7	$ 5.5
Less current portion	(1.9)	(1.6)
Long-term Debt	$ 2.8	$ 3.9
Finance arrangements, various maturities, with a weighted average interest rate of 7.4%
Debt Instrument [Line Items]
Weighted average interest rate	7.40%	7.40%

Debt (Schedule Of Long-term D_2

Debt (Schedule Of Long-term Debt Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Long-term Debt matures as follows:
2024	$ 1.9
2025	1.5
2026	0.7
2027	0.3
2028	0.3
Total	$ 4.7	$ 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	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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%
Estimated nonqualified benefits in next fiscal year					$ 1.1
Non-cash pension settlement charge						$ 27	$ 30.4
Estimated future employer contributions					$ 40
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
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.83%	2.72%	2.86%	2.62%	5.55%
Non-cash pension settlement charge						$ 27	$ 30.4
Accumulated benefit obligation	$ 536.7				$ 572.2	536.7
Employer contributions					$ 103.9	$ 44.8
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate					5.70%	2.71%	2.22%
Employer contributions					$ 4.7	$ 4.8

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	$ 433.1
Balance, end of year	508.2	$ 433.1
Paid from Company assets for unfunded nonqualified benefits	3.9	2
Pension Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of period	577.9	841.9
Service cost	24.3	26.4	$ 30.2
Interest cost	31.9	25.5	23.9
Actuarial loss (gain)	36.8	(221)
Benefits paid from plan assets	(44.7)	(0.4)
Benefits paid from Company assets	(3.9)	(2)
Plan participants' contributions
Administrative expenses paid	(5.5)	(1.5)
Settlement charge		(91)
Benefit obligation, end of period	616.8	577.9	841.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	433.1	680.7
Actual return on plan assets	25.3	(197.5)
Employer contributions	103.9	44.8
Plan participants' contributions
Benefits paid	(48.6)	(2.4)
Administrative expenses paid	(5.5)	(1.5)
Settlements		(91)
Balance, end of year	508.2	433.1	680.7
Unfunded status	108.6	144.8
Postretirement Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of period	62.3	75.1
Service cost	1.4	2	2.2
Interest cost	3.4	2	1.7
Actuarial loss (gain)		(12)
Benefits paid from plan assets
Benefits paid from Company assets	(4.8)	(5.3)
Plan participants' contributions	0.1	0.5
Administrative expenses paid
Settlement charge
Benefit obligation, end of period	62.4	62.3	75.1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year
Actual return on plan assets
Employer contributions	4.7	4.8
Plan participants' contributions	0.1	0.5
Benefits paid	(4.8)	(5.3)
Administrative expenses paid
Settlements
Balance, end of year
Unfunded status	$ 62.4	$ 62.3

Pension And Other Postretirem_5

Pension And Other Postretirement Benefits (Schedule Of Amounts Recognized In Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits [Member]
Liability, Defined Benefit Plan [Abstract]
Current accrued benefit cost	$ 1.3	$ 4
Non-current accrued benefit cost	107.3	140.8
Net amount recognized	108.6	144.8
Postretirement Benefits [Member]
Liability, Defined Benefit Plan [Abstract]
Current accrued benefit cost	6.5	6.8
Non-current accrued benefit cost	55.9	55.5
Net amount recognized	$ 62.4	$ 62.3

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, 2023	Dec. 31, 2022
Pension Benefits [Member]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax [Abstract]
Net actuarial loss	$ 167.2	$ 138.1
Accumulated other comprehensive loss	167.2	138.1
Postretirement Benefits [Member]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax [Abstract]
Prior service cost	0.1	0.1
Accumulated other comprehensive loss	$ 0.1	$ 0.1

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, 2023	Dec. 31, 2022
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Healthcare cost trend on covered charges	5%
Pension Benefits [Member]
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.17%	5.55%
Rate of compensation increase	4.14%	4.28%
Postretirement Benefits [Member]
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.31%	5.70%
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Total selling, general, and administrative expenses	$ 1,525	$ 1,442.8	$ 1,240.5
Settlement charge		27	30.4
Total non-operating expenses	8	44.3	59.5
Pension Benefits [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	24.3	26.4	30.2
Total selling, general, and administrative expenses	24.3	26.4	30.2
Interest cost	31.9	25.5	23.9
Expected return on plan assets	(28.9)	(30.2)	(30.6)
Amortization of net actuarial loss	1.1	17.4	32.3
Settlement charge		27	30.4
Total non-operating expenses	4.1	39.7	56
Net periodic benefit cost	$ 28.4	$ 66.1	$ 86.2
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Expected return on plan assets	5.25%	5%	5%
Rate of compensation increase	4.14%	4.21%	4.32%
Postretirement Benefits [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 1.4	$ 2	$ 2.2
Total selling, general, and administrative expenses	1.4	2	2.2
Interest cost	3.4	2	1.7
Amortization of net actuarial loss		0.6	0.8
Total non-operating expenses	3.4	2.6	2.5
Net periodic benefit cost	$ 4.8	$ 4.6	$ 4.7
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, 2023 USD ($)
Pension Benefits [Member]
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	$ 50
2025	49.8
2026	51.7
2027	52.4
2028	54.3
2029 - 2033	268
Postretirement Benefits [Member]
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	6.7
2025	7
2026	7.4
2027	7.4
2028	7.4
2029 - 2033	$ 31.7

Pension And Other Postretire_10

Pension And Other Postretirement Benefits (Schedule Of Allocation Of Plan Assets) (Details)	Dec. 31, 2023	Dec. 31, 2022
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. [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	6%	7%
Equity Securities - International [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	5%	5%
Fixed Income Investments - U.S. [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	52%	46%
Hedge Funds [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	1%	6%
Private equity [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	8%	8%
Real assets [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	6%	5%
Other investments [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	4%	4%
Short-term Investments [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Actual Allocation	18%	19%
Minimum [Member] | Equity Securities - U.S. [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	3%	3%
Minimum [Member] | Equity Securities - International [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum [Member] | Fixed Income Investments - U.S. [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	40%	40%
Minimum [Member] | Hedge Funds [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum [Member] | Private equity [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum [Member] | Real assets [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	2%	2%
Minimum [Member] | Other investments [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0%	0%
Minimum [Member] | Short-term Investments [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	1%	1%
Maximum [Member] | Equity Securities - U.S. [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%
Maximum [Member] | Equity Securities - International [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%
Maximum [Member] | Fixed Income Investments - U.S. [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	80%	80%
Maximum [Member] | Hedge Funds [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8%	8%
Maximum [Member] | Private equity [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8%	8%
Maximum [Member] | Real assets [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	10%	10%
Maximum [Member] | Other investments [Member]
Defined Benefit Plan, Assets, Target Allocations [Abstract]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8%	8%
Maximum [Member] | Short-term Investments [Member]
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, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	$ 508.2	$ 433.1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	433.1
Balance, end of year	508.2	433.1
Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	174.2	169.6
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	169.6
Balance, end of year	174.2	169.6
Quoted Prices in Active Markets for Identical Inputs (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	48.3	43
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	43
Balance, end of year	48.3	43
Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	252.1	185.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	185.5
Balance, end of year	252.1	185.5
Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	33.6	35
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	35	33.1
Realized gains	0.2	1
Unrealized gains	0.6	3
Purchases	0.1	0.3
Sales	(2.3)	(2.4)
Balance, end of year	33.6	35
Equity Securities - U.S. [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	30.1	28.3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	28.3
Balance, end of year	30.1	28.3
Equity Securities - U.S. [Member] | Quoted Prices in Active Markets for Identical Inputs (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	30.1	28.3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	28.3
Balance, end of year	30.1	28.3
Equity Securities - International [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	25.1	22.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	22.5
Balance, end of year	25.1	22.5
Equity Securities - International [Member] | 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	9.1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	9.1
Balance, end of year	20	9.1
Equity Securities - International [Member] | Quoted Prices in Active Markets for Identical Inputs (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	5.1	13.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	13.4
Balance, end of year	5.1	13.4
Fixed Income Investments - U.S. [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	265	198.2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	198.2
Balance, end of year	265	198.2
Fixed Income Investments - U.S. [Member] | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	12.9	12.7
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	12.7
Balance, end of year	12.9	12.7
Fixed Income Investments - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	252.1	185.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	185.5
Balance, end of year	252.1	185.5
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	7.5	27.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	27.4
Balance, end of year	7.5	27.4
Hedge Funds [Member] | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	7.5	27.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	27.4
Balance, end of year	7.5	27.4
Real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	28	21.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	21.5
Balance, end of year	28	21.5
Real assets [Member] | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	14.9	20.2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	20.2
Balance, end of year	14.9	20.2
Real assets [Member] | Quoted Prices in Active Markets for Identical Inputs (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	13.1	1.3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	1.3
Balance, end of year	13.1	1.3
Private equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	39.8	34.5
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	34.5
Balance, end of year	39.8	34.5
Private equity [Member] | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	17.6	10.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	10.9
Balance, end of year	17.6	10.9
Private equity [Member] | Significant Unobservable Inputs (Level 3) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	22.2	23.6
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	23.6	21.7
Realized gains	0.2	0.8
Unrealized gains	(0.7)	2.3
Purchases	0.1	0.3
Sales	(1)	(1.5)
Balance, end of year	22.2	23.6
Other investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	19.5	16.8
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	16.8
Balance, end of year	19.5	16.8
Other investments [Member] | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	8.1	5.4
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	5.4
Balance, end of year	8.1	5.4
Other investments [Member] | Significant Unobservable Inputs (Level 3) [Member]
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
Unrealized gains	1.3	0.7
Purchases
Sales	(1.3)	(0.9)
Balance, end of year	11.4	11.4
Short-term Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	93.2	83.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	83.9
Balance, end of year	93.2	83.9
Short-term Investments [Member] | Investments Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan fair value of plan assets measured at net asset value	93.2	83.9
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance, beginning of year	83.9
Balance, end of year	$ 93.2	$ 83.9

Profit Sharing And Savings Pl_2

Profit Sharing And Savings Plan (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Required term of service to be eligible for plan match				6 months 500 hours
Profit Sharing and Savings Plan [Member]
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	$ 7.2	$ 5.9	$ 4.5
Discretionary Employer Contribution	$ 56.2	$ 78.7	$ 71.3

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Insurance receivables current	$ 2.3	$ 2.5
Insurance receivables non-current	38.4	41.5
Other Current Liabilities [Member]
Liability related to asbestos claims and related insurance receivables	2.3	2.5
Other Noncurrent Liabilities [Member]
Liability related to asbestos claims and related insurance receivables	$ 38.4	$ 41.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Currency translation	$ (10.6)	$ (14.6)
Accumulated Other Comprehensive Loss	(177.9)	(152.8)
Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefits liability	(167.2)	(138.1)
Accumulated Other Comprehensive Loss	(167.2)	(138.1)
Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Benefits liability	$ (0.1)	$ (0.1)

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-operating expenses, net	$ 8	$ 44.3	$ 59.5
Tax benefit	164.9	155.8	87.9
Total reclassifications for the period, net of tax	(464.4)	(453.7)	(263)
Non-cash pension settlement charge		27	$ 30.4
Reclassification out of AOCI [Member] | Actuarial Losses Recognized [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-operating expenses, net	1.1	45
Tax benefit	(0.3)	(11.6)
Total reclassifications for the period, net of tax	$ 0.8	$ 33.4

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss (Changes In Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 1,520
Ending balance	1,880.5	$ 1,520
Amounts reclassified from accumulated other comprehensive loss, tax	(0.3)	(11.6)
Actuarial loss, tax	10.4	(1.4)
Foreign Currency [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(14.6)	(5)
Other comprehensive income (loss) before reclassifications	4	(9.6)
Amounts reclassified from accumulated other comprehensive income (net of tax)
Actuarial (loss) gain (net of tax)
Net current-period other comprehensive (loss) income	4	(9.6)
Ending balance	(10.6)	(14.6)
Pension and Other Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(138.2)	(175.5)
Other comprehensive income (loss) before reclassifications
Amounts reclassified from accumulated other comprehensive income (net of tax)	0.8	33.4
Actuarial (loss) gain (net of tax)	(29.9)	3.9
Net current-period other comprehensive (loss) income	(29.1)	37.3
Ending balance	(167.3)	(138.2)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(152.8)	(180.5)
Other comprehensive income (loss) before reclassifications	4	(9.6)
Amounts reclassified from accumulated other comprehensive income (net of tax)	0.8	33.4
Actuarial (loss) gain (net of tax)	(29.9)	3.9
Net current-period other comprehensive (loss) income	(25.1)	27.7
Ending balance	$ (177.9)	$ (152.8)

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) entity	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Number of acquisitions | entity									2
Net sales	$ 2,725.1	$ 2,852.6	$ 2,792.1	$ 2,672.6	$ 2,690.3	$ 2,789.7	$ 2,672.6	$ 2,381.8	$ 11,042.4	$ 10,534.4	$ 8,767.3
Goodwill	179				83.1				179	83.1	57.1
Net income									464.4	453.7	263
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Preliminary purchase price									378.8	83.8	89.7
Net sales									301.5
Intangible assets					27.4					27.4	32.1
Goodwill	$ 95.6				12.8				95.6	12.8	$ 20.9
Net income									$ 4
Preliminary purchase price, nondeductible goodwill					12.4					12.4
Preliminary purchase price, nondeductible other intangible assets					$ 5.3					$ 5.3

Acquisitions (Estimated Fair Va

Acquisitions (Estimated Fair Values Of Assets Acquired And Liabilities Assumed) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 179	$ 83.1	$ 57.1
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Current Assets	153.6
Property	5
Goodwill	95.6	$ 12.8	$ 20.9
Intangible assets	186.1
Other Non-current Assets	2.9
Current Liabilities	(64.4)
Total combined preliminary purchase price	$ 378.8

Acquisitions (Components Of Pre

Acquisitions (Components Of Preliminary Identifiable Intangible Assets Acquired And Useful Lives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Weighted Average Life	15 years 6 months	14 years 6 months
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Weighted Average Life	16 years 2 months 12 days
Fair value	$ 186.1
Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted Average Life	15 years 3 months 18 days	12 years 10 months 24 days
Customer Relationships [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Weighted Average Life	16 years 6 months
Fair value	$ 148.3
Trade Name [Member]
Business Acquisition [Line Items]
Weighted Average Life	16 years 10 months 24 days	18 years 10 months 24 days
Trade Name [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Weighted Average Life	15 years
Fair value	$ 36.6
Other Intangibles [Member]
Business Acquisition [Line Items]
Weighted Average Life	3 years 10 months 24 days	3 years 10 months 24 days
Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Weighted Average Life	5 years 2 months 12 days	5 years 3 months 18 days
Non-Compete Agreement [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Weighted Average Life	5 years
Fair value	$ 1.2

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. 13, 2023	Dec. 07, 2022	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Net sales			$ 2,725.1	$ 2,852.6	$ 2,792.1	$ 2,672.6	$ 2,690.3	$ 2,789.7	$ 2,672.6	$ 2,381.8	$ 11,042.4		$ 10,534.4		$ 8,767.3
Gross margin			547.1	568.9	560.9	546.9	553.8	574.2	539.8	479.3	2,223.8		2,147.1		1,689.2
Net income attributable to the Company			$ 96.7	$ 117.7	$ 124.2	$ 124.8	$ 97	$ 126.1	$ 127.6	$ 102.2	$ 463.4		$ 452.9		$ 262.4
Net income attributable to the Company per share of common stock (usd per share)			$ 3.02	$ 3.67	$ 3.86	$ 3.87	$ 3.05	$ 3.96	$ 4	$ 3.20	$ 14.42	[1]	$ 14.21	[1]	$ 8.34	[1]
Common stock dividend declared, percent	20%	15%									20%		15%
Average common shares outstanding											32,121,723		31,870,071		31,455,629
Previously Reported [Member]
Average common shares outstanding			26,680,115	26,741,319	26,798,704	26,891,485	23,075,526	23,091,318	23,101,970	23,113,523			26,600,000		26,200,000
[1] Adjusted for the declaration of a 20 % stock dividend in December 2023, shares related to which were issued in February 2024. Prior to the adjustment, the average common shares outstanding were 26.6 million shares and 26.2 million shares for the years ended December 31, 2022 and 2021, respectively.