Ecolab (ECL) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2024 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-9328
Entity Registrant Name	ECOLAB INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0231510
Entity Address, Address Line One	1 Ecolab Place
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55102
City Area Code	800
Local Phone Number	232-6522
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	284,537,616
Entity Central Index Key	0000031462
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
COMMON STOCK
Document and Entity Information
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	ECL
Security Exchange Name	NYSE
2.625% Euro Notes due 2025
Document and Entity Information
Title of 12(b) Security	2.625% Euro Notes due 2025
Trading Symbol	ECL 25
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 3,985.8	$ 3,852.1	$ 7,737.7	$ 7,423.7
Cost of sales (including special charges (a))	2,241	2,334.8	4,369.1	4,540
Selling, general and administrative expenses	1,075.7	1,011.6	2,153.4	2,001.9
Special (gains) and charges	12.2	21	40.4	45.5
Operating income	656.9	484.7	1,174.8	836.3
Other (income) expense	(12.6)	(14.4)	(25.2)	(27.5)
Interest expense, net	78.8	77.8	150.4	152
Income before income taxes	590.7	421.3	1,049.6	711.8
Provision for income taxes	95.7	86.6	138	139
Net income including noncontrolling interest	495	334.7	911.6	572.8
Net income attributable to noncontrolling interest	4.1	5	8.6	9.7
Net income attributable to Ecolab	$ 490.9	$ 329.7	$ 903	$ 563.1
Earnings attributable to Ecolab per common share
Basic (in dollars per share)	$ 1.72	$ 1.16	$ 3.17	$ 1.98
Diluted (in dollars per share)	$ 1.71	$ 1.15	$ 3.14	$ 1.97
Weighted-average common shares outstanding
Basic (in shares)	284.6	284.9	285.2	284.8
Diluted (in shares)	287	286.3	287.4	286.1
Product and equipment sales
Net sales	$ 3,173.1	$ 3,104.8	$ 6,159.6	$ 5,981.1
Cost of sales (including special charges (a))	1,770.6	1,895.3	3,449.8	3,693.6
Service and lease sales
Net sales	812.7	747.3	1,578.1	1,442.6
Cost of sales (including special charges (a))	$ 470.4	$ 439.5	$ 919.3	$ 846.4

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Special (gains) and charges	$ 12.2	$ 21	$ 40.4	$ 45.5
Cost of sales
Special (gains) and charges	0.7	8.1	2.3	11.3
Product and equipment, and service and lease | Cost of sales
Special (gains) and charges	$ 0.7	$ 8.1	$ 2.3	$ 11.3

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income including noncontrolling interest	$ 495	$ 334.7	$ 911.6	$ 572.8
Foreign currency translation adjustments
Foreign currency translation	(24.6)	3	(71.2)	14.1
Gain (loss) on net investment hedges	3.3	(23.8)	12.2	(40.5)
Total foreign currency translation adjustments	(21.3)	(20.8)	(59)	(26.4)
Derivatives and hedging instruments	2.2	(1.5)	7.3	(6.2)
Pension and postretirement benefits
Pension and postretirement benefits	(0.1)	(4.3)	2.2	(4.1)
Subtotal	(19.2)	(26.6)	(49.5)	(36.7)
Total comprehensive income, including noncontrolling interest	475.8	308.1	862.1	536.1
Comprehensive income attributable to noncontrolling interest	3.1	3	8.1	8.2
Comprehensive income attributable to Ecolab	$ 472.7	$ 305.1	$ 854	$ 527.9

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 384	$ 919.5
Accounts receivable, net	2,876.3	2,834.2
Inventories	1,505.9	1,497.2
Assets held for sale	565.6
Other current assets	420.5	393.2
Total current assets	5,752.3	5,644.1
Property, plant and equipment, net	3,416.9	3,474.6
Goodwill	7,821.9	8,148.2
Other intangible assets, net	3,334	3,493.5
Operating lease assets	573	553.5
Other assets	563.7	532.7
Total assets	21,461.8	21,846.6
Current liabilities
Short-term debt	5.9	630.4
Accounts payable	1,690.7	1,566.3
Compensation and benefits	540.5	655.5
Income taxes	137.2	158.7
Liabilities held for sale	62.5
Other current liabilities	1,410.8	1,334.9
Total current liabilities	3,847.6	4,345.8
Long-term debt	7,538.8	7,551.4
Pension and postretirement benefits	627.1	651.7
Deferred income taxes	290.7	418.2
Operating lease liabilities	438.6	425.5
Other liabilities	411.1	381.8
Total liabilities	13,153.9	13,774.4
Commitments and contingencies (Note 17)
Equity (a)
Common stock	367.1	365.7
Additional paid-in capital	7,002.1	6,766.7
Retained earnings	10,653.3	10,075.4
Accumulated other comprehensive loss	(1,899.4)	(1,850.4)
Treasury stock	(7,835.7)	(7,312.7)
Total Ecolab shareholders' equity	8,287.4	8,044.7
Noncontrolling interest	20.5	27.5
Total equity	8,307.9	8,072.2
Total liabilities and equity	$ 21,461.8	$ 21,846.6

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS
Common stock, shares authorized	800	800
Common stock, par value per share (in dollars per share)	$ 1	$ 1
Common stock, shares outstanding	284.5	285.4

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
OPERATING ACTIVITIES
Net income including noncontrolling interest	$ 911.6	$ 572.8
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	316.9	311.3
Amortization	152.9	152.4
Deferred income taxes	(137.7)	(36.8)
Share-based compensation expense	82.9	58.7
Pension and postretirement plan contributions	(30.8)	(29)
Pension and postretirement plan expense (income), net	8	4.3
Restructuring charges, net of cash paid	(9.9)	(26.3)
Other, net	13.6	13.2
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(110.1)	(52.8)
Inventories	(92.3)	150.9
Other assets	(9.1)	19.2
Accounts payable	210.1	(264.7)
Other liabilities	(45.6)	(101.6)
Cash provided by operating activities	1,260.5	771.6
INVESTING ACTIVITIES
Capital expenditures	(398.4)	(345.7)
Property and other assets sold	3.5	8.6
Acquisitions and investments in affiliates, net of cash acquired	(38.7)	(105)
Other, net	(11.8)	(21.4)
Cash used for investing activities	(445.4)	(463.5)
FINANCING ACTIVITIES
Net issuances of commercial paper and notes payable	1.7	1.7
Long-term debt repayments	(629.6)
Reacquired shares	(519.4)	(10.9)
Dividends paid	(340.7)	(308.6)
Exercise of employee stock options	154.4	50.6
Hedge settlements	(0.6)	(53.5)
Other, net	(1.5)	(1.5)
Cash used for financing activities	(1,335.7)	(322.2)
Effect of exchange rate changes on cash and cash equivalents	(8.9)	(30.3)
Decrease in cash and cash equivalents	(529.5)	(44.4)
Cash and cash equivalents, beginning of period	919.5	598.6
Cash and cash equivalents, end of period	384	$ 554.2
Assets held for sale
Net change in cash balances classified as assets held for sale	$ (6)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Ecolab Shareholders' Equity	Common stock	Additional Paid-in Capital	Retained Earnings	AOCI (Loss)	Treasury Stock	Non-Controlling Interest	Total
Balance, beginning at Dec. 31, 2022	$ 7,236.1	$ 364.7	$ 6,580.2	$ 9,318.8	$ (1,726.6)	$ (7,301)	$ 22.5	$ 7,258.6
Increase (Decrease) in Stockholders' Equity
Net income	563.1			563.1			9.7	572.8
Other comprehensive income (loss) activity	(35.2)				(35.2)		(1.5)	(36.7)
Cash dividends declared (a)	(301.9)			(301.9)			(6.9)	(308.8)
Changes in noncontrolling interest	(4.5)		(4.5)					(4.5)
Stock options and awards	110	0.6	108.4			1		110
Reacquired shares	(10.9)					(10.9)		(10.9)
Balance, Ending at Jun. 30, 2023	7,556.7	365.3	6,684.1	9,580	(1,761.8)	(7,310.9)	23.8	7,580.5
Balance, beginning at Mar. 31, 2023	7,344.2	365	6,626.5	9,401.3	(1,737.2)	(7,311.4)	20.8	7,365
Increase (Decrease) in Stockholders' Equity
Net income	329.7			329.7			5	334.7
Other comprehensive income (loss) activity	(24.6)				(24.6)		(2)	(26.6)
Cash dividends declared (a)	(151)			(151)				(151)
Changes in noncontrolling interest	(4.5)		(4.5)					(4.5)
Stock options and awards	63.2	0.3	62.1			0.8		63.2
Reacquired shares	(0.3)					(0.3)		(0.3)
Balance, Ending at Jun. 30, 2023	7,556.7	365.3	6,684.1	9,580	(1,761.8)	(7,310.9)	23.8	7,580.5
Balance, beginning at Dec. 31, 2023	8,044.7	365.7	6,766.7	10,075.4	(1,850.4)	(7,312.7)	27.5	8,072.2
Increase (Decrease) in Stockholders' Equity
Net income	903			903			8.6	911.6
Other comprehensive income (loss) activity	(49)				(49)		(0.5)	(49.5)
Cash dividends declared (a)	(325.1)			(325.1)			(15.1)	(340.2)
Stock options and awards	238.2	1.4	235.4			1.4		238.2
Reacquired shares	(524.4)					(524.4)		(524.4)
Balance, Ending at Jun. 30, 2024	8,287.4	367.1	7,002.1	10,653.3	(1,899.4)	(7,835.7)	20.5	8,307.9
Balance, beginning at Mar. 31, 2024	8,205.6	366.8	6,917.6	10,324.5	(1,881.2)	(7,522.1)	20	8,225.6
Increase (Decrease) in Stockholders' Equity
Net income	490.9			490.9			4.1	495
Other comprehensive income (loss) activity	(18.2)				(18.2)		(1)	(19.2)
Cash dividends declared (a)	(162.1)			(162.1)			(2.6)	(164.7)
Stock options and awards	85.6	0.3	84.5			0.8		85.6
Reacquired shares	(314.4)					(314.4)		(314.4)
Balance, Ending at Jun. 30, 2024	$ 8,287.4	$ 367.1	$ 7,002.1	$ 10,653.3	$ (1,899.4)	$ (7,835.7)	$ 20.5	$ 8,307.9

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CONSOLIDATED STATEMENTS OF EQUITY
Dividends declared per common share (in dollars per share)	$ 0.57	$ 0.53	$ 1.14	$ 1.06

CONSOLIDATED FINANCIAL INFORMAT

CONSOLIDATED FINANCIAL INFORMATION	6 Months Ended
	Jun. 30, 2024
CONSOLIDATED FINANCIAL INFORMATION
CONSOLIDATED FINANCIAL INFORMATION	1. CONSOLIDATED FINANCIAL INFORMATION ​ The unaudited consolidated financial information for the second quarter ended June 30, 2024 and 2023 reflects, in the opinion of management, all adjustments necessary for a fair statement of the financial position, results of operations, comprehensive income, equity and cash flows of Ecolab Inc. ("Ecolab" or "the Company") for the interim periods presented. Any adjustments consist of normal recurring items. ​ The financial results for any interim period are not necessarily indicative of results for the full year. The consolidated balance sheet data as of December 31, 2023 was derived from the audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The unaudited consolidated financial information should be read in conjunction with the consolidated financial statements and notes thereto incorporated in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on February 23, 2024. ​ With respect to the unaudited financial information of the Company for the second quarter ended June 30, 2024 and 2023 included in this Form 10-Q, PricewaterhouseCoopers LLP reported that they have applied limited procedures in accordance with professional standards for a review of such information. Their separate report dated August 2, 2024 appearing herein states that they did not audit and they do not express an opinion on that unaudited financial information. Accordingly, the degree of reliance on their report on such information should be restricted in light of the limited nature of the review procedures applied. PricewaterhouseCoopers LLP is not subject to the liability provisions of Section 11 of the Securities Act of 1933, as amended (the "Act"), for their report on the unaudited financial information because that report is not a "report" or a "part" of a registration statement prepared or certified by PricewaterhouseCoopers LLP within the meaning of Sections 7 and 11 of the Act. ​ ​

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	6 Months Ended
	Jun. 30, 2024
ASSETS AND LIABILITIES HELD FOR SALE
ASSETS AND LIABILITIES HELD FOR SALE	2. ASSETS AND LIABILITIES HELD FOR SALE ​ Assets and liabilities are classified as held for sale and presented separately on the balance sheet when all of the following criteria for a plan of sale have been met: (1) management, having the authority to approve the action, commits to a plan to sell the assets; (2) the assets are available for immediate sale, in their present condition, subject only to terms that are usual and customary for sales of such assets; (3) an active program to locate a buyer and other actions required to complete the plan to sell the assets have been initiated; (4) the sale of the assets is probable and transfer of the assets is expected to be completed within one year; (5) the assets are being actively marketed for a price that is reasonable in relation to their current fair value; and (6) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or the plan will be withdrawn. Assets held for sale are measured at the lower of carrying value or fair value less costs to sell. Any loss resulting from the measurement is recognized in the period the held-for-sale criteria are met. Gains are not recognized until the date of the sale. When the disposal group is classified as held for sale, depreciation and amortization for long-lived assets ceases and the Company tests the assets for impairment. Unless otherwise specified, the amounts and information in the notes presented do not include assets and liabilities that have been classified as held for sale as of June 30, 2024. ​ On April 27, 2024, the Company reached a definitive agreement to sell its global surgical solutions business for total consideration of $950 million in cash, subject to certain working capital and other purchase price adjustments. Accordingly, the global surgical solutions business has met the criteria to be classified as held for sale and the Company has aggregated and classified the assets and liabilities as held for sale in the Company’s Consolidated Balance Sheets as of June 30, 2024. The Company measured the assets and liabilities held for sale at the estimated fair value less costs to sell, which resulted in no impairment in the quarter. The Company expects to record an associated pre-tax gain within Special (Gains) and Charges in the Consolidated Statements of Income. On August 1, 2024, the Company completed the sale of its global surgical solutions business pursuant to the definitive agreement dated April 27, 2024. ​ ​ ​ The global surgical solutions business did not meet the criteria to be classified as a discontinued operation. As a result, the Company continued to report its operating results in the Global Healthcare & Life Sciences reportable segment as of June 30, 2024. The assets and liabilities of businesses held for sale were as follows: ​ ​ ​ ​ ​ ​ ​ ​ June 30 (millions) 2024 ​ ​ ​ ​ ​ Assets held for sale ​ ​ ​ ​ Cash and cash equivalents ​ ​ $6.0 ​ Accounts receivable, net ​ 53.3 ​ Inventories ​ 83.6 ​ Other current assets ​ ​ 6.5 ​ Property, plant and equipment, net ​ 64.9 ​ Goodwill ​ 305.0 ​ Other intangible assets, net ​ 22.4 ​ Operating lease assets ​ ​ 8.5 ​ Other assets ​ ​ 15.4 ​ Total assets held for sale ​ ​ $565.6 ​ ​ ​ ​ ​ ​ Liabilities held for sale ​ ​ ​ ​ Accounts payable ​ $28.9 ​ Compensation and benefits ​ 5.4 ​ Other current liabilities ​ ​ 15.8 ​ Postretirement health care and pension benefits ​ 6.6 ​ Operating lease liabilities ​ ​ 5.8 ​ Total liabilities held for sale ​ $62.5 ​ ​

SPECIAL (GAINS) AND CHARGES

SPECIAL (GAINS) AND CHARGES	6 Months Ended
	Jun. 30, 2024
SPECIAL (GAINS) AND CHARGES
SPECIAL (GAINS) AND CHARGES	3. SPECIAL (GAINS) AND CHARGES ​ Special (gains) and charges reported on the Consolidated Statements of Income include the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ 2023 2024 ​ 2023 ​ Cost of sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring activities ​ ​ $0.7 ​ ​ ​ $8.1 ​ ​ $2.3 ​ ​ $11.3 ​ Cost of sales subtotal ​ ​ 0.7 ​ ​ ​ 8.1 ​ ​ 2.3 ​ ​ 11.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special (gains) and charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring activities ​ ​ 6.9 ​ ​ ​ 13.7 ​ ​ 25.0 ​ ​ 26.3 ​ Sale of global surgical solutions business ​ ​ 7.3 ​ ​ ​ - ​ ​ 13.3 ​ ​ ​ - ​ Acquisition and integration activities ​ ​ 2.3 ​ ​ ​ 3.5 ​ ​ 4.8 ​ ​ ​ 8.5 ​ Other ​ ​ (4.3) ​ ​ ​ 3.8 ​ ​ (2.7) ​ ​ 10.7 ​ Special (gains) and charges subtotal ​ ​ 12.2 ​ ​ ​ 21.0 ​ ​ 40.4 ​ ​ 45.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total special (gains) and charges ​ ​ $12.9 ​ ​ ​ $29.1 ​ ​ $42.7 ​ ​ ​ $56.8 ​ ​ For segment reporting purposes, special (gains) and charges are not allocated to reportable segments, which is consistent with the Company’s internal management reporting. ​ Restructuring activities ​ Restructuring activities are primarily related to the Combined Program which is described below. These activities have been included as a component of cost of sales and special (gains) and charges on the Consolidated Statements of Income. Restructuring liabilities have been classified as a component of other current and other noncurrent liabilities on the Consolidated Balance Sheets. ​ Combined Program ​ In November 2022 the Company approved a Europe cost savings program. In February 2023, the Company expanded its previously announced Europe cost savings program to focus on its Institutional and Healthcare businesses in other regions. In connection with the expanded program (“the Combined Program”), the Company expects to incur total pre-tax charges of $195 million ( $150 million after tax). The Company expects that these restructuring charges will be substantially completed by the end of 2024. Program actions include headcount reductions from terminations, not filling certain open positions, and facility closures. The Combined Program charges are expected to be primarily cash expenditures related to severance and asset disposals. ​ In anticipation of this Combined Program, a limited number of actions were taken in the fourth quarter of 2022. As a result, the Company reclassified $19.3 million ( $14.5 million after tax) from other restructuring to the Combined Program in the first quarter of 2023. During the second quarter of 2024 and 2023, the Company recorded restructuring charges of $2.3 million ( $1.4 million after tax) and $19.7 million ( $16.2 million after tax), respectively, and during the first six months of 2024 and 2023 $22.0 million ( $17.2 million after tax) and $33.1 million ( $26.4 million after tax), respectively, primarily related to severance and professional services . The Company has recorded $180.9 million ( $150.1 million after tax) of cumulative charges under the Combined Plan. ​ The Company reclassified $5.3 million ( $4.0 million after tax) from the combined restructuring program to other restructuring in the second quarter of 2024. ​ The net liability related to the Combined Program was $32.2 million and $43.1 million as of June 30, 2024 and December 31, 2023, respectively. The remaining liability is expected to be paid over a period of a few months to several quarters and will continue to be funded from operating activities. ​ Restructuring activity related to the Combined Program since inception of the underlying actions includes the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ ​ ​ ​ (millions) Costs Disposals Other Total 2022-2023 Activity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded expense and accrual ​ ​ $114.2 ​ ​ ​ $14.0 ​ ​ ​ $16.7 ​ ​ ​ $144.9 ​ Net cash payments ​ ​ (90.4) ​ ​ ​ - ​ ​ ​ (16.7) ​ ​ ​ (107.1) ​ Non-cash charges ​ ​ - ​ ​ ​ (14.0) ​ ​ ​ - ​ ​ ​ (14.0) ​ Reclassification ​ 19.3 ​ ​ ​ - ​ ​ ​ - ​ ​ 19.3 ​ Net restructuring liability, December 31, 2023 ​ ​ 43.1 ​ ​ ​ - ​ ​ ​ - ​ ​ ​ 43.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 Activity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded expense and accrual ​ ​ 3.8 ​ ​ ​ 0.7 ​ ​ ​ 17.5 ​ ​ ​ 22.0 ​ Net cash payments ​ ​ (18.8) ​ ​ ​ - ​ ​ ​ (8.1) ​ ​ ​ (26.9) ​ Non-cash charges ​ ​ - ​ ​ ​ (0.7) ​ ​ ​ - ​ ​ ​ (0.7) ​ Reclassification ​ - ​ ​ ​ - ​ ​ ​ (5.3) ​ ​ ​ (5.3) ​ Net restructuring liability, June 30, 2024 ​ ​ $28.1 ​ ​ ​ $- ​ ​ ​ $4.1 ​ ​ ​ $32.2 ​ ​ Other Restructuring Activities ​ During 2024, the Company incurred restructuring charges of $10.6 million ( $8.0 million after tax) related to an immaterial restructuring plan approved in the second quarter. ​ The restructuring liability balance for all other restructuring plans excluding the Combined Program was $9.0 million as of the end of the second quarter. ​ One Ecolab ​ On July 30, 2024, the Company announced the One Ecolab initiative, which will enhance its growth and margin expansion journey. As a program within this initiative, the Company also announced that it commenced a restructuring plan to leverage its digital technologies to realign the functional work done in many countries into global centers of excellence. The Company anticipates restructuring costs of $175 million ( $136 million after tax) and special charges of $50 million ( $39 million after tax) by the end of 2027. The Company anticipates that the restructuring costs will primarily be cash expenditures for severance costs relating to team reorganization. ​ Sale of global surgical solutions business On April 27, 2024, the Company reached a definitive agreement to sell its global surgical solutions business. The Company recorded charges of $7.3 million ( $3.1 million gain after tax) and $13.3 million ( $1.4 million after tax) in the second quarter and first six months of 2024, respectively, which are primarily related to professional fees to support the sale. The tax benefit is driven by a reduction to the Company’s valuation allowance on capital loss carryforwards. ​ Acquisition and integration related costs ​ Acquisition and integration related costs reported in special (gains) and charges on the Consolidated Statements of Income include $2.3 million ( $1.7 million after tax) and $3.5 million ( $2.7 million after tax) in the second quarter of 2024 and 2023, respectively. Acquisition and integration related costs reported in special (gains) and charges on the Consolidated Statements of Income include $4.8 million ( $3.6 million after tax) and $8.5 million ( $6.4 million after tax) in the first six months of 2024 and 2023, respectively. ​ Further information related to the Company’s acquisitions is included in Note 4. ​ ​ Other operating activities ​ Other special (gains) and charges of ( $4.3 million) ( $3.1 million gain after tax) and $3.8 million ( $2.8 million after tax) recorded in the second quarter of 2024 and 2023, respectively , and ( $2.7 million) ( $2.2 million gain after tax) and $10.7 million ( $8.2 million after tax) recorded in the first six months of 2024 and 2023, respectively, related primarily to recoveries of COVID era credits, professional fees and certain legal charges, which are recorded in special (gains) and charges on the Consolidated Statements of Income.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2024
ACQUISITIONS
ACQUISITIONS	4. ACQUISITIONS ​ Acquisitions ​ The Company makes business acquisitions that align with its strategic business objectives. The assets and liabilities of acquired businesses are recorded in the Consolidated Balance Sheets based on estimates of the fair value of assets acquired, liabilities assumed and noncontrolling interests acquired as of the acquisition date. Goodwill is recognized in the amount that the purchase consideration paid exceeds the fair value of the net assets acquired. Purchase consideration includes both cash paid and the fair value of noncash consideration exchanged, including stock and/or contingent consideration, and is reduced by the amount of cash or cash equivalents acquired. ​ In May 2023, the Company acquired Chemlink Laboratories LLC, a U.S.-based producer of small format cleaning solutions. The Company made two other immaterial acquisitions during the second quarter of 2023. All three acquisitions became part of the Global Institutional & Specialty reporting segment. The purchase accounting for these acquisitions were finalized in the second quarter of 2024. ​ In May 2024, the Company completed an immaterial acquisition which became part of the Global Pest Elimination reporting segment. ​ The purchase accounting for this acquisition is preliminary and subject to change as the Company finalizes the valuation of intangible assets, income tax balances and working capital. The Company expects the goodwill arising from the acquisition to be tax deductible. ​ No acquisitions occurred during the first quarter of 2024 or 2023. The following table summarizes the acquisition date fair value of net assets acquired from the Company’s acquisitions during the second quarter of 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 (millions) 2024 ​ 2023 Net tangible assets (liabilities) acquired ​ ​ $0.1 ​ ​ ​ $9.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identifiable intangible assets ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ 11.0 ​ ​ ​ 35.7 ​ Trademarks ​ 1.8 ​ ​ ​ - ​ Other technology ​ ​ 1.6 ​ ​ ​ 21.6 ​ Total intangible assets ​ 14.4 ​ ​ ​ 57.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ 22.8 ​ ​ ​ 38.7 ​ Total aggregate purchase price ​ 37.3 ​ ​ ​ 105.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Acquisition-related liabilities and contingent consideration ​ (2.0) ​ ​ ​ (4.8) ​ Net cash paid for acquisitions, including acquisition-related ​ ​ ​ ​ ​ ​ ​ ​ liabilities and contingent consideration ​ ​ $35.3 ​ ​ ​ $100.6 ​ ​ During the first six months of 2024, the Company recorded adjustments associated with the finalization of the purchase accounting for its 2023 acquisitions. As a result of these purchase accounting adjustments, the Company made $3.5 million of acquisition-related payments, acquisition-related net liabilities decreased by $3.5 million, net tangible assets acquired decreased by $0.7 million, definite-lived intangible assets increased by $1.0 million, and goodwill decreased by $0.3 million. ​ The weighted average useful life of identifiable intangible assets acquired during the first six months of 2024 and 2023 were 9 years and 12 years , respectively.

BALANCE SHEET INFORMATION

BALANCE SHEET INFORMATION	6 Months Ended
	Jun. 30, 2024
BALANCE SHEET INFORMATION
BALANCE SHEET INFORMATION	5. BALANCE SHEETS INFORMATION ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 ​ December 31 (millions) 2024 ​ 2023 Accounts receivable, net ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable ​ ​ $3,010.5 ​ ​ ​ $2,983.2 ​ Allowance for expected credit losses and other accruals ​ ​ (134.2) ​ ​ ​ (149.0) ​ Total ​ ​ $2,876.3 ​ ​ ​ $2,834.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Inventories ​ ​ ​ ​ ​ ​ ​ ​ Finished goods ​ ​ $966.2 ​ ​ ​ $911.4 ​ Raw materials and parts ​ ​ 639.2 ​ ​ ​ 704.7 ​ Inventories at FIFO cost ​ ​ 1,605.4 ​ ​ ​ 1,616.1 ​ FIFO cost to LIFO cost difference ​ ​ (99.5) ​ ​ ​ (118.9) ​ Total ​ ​ $1,505.9 ​ ​ ​ $1,497.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other current assets ​ ​ ​ ​ ​ ​ ​ ​ Prepaid assets ​ ​ $144.0 ​ ​ ​ $143.9 ​ Taxes receivable ​ ​ 166.1 ​ ​ ​ 186.9 ​ Derivative assets ​ ​ 6.1 ​ ​ ​ 3.3 ​ Other ​ ​ 104.3 ​ ​ ​ 59.1 ​ Total ​ ​ $420.5 ​ ​ ​ $393.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ $151.5 ​ ​ ​ $155.6 ​ Buildings and leasehold improvements ​ ​ 1,138.1 ​ ​ ​ 1,171.0 ​ Machinery and equipment ​ ​ 2,132.0 ​ ​ ​ 2,113.8 ​ Merchandising and customer equipment ​ ​ 2,813.8 ​ ​ ​ 2,758.4 ​ Capitalized software ​ ​ 1,016.5 ​ ​ ​ 985.9 ​ Construction in progress ​ ​ 464.4 ​ ​ ​ 470.1 ​ ​ ​ ​ 7,716.3 ​ ​ ​ 7,654.8 ​ Accumulated depreciation ​ ​ (4,299.4) ​ ​ ​ (4,180.2) ​ Total ​ ​ $3,416.9 ​ ​ ​ $3,474.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other intangible assets, net ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets not subject to amortization ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ $1,230.0 ​ ​ ​ $1,230.0 ​ Intangible assets subject to amortization ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ ​ 3,204.4 ​ ​ ​ 3,385.1 ​ Patents ​ ​ 503.4 ​ ​ ​ 503.6 ​ Trademarks ​ ​ 370.1 ​ ​ ​ 406.5 ​ Other technologies ​ ​ 524.1 ​ ​ ​ 551.2 ​ ​ ​ ​ 4,602.0 ​ ​ ​ 4,846.4 ​ Accumulated amortization ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ ​ (1,737.1) ​ ​ ​ (1,805.0) ​ Patents ​ ​ (330.0) ​ ​ ​ (319.4) ​ Trademarks ​ ​ (221.1) ​ ​ ​ (238.0) ​ Other technologies ​ ​ (209.8) ​ ​ ​ (220.5) ​ ​ ​ ​ (2,498.0) ​ ​ ​ (2,582.9) ​ Net intangible assets subject to amortization ​ ​ 2,104.0 ​ ​ ​ 2,263.5 ​ Total ​ ​ $3,334.0 ​ ​ ​ $3,493.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ Deferred income taxes ​ ​ $121.3 ​ ​ ​ $119.3 ​ Pension ​ ​ 124.1 ​ ​ ​ 118.4 ​ Derivative asset ​ ​ 32.8 ​ ​ ​ 23.6 ​ Other ​ ​ 285.5 ​ ​ ​ 271.4 ​ Total ​ ​ $563.7 ​ ​ ​ $532.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 ​ December 31 (millions) 2024 ​ 2023 Other current liabilities ​ ​ ​ ​ ​ ​ ​ ​ Discounts and rebates ​ ​ $446.4 ​ ​ ​ $438.8 ​ Dividends payable ​ ​ 162.2 ​ ​ ​ 162.7 ​ Interest payable ​ ​ 71.4 ​ ​ ​ 68.5 ​ Taxes payable, other than income ​ ​ 151.4 ​ ​ ​ 153.2 ​ Derivative liability ​ ​ 3.2 ​ ​ ​ 3.7 ​ Restructuring ​ ​ 38.5 ​ ​ ​ 48.9 ​ Contract liability ​ ​ 106.1 ​ ​ ​ 110.9 ​ Operating lease liabilities ​ ​ 132.0 ​ ​ ​ 126.1 ​ Other ​ ​ 299.6 ​ ​ ​ 222.1 ​ Total ​ ​ $1,410.8 ​ ​ ​ $1,334.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ Unrealized (loss) gain on derivative financial instruments, net of tax ​ ​ $3.2 ​ ​ ​ ($4.1) ​ Unrecognized pension and postretirement benefit expense, net of tax ​ ​ (532.6) ​ ​ ​ (534.7) ​ Cumulative translation, net of tax ​ ​ (1,370.0) ​ ​ ​ (1,311.6) ​ Total ​ ​ ($1,899.4) ​ ​ ​ ($1,850.4) ​ ​

DEBT AND INTEREST

DEBT AND INTEREST	6 Months Ended
	Jun. 30, 2024
DEBT AND INTEREST
DEBT AND INTEREST	6. DEBT AND INTEREST ​ Short-term Debt ​ The following table provides the components of the Company’s short-term debt obligations as of June 30, 2024 and December 31, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 ​ December 31 (millions) 2024 ​ 2023 Short-term debt ​ ​ ​ ​ ​ ​ ​ ​ Notes payable ​ ​ $3.5 ​ ​ ​ $1.8 ​ Long-term debt, current maturities ​ ​ 2.4 ​ ​ ​ 628.6 ​ Total ​ ​ $5.9 ​ ​ ​ $630.4 ​ ​ Lines of Credit ​ As of June 30, 2024, the Company has a $2.0 billion multi-year revolving credit facility which expires in April 2026. The credit facility has been established with a diverse syndicate of banks and supports the Company’s U.S. and Euro commercial paper programs. There were no borrowings under the Company’s credit facility as of either June 30, 2024 or December 31, 2023. ​ Commercial Paper ​ The Company’s commercial paper program is used as a potential source of liquidity and consists of a $2.0 billion U.S. commercial paper program and a $2.0 billion Euro commercial paper program. The maximum aggregate amount of commercial paper that may be issued by the Company under its commercial paper programs may not exceed $2.0 billion. ​ The Company had no outstanding commercial paper under its U.S. and Euro commercial paper programs as of June 30, 2024 or December 31, 2023. ​ Notes Payable ​ The Company’s notes payable consists of uncommitted credit lines with major international banks and financial institutions, primarily to support global cash pooling structures. As of June 30, 2024 and December 31, 2023, the Company had $3.5 million and $1.8 million, respectively, outstanding under these credit lines. ​ Long-term Debt ​ The following table provides the components of the Company’s long-term debt obligations, including current maturities, as of June 30, 2024 and December 31, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturity ​ June 30 ​ December 31 (millions) ​ by Year ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public notes (2024 principal amount) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Seven year 2016 senior notes ( €575 million) ​ 2024 ​ ​ $- ​ ​ ​ $625.9 ​ Ten year 2015 senior notes ( €575 million) ​ 2025 ​ ​ 623.1 ​ ​ ​ 625.1 ​ Ten year 2016 senior notes ( $750 million) ​ 2026 ​ ​ 728.5 ​ ​ ​ 728.2 ​ Ten year 2017 senior notes ( $500 million) ​ 2027 ​ ​ 445.6 ​ ​ ​ 448.3 ​ Six Year 2021 senior notes ( $500 million) ​ 2027 ​ ​ 497.8 ​ ​ ​ 497.4 ​ Five Year 2022 senior notes ( $500 million) ​ 2028 ​ ​ 494.9 ​ ​ ​ 494.2 ​ Ten year 2020 senior notes ( $698 million) ​ 2030 ​ ​ 652.5 ​ ​ ​ 662.7 ​ Ten year 2020 senior notes ( $600 million) ​ 2031 ​ ​ 556.6 ​ ​ ​ 561.0 ​ Eleven year 2021 senior notes ( $650 million) ​ 2032 ​ ​ 645.5 ​ ​ ​ 645.2 ​ Thirty year 2011 senior notes ( $389 million) ​ 2041 ​ ​ 384.9 ​ ​ ​ 384.7 ​ Thirty year 2016 senior notes ( $200 million) ​ 2046 ​ ​ 197.4 ​ ​ ​ 197.4 ​ Thirty year 2017 senior notes ( $484 million) ​ 2047 ​ ​ 427.5 ​ ​ ​ 426.8 ​ Thirty year 2020 senior notes ( $500 million) ​ 2050 ​ ​ 491.2 ​ ​ ​ 491.1 ​ Thirty year 2021 senior notes ( $850 million) ​ 2051 ​ ​ 839.5 ​ ​ ​ 839.3 ​ Thirty-four year 2021 senior notes ( $685 million) ​ 2055 ​ ​ 540.2 ​ ​ ​ 539.2 ​ Finance lease obligations and other ​ ​ ​ ​ 16.0 ​ ​ ​ 13.5 ​ Total debt ​ ​ ​ ​ 7,541.2 ​ ​ ​ 8,180.0 ​ Long-term debt, current maturities ​ ​ ​ ​ (2.4) ​ ​ ​ (628.6) ​ Total long-term debt ​ ​ ​ ​ $7,538.8 ​ ​ ​ $7,551.4 ​ ​ Public Notes ​ The Company’s public notes may be redeemed by the Company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium. Upon the occurrence of a change of control accompanied by a downgrade of the public notes below investment grade rating, within a specified time period, the Company would be required to offer to repurchase the public notes at a price equal to 101% of the aggregate principal amount thereof, plus any accrued and unpaid interest to the date of repurchase. The public notes are senior unsecured and unsubordinated obligations of the Company and rank equally with all other senior and unsubordinated indebtedness of the Company. ​ Covenants ​ The Company is in compliance with all covenants under the Company’s outstanding indebtedness as of June 30, 2024. ​ Net Interest Expense ​ Interest expense and interest income recognized during the second quarter and first six months of 2024 and 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ 2023 ​ 2024 ​ 2023 ​ Interest expense ​ ​ $80.2 ​ ​ ​ $82.7 ​ ​ $174.7 ​ ​ ​ $162.8 ​ Interest income ​ (1.4) ​ ​ ​ (4.9) ​ (24.3) ​ ​ ​ (10.8) Interest expense, net ​ ​ $78.8 ​ ​ ​ $77.8 ​ ​ $150.4 ​ ​ ​ $152.0 ​ ​ ​ Interest expense generally includes the expense associated with the interest on the Company’s outstanding borrowings, including the impact of the Company’s interest rate swap agreements. Interest expense also includes the amortization of debt issuance costs and debt discounts, which are both recognized over the term of the related debt.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	7. GOODWILL AND OTHER INTANGIBLE ASSETS ​ Goodwill ​ Goodwill arises from the Company’s acquisitions and represents the excess of the fair value of the purchase consideration exchanged over the fair value of net assets acquired. The Company’s reporting units are its eight operating segments. The Company assesses goodwill for impairment on an annual basis during the second quarter. If circumstances change or events occur that demonstrate it is more likely than not that the carrying amount of a reporting unit exceeds its fair value, the Company completes an interim goodwill assessment of that reporting unit prior to the next annual assessment. If the results of an annual or interim goodwill assessment demonstrate the carrying amount of a reporting unit is greater than its fair value, the Company will recognize an impairment loss for the amount by which the reporting unit’s carrying amount exceeds its fair value, but not to exceed the carrying amount of goodwill assigned to that reporting unit. ​ During the second quarter of 2024, the Company completed its annual goodwill impairment assessment for its reporting units using discounted cash flow analyses that incorporated assumptions regarding future growth rates, terminal values and discount rates. The global surgical solutions business that is held for sale was assessed separately for impairment as a disposal group. The Company’s goodwill impairment assessments for 2024 indicated the estimated fair values of each of these eight reporting units and the disposal group exceeded the carrying amounts of the respective reporting unit by a significant margin. There has been no impairment of goodwill in any of the periods presented. ​ The changes in the carrying amount of goodwill for each of the Company's reportable segments during the second quarter ended June 30, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Global ​ Global ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Institutional ​ Healthcare & ​ Pest ​ ​ ​ ​ ​ ​ ​ ​ (millions) Industrial & Specialty Life Sciences ​ Elimination ​ Other Total ​ December 31, 2023 ​ ​ $4,140.6 ​ ​ $610.0 ​ ​ $3,158.4 ​ ​ $- ​ ​ $239.2 ​ ​ $8,148.2 ​ ​ Segment changes (a) ​ ​ 102.9 ​ ​ - ​ ​ - ​ ​ 136.3 ​ ​ (239.2) ​ ​ - ​ ​ December 31, 2023 recast ​ ​ 4,243.5 ​ ​ 610.0 ​ ​ 3,158.4 ​ ​ 136.3 ​ ​ - ​ ​ 8,148.2 ​ ​ Current year business combinations ​ ​ - ​ ​ - ​ ​ - ​ ​ 22.8 ​ ​ - ​ ​ 22.8 ​ ​ Prior year business combinations (b) ​ ​ (0.3) ​ ​ - ​ ​ - ​ ​ - ​ ​ - ​ ​ (0.3) ​ ​ Transferred to held for sale ​ ​ - ​ ​ - ​ ​ (305.0) ​ ​ - ​ ​ - ​ ​ (305.0) ​ ​ Effect of foreign currency translation ​ ​ (38.8) ​ ​ (0.4) ​ ​ (4.5) ​ ​ (0.1) ​ ​ - ​ ​ (43.8) ​ ​ June 30, 2024 ​ ​ $4,204.4 ​ ​ $609.6 ​ ​ $2,848.9 ​ ​ $159.0 ​ ​ $- ​ ​ $7,821.9 ​ ​ ​ (a) Relates to reclassifications made to reportable segments in the current year. Effective January 1, 2024, the Company’s former Textile Care and Colloidal Technologies Group (“CTG”) operating segments are now part of the Water operating segment which continues to remain in the Global Industrial reportable segment. Additionally, the Pest Elimination operating segment, formerly aggregated with the Textile Care and CTG operating segments within Other, is now reported as the stand-alone Global Pest Elimination reportable segment. After these changes, the Company has eight operating segments aligned with eight reporting units. Refer to Note 16 for further information. (b) Represents purchase accounting adjustments associated with 2023 acquisitions. ​ Other Intangible Assets ​ The Nalco trade name is the Company’s only indefinite life intangible asset, which is tested for impairment on an annual basis during the second quarter. During the second quarter of 2024, the Company completed its annual impairment assessment of the Nalco trade name using the relief from royalty discounted cash flow method, which incorporates assumptions regarding future sales projections, royalty rates and discount rates. The Company’s Nalco trade name impairment assessment for 2024 indicated the estimated fair value of the Nalco trade name exceeded its $1.2 billion carrying amount by a significant margin. There has been no impairment of the Nalco trade name intangible since it was acquired. ​ The Company’s intangible assets subject to amortization include customer relationships, trademarks, patents and other technologies primarily acquired through business acquisitions. The fair value of intangible assets acquired in business acquisitions are estimated primarily using discounted cash flow valuation methods at the time of acquisition. Intangible assets are amortized on a straight-line basis over their estimated lives. Total amortization expense related to intangible assets during the second quarter of 2024 and 2023 was $75.1 million and $76.8 million, respectively, and during the first six months of 2024 and 2023 was $152.9 million and $152.4 million, respectively. Amortization expense related to intangible assets for the remaining six-month period of 2024 is expected to be approximately $151 million.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	8. FAIR VALUE MEASUREMENTS ​ The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, contingent consideration obligations, commercial paper, notes payable, foreign currency forward contracts, interest rate swap agreements, cross-currency swap derivative contracts and long-term debt. ​ Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. A hierarchy has been established for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs be used when available. The hierarchy is broken down into three levels: ​ Level 1 - Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2 - Inputs include observable inputs other than quoted prices in active markets. Level 3 - Inputs are unobservable inputs for which there is little or no market data available. ​ The carrying amount and the estimated fair value for assets and liabilities measured on a recurring basis were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2024 (millions) ​ Carrying ​ Fair Value Measurements ​ Amount Level 1 ​ Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts $27.6 ​ ​ ​ $- ​ ​ $27.6 ​ ​ $- ​ Cross-currency swap derivative contracts ​ ​ 42.1 ​ ​ ​ - ​ ​ ​ 42.1 ​ ​ ​ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ 24.6 ​ ​ ​ - ​ ​ ​ 24.6 ​ ​ ​ - ​ Interest rate swap agreements ​ ​ 163.4 ​ ​ ​ - ​ ​ ​ 163.4 ​ ​ ​ - ​ Cross-currency swap derivative contracts ​ ​ 21.2 ​ ​ ​ - ​ ​ ​ 21.2 ​ ​ ​ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 (millions) ​ Carrying ​ Fair Value Measurements ​ Amount Level 1 ​ Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts $26.6 ​ ​ ​ $- ​ ​ $26.6 ​ ​ $- ​ Cross-currency swap derivative contracts ​ ​ 29.1 ​ ​ ​ - ​ ​ ​ 29.1 ​ ​ ​ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ 27.0 ​ ​ ​ - ​ ​ ​ 27.0 ​ ​ ​ - ​ Interest rate swap agreements ​ ​ 146.5 ​ ​ ​ - ​ ​ ​ 146.5 ​ ​ ​ - ​ Cross-currency swap derivative contracts ​ ​ 24.9 ​ ​ ​ - ​ ​ ​ 24.9 ​ ​ ​ - ​ ​ The carrying value of foreign currency forward contracts is at fair value, which is determined based on foreign currency exchange rates as of the balance sheet date and classified within Level 2. The carrying value of interest rate swap agreements is at fair value, which is determined based on current forward interest rates as of the balance sheet date and are classified within Level 2. The cross-currency swap derivative contracts are used to partially hedge the Company’s net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the Euro and the U.S. dollar and CNH (CNH is the Chinese Yuan traded in the offshore market). The carrying value of the cross-currency swap derivative contracts is at fair value, which is determined based on the income approach with the relevant interest rates and foreign currency current exchange rates and forward curves as inputs as of the balance sheet date and are classified within Level 2. For purposes of fair value disclosure above, derivative values are presented gross. Further discussion of gross versus net presentation of the Company's derivatives is within Note 9. ​ Contingent consideration obligations are recognized and measured at fair value at the acquisition date and thereafter until settlement or expiration. Contingent consideration is classified within Level 3 as the underlying fair value is determined using income-based valuation approaches appropriate for the terms and conditions of each respective contingent consideration. The consideration expected to be transferred is based on the Company’s expectations of various financial measures. The ultimate payment of contingent consideration could deviate from current estimates based on the actual results of these financial measures. Contingent consideration was not material to the Company’s consolidated financial statements. ​ The carrying values of accounts receivable, accounts payable, cash and cash equivalents, commercial paper and notes payable approximate fair value because of their short maturities and as such are classified within Level 1. ​ The fair value of long-term debt is based on quoted market prices for the same or similar debt instruments (classified as Level 2). The carrying amount, which includes adjustments related to the impact of interest rate swap agreements, premiums and discounts, and deferred debt issuance costs, and the estimated fair value of long-term debt, including current maturities, held by the Company were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2024 ​ December 31, 2023 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Amount Value Amount Value Long-term debt, including current maturities ​ ​ $7,541.2 ​ ​ ​ $6,660.2 ​ ​ ​ $8,180.0 ​ ​ ​ $7,552.5 ​

DERIVATIVES AND HEDGING TRANSAC

DERIVATIVES AND HEDGING TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
DERIVATIVES AND HEDGING TRANSACTIONS
DERIVATIVES AND HEDGING TRANSACTIONS	9. DERIVATIVES AND HEDGING TRANSACTIONS ​ The Company uses foreign currency forward contracts, interest rate swap agreements, cross-currency swap derivative contracts and foreign currency debt to manage risks associated with foreign currency exchange rates, interest rates and net investments in foreign operations. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. The Company records derivatives as assets and liabilities in the Consolidated Balance Sheets at fair value. Changes in fair value are recognized immediately in earnings unless the derivative qualifies and is designated as a hedge. Cash flows from derivatives are classified in the Consolidated Statements of Cash Flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships. The Company evaluates hedge effectiveness at inception and on an ongoing basis. If a derivative is no longer expected to be effective, hedge accounting is discontinued. ​ The Company is exposed to credit risk in the event of nonperformance of counterparties for foreign currency forward exchange contracts and interest rate swap agreements. The Company monitors its exposure to credit risk by using credit approvals and credit limits and by selecting major global banks and financial institutions as counterparties. The Company does not anticipate nonperformance by any of these counterparties, and therefore, recording a valuation allowance against the Company’s derivative balance is not considered necessary. ​ Derivative Positions Summary ​ Certain of the Company’s derivative transactions are subject to master netting arrangements that allow the Company to net settle contracts with the same counterparties. These arrangements generally do not call for collateral and as of the applicable dates presented in the following table, no cash collateral had been received or pledged related to the underlying derivatives. ​ The respective net amounts are included in other current assets, other assets, other current liabilities and other liabilities on the Consolidated Balance Sheets. ​ The following table summarizes the gross fair value and the net value of the Company’s outstanding derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Assets Derivative Liabilities ​ ​ ​ June 30 ​ December 31 ​ June 30 ​ December 31 ​ (millions) ​ 2024 ​ 2023 2024 ​ 2023 Derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ $10.9 ​ ​ ​ $6.7 ​ ​ $3.3 ​ ​ ​ $5.2 ​ Interest rate swap agreements ​ ​ ​ - ​ ​ ​ - ​ ​ 163.4 ​ ​ ​ 146.5 ​ Cross-currency swap derivative contracts ​ ​ ​ 42.1 ​ ​ ​ 29.1 ​ ​ 21.2 ​ ​ ​ 24.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ 16.7 ​ ​ ​ 19.9 ​ ​ 21.3 ​ ​ ​ 21.8 ​ Gross value of derivatives ​ ​ ​ 69.7 ​ ​ ​ 55.7 ​ ​ 209.2 ​ ​ ​ 198.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amounts offset in the Consolidated Balance Sheets ​ ​ ​ (30.8) ​ ​ ​ (28.8) ​ ​ (30.8) ​ ​ ​ (28.8) ​ Net value of derivatives ​ ​ ​ $38.9 ​ ​ ​ $26.9 ​ ​ $178.4 ​ ​ ​ $169.6 ​ ​ The following table summarizes the notional values of the Company’s outstanding derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Values ​ ​ ​ June 30 ​ ​ December 31 (millions) ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ $4,050 ​ ​ ​ $3,745 ​ Interest rate swap agreements ​ ​ 1,500 ​ ​ ​ 1,500 ​ Cross-currency swap derivative contracts ​ ​ 1,291 ​ ​ ​ 998 ​ ​ ​ Cash Flow Hedges ​ The Company utilizes foreign currency forward contracts to hedge the effect of foreign currency exchange rate fluctuations on forecasted foreign currency transactions, including inventory purchases and intercompany royalty, intercompany loans, management fee and other payments. These forward contracts are designated as cash flow hedges. The changes in fair value of these contracts are recorded in accumulated other comprehensive income (loss) (“AOCI”) until the hedged items affect earnings, at which time the gain or loss is reclassified into the same line item in the Consolidated Statements of Income as the underlying exposure being hedged. Cash flow hedged transactions impacting AOCI are forecasted to occur within the next year . For forward contracts designated as hedges of foreign currency exchange rate risk associated with forecasted foreign currency transactions, the Company excludes the changes in fair value attributable to time value from the assessment of hedge effectiveness. The initial value of the excluded component (i.e., the forward points) is amortized on a straight-line basis over the life of the hedging instrument and recognized in the same line item in the Consolidated Statements of Income as the underlying exposure being hedged for intercompany loans. For all other cash flow hedge types, the forward points are mark-to-market monthly and recognized in the same line item in the Consolidated Statements of Income as the underlying exposure being hedged. The difference between fair value changes of the excluded component and the amount amortized in the Consolidated Statements of Income is recorded in AOCI. ​ Fair Value Hedges ​ The Company manages interest expense using a mix of fixed and floating rate debt. To help manage exposure to interest rate movements and to reduce borrowing costs, the Company may enter into interest rate swaps under which the Company agrees to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed upon notional principal amount. The mark-to-market of these fair value hedges is recorded as gains or losses in interest (income) expense and is offset by the gain or loss of the underlying debt instrument, which also is recorded in interest (income) expense. These fair value hedges are highly effective and thus, there is no impact on earnings due to hedge ineffectiveness. ​ In aggregate, the Company has entered into a series of interest rate swap agreements to convert $1.5 billion of its debt from a fixed interest rate to a floating interest rate. The fixed interest rates range from 1.3% to 4.8% and mature between 2026 and 2031. These interest rate swap agreements are designated as fair value hedges. ​ The following amounts were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying amount of the hedged liabilities ​ ​ Cumulative amount of the fair value hedging adjustment included in the carrying amount of the hedged liabilities ​ ​ ​ Second Quarter Ended ​ ​ Second Quarter Ended ​ Line item in which the hedged item is included ​ June 30 ​ ​ June 30 ​ (millions) 2024 ​ 2023 ​ 2024 ​ 2023 Long-term debt ​ ​ $1,336.4 ​ ​ ​ $1,317.9 ​ ​ ​ ($166.0) ​ ​ ​ ($184.5) ​ ​ Net Investment Hedges ​ The Company designates its outstanding €575 million ( $624 million at the end of the second quarter of 2024) senior notes (“Euronotes”) and related accrued interest as a hedge of its Euro denominated exposures from the Company’s investments in certain of its Euro denominated functional currency subsidiaries. ​ In May of 2024, the Company entered into a cross-currency swap derivative contract with a notional amount of €300 million maturing in 2032. In aggregate, the Company maintains a series of Euro cross-currency swap derivative contracts maturing in 2026 and 2032. These cross-currency swap derivative contracts are designated as net investment hedge of the Company’s Euro denominated exposures from the Company’s investments in certain of its Euro denominated functional currency subsidiaries. The cross-currency swap derivative contracts exchange fixed-rate payments in one currency for fixed-rate payments in another currency. As of June 30, 2024, the Company had €925 million ( $991 million) cross-currency swap derivative contracts outstanding as a hedge of the Company’s net investment in foreign operations. The changes in the spot rate of these instruments are recorded in AOCI in stockholders’ equity, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in AOCI. Any ineffective portions of net investment hedges are reclassified from AOCI into earnings during the period of change. The interest income or expense from these swaps are recorded in interest expense on the accompanying Consolidated Statements of Income consistent with the classification of interest expense attributable to the underlying debt. ​ During 2023, the Company entered into CNH cross-currency swap derivative contracts with a notional amount of CNH 1,094 million and CNH 1,098 million, respectively, both maturing in 2032. The cross-currency swap derivative contracts are designated as net investment hedges of its Chinese Yuan (“CNY”) denominated exposures from the Company’s investments in certain CNY denominated functional currency subsidiaries. The cross-currency swap derivative contracts exchange fixed-rate payments in USD for fixed-rate payments in CNH. As of June 30, 2024, the Company had in aggregate, CNH 2,192 million ( $300 million) cross-currency swap derivative contracts outstanding as a hedge of the Company’s net investment in foreign operations. The changes in the spot rate of these instruments are recorded in AOCI in stockholders’ equity, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in AOCI. The interest income or expense from these swaps is recorded in interest expense on the accompanying Consolidated Statements of Income consistent with the classification of interest expense attributable to the underlying debt. The revaluation gains and losses on the Euronotes and cross-currency swap derivative contracts, which are designated and effective as hedges of the Company’s net investments, have been included as a component of the cumulative translation adjustment account, and were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 (millions) 2024 ​ 2023 ​ 2024 ​ 2023 Revaluation gain (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Euronotes ​ ​ ($1.9) ​ ​ ​ ($9.8) ​ ​ ​ $0.6 ​ ​ ​ ($24.9) ​ Cross-currency swap derivative contracts ​ ​ 5.2 ​ ​ ​ (14.0) ​ ​ ​ 11.6 ​ ​ ​ (15.6) ​ Total revaluation gain (loss), net of tax ​ ​ $3.3 ​ ​ ​ ($23.8) ​ ​ ​ $12.2 ​ ​ ​ ($40.5) ​ ​ Derivatives Not Designated as Hedging Instruments ​ The Company also uses foreign currency forward contracts to offset its exposure to the change in value of certain foreign currency denominated assets and liabilities held at foreign subsidiaries, primarily receivables and payables, which are remeasured at the end of each period. Although the contracts are effective economic hedges, they are not designated as accounting hedges. Therefore, changes in the value of these derivatives are recognized immediately in earnings, thereby offsetting the current earnings effect of the related foreign currency denominated assets and liabilities. ​ Effect of all Derivative Instruments on Income ​ The gain (loss) of all derivative instruments recognized in product and equipment cost of sales (“COS”), selling, general and administrative expenses (“SG&A”) and interest expense, net (“interest”) is summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ ​ ​ June 30 ​ ​ ​ 2024 ​ 2023 ​ (millions) ​ ​ COS ​ SG&A ​ Interest ​ ​ COS ​ SG&A ​ Interest ​ Gain (loss) on derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from AOCI to income ​ ​ $1.2 ​ $1.3 ​ $- ​ ​ ​ $2.8 ​ ($4.4) ​ $- ​ Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value ​ ​ - ​ - ​ - ​ ​ ​ - ​ - ​ 2.1 ​ Interest rate swap agreements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of (loss) gain reclassified from AOCI to income ​ ​ - ​ - ​ (0.4) ​ ​ ​ - ​ - ​ (0.4) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) on derivatives not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in income ​ ​ - ​ (5.4) ​ - ​ ​ ​ - ​ (3.5) ​ - ​ Total gain (loss) of all derivative instruments ​ ​ $1.2 ​ ($4.1) ​ ($0.4) ​ ​ ​ $2.8 ​ ($7.9) ​ $1.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30 ​ ​ ​ 2024 ​ 2023 ​ (millions) ​ ​ COS ​ SG&A ​ Interest ​ ​ COS ​ SG&A ​ Interest ​ Gain (loss) on derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from AOCI to income ​ ​ $1.2 ​ $2.0 ​ $- ​ ​ ​ $8.1 ​ ($10.4) ​ $- ​ Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value ​ ​ - ​ - ​ - ​ ​ ​ - ​ - ​ 4.1 ​ Interest rate swap agreements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of (loss) gain reclassified from AOCI to income ​ ​ - ​ - ​ (0.9) ​ ​ ​ - ​ - ​ (0.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) on derivatives not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in income ​ ​ - ​ (5.0) ​ - ​ ​ ​ - ​ (28.1) ​ - ​ Total gain (loss) of all derivative instruments ​ ​ $1.2 ​ ($3.0) ​ ($0.9) ​ ​ ​ $8.1 ​ ($38.5) ​ $3.2 ​ ​ ​ Subsequent Event ​ In July 2024, the Company entered into cross-currency swap derivative contracts with notional amounts of €200 million, €100 million and €100 million maturing in 2028, 2028 and 2026, respectively. These cross-currency swap derivative contracts are designated as net investment hedges of its Euro denominated exposures from the Company’s investments in certain of its Euro denominated functional currency subsidiaries.

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION	6 Months Ended
	Jun. 30, 2024
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION	10. OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION ​ Other comprehensive income (loss) includes net income, foreign currency translation adjustments, defined benefit pension and postretirement plan adjustments, gains and losses on derivative instruments designated and effective as cash flow hedges and non-derivative instruments designated and effective as foreign currency net investment hedges that are charged or credited to the accumulated other comprehensive loss account in shareholders’ equity. Refer to Note 9 for additional information related to the Company’s derivatives and hedging transactions. Refer to Note 14 for additional information related to the Company’s pension and postretirement benefits activity. ​ The following tables provide other comprehensive income information related to the Company’s derivatives and hedging instruments and pension and postretirement benefits: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ 2023 2024 ​ 2023 ​ Derivative and Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain (loss) on derivative and hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount recognized in AOCI ​ ​ $4.8 ​ ​ ​ ($1.6) ​ ​ $11.4 ​ ​ ​ ($6.7) ​ (Gain) loss reclassified from AOCI into income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ COS ​ ​ (1.2) ​ ​ ​ (2.8) ​ ​ (1.2) ​ ​ ​ (8.1) ​ SG&A ​ (1.3) ​ ​ ​ 4.4 ​ (2.0) ​ ​ ​ 10.4 ​ Interest (income) expense, net ​ ​ 0.4 ​ ​ ​ (1.7) ​ ​ 0.9 ​ ​ ​ (3.2) ​ ​ ​ (2.1) ​ ​ ​ (0.1) ​ (2.3) ​ ​ ​ (0.9) ​ Other activity ​ - ​ ​ ​ 1.1 ​ - ​ ​ ​ 1.2 ​ Tax impact ​ (0.5) ​ ​ ​ (0.9) ​ (1.8) ​ ​ ​ 0.2 ​ Net of tax ​ ​ $2.2 ​ ​ ​ ($1.5) ​ ​ $7.3 ​ ​ ​ ($6.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and Postretirement Benefits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount reclassified from AOCI into income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Settlement charge ​ ​ $- ​ ​ ​ $- ​ ​ $0.4 ​ ​ ​ $0.6 ​ Amortization of losses and prior period service credits, net ​ ​ 2.3 ​ ​ ​ 0.9 ​ ​ 4.0 ​ ​ ​ 2.5 ​ ​ ​ 2.3 ​ ​ ​ 0.9 ​ ​ 4.4 ​ ​ ​ 3.1 ​ Other activity ​ ​ (1.1) ​ ​ ​ (4.5) ​ ​ (0.2) ​ ​ ​ (6.1) ​ Tax impact ​ (1.3) ​ ​ ​ (0.7) ​ (2.0) ​ ​ ​ (1.1) ​ Net of tax ​ ​ ($0.1) ​ ​ ​ ($4.3) ​ ​ $2.2 ​ ​ ​ ($4.1) ​ ​ The following table summarizes the derivative and pension and postretirement benefit amounts reclassified from AOCI into income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ ​ 2024 ​ 2023 2024 ​ 2023 ​ (millions) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative (gain) loss reclassified from AOCI into income, net of tax ​ ​ ($1.6) ​ ​ ​ ($0.1) ​ ​ ($1.7) ​ ​ ​ ($0.7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and postretirement benefits amortization of losses and prior period service credits, net and settlement charges, reclassified from AOCI into income, net of tax ​ ​ (0.1) ​ ​ ​ (4.3) ​ ​ 2.2 ​ ​ ​ (4.1) ​ ​

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2024
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	11. SHAREHOLDERS’ EQUITY ​ Share Repurchase Authorization ​ In February 2015 and November 2022, the Company’s Board of Directors authorized the repurchase of up to 20,000,000 and 10,000,000 , respectively, additional shares of its common stock, including shares to be repurchased under Rule 10b5–1. As of June 30, 2024, 10,720,395 shares remained to be repurchased under the Company’s repurchase authorization. The Company intends to repurchase all shares under its authorization, for which no expiration date has been established, in open market or privately negotiated transactions, subject to market conditions. ​ Share Repurchases ​ During the first six months of 2024, the Company reacquired 2,285,183 shares of its common stock, of which 2,196,702 related to share repurchases through open market and 88,481 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units. ​ During the first six months of 2023, the Company reacquired 68,712 shares of its common stock related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units. ​ ​

EARNINGS ATTRIBUTABLE TO ECOLAB

EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE ("EPS")	6 Months Ended
	Jun. 30, 2024
EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE ("EPS")
EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE ("EPS")	12. EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE (“EPS”) ​ The difference in the weighted average common shares outstanding for calculating basic and diluted EPS is a result of the dilution associated with the Company’s equity compensation plans. As noted in the table below, certain stock options and units outstanding under these equity compensation plans were not included in the computation of diluted EPS because they would not have had a dilutive effect. ​ The computations of the basic and diluted EPS amounts were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions, except per share) 2024 2023 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Ecolab ​ ​ $490.9 ​ ​ ​ $329.7 ​ ​ ​ $903.0 ​ ​ ​ $563.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ 284.6 ​ ​ ​ 284.9 ​ ​ 285.2 ​ ​ ​ 284.8 ​ Effect of dilutive stock options and units ​ 2.4 ​ ​ ​ 1.4 ​ ​ 2.2 ​ ​ ​ 1.3 ​ Diluted ​ 287.0 ​ ​ ​ 286.3 ​ ​ ​ 287.4 ​ ​ ​ 286.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings attributable to Ecolab per common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic EPS ​ ​ $1.72 ​ ​ ​ $1.16 ​ ​ $3.17 ​ ​ ​ $1.98 ​ Diluted EPS ​ ​ $1.71 ​ ​ ​ $1.15 ​ ​ ​ $3.14 ​ ​ ​ $1.97 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive securities excluded from the computation of diluted EPS ​ - ​ ​ ​ 2.6 ​ ​ 1.5 ​ ​ ​ 3.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts do not necessarily sum due to rounding. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
INCOME TAXES
INCOME TAXES	13. INCOME TAXES ​ The Company’s tax rate was 16.2% and 20.6% for the second quarter of 2024 and 2023, respectively, and 13.1% and 19.5% for the first six months of 2024 and 2023, respectively. The change in the Company’s tax rate for the second quarter and first six months of 2024 compared to the second quarter and first six months of 2023 was driven primarily by the impact of discrete tax items and special (gains) and charges. Further information related to special (gains) and charges is included in Note 3. ​ The Company recognized net tax benefits related to discrete tax items of $10.3 million and $58.5 million in the second quarter and first six months of 2024, respectively. This included a tax benefit of $41.9 million in the first six months of 2024 associated with transferring certain intangible property between affiliates and $3.7 million and $12.3 million in the second quarter and first six months of 2024, respectively, associated with share-based compensation excess tax benefits. The remaining net benefit of $6.6 million and $4.3 million in the second quarter and first six months of 2024, respectively, is from other income tax adjustments including the impact of changes in tax laws, audit settlements, unrecognized tax benefits and other changes in estimates. ​ The Company recognized net tax expense related to discrete tax items of $2.8 million and a net tax benefit of $1.2 million in the second quarter and first six months of 2023, respectively. This included share-based compensation excess tax benefits of $1.8 million and $1.9 million in the second quarter and first six months of 2023, respectively. Additionally, the Company recognized discrete tax expense of $4.6 million and $0.7 million during the second quarter and first six months of 2023, respectively, primarily due to audit settlements, uncertain tax positions, prior year return adjustments, repricing of deferred tax balances, and other changes in estimates. ​ The Organization for Economic Co-operation’s (“OECD”) global minimum tax regime (“Pillar Two”) became effective in certain countries where the Company operates starting in 2024. As such, an estimate of Pillar Two tax has been considered within the provision for income taxes. The Company continues to monitor these legislative developments, but based on information available does not anticipate material impacts to the 2024 financial statements. ​ ​

PENSION AND POSTRETIREMENT PLAN

PENSION AND POSTRETIREMENT PLANS	6 Months Ended
	Jun. 30, 2024
PENSION AND POSTRETIREMENT PLANS
PENSION AND POSTRETIREMENT PLANS	14. PENSION AND POSTRETIREMENT PLANS ​ The Company has a non-contributory, qualified, defined benefit pension plan covering the majority of its U.S. employees. The Company also has non-contributory, non-qualified, defined benefit pension plans, which provide for benefits to employees in excess of limits permitted under its U.S. pension plans. Various international subsidiaries also have defined benefit pension plans. The Company also provides postretirement health care and life insurance benefits to certain U.S. employees and retirees. ​ The components of net periodic pension and postretirement health care benefit expense for the second quarter ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ International ​ U.S. Postretirement ​ ​ ​ Pension ​ Pension ​ Health Care ​ (millions) 2024 ​ 2023 2024 ​ 2023 2024 ​ 2023 Service cost ​ ​ $11.6 ​ ​ ​ $10.6 ​ ​ $4.9 ​ ​ ​ $5.4 ​ ​ $0.1 ​ ​ ​ $0.1 ​ Interest cost on benefit obligation ​ 21.8 ​ ​ ​ 22.0 ​ ​ 12.2 ​ ​ ​ 11.6 ​ ​ 1.3 ​ ​ ​ 1.4 ​ Expected return on plan assets ​ (37.7) ​ ​ ​ (36.3) ​ ​ (12.5) ​ ​ ​ (14.0) ​ ​ - ​ ​ ​ - ​ Recognition of net actuarial loss (gain) ​ ​ 1.5 ​ ​ ​ - ​ ​ 2.8 ​ ​ ​ 3.3 ​ ​ (0.8) ​ ​ ​ (0.8) ​ Amortization of prior service benefit ​ ​ (1.1) ​ ​ ​ (1.5) ​ ​ (0.1) ​ ​ ​ (0.1) ​ ​ - ​ ​ ​ - ​ Total expense (benefit) ​ ​ ($3.9) ​ ​ ​ ($5.2) ​ ​ $7.3 ​ ​ ​ $6.2 ​ ​ $0.6 ​ ​ ​ $0.7 ​ ​ The components of net periodic pension and postretirement health care benefit expense for the six months ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ International ​ U.S. Postretirement ​ ​ ​ Pension ​ Pension ​ Health Care ​ (millions) 2024 ​ 2023 2024 ​ 2023 2024 ​ 2023 Service cost ​ ​ $23.2 ​ ​ ​ $20.8 ​ ​ $9.8 ​ ​ ​ $10.8 ​ ​ $0.2 ​ ​ ​ $0.2 ​ Interest cost on benefit obligation ​ ​ 43.6 ​ ​ ​ 44.0 ​ ​ 24.6 ​ ​ ​ 23.0 ​ ​ 2.6 ​ ​ ​ 2.8 ​ Expected return on plan assets ​ ​ (75.4) ​ ​ ​ (72.6) ​ ​ (25.0) ​ ​ ​ (27.8) ​ ​ - ​ ​ ​ - ​ Recognition of net actuarial loss (gain) ​ ​ 3.0 ​ ​ ​ - ​ ​ 5.0 ​ ​ ​ 6.8 ​ ​ (1.6) ​ ​ ​ (1.6) ​ Amortization of prior service benefit ​ ​ (2.2) ​ ​ ​ (2.5) ​ ​ (0.2) ​ ​ ​ (0.2) ​ ​ - ​ ​ ​ - ​ Curtailments and settlements ​ ​ 0.4 ​ ​ ​ 0.7 ​ ​ - ​ ​ ​ - ​ ​ - ​ ​ ​ (0.1) ​ Total expense (benefit) ​ ​ ($7.4) ​ ​ ​ ($9.6) ​ ​ $14.2 ​ ​ ​ $12.6 ​ ​ $1.2 ​ ​ ​ $1.3 ​ ​ Service cost is included as employee compensation cost in either cost of sales or selling, general and administrative expenses on the Consolidated Statements of Income based on employee roles, while non-service components are included in other (income) expense in the Consolidated Statements of Income. ​ As of June 30, 2024, the Company is in compliance with all funding requirements of each of its defined benefit plans. ​ During the first six months of 2024, the Company made contributions of $4 million to its U.S. non-contributory non-qualified defined benefit plans and estimates it will contribute an additional $5 million to such plans during the remainder of 2024. During the first six months of 2024, the Company made contributions of $21 million to its international pension plans and estimates it will contribute an additional $24 million to such plans during the remainder of 2024. ​ During the first six months of 2024, the Company made contributions of $6 million to its U.S. postretirement health care plans and estimates it will contribute an additional $5 million to such plans during the remainder of 2024.

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2024
REVENUES
REVENUES	15. REVENUES ​ Revenue Recognition ​ Product and Sold Equipment ​ Product revenue is generated from sales of cleaning, sanitizing, water treatment, process treatment and colloidal silica products. In addition, the Company sells equipment which may be used in combination with its specialized products. Revenue recognized from product and equipment sales is recognized at the point in time when the obligations in the contract with the customer are satisfied, which generally occurs with the transfer of the product or delivery of the equipment. ​ On June 3, 2020, the Company completed the separation of its Upstream Energy business (“ChampionX”). The Company entered into an agreement with ChampionX to provide, receive or transfer certain products for a transitionary period. Transitionary period sales of product to ChampionX under the agreement are recorded in product and equipment sales in the Corporate segment along with the related cost of sales, while purchases from ChampionX are recorded in inventory. The remaining sales to ChampionX are recorded in product and equipment sales in the Global Industrial segment along with the related cost of sales. ​ Service and Lease Equipment ​ Service and lease equipment revenue is generated from providing services or leasing equipment to customers. Service offerings include installing or repairing certain types of equipment, activities that supplement or replace headcount at the customer location, or fulfilling deliverables included in the contract. Global Industrial segment services are associated with water treatment and paper process applications. Global Institutional & Specialty segment services include cleaning and sanitizing programs and wash process solutions. Global Healthcare & Life Sciences segment services include pharmaceutical, personal care, infection and containment control solutions. Revenues included in Global Pest Elimination primarily relate to services designed to detect, eliminate and prevent pests. Service revenue is recognized over time utilizing an input method and aligns with when the services are provided. Typically, revenue is recognized over time using costs incurred to date because the effort provided by the field selling and service organization represents services provided, which corresponds with the transfer of control. Revenue recognized from leased equipment primarily relates to warewashing and water treatment equipment recognized on a straight-line basis over the length of the lease contract pursuant to Topic 842 Leases. ​ The Company’s operating lease revenue was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ June 30 ​ June 30 (millions) ​ 2024 ​ 2023 ​ 2024 ​ 2023 Operating lease revenue* ​ ​ $131.6 ​ ​ ​ $128.7 ​ ​ ​ $264.8 ​ ​ ​ $255.1 ​ ​ *Includes immaterial variable lease revenue ​ The following table shows principal activities, separated by reportable segments, from which the Company generates its revenue. The Corporate segment includes sales to ChampionX under the transitional supply agreement entered into as part of the ChampionX Separation. For more information about the Company’s reportable segments, refer to Note 16. Net sales at public exchange rates by reportable segment are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended Six Months Ended ​ ​ June 30 June 30 (millions) 2024 ​ 2023 2024 ​ 2023 Global Industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ $1,702.7 ​ ​ ​ $1,683.1 ​ ​ $3,315.2 ​ ​ ​ $3,275.4 Service and lease equipment ​ 233.8 ​ ​ ​ 226.4 ​ ​ 460.5 ​ ​ ​ 443.2 Global Institutional & Specialty ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ 1,109.9 ​ ​ ​ 1,047.2 ​ ​ 2,131.3 ​ ​ ​ 1,968.0 ​ Service and lease equipment ​ ​ 254.0 ​ ​ ​ 225.0 ​ ​ 499.3 ​ ​ ​ 433.0 ​ Global Healthcare & Life Sciences ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ 360.5 ​ ​ ​ 363.9 ​ ​ 713.1 ​ ​ ​ 716.5 ​ Service and lease equipment ​ ​ 29.2 ​ ​ ​ 26.9 ​ ​ 56.5 ​ ​ ​ 54.0 ​ Global Pest Elimination ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ - ​ ​ ​ - ​ ​ - ​ ​ ​ - ​ Service and lease equipment ​ ​ 295.7 ​ ​ ​ 269.0 ​ ​ 561.8 ​ ​ ​ 512.4 ​ Corporate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ - ​ ​ ​ 10.6 ​ ​ - ​ ​ ​ 21.2 ​ Service and lease equipment ​ ​ - ​ ​ ​ - ​ ​ - ​ ​ ​ - ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total product and sold equipment ​ ​ $3,173.1 ​ ​ ​ $3,104.8 ​ ​ $6,159.6 ​ ​ ​ $5,981.1 ​ Total service and lease equipment ​ ​ $812.7 ​ ​ ​ $747.3 ​ ​ $1,578.1 ​ ​ ​ $1,442.6 ​ ​ Net sales at public exchange rates by geographic region for the second quarter ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Global Institutional ​ Global Healthcare ​ Global Pest ​ ​ ​ ​ ​ Industrial ​ & Specialty ​ & Life Sciences ​ Elimination ​ Corporate ​ ​ 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ $830.3 ​ ​ ​ $806.0 ​ ​ $960.9 ​ ​ ​ $879.8 ​ ​ $147.6 ​ ​ ​ $154.6 ​ ​ $206.8 ​ ​ ​ $185.9 ​ ​ $- ​ ​ ​ $9.6 ​ Europe ​ 410.6 ​ ​ ​ 414.3 ​ ​ 179.3 ​ ​ ​ 174.7 ​ ​ 187.0 ​ ​ ​ 186.2 ​ ​ 46.4 ​ ​ ​ 42.8 ​ ​ - ​ ​ ​ 0.7 ​ Asia Pacific ​ 230.8 ​ ​ ​ 238.9 ​ ​ 59.5 ​ ​ ​ 58.4 ​ ​ 26.5 ​ ​ ​ 22.5 ​ ​ 8.0 ​ ​ ​ 7.2 ​ ​ - ​ ​ ​ 0.1 ​ Latin America ​ 197.6 ​ ​ ​ 182.9 ​ ​ 46.8 ​ ​ ​ 47.6 ​ ​ 5.9 ​ ​ ​ 6.6 ​ ​ 15.0 ​ ​ ​ 14.2 ​ ​ - ​ ​ ​ 0.2 ​ Greater China ​ ​ 100.5 ​ ​ ​ 104.4 ​ ​ 40.5 ​ ​ ​ 40.5 ​ ​ 13.8 ​ ​ ​ 12.9 ​ ​ 14.9 ​ ​ ​ 14.5 ​ ​ - ​ ​ ​ - ​ India, Middle East and Africa ​ ​ 112.3 ​ ​ ​ 107.8 ​ ​ 17.8 ​ ​ ​ 17.2 ​ ​ 7.1 ​ ​ ​ 6.4 ​ ​ 1.7 ​ ​ ​ 1.7 ​ ​ - ​ ​ ​ - ​ Canada ​ ​ 54.4 ​ ​ ​ 55.2 ​ ​ 59.1 ​ ​ ​ 54.0 ​ ​ 1.8 ​ ​ ​ 1.6 ​ ​ 2.9 ​ ​ ​ 2.7 ​ ​ - ​ ​ ​ - ​ Total ​ ​ $1,936.5 ​ ​ ​ $1,909.5 ​ ​ $1,363.9 ​ ​ ​ $1,272.2 ​ ​ $389.7 ​ ​ ​ $390.8 ​ ​ $295.7 ​ ​ ​ $269.0 ​ ​ $- ​ ​ ​ $10.6 ​ ​ Net sales at public exchange rates by geographic region for the six months ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Global Institutional ​ Global Healthcare ​ Global Pest ​ ​ ​ ​ Industrial ​ & Specialty ​ & Life Sciences ​ Elimination ​ Corporate (millions) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ $1,624.1 ​ ​ ​ $1,599.0 ​ ​ $1,844.1 ​ ​ ​ $1,665.8 ​ ​ $297.4 ​ ​ ​ $317.1 ​ ​ $388.5 ​ ​ ​ $351.8 ​ ​ $- ​ ​ ​ $19.2 Europe ​ 785.2 ​ ​ ​ 791.7 ​ ​ 339.8 ​ ​ ​ 321.2 ​ ​ 371.5 ​ ​ ​ 360.6 ​ ​ 89.6 ​ ​ ​ 81.5 ​ ​ - ​ ​ ​ 1.4 Asia Pacific ​ 461.5 ​ ​ ​ 467.3 ​ ​ 118.8 ​ ​ ​ 115.2 ​ ​ 49.9 ​ ​ ​ 42.1 ​ ​ 15.6 ​ ​ ​ 14.1 ​ ​ - ​ ​ ​ 0.1 Latin America ​ 387.2 ​ ​ ​ 341.1 ​ ​ 96.7 ​ ​ ​ 88.9 ​ ​ 11.4 ​ ​ ​ 12.3 ​ ​ 29.5 ​ ​ ​ 27.8 ​ ​ - ​ ​ ​ 0.5 Greater China ​ ​ 198.2 ​ ​ ​ 201.3 ​ ​ 85.2 ​ ​ ​ 76.1 ​ ​ 23.2 ​ ​ ​ 23.7 ​ ​ 29.6 ​ ​ ​ 28.5 ​ ​ - ​ ​ ​ - India, Middle East and Africa ​ ​ 211.5 ​ ​ ​ 212.2 ​ ​ 33.3 ​ ​ ​ 31.9 ​ ​ 12.5 ​ ​ ​ 11.7 ​ ​ 3.4 ​ ​ ​ 3.6 ​ ​ - ​ ​ ​ - Canada ​ ​ 108.0 ​ ​ ​ 106.0 ​ ​ 112.7 ​ ​ ​ 101.9 ​ ​ 3.7 ​ ​ ​ 3.0 ​ ​ 5.6 ​ ​ ​ 5.1 ​ ​ - ​ ​ ​ - Total ​ ​ $3,775.7 ​ ​ ​ $3,718.6 ​ ​ $2,630.6 ​ ​ ​ $2,401.0 ​ ​ $769.6 ​ ​ ​ $770.5 ​ ​ $561.8 ​ ​ ​ $512.4 ​ ​ $- ​ ​ ​ $21.2 ​ Net sales by geographic region were determined based on origin of sale. The United States made up 54% and 53% of total revenues during the six months ended June 30, 2024 and 2023, respectively. Accounts Receivable and Allowance for Expected Credit Losses ​ Accounts receivable are carried at the invoiced amounts, less an allowance for expected credit losses, and generally do not bear interest. The Company’s allowance for expected credit losses estimates the amount of expected future credit losses by analyzing accounts receivable balances by age and applying historical write-off and collection experience. The Company’s estimates separately consider macroeconomic trends, specific circumstances and credit conditions of customer receivables. Account balances are written off against the allowance when it is determined the receivable will not be recovered. ​ The Company’s allowance for expected return of products shipped and credits related to pricing or quantities shipped was $61.0 million and $71.7 million as of June 30, 2024 and December 31, 2023, respectively. Returns and credit activity is recorded directly as a reduction to revenue. ​ The following table summarizes the activity in the allowance for expected credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30 ​ (millions) ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ ​ $77.3 ​ ​ ​ $71.9 ​ Bad debt expense ​ 23.6 ​ ​ 32.5 ​ Write-offs ​ (24.3) ​ ​ (18.6) ​ Other (a) ​ ​ (0.4) ​ ​ ​ (2.0) ​ Transferred to held for sale ​ (3.0) ​ ​ - ​ Ending balance ​ ​ $73.2 ​ ​ ​ $83.8 ​ ​ (a) O ther amounts are primarily the effects of changes in currency translations. ​ Contract Liability ​ Payments received from customers are based on invoices or billing schedules as established in contracts with customers. Accounts receivable are recorded when the right to consideration becomes unconditional. The contract liability relates to billings in advance of performance (primarily service obligations) under the contract. Contract liabilities are recognized as revenue when the performance obligation has been performed, which primarily occurs during the subsequent quarter. ​ The following table summarizes the contract liability activity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30 (millions) 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract liability as of beginning of the year ​ $110.9 ​ ​ ​ $116.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue recognized in the period from: ​ ​ ​ ​ ​ ​ Amounts included in the contract liability at the beginning of the year ​ (110.9) ​ ​ ​ (116.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ Increases due to billings excluding amounts recognized as revenue during the period ended ​ ​ 106.1 ​ ​ ​ 107.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract liability as of end of period ​ ​ $106.1 ​ ​ ​ $107.4 ​ ​ ​

OPERATING SEGMENTS

OPERATING SEGMENTS	6 Months Ended
	Jun. 30, 2024
OPERATING SEGMENTS
OPERATING SEGMENTS	16. OPERATING SEGMENTS ​ The Company’s organizational structure consists of global business unit and global regional leadership teams. The Company’s eight operating segments follow its commercial and product-based activities and are based on engagement in business activities, availability of discrete financial information and review of operating results by the Chief Operating Decision Maker at the identified operating segment level. ​ The Company’s operating segments that share similar economic characteristics and future prospects, nature of the products and production processes, end-use markets, channels of distribution and regulatory environment have been aggregated into four reportable segments: Global Industrial, Global Institutional & Specialty, Global Healthcare & Life Sciences and Global Pest Elimination. ​ Comparability of Reportable Segments ​ Effective January 1, 2024, the Company’s former Textile Care and Colloidal Technologies Group (“CTG”) operating segments are now part of the Water operating segment which continues to remain in the Global Industrial reportable segment. Additionally, the Pest Elimination operating segment, formerly aggregated with the Textile Care and CTG operating segments within Other, is now reported as the stand-alone Global Pest Elimination reportable segment. The Company made other immaterial changes, including the movement of certain customers and cost allocations between reportable segments. These changes are presented in "Other" columns of the table below . Prior period amounts have been recast to conform with current period presentation. ​ The Company evaluates the performance of its non-U.S. dollar functional currency international operations based on fixed currency exchange rates, which eliminates the impact of exchange rate fluctuations on its international operations. Fixed currency amounts are updated annually at the beginning of each year based on translation into U.S. dollars at foreign currency exchange rates established by management, with all periods presented using such rates. The “Fixed Currency Rate Change” column shown in the following table reflects international operations at fixed currency exchange rates established by management at the beginning of 2024, rather than the 2023 established rates. The difference between the fixed currency exchange rates and the actual currency exchange rates is reported within the “Effect of foreign currency translation” row in the following table. ​ The impact of the preceding changes on previously reported full year 2023 reportable segment net sales and operating income is summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 Reported ​ ​ ​ ​ ​ ​ ​ Fixed ​ ​ ​ 2023 Reported ​ ​ Valued at 2023 ​ ​ Currency ​ Valued at 2024 (millions) ​ Management Rates Other ​ Rate Change ​ Management Rates Net Sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ ​ $7,193.1 ​ ​ ​ $407.3 ​ ​ ​ ​ $40.1 ​ ​ ​ ​ $7,640.5 Global Institutional & Specialty ​ ​ 4,994.0 ​ ​ ​ - ​ ​ ​ ​ 20.6 ​ ​ ​ ​ 5,014.6 Global Healthcare & Life Sciences ​ ​ 1,576.9 ​ ​ ​ - ​ ​ ​ ​ 30.6 ​ ​ ​ ​ 1,607.5 Global Pest Elimination ​ ​ - ​ ​ ​ 1,061.5 ​ ​ ​ ​ 8.7 ​ ​ ​ ​ 1,070.2 Other ​ ​ 1,442.3 ​ ​ ​ (1,442.3) ​ ​ ​ ​ - ​ ​ ​ ​ - Corporate ​ ​ 69.1 ​ ​ ​ (26.5) ​ ​ ​ ​ 0.1 ​ ​ ​ ​ 42.7 Subtotal at fixed currency rates ​ ​ 15,275.4 ​ ​ ​ - ​ ​ ​ ​ 100.1 ​ ​ ​ ​ 15,375.5 Effect of foreign currency translation ​ ​ 44.8 ​ ​ ​ ​ ​ ​ ​ ​ (100.1) ​ ​ ​ ​ (55.3) Consolidated reported GAAP net sales ​ ​ $15,320.2 ​ ​ ​ $- ​ ​ ​ ​ $- ​ ​ ​ ​ $15,320.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ ​ $1,080.7 ​ ​ ​ $39.0 ​ ​ ​ ​ $2.3 ​ ​ ​ ​ $1,122.0 Global Institutional & Specialty ​ ​ 823.0 ​ ​ ​ 14.9 ​ ​ ​ ​ 3.9 ​ ​ ​ ​ 841.8 Global Healthcare & Life Sciences ​ ​ 160.0 ​ ​ ​ (6.7) ​ ​ ​ ​ 7.5 ​ ​ ​ ​ 160.8 Global Pest Elimination ​ ​ - ​ ​ ​ 209.0 ​ ​ ​ ​ 1.4 ​ ​ ​ ​ 210.4 Other ​ ​ 255.0 ​ ​ ​ (255.0) ​ ​ ​ ​ - ​ ​ ​ ​ - Corporate ​ ​ (331.7) ​ ​ ​ (1.2) ​ ​ ​ ​ 0.1 ​ ​ ​ ​ (332.8) Subtotal at fixed currency rates ​ ​ 1,987.0 ​ ​ ​ - ​ ​ ​ ​ 15.2 ​ ​ ​ ​ 2,002.2 Effect of foreign currency translation ​ ​ 5.3 ​ ​ ​ - ​ ​ ​ ​ (15.2) ​ ​ ​ ​ (9.9) Consolidated reported GAAP operating income ​ ​ $1,992.3 ​ ​ ​ $- ​ ​ ​ ​ $- ​ ​ ​ ​ $1,992.3 ​ Reportable Segment Information ​ Financial information for the Company’s reportable segments, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ ​ 2023 ​ 2024 ​ ​ 2023 ​ Net Sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ $1,956.0 ​ ​ ​ $1,906.4 ​ ​ $3,797.7 ​ ​ ​ $3,714.6 ​ Global Institutional & Specialty ​ ​ 1,372.7 ​ ​ ​ 1,273.7 ​ ​ 2,643.0 ​ ​ ​ 2,404.9 ​ Global Healthcare & Life Sciences ​ ​ 395.0 ​ ​ ​ 395.3 ​ ​ 777.9 ​ ​ ​ 781.4 ​ Global Pest Elimination ​ ​ 297.1 ​ ​ ​ 269.7 ​ ​ 563.9 ​ ​ ​ 514.3 ​ Corporate ​ ​ - ​ ​ ​ 10.6 ​ ​ - ​ ​ ​ 21.3 ​ Subtotal at fixed currency rates ​ ​ 4,020.8 ​ ​ ​ 3,855.7 ​ ​ 7,782.5 ​ ​ ​ 7,436.5 ​ Effect of foreign currency translation ​ ​ (35.0) ​ ​ ​ (3.6) ​ ​ (44.8) ​ ​ ​ (12.8) ​ Consolidated reported GAAP net sales ​ $3,985.8 ​ ​ $3,852.1 ​ ​ $7,737.7 ​ ​ ​ $7,423.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ $311.9 ​ ​ ​ $264.9 ​ ​ $576.9 ​ ​ ​ $484.7 ​ Global Institutional & Specialty ​ ​ 320.7 ​ ​ ​ 213.4 ​ ​ 568.7 ​ ​ ​ 343.5 ​ Global Healthcare & Life Sciences ​ ​ 33.7 ​ ​ ​ 33.2 ​ ​ 70.7 ​ ​ ​ 68.6 ​ Global Pest Elimination ​ ​ 62.2 ​ ​ ​ 52.4 ​ ​ 111.0 ​ ​ ​ 96.9 ​ Corporate ​ ​ (62.8) ​ ​ ​ (79.3) ​ ​ (142.6) ​ ​ ​ (156.7) ​ Subtotal at fixed currency rates ​ ​ 665.7 ​ ​ ​ 484.6 ​ ​ 1,184.7 ​ ​ ​ 837.0 ​ Effect of foreign currency translation ​ ​ (8.8) ​ ​ ​ 0.1 ​ ​ (9.9) ​ ​ ​ (0.7) ​ Consolidated reported GAAP operating income ​ $656.9 ​ ​ $484.7 ​ ​ $1,174.8 ​ ​ ​ $836.3 ​ ​ The profitability of the Company’s operating segments is evaluated by management based on operating income. ​ Consistent with the Company’s internal management reporting, Corporate amounts in the table above include sales to ChampionX in accordance with the transitional supply agreement entered into with the Transaction, as discussed in Note 15. Corporate also includes intangible asset amortization specifically from the Nalco and Purolite acquisitions and special (gains) and charges, as discussed in Note 3, that are not allocated to the Company’s reportable segments.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	17. COMMITMENTS AND CONTINGENCIES ​ The Company is subject to various claims and contingencies related to, among other things, workers’ compensation, general liability (including product liability), automobile claims, health care claims, environmental matters and lawsuits. The Company is also subject to various claims and contingencies related to income taxes. The Company also has contractual obligations including lease commitments. ​ The Company records liabilities when a contingent loss is probable and can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The Company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that a material loss may have been incurred. ​ Insurance ​ Globally, the Company has insurance policies with varying deductible levels for property and casualty losses. The Company is insured for losses in excess of these deductibles, subject to policy terms and conditions and has recorded both a liability and an offsetting receivable for amounts in excess of these deductibles. The Company is self-insured for health care claims for eligible participating employees, subject to certain deductibles and limitations. The Company determines its liabilities for claims on an actuarial basis. ​ Litigation and Environmental Matters ​ The Company and certain subsidiaries are party to various lawsuits, claims and environmental actions that have arisen in the ordinary course of business. These include from time to time antitrust, employment, commercial, patent infringement, tort, product liability and wage hour lawsuits, as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain chemical substances at various sites, such as Superfund sites and other operating or closed facilities. The Company has established accruals for certain lawsuits, claims and environmental matters. The Company currently believes that there is not a reasonably possible risk of material loss in excess of the amounts accrued related to these legal matters. Because litigation is inherently uncertain, and unfavorable rulings or developments could occur, there can be no certainty that the Company may not ultimately incur charges in excess of recorded liabilities. A future adverse ruling, settlement or unfavorable development could result in future charges that could have a material adverse effect on the Company’s results of operations or cash flows in the period in which they are recorded. ​ The Company currently believes that such future charges related to suits and legal claims, if any, would not have a material adverse effect on the Company’s consolidated financial position. TPC Group Litigation ​ On November 27, 2019, a Butadiene production plant owned and operated by TPC Group, Inc. in Port Neches, Texas, experienced an explosion and fire that resulted in personal injuries, the release of chemical fumes and extensive property damage to the plant and surrounding areas in and near Port Neches, Texas. ​ Nalco Company LLC, a subsidiary of Ecolab, supplied process chemicals to TPC used in TPC’s production processes. Nalco did not operate, manage, maintain or control any aspect of TPC’s plant operations. ​ In connection with its provision of process chemicals to TPC, Nalco was named in numerous lawsuits stemming from the plant explosion. Nalco has been named a defendant, along with TPC and other defendants, in multi-district litigation (“MDL”) proceedings pending in Orange County, Texas, alleging among other things claims for personal injury, property damage and business losses (In re TPC Group Litigation – A2020-0236-MDL, Orange County, Texas). Numerous other lawsuits were filed against Nalco, including TPC Group v. Nalco, E0208239, Jefferson County, Texas, a subrogation claim by TPC’s insurers seeking reimbursement for property damage losses. Over 5,000 plaintiffs (including the subrogation matter) asserted claims against Nalco. All claims have been consolidated for pretrial purposes into the MDL. ​ All of these cases make similar allegations and seek damages for personal injury, property damage, business losses and other damages, including exemplary damages. Due to the large number of plaintiffs, the early stage of the litigation and the fact that many of the claims do not specify an amount of damages, any estimate of any loss or range of losses cannot be made at this time. ​ On June 1, 2022, TPC and seven of its affiliated companies filed for bankruptcy under Chapter 11 (Case No. 22-10493-CTG, United States Bankruptcy Court for the District of Delaware). In connection with the bankruptcy cases, TPC disclosed an estimated range of its liability related to the Port Neches incident to individuals and homeowners (including subrogation claims) of approximately $152 million to $520 million. As part of their bankruptcy plan, TPC and its affiliates announced a settlement which allows the MDL plaintiffs a $500 million claim solely for purposes of claim allowance in the chapter 11 case and distribution of value pursuant to TPC’s bankruptcy plan. Other key terms of the settlement between TPC and the MDL plaintiffs include the establishment of a settlement trust for the benefit of certain general unsecured creditors, which is funded with $30 million and the assignment of TPC’s claims and causes of action, if any, against certain third parties, including Nalco, related to the TPC plant explosion. As part of the bankruptcy process, TPC and its debtor affiliates received a discharge of all MDL related claims, as did certain non-debtor affiliates to the extent third parties did not opt out of the non-debtor releases. As a result, TPC is no longer a defendant in the MDL. Nalco opted out of these releases, preserving any direct causes of action it may have against non-debtors. Furthermore, the allowance of the $500 million claim should have no effect on any claims or defenses asserted against or by Nalco in the MDL litigation. On December 1, 2022, the bankruptcy court confirmed the TPC bankruptcy plan, including the approval of the settlement and establishment of the aforementioned settlement trust. On December 16, 2022, the TPC bankruptcy plan went effective. As a result of the bankruptcy, the MDL was stayed. The stay was lifted in the fourth quarter of 2023 and various activities advancing discovery have resumed. ​ The Company believes the claims asserted against Nalco in the lawsuits stemming from the TPC plant explosion are without merit and intends to defend the claims vigorously. The Company also believes any potential loss should be covered by insurance subject to deductibles. However, the Company cannot predict the outcome of these lawsuits, the involvement the Company might have in these matters in the future or the potential for future litigation. ​ Environmental Matters ​ The Company is currently participating in environmental assessments and remediation at approximately 25 locations, the majority of which are in the U.S., and environmental liabilities have been accrued reflecting management’s best estimate of future costs. Potential insurance reimbursements are not anticipated in the Company’s accruals for environmental liabilities. ​

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2024
NEW ACCOUNTING PRONOUNCEMENTS
NEW ACCOUNTING PRONOUNCEMENTS	18. NEW ACCOUNTING PRONOUNCEMENTS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Standards That Are Not Yet Adopted: ​ Date of ​ Date of Effect on the Standard Issuance ​ Description Adoption Financial Statements ​ ​ ​ ​ ​ ​ ​ ​ ​ ASU 2023-09 Income taxes (Topic 740): Improvements to Income Tax Disclosures ​ December 2023 ​ The amendments in this Update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. ​ January 1, 2025 ​ The Company is currently evaluating the impact of adoption and additional disclosure requirements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ASU 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ​ November 2023 ​ The amendments in this ASU are to improve the disclosures about reportable segments and add more detailed information about a reportable segment’s expenses. The amendments in the ASU require public entities to disclose on an annual and interim basis significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, other segment items by reportable segment, the title and position of the CODM, and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU does not change the definition of a segment, the method for determining segments, the criteria for aggregating operating segments into reportable segments, or the current specifically enumerated segment expenses that are required to be disclosed. ​ Effective for annual periods beginning after December 15, 2023 ​ Entities are required to apply the disclosure amendments on a retrospective basis to all periods presented. The Company is currently evaluating the impact of adoption. ​ No other new accounting pronouncements issued or effective have had or are expected to have a material impact on the Company’s consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 490.9	$ 329.7	$ 903	$ 563.1

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule10b51ArrModified [Flag]	false

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	6 Months Ended
	Jun. 30, 2024
ASSETS AND LIABILITIES HELD FOR SALE
Summary of discontinued operations	​ ​ ​ ​ ​ ​ ​ ​ June 30 (millions) 2024 ​ ​ ​ ​ ​ Assets held for sale ​ ​ ​ ​ Cash and cash equivalents ​ ​ $6.0 ​ Accounts receivable, net ​ 53.3 ​ Inventories ​ 83.6 ​ Other current assets ​ ​ 6.5 ​ Property, plant and equipment, net ​ 64.9 ​ Goodwill ​ 305.0 ​ Other intangible assets, net ​ 22.4 ​ Operating lease assets ​ ​ 8.5 ​ Other assets ​ ​ 15.4 ​ Total assets held for sale ​ ​ $565.6 ​ ​ ​ ​ ​ ​ Liabilities held for sale ​ ​ ​ ​ Accounts payable ​ $28.9 ​ Compensation and benefits ​ 5.4 ​ Other current liabilities ​ ​ 15.8 ​ Postretirement health care and pension benefits ​ 6.6 ​ Operating lease liabilities ​ ​ 5.8 ​ Total liabilities held for sale ​ $62.5 ​ ​

SPECIAL (GAINS) AND CHARGES (Ta

SPECIAL (GAINS) AND CHARGES (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring Activities
Special (gains) and charges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ 2023 2024 ​ 2023 ​ Cost of sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring activities ​ ​ $0.7 ​ ​ ​ $8.1 ​ ​ $2.3 ​ ​ $11.3 ​ Cost of sales subtotal ​ ​ 0.7 ​ ​ ​ 8.1 ​ ​ 2.3 ​ ​ 11.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special (gains) and charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring activities ​ ​ 6.9 ​ ​ ​ 13.7 ​ ​ 25.0 ​ ​ 26.3 ​ Sale of global surgical solutions business ​ ​ 7.3 ​ ​ ​ - ​ ​ 13.3 ​ ​ ​ - ​ Acquisition and integration activities ​ ​ 2.3 ​ ​ ​ 3.5 ​ ​ 4.8 ​ ​ ​ 8.5 ​ Other ​ ​ (4.3) ​ ​ ​ 3.8 ​ ​ (2.7) ​ ​ 10.7 ​ Special (gains) and charges subtotal ​ ​ 12.2 ​ ​ ​ 21.0 ​ ​ 40.4 ​ ​ 45.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total special (gains) and charges ​ ​ $12.9 ​ ​ ​ $29.1 ​ ​ $42.7 ​ ​ ​ $56.8 ​
Combined Program
Restructuring Activities
Restructuring activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ ​ ​ ​ ​ ​ (millions) Costs Disposals Other Total 2022-2023 Activity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded expense and accrual ​ ​ $114.2 ​ ​ ​ $14.0 ​ ​ ​ $16.7 ​ ​ ​ $144.9 ​ Net cash payments ​ ​ (90.4) ​ ​ ​ - ​ ​ ​ (16.7) ​ ​ ​ (107.1) ​ Non-cash charges ​ ​ - ​ ​ ​ (14.0) ​ ​ ​ - ​ ​ ​ (14.0) ​ Reclassification ​ 19.3 ​ ​ ​ - ​ ​ ​ - ​ ​ 19.3 ​ Net restructuring liability, December 31, 2023 ​ ​ 43.1 ​ ​ ​ - ​ ​ ​ - ​ ​ ​ 43.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 Activity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded expense and accrual ​ ​ 3.8 ​ ​ ​ 0.7 ​ ​ ​ 17.5 ​ ​ ​ 22.0 ​ Net cash payments ​ ​ (18.8) ​ ​ ​ - ​ ​ ​ (8.1) ​ ​ ​ (26.9) ​ Non-cash charges ​ ​ - ​ ​ ​ (0.7) ​ ​ ​ - ​ ​ ​ (0.7) ​ Reclassification ​ - ​ ​ ​ - ​ ​ ​ (5.3) ​ ​ ​ (5.3) ​ Net restructuring liability, June 30, 2024 ​ ​ $28.1 ​ ​ ​ $- ​ ​ ​ $4.1 ​ ​ ​ $32.2 ​

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2024
ACQUISITIONS
Schedule of the acquisition date fair value of net assets acquired	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 (millions) 2024 ​ 2023 Net tangible assets (liabilities) acquired ​ ​ $0.1 ​ ​ ​ $9.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identifiable intangible assets ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ 11.0 ​ ​ ​ 35.7 ​ Trademarks ​ 1.8 ​ ​ ​ - ​ Other technology ​ ​ 1.6 ​ ​ ​ 21.6 ​ Total intangible assets ​ 14.4 ​ ​ ​ 57.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ 22.8 ​ ​ ​ 38.7 ​ Total aggregate purchase price ​ 37.3 ​ ​ ​ 105.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Acquisition-related liabilities and contingent consideration ​ (2.0) ​ ​ ​ (4.8) ​ Net cash paid for acquisitions, including acquisition-related ​ ​ ​ ​ ​ ​ ​ ​ liabilities and contingent consideration ​ ​ $35.3 ​ ​ ​ $100.6 ​

BALANCE SHEET INFORMATION (Tabl

BALANCE SHEET INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2024
BALANCE SHEET INFORMATION
Balance Sheet Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 ​ December 31 (millions) 2024 ​ 2023 Accounts receivable, net ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable ​ ​ $3,010.5 ​ ​ ​ $2,983.2 ​ Allowance for expected credit losses and other accruals ​ ​ (134.2) ​ ​ ​ (149.0) ​ Total ​ ​ $2,876.3 ​ ​ ​ $2,834.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Inventories ​ ​ ​ ​ ​ ​ ​ ​ Finished goods ​ ​ $966.2 ​ ​ ​ $911.4 ​ Raw materials and parts ​ ​ 639.2 ​ ​ ​ 704.7 ​ Inventories at FIFO cost ​ ​ 1,605.4 ​ ​ ​ 1,616.1 ​ FIFO cost to LIFO cost difference ​ ​ (99.5) ​ ​ ​ (118.9) ​ Total ​ ​ $1,505.9 ​ ​ ​ $1,497.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other current assets ​ ​ ​ ​ ​ ​ ​ ​ Prepaid assets ​ ​ $144.0 ​ ​ ​ $143.9 ​ Taxes receivable ​ ​ 166.1 ​ ​ ​ 186.9 ​ Derivative assets ​ ​ 6.1 ​ ​ ​ 3.3 ​ Other ​ ​ 104.3 ​ ​ ​ 59.1 ​ Total ​ ​ $420.5 ​ ​ ​ $393.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ $151.5 ​ ​ ​ $155.6 ​ Buildings and leasehold improvements ​ ​ 1,138.1 ​ ​ ​ 1,171.0 ​ Machinery and equipment ​ ​ 2,132.0 ​ ​ ​ 2,113.8 ​ Merchandising and customer equipment ​ ​ 2,813.8 ​ ​ ​ 2,758.4 ​ Capitalized software ​ ​ 1,016.5 ​ ​ ​ 985.9 ​ Construction in progress ​ ​ 464.4 ​ ​ ​ 470.1 ​ ​ ​ ​ 7,716.3 ​ ​ ​ 7,654.8 ​ Accumulated depreciation ​ ​ (4,299.4) ​ ​ ​ (4,180.2) ​ Total ​ ​ $3,416.9 ​ ​ ​ $3,474.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other intangible assets, net ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets not subject to amortization ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ $1,230.0 ​ ​ ​ $1,230.0 ​ Intangible assets subject to amortization ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ ​ 3,204.4 ​ ​ ​ 3,385.1 ​ Patents ​ ​ 503.4 ​ ​ ​ 503.6 ​ Trademarks ​ ​ 370.1 ​ ​ ​ 406.5 ​ Other technologies ​ ​ 524.1 ​ ​ ​ 551.2 ​ ​ ​ ​ 4,602.0 ​ ​ ​ 4,846.4 ​ Accumulated amortization ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ ​ (1,737.1) ​ ​ ​ (1,805.0) ​ Patents ​ ​ (330.0) ​ ​ ​ (319.4) ​ Trademarks ​ ​ (221.1) ​ ​ ​ (238.0) ​ Other technologies ​ ​ (209.8) ​ ​ ​ (220.5) ​ ​ ​ ​ (2,498.0) ​ ​ ​ (2,582.9) ​ Net intangible assets subject to amortization ​ ​ 2,104.0 ​ ​ ​ 2,263.5 ​ Total ​ ​ $3,334.0 ​ ​ ​ $3,493.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ Deferred income taxes ​ ​ $121.3 ​ ​ ​ $119.3 ​ Pension ​ ​ 124.1 ​ ​ ​ 118.4 ​ Derivative asset ​ ​ 32.8 ​ ​ ​ 23.6 ​ Other ​ ​ 285.5 ​ ​ ​ 271.4 ​ Total ​ ​ $563.7 ​ ​ ​ $532.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 ​ December 31 (millions) 2024 ​ 2023 Other current liabilities ​ ​ ​ ​ ​ ​ ​ ​ Discounts and rebates ​ ​ $446.4 ​ ​ ​ $438.8 ​ Dividends payable ​ ​ 162.2 ​ ​ ​ 162.7 ​ Interest payable ​ ​ 71.4 ​ ​ ​ 68.5 ​ Taxes payable, other than income ​ ​ 151.4 ​ ​ ​ 153.2 ​ Derivative liability ​ ​ 3.2 ​ ​ ​ 3.7 ​ Restructuring ​ ​ 38.5 ​ ​ ​ 48.9 ​ Contract liability ​ ​ 106.1 ​ ​ ​ 110.9 ​ Operating lease liabilities ​ ​ 132.0 ​ ​ ​ 126.1 ​ Other ​ ​ 299.6 ​ ​ ​ 222.1 ​ Total ​ ​ $1,410.8 ​ ​ ​ $1,334.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ Unrealized (loss) gain on derivative financial instruments, net of tax ​ ​ $3.2 ​ ​ ​ ($4.1) ​ Unrecognized pension and postretirement benefit expense, net of tax ​ ​ (532.6) ​ ​ ​ (534.7) ​ Cumulative translation, net of tax ​ ​ (1,370.0) ​ ​ ​ (1,311.6) ​ Total ​ ​ ($1,899.4) ​ ​ ​ ($1,850.4) ​ ​

DEBT AND INTEREST (Tables)

DEBT AND INTEREST (Tables)	6 Months Ended
	Jun. 30, 2024
DEBT AND INTEREST
Schedule of short-term debt obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30 ​ December 31 (millions) 2024 ​ 2023 Short-term debt ​ ​ ​ ​ ​ ​ ​ ​ Notes payable ​ ​ $3.5 ​ ​ ​ $1.8 ​ Long-term debt, current maturities ​ ​ 2.4 ​ ​ ​ 628.6 ​ Total ​ ​ $5.9 ​ ​ ​ $630.4 ​
Schedule of long-term debt obligations including current maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturity ​ June 30 ​ December 31 (millions) ​ by Year ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public notes (2024 principal amount) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Seven year 2016 senior notes ( €575 million) ​ 2024 ​ ​ $- ​ ​ ​ $625.9 ​ Ten year 2015 senior notes ( €575 million) ​ 2025 ​ ​ 623.1 ​ ​ ​ 625.1 ​ Ten year 2016 senior notes ( $750 million) ​ 2026 ​ ​ 728.5 ​ ​ ​ 728.2 ​ Ten year 2017 senior notes ( $500 million) ​ 2027 ​ ​ 445.6 ​ ​ ​ 448.3 ​ Six Year 2021 senior notes ( $500 million) ​ 2027 ​ ​ 497.8 ​ ​ ​ 497.4 ​ Five Year 2022 senior notes ( $500 million) ​ 2028 ​ ​ 494.9 ​ ​ ​ 494.2 ​ Ten year 2020 senior notes ( $698 million) ​ 2030 ​ ​ 652.5 ​ ​ ​ 662.7 ​ Ten year 2020 senior notes ( $600 million) ​ 2031 ​ ​ 556.6 ​ ​ ​ 561.0 ​ Eleven year 2021 senior notes ( $650 million) ​ 2032 ​ ​ 645.5 ​ ​ ​ 645.2 ​ Thirty year 2011 senior notes ( $389 million) ​ 2041 ​ ​ 384.9 ​ ​ ​ 384.7 ​ Thirty year 2016 senior notes ( $200 million) ​ 2046 ​ ​ 197.4 ​ ​ ​ 197.4 ​ Thirty year 2017 senior notes ( $484 million) ​ 2047 ​ ​ 427.5 ​ ​ ​ 426.8 ​ Thirty year 2020 senior notes ( $500 million) ​ 2050 ​ ​ 491.2 ​ ​ ​ 491.1 ​ Thirty year 2021 senior notes ( $850 million) ​ 2051 ​ ​ 839.5 ​ ​ ​ 839.3 ​ Thirty-four year 2021 senior notes ( $685 million) ​ 2055 ​ ​ 540.2 ​ ​ ​ 539.2 ​ Finance lease obligations and other ​ ​ ​ ​ 16.0 ​ ​ ​ 13.5 ​ Total debt ​ ​ ​ ​ 7,541.2 ​ ​ ​ 8,180.0 ​ Long-term debt, current maturities ​ ​ ​ ​ (2.4) ​ ​ ​ (628.6) ​ Total long-term debt ​ ​ ​ ​ $7,538.8 ​ ​ ​ $7,551.4 ​
Schedule of interest expense and interest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ 2023 ​ 2024 ​ 2023 ​ Interest expense ​ ​ $80.2 ​ ​ ​ $82.7 ​ ​ $174.7 ​ ​ ​ $162.8 ​ Interest income ​ (1.4) ​ ​ ​ (4.9) ​ (24.3) ​ ​ ​ (10.8) Interest expense, net ​ ​ $78.8 ​ ​ ​ $77.8 ​ ​ $150.4 ​ ​ ​ $152.0 ​

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS
Changes in the carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Global ​ Global ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Institutional ​ Healthcare & ​ Pest ​ ​ ​ ​ ​ ​ ​ ​ (millions) Industrial & Specialty Life Sciences ​ Elimination ​ Other Total ​ December 31, 2023 ​ ​ $4,140.6 ​ ​ $610.0 ​ ​ $3,158.4 ​ ​ $- ​ ​ $239.2 ​ ​ $8,148.2 ​ ​ Segment changes (a) ​ ​ 102.9 ​ ​ - ​ ​ - ​ ​ 136.3 ​ ​ (239.2) ​ ​ - ​ ​ December 31, 2023 recast ​ ​ 4,243.5 ​ ​ 610.0 ​ ​ 3,158.4 ​ ​ 136.3 ​ ​ - ​ ​ 8,148.2 ​ ​ Current year business combinations ​ ​ - ​ ​ - ​ ​ - ​ ​ 22.8 ​ ​ - ​ ​ 22.8 ​ ​ Prior year business combinations (b) ​ ​ (0.3) ​ ​ - ​ ​ - ​ ​ - ​ ​ - ​ ​ (0.3) ​ ​ Transferred to held for sale ​ ​ - ​ ​ - ​ ​ (305.0) ​ ​ - ​ ​ - ​ ​ (305.0) ​ ​ Effect of foreign currency translation ​ ​ (38.8) ​ ​ (0.4) ​ ​ (4.5) ​ ​ (0.1) ​ ​ - ​ ​ (43.8) ​ ​ June 30, 2024 ​ ​ $4,204.4 ​ ​ $609.6 ​ ​ $2,848.9 ​ ​ $159.0 ​ ​ $- ​ ​ $7,821.9 ​ ​ ​ (a) Relates to reclassifications made to reportable segments in the current year. Effective January 1, 2024, the Company’s former Textile Care and Colloidal Technologies Group (“CTG”) operating segments are now part of the Water operating segment which continues to remain in the Global Industrial reportable segment. Additionally, the Pest Elimination operating segment, formerly aggregated with the Textile Care and CTG operating segments within Other, is now reported as the stand-alone Global Pest Elimination reportable segment. After these changes, the Company has eight operating segments aligned with eight reporting units. Refer to Note 16 for further information. (b) Represents purchase accounting adjustments associated with 2023 acquisitions. ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
FAIR VALUE MEASUREMENTS
Schedule of the carrying amount and estimated fair value of assets and liabilities measured on recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2024 (millions) ​ Carrying ​ Fair Value Measurements ​ Amount Level 1 ​ Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts $27.6 ​ ​ ​ $- ​ ​ $27.6 ​ ​ $- ​ Cross-currency swap derivative contracts ​ ​ 42.1 ​ ​ ​ - ​ ​ ​ 42.1 ​ ​ ​ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ 24.6 ​ ​ ​ - ​ ​ ​ 24.6 ​ ​ ​ - ​ Interest rate swap agreements ​ ​ 163.4 ​ ​ ​ - ​ ​ ​ 163.4 ​ ​ ​ - ​ Cross-currency swap derivative contracts ​ ​ 21.2 ​ ​ ​ - ​ ​ ​ 21.2 ​ ​ ​ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 (millions) ​ Carrying ​ Fair Value Measurements ​ Amount Level 1 ​ Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts $26.6 ​ ​ ​ $- ​ ​ $26.6 ​ ​ $- ​ Cross-currency swap derivative contracts ​ ​ 29.1 ​ ​ ​ - ​ ​ ​ 29.1 ​ ​ ​ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ 27.0 ​ ​ ​ - ​ ​ ​ 27.0 ​ ​ ​ - ​ Interest rate swap agreements ​ ​ 146.5 ​ ​ ​ - ​ ​ ​ 146.5 ​ ​ ​ - ​ Cross-currency swap derivative contracts ​ ​ 24.9 ​ ​ ​ - ​ ​ ​ 24.9 ​ ​ ​ - ​
Schedule of carrying amount and estimated fair value of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2024 ​ December 31, 2023 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Amount Value Amount Value Long-term debt, including current maturities ​ ​ $7,541.2 ​ ​ ​ $6,660.2 ​ ​ ​ $8,180.0 ​ ​ ​ $7,552.5 ​

DERIVATIVES AND HEDGING TRANS_2

DERIVATIVES AND HEDGING TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2024
DERIVATIVES AND HEDGING TRANSACTIONS
Gross fair value of the company's outstanding derivative assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Assets Derivative Liabilities ​ ​ ​ June 30 ​ December 31 ​ June 30 ​ December 31 ​ (millions) ​ 2024 ​ 2023 2024 ​ 2023 Derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ $10.9 ​ ​ ​ $6.7 ​ ​ $3.3 ​ ​ ​ $5.2 ​ Interest rate swap agreements ​ ​ ​ - ​ ​ ​ - ​ ​ 163.4 ​ ​ ​ 146.5 ​ Cross-currency swap derivative contracts ​ ​ ​ 42.1 ​ ​ ​ 29.1 ​ ​ 21.2 ​ ​ ​ 24.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ 16.7 ​ ​ ​ 19.9 ​ ​ 21.3 ​ ​ ​ 21.8 ​ Gross value of derivatives ​ ​ ​ 69.7 ​ ​ ​ 55.7 ​ ​ 209.2 ​ ​ ​ 198.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross amounts offset in the Consolidated Balance Sheets ​ ​ ​ (30.8) ​ ​ ​ (28.8) ​ ​ (30.8) ​ ​ ​ (28.8) ​ Net value of derivatives ​ ​ ​ $38.9 ​ ​ ​ $26.9 ​ ​ $178.4 ​ ​ ​ $169.6 ​ ​
Summary of notional values of outstanding derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Values ​ ​ ​ June 30 ​ ​ December 31 (millions) ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ $4,050 ​ ​ ​ $3,745 ​ Interest rate swap agreements ​ ​ 1,500 ​ ​ ​ 1,500 ​ Cross-currency swap derivative contracts ​ ​ 1,291 ​ ​ ​ 998 ​ ​
Schedule of amounts on the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying amount of the hedged liabilities ​ ​ Cumulative amount of the fair value hedging adjustment included in the carrying amount of the hedged liabilities ​ ​ ​ Second Quarter Ended ​ ​ Second Quarter Ended ​ Line item in which the hedged item is included ​ June 30 ​ ​ June 30 ​ (millions) 2024 ​ 2023 ​ 2024 ​ 2023 Long-term debt ​ ​ $1,336.4 ​ ​ ​ $1,317.9 ​ ​ ​ ($166.0) ​ ​ ​ ($184.5) ​
Revaluation gains and losses on euro notes and cross-currency swap derivative	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 (millions) 2024 ​ 2023 ​ 2024 ​ 2023 Revaluation gain (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Euronotes ​ ​ ($1.9) ​ ​ ​ ($9.8) ​ ​ ​ $0.6 ​ ​ ​ ($24.9) ​ Cross-currency swap derivative contracts ​ ​ 5.2 ​ ​ ​ (14.0) ​ ​ ​ 11.6 ​ ​ ​ (15.6) ​ Total revaluation gain (loss), net of tax ​ ​ $3.3 ​ ​ ​ ($23.8) ​ ​ ​ $12.2 ​ ​ ​ ($40.5) ​
Impact on AOCI and earnings from derivative contracts qualified as cash flow hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ ​ ​ June 30 ​ ​ ​ 2024 ​ 2023 ​ (millions) ​ ​ COS ​ SG&A ​ Interest ​ ​ COS ​ SG&A ​ Interest ​ Gain (loss) on derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from AOCI to income ​ ​ $1.2 ​ $1.3 ​ $- ​ ​ ​ $2.8 ​ ($4.4) ​ $- ​ Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value ​ ​ - ​ - ​ - ​ ​ ​ - ​ - ​ 2.1 ​ Interest rate swap agreements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of (loss) gain reclassified from AOCI to income ​ ​ - ​ - ​ (0.4) ​ ​ ​ - ​ - ​ (0.4) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) on derivatives not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in income ​ ​ - ​ (5.4) ​ - ​ ​ ​ - ​ (3.5) ​ - ​ Total gain (loss) of all derivative instruments ​ ​ $1.2 ​ ($4.1) ​ ($0.4) ​ ​ ​ $2.8 ​ ($7.9) ​ $1.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30 ​ ​ ​ 2024 ​ 2023 ​ (millions) ​ ​ COS ​ SG&A ​ Interest ​ ​ COS ​ SG&A ​ Interest ​ Gain (loss) on derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) reclassified from AOCI to income ​ ​ $1.2 ​ $2.0 ​ $- ​ ​ ​ $8.1 ​ ($10.4) ​ $- ​ Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value ​ ​ - ​ - ​ - ​ ​ ​ - ​ - ​ 4.1 ​ Interest rate swap agreements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of (loss) gain reclassified from AOCI to income ​ ​ - ​ - ​ (0.9) ​ ​ ​ - ​ - ​ (0.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) on derivatives not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in income ​ ​ - ​ (5.0) ​ - ​ ​ ​ - ​ (28.1) ​ - ​ Total gain (loss) of all derivative instruments ​ ​ $1.2 ​ ($3.0) ​ ($0.9) ​ ​ ​ $8.1 ​ ($38.5) ​ $3.2 ​

OTHER COMPREHENSIVE INCOME (L_2

OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2024
OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION
Schedule of other comprehensive income (loss) information related to the Company's derivatives and hedging instruments and pension and postretirement benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ 2023 2024 ​ 2023 ​ Derivative and Hedging Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain (loss) on derivative and hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount recognized in AOCI ​ ​ $4.8 ​ ​ ​ ($1.6) ​ ​ $11.4 ​ ​ ​ ($6.7) ​ (Gain) loss reclassified from AOCI into income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ COS ​ ​ (1.2) ​ ​ ​ (2.8) ​ ​ (1.2) ​ ​ ​ (8.1) ​ SG&A ​ (1.3) ​ ​ ​ 4.4 ​ (2.0) ​ ​ ​ 10.4 ​ Interest (income) expense, net ​ ​ 0.4 ​ ​ ​ (1.7) ​ ​ 0.9 ​ ​ ​ (3.2) ​ ​ ​ (2.1) ​ ​ ​ (0.1) ​ (2.3) ​ ​ ​ (0.9) ​ Other activity ​ - ​ ​ ​ 1.1 ​ - ​ ​ ​ 1.2 ​ Tax impact ​ (0.5) ​ ​ ​ (0.9) ​ (1.8) ​ ​ ​ 0.2 ​ Net of tax ​ ​ $2.2 ​ ​ ​ ($1.5) ​ ​ $7.3 ​ ​ ​ ($6.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and Postretirement Benefits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount reclassified from AOCI into income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Settlement charge ​ ​ $- ​ ​ ​ $- ​ ​ $0.4 ​ ​ ​ $0.6 ​ Amortization of losses and prior period service credits, net ​ ​ 2.3 ​ ​ ​ 0.9 ​ ​ 4.0 ​ ​ ​ 2.5 ​ ​ ​ 2.3 ​ ​ ​ 0.9 ​ ​ 4.4 ​ ​ ​ 3.1 ​ Other activity ​ ​ (1.1) ​ ​ ​ (4.5) ​ ​ (0.2) ​ ​ ​ (6.1) ​ Tax impact ​ (1.3) ​ ​ ​ (0.7) ​ (2.0) ​ ​ ​ (1.1) ​ Net of tax ​ ​ ($0.1) ​ ​ ​ ($4.3) ​ ​ $2.2 ​ ​ ​ ($4.1) ​
Summary of the net of tax derivative and pension and postretirement benefit amounts reclassified from AOCI into income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ ​ 2024 ​ 2023 2024 ​ 2023 ​ (millions) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative (gain) loss reclassified from AOCI into income, net of tax ​ ​ ($1.6) ​ ​ ​ ($0.1) ​ ​ ($1.7) ​ ​ ​ ($0.7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and postretirement benefits amortization of losses and prior period service credits, net and settlement charges, reclassified from AOCI into income, net of tax ​ ​ (0.1) ​ ​ ​ (4.3) ​ ​ 2.2 ​ ​ ​ (4.1) ​ ​

EARNINGS ATTRIBUTABLE TO ECOL_2

EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2024
EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE ("EPS")
Computations of the basic and diluted EPS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions, except per share) 2024 2023 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Ecolab ​ ​ $490.9 ​ ​ ​ $329.7 ​ ​ ​ $903.0 ​ ​ ​ $563.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ 284.6 ​ ​ ​ 284.9 ​ ​ 285.2 ​ ​ ​ 284.8 ​ Effect of dilutive stock options and units ​ 2.4 ​ ​ ​ 1.4 ​ ​ 2.2 ​ ​ ​ 1.3 ​ Diluted ​ 287.0 ​ ​ ​ 286.3 ​ ​ ​ 287.4 ​ ​ ​ 286.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings attributable to Ecolab per common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic EPS ​ ​ $1.72 ​ ​ ​ $1.16 ​ ​ $3.17 ​ ​ ​ $1.98 ​ Diluted EPS ​ ​ $1.71 ​ ​ ​ $1.15 ​ ​ ​ $3.14 ​ ​ ​ $1.97 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive securities excluded from the computation of diluted EPS ​ - ​ ​ ​ 2.6 ​ ​ 1.5 ​ ​ ​ 3.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts do not necessarily sum due to rounding. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

PENSION AND POSTRETIREMENT PL_2

PENSION AND POSTRETIREMENT PLANS (Tables)	6 Months Ended
	Jun. 30, 2024
PENSION AND POSTRETIREMENT PLANS
Net periodic pension and postretirement health care benefit costs	The components of net periodic pension and postretirement health care benefit expense for the second quarter ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ International ​ U.S. Postretirement ​ ​ ​ Pension ​ Pension ​ Health Care ​ (millions) 2024 ​ 2023 2024 ​ 2023 2024 ​ 2023 Service cost ​ ​ $11.6 ​ ​ ​ $10.6 ​ ​ $4.9 ​ ​ ​ $5.4 ​ ​ $0.1 ​ ​ ​ $0.1 ​ Interest cost on benefit obligation ​ 21.8 ​ ​ ​ 22.0 ​ ​ 12.2 ​ ​ ​ 11.6 ​ ​ 1.3 ​ ​ ​ 1.4 ​ Expected return on plan assets ​ (37.7) ​ ​ ​ (36.3) ​ ​ (12.5) ​ ​ ​ (14.0) ​ ​ - ​ ​ ​ - ​ Recognition of net actuarial loss (gain) ​ ​ 1.5 ​ ​ ​ - ​ ​ 2.8 ​ ​ ​ 3.3 ​ ​ (0.8) ​ ​ ​ (0.8) ​ Amortization of prior service benefit ​ ​ (1.1) ​ ​ ​ (1.5) ​ ​ (0.1) ​ ​ ​ (0.1) ​ ​ - ​ ​ ​ - ​ Total expense (benefit) ​ ​ ($3.9) ​ ​ ​ ($5.2) ​ ​ $7.3 ​ ​ ​ $6.2 ​ ​ $0.6 ​ ​ ​ $0.7 ​ ​ The components of net periodic pension and postretirement health care benefit expense for the six months ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ International ​ U.S. Postretirement ​ ​ ​ Pension ​ Pension ​ Health Care ​ (millions) 2024 ​ 2023 2024 ​ 2023 2024 ​ 2023 Service cost ​ ​ $23.2 ​ ​ ​ $20.8 ​ ​ $9.8 ​ ​ ​ $10.8 ​ ​ $0.2 ​ ​ ​ $0.2 ​ Interest cost on benefit obligation ​ ​ 43.6 ​ ​ ​ 44.0 ​ ​ 24.6 ​ ​ ​ 23.0 ​ ​ 2.6 ​ ​ ​ 2.8 ​ Expected return on plan assets ​ ​ (75.4) ​ ​ ​ (72.6) ​ ​ (25.0) ​ ​ ​ (27.8) ​ ​ - ​ ​ ​ - ​ Recognition of net actuarial loss (gain) ​ ​ 3.0 ​ ​ ​ - ​ ​ 5.0 ​ ​ ​ 6.8 ​ ​ (1.6) ​ ​ ​ (1.6) ​ Amortization of prior service benefit ​ ​ (2.2) ​ ​ ​ (2.5) ​ ​ (0.2) ​ ​ ​ (0.2) ​ ​ - ​ ​ ​ - ​ Curtailments and settlements ​ ​ 0.4 ​ ​ ​ 0.7 ​ ​ - ​ ​ ​ - ​ ​ - ​ ​ ​ (0.1) ​ Total expense (benefit) ​ ​ ($7.4) ​ ​ ​ ($9.6) ​ ​ $14.2 ​ ​ ​ $12.6 ​ ​ $1.2 ​ ​ ​ $1.3 ​ ​

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2024
REVENUES
Schedule of operating lease revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ June 30 ​ June 30 (millions) ​ 2024 ​ 2023 ​ 2024 ​ 2023 Operating lease revenue* ​ ​ $131.6 ​ ​ ​ $128.7 ​ ​ ​ $264.8 ​ ​ ​ $255.1 ​
Schedule of principal activities, separated by reportable segments and geographic region	Net sales at public exchange rates by reportable segment are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended Six Months Ended ​ ​ June 30 June 30 (millions) 2024 ​ 2023 2024 ​ 2023 Global Industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ $1,702.7 ​ ​ ​ $1,683.1 ​ ​ $3,315.2 ​ ​ ​ $3,275.4 Service and lease equipment ​ 233.8 ​ ​ ​ 226.4 ​ ​ 460.5 ​ ​ ​ 443.2 Global Institutional & Specialty ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ 1,109.9 ​ ​ ​ 1,047.2 ​ ​ 2,131.3 ​ ​ ​ 1,968.0 ​ Service and lease equipment ​ ​ 254.0 ​ ​ ​ 225.0 ​ ​ 499.3 ​ ​ ​ 433.0 ​ Global Healthcare & Life Sciences ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ 360.5 ​ ​ ​ 363.9 ​ ​ 713.1 ​ ​ ​ 716.5 ​ Service and lease equipment ​ ​ 29.2 ​ ​ ​ 26.9 ​ ​ 56.5 ​ ​ ​ 54.0 ​ Global Pest Elimination ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ - ​ ​ ​ - ​ ​ - ​ ​ ​ - ​ Service and lease equipment ​ ​ 295.7 ​ ​ ​ 269.0 ​ ​ 561.8 ​ ​ ​ 512.4 ​ Corporate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product and sold equipment ​ ​ - ​ ​ ​ 10.6 ​ ​ - ​ ​ ​ 21.2 ​ Service and lease equipment ​ ​ - ​ ​ ​ - ​ ​ - ​ ​ ​ - ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total product and sold equipment ​ ​ $3,173.1 ​ ​ ​ $3,104.8 ​ ​ $6,159.6 ​ ​ ​ $5,981.1 ​ Total service and lease equipment ​ ​ $812.7 ​ ​ ​ $747.3 ​ ​ $1,578.1 ​ ​ ​ $1,442.6 ​ ​ Net sales at public exchange rates by geographic region for the second quarter ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Global Institutional ​ Global Healthcare ​ Global Pest ​ ​ ​ ​ ​ Industrial ​ & Specialty ​ & Life Sciences ​ Elimination ​ Corporate ​ ​ 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ $830.3 ​ ​ ​ $806.0 ​ ​ $960.9 ​ ​ ​ $879.8 ​ ​ $147.6 ​ ​ ​ $154.6 ​ ​ $206.8 ​ ​ ​ $185.9 ​ ​ $- ​ ​ ​ $9.6 ​ Europe ​ 410.6 ​ ​ ​ 414.3 ​ ​ 179.3 ​ ​ ​ 174.7 ​ ​ 187.0 ​ ​ ​ 186.2 ​ ​ 46.4 ​ ​ ​ 42.8 ​ ​ - ​ ​ ​ 0.7 ​ Asia Pacific ​ 230.8 ​ ​ ​ 238.9 ​ ​ 59.5 ​ ​ ​ 58.4 ​ ​ 26.5 ​ ​ ​ 22.5 ​ ​ 8.0 ​ ​ ​ 7.2 ​ ​ - ​ ​ ​ 0.1 ​ Latin America ​ 197.6 ​ ​ ​ 182.9 ​ ​ 46.8 ​ ​ ​ 47.6 ​ ​ 5.9 ​ ​ ​ 6.6 ​ ​ 15.0 ​ ​ ​ 14.2 ​ ​ - ​ ​ ​ 0.2 ​ Greater China ​ ​ 100.5 ​ ​ ​ 104.4 ​ ​ 40.5 ​ ​ ​ 40.5 ​ ​ 13.8 ​ ​ ​ 12.9 ​ ​ 14.9 ​ ​ ​ 14.5 ​ ​ - ​ ​ ​ - ​ India, Middle East and Africa ​ ​ 112.3 ​ ​ ​ 107.8 ​ ​ 17.8 ​ ​ ​ 17.2 ​ ​ 7.1 ​ ​ ​ 6.4 ​ ​ 1.7 ​ ​ ​ 1.7 ​ ​ - ​ ​ ​ - ​ Canada ​ ​ 54.4 ​ ​ ​ 55.2 ​ ​ 59.1 ​ ​ ​ 54.0 ​ ​ 1.8 ​ ​ ​ 1.6 ​ ​ 2.9 ​ ​ ​ 2.7 ​ ​ - ​ ​ ​ - ​ Total ​ ​ $1,936.5 ​ ​ ​ $1,909.5 ​ ​ $1,363.9 ​ ​ ​ $1,272.2 ​ ​ $389.7 ​ ​ ​ $390.8 ​ ​ $295.7 ​ ​ ​ $269.0 ​ ​ $- ​ ​ ​ $10.6 ​ ​ Net sales at public exchange rates by geographic region for the six months ended June 30 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ Global Institutional ​ Global Healthcare ​ Global Pest ​ ​ ​ ​ Industrial ​ & Specialty ​ & Life Sciences ​ Elimination ​ Corporate (millions) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ $1,624.1 ​ ​ ​ $1,599.0 ​ ​ $1,844.1 ​ ​ ​ $1,665.8 ​ ​ $297.4 ​ ​ ​ $317.1 ​ ​ $388.5 ​ ​ ​ $351.8 ​ ​ $- ​ ​ ​ $19.2 Europe ​ 785.2 ​ ​ ​ 791.7 ​ ​ 339.8 ​ ​ ​ 321.2 ​ ​ 371.5 ​ ​ ​ 360.6 ​ ​ 89.6 ​ ​ ​ 81.5 ​ ​ - ​ ​ ​ 1.4 Asia Pacific ​ 461.5 ​ ​ ​ 467.3 ​ ​ 118.8 ​ ​ ​ 115.2 ​ ​ 49.9 ​ ​ ​ 42.1 ​ ​ 15.6 ​ ​ ​ 14.1 ​ ​ - ​ ​ ​ 0.1 Latin America ​ 387.2 ​ ​ ​ 341.1 ​ ​ 96.7 ​ ​ ​ 88.9 ​ ​ 11.4 ​ ​ ​ 12.3 ​ ​ 29.5 ​ ​ ​ 27.8 ​ ​ - ​ ​ ​ 0.5 Greater China ​ ​ 198.2 ​ ​ ​ 201.3 ​ ​ 85.2 ​ ​ ​ 76.1 ​ ​ 23.2 ​ ​ ​ 23.7 ​ ​ 29.6 ​ ​ ​ 28.5 ​ ​ - ​ ​ ​ - India, Middle East and Africa ​ ​ 211.5 ​ ​ ​ 212.2 ​ ​ 33.3 ​ ​ ​ 31.9 ​ ​ 12.5 ​ ​ ​ 11.7 ​ ​ 3.4 ​ ​ ​ 3.6 ​ ​ - ​ ​ ​ - Canada ​ ​ 108.0 ​ ​ ​ 106.0 ​ ​ 112.7 ​ ​ ​ 101.9 ​ ​ 3.7 ​ ​ ​ 3.0 ​ ​ 5.6 ​ ​ ​ 5.1 ​ ​ - ​ ​ ​ - Total ​ ​ $3,775.7 ​ ​ ​ $3,718.6 ​ ​ $2,630.6 ​ ​ ​ $2,401.0 ​ ​ $769.6 ​ ​ ​ $770.5 ​ ​ $561.8 ​ ​ ​ $512.4 ​ ​ $- ​ ​ ​ $21.2
Summarized activity in the allowance for doubtful accounts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30 ​ (millions) ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ ​ $77.3 ​ ​ ​ $71.9 ​ Bad debt expense ​ 23.6 ​ ​ 32.5 ​ Write-offs ​ (24.3) ​ ​ (18.6) ​ Other (a) ​ ​ (0.4) ​ ​ ​ (2.0) ​ Transferred to held for sale ​ (3.0) ​ ​ - ​ Ending balance ​ ​ $73.2 ​ ​ ​ $83.8 ​ ​ (a) O ther amounts are primarily the effects of changes in currency translations. ​
Schedule of contract liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30 (millions) 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract liability as of beginning of the year ​ $110.9 ​ ​ ​ $116.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue recognized in the period from: ​ ​ ​ ​ ​ ​ Amounts included in the contract liability at the beginning of the year ​ (110.9) ​ ​ ​ (116.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ Increases due to billings excluding amounts recognized as revenue during the period ended ​ ​ 106.1 ​ ​ ​ 107.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract liability as of end of period ​ ​ $106.1 ​ ​ ​ $107.4 ​

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
OPERATING SEGMENTS
Schedule of financial information for each of the entity's reportable segments, including the impact of the preceding changes on previously reported full year 2021 net sales and operating income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 Reported ​ ​ ​ ​ ​ ​ ​ Fixed ​ ​ ​ 2023 Reported ​ ​ Valued at 2023 ​ ​ Currency ​ Valued at 2024 (millions) ​ Management Rates Other ​ Rate Change ​ Management Rates Net Sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ ​ $7,193.1 ​ ​ ​ $407.3 ​ ​ ​ ​ $40.1 ​ ​ ​ ​ $7,640.5 Global Institutional & Specialty ​ ​ 4,994.0 ​ ​ ​ - ​ ​ ​ ​ 20.6 ​ ​ ​ ​ 5,014.6 Global Healthcare & Life Sciences ​ ​ 1,576.9 ​ ​ ​ - ​ ​ ​ ​ 30.6 ​ ​ ​ ​ 1,607.5 Global Pest Elimination ​ ​ - ​ ​ ​ 1,061.5 ​ ​ ​ ​ 8.7 ​ ​ ​ ​ 1,070.2 Other ​ ​ 1,442.3 ​ ​ ​ (1,442.3) ​ ​ ​ ​ - ​ ​ ​ ​ - Corporate ​ ​ 69.1 ​ ​ ​ (26.5) ​ ​ ​ ​ 0.1 ​ ​ ​ ​ 42.7 Subtotal at fixed currency rates ​ ​ 15,275.4 ​ ​ ​ - ​ ​ ​ ​ 100.1 ​ ​ ​ ​ 15,375.5 Effect of foreign currency translation ​ ​ 44.8 ​ ​ ​ ​ ​ ​ ​ ​ (100.1) ​ ​ ​ ​ (55.3) Consolidated reported GAAP net sales ​ ​ $15,320.2 ​ ​ ​ $- ​ ​ ​ ​ $- ​ ​ ​ ​ $15,320.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ ​ $1,080.7 ​ ​ ​ $39.0 ​ ​ ​ ​ $2.3 ​ ​ ​ ​ $1,122.0 Global Institutional & Specialty ​ ​ 823.0 ​ ​ ​ 14.9 ​ ​ ​ ​ 3.9 ​ ​ ​ ​ 841.8 Global Healthcare & Life Sciences ​ ​ 160.0 ​ ​ ​ (6.7) ​ ​ ​ ​ 7.5 ​ ​ ​ ​ 160.8 Global Pest Elimination ​ ​ - ​ ​ ​ 209.0 ​ ​ ​ ​ 1.4 ​ ​ ​ ​ 210.4 Other ​ ​ 255.0 ​ ​ ​ (255.0) ​ ​ ​ ​ - ​ ​ ​ ​ - Corporate ​ ​ (331.7) ​ ​ ​ (1.2) ​ ​ ​ ​ 0.1 ​ ​ ​ ​ (332.8) Subtotal at fixed currency rates ​ ​ 1,987.0 ​ ​ ​ - ​ ​ ​ ​ 15.2 ​ ​ ​ ​ 2,002.2 Effect of foreign currency translation ​ ​ 5.3 ​ ​ ​ - ​ ​ ​ ​ (15.2) ​ ​ ​ ​ (9.9) Consolidated reported GAAP operating income ​ ​ $1,992.3 ​ ​ ​ $- ​ ​ ​ ​ $- ​ ​ ​ ​ $1,992.3
Schedule of financial information for each of the entity's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Second Quarter Ended ​ Six Months Ended ​ ​ ​ June 30 ​ June 30 ​ (millions) 2024 ​ ​ 2023 ​ 2024 ​ ​ 2023 ​ Net Sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ $1,956.0 ​ ​ ​ $1,906.4 ​ ​ $3,797.7 ​ ​ ​ $3,714.6 ​ Global Institutional & Specialty ​ ​ 1,372.7 ​ ​ ​ 1,273.7 ​ ​ 2,643.0 ​ ​ ​ 2,404.9 ​ Global Healthcare & Life Sciences ​ ​ 395.0 ​ ​ ​ 395.3 ​ ​ 777.9 ​ ​ ​ 781.4 ​ Global Pest Elimination ​ ​ 297.1 ​ ​ ​ 269.7 ​ ​ 563.9 ​ ​ ​ 514.3 ​ Corporate ​ ​ - ​ ​ ​ 10.6 ​ ​ - ​ ​ ​ 21.3 ​ Subtotal at fixed currency rates ​ ​ 4,020.8 ​ ​ ​ 3,855.7 ​ ​ 7,782.5 ​ ​ ​ 7,436.5 ​ Effect of foreign currency translation ​ ​ (35.0) ​ ​ ​ (3.6) ​ ​ (44.8) ​ ​ ​ (12.8) ​ Consolidated reported GAAP net sales ​ $3,985.8 ​ ​ $3,852.1 ​ ​ $7,737.7 ​ ​ ​ $7,423.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global Industrial ​ $311.9 ​ ​ ​ $264.9 ​ ​ $576.9 ​ ​ ​ $484.7 ​ Global Institutional & Specialty ​ ​ 320.7 ​ ​ ​ 213.4 ​ ​ 568.7 ​ ​ ​ 343.5 ​ Global Healthcare & Life Sciences ​ ​ 33.7 ​ ​ ​ 33.2 ​ ​ 70.7 ​ ​ ​ 68.6 ​ Global Pest Elimination ​ ​ 62.2 ​ ​ ​ 52.4 ​ ​ 111.0 ​ ​ ​ 96.9 ​ Corporate ​ ​ (62.8) ​ ​ ​ (79.3) ​ ​ (142.6) ​ ​ ​ (156.7) ​ Subtotal at fixed currency rates ​ ​ 665.7 ​ ​ ​ 484.6 ​ ​ 1,184.7 ​ ​ ​ 837.0 ​ Effect of foreign currency translation ​ ​ (8.8) ​ ​ ​ 0.1 ​ ​ (9.9) ​ ​ ​ (0.7) ​ Consolidated reported GAAP operating income ​ $656.9 ​ ​ $484.7 ​ ​ $1,174.8 ​ ​ ​ $836.3 ​

NEW ACCOUNTING PRONOUNCEMENTS (

NEW ACCOUNTING PRONOUNCEMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
NEW ACCOUNTING PRONOUNCEMENTS
Schedule of new accounting pronouncements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Standards That Are Not Yet Adopted: ​ Date of ​ Date of Effect on the Standard Issuance ​ Description Adoption Financial Statements ​ ​ ​ ​ ​ ​ ​ ​ ​ ASU 2023-09 Income taxes (Topic 740): Improvements to Income Tax Disclosures ​ December 2023 ​ The amendments in this Update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. ​ January 1, 2025 ​ The Company is currently evaluating the impact of adoption and additional disclosure requirements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ASU 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ​ November 2023 ​ The amendments in this ASU are to improve the disclosures about reportable segments and add more detailed information about a reportable segment’s expenses. The amendments in the ASU require public entities to disclose on an annual and interim basis significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, other segment items by reportable segment, the title and position of the CODM, and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU does not change the definition of a segment, the method for determining segments, the criteria for aggregating operating segments into reportable segments, or the current specifically enumerated segment expenses that are required to be disclosed. ​ Effective for annual periods beginning after December 15, 2023 ​ Entities are required to apply the disclosure amendments on a retrospective basis to all periods presented. The Company is currently evaluating the impact of adoption.

ASSETS AND LIABILITIES HELD F_3

ASSETS AND LIABILITIES HELD FOR SALE (Details) - Global surgical solutions business - Disposal group, held-for-sale, not discontinued operations - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Apr. 27, 2024
Dispositions
Sale consideration		$ 950
Impairment of assets held for sale	$ 0
Disposal Group, Not Discontinued Operation, Name of Segment [Extensible Enumeration]	Global Healthcare and Life Sciences

ASSETS AND LIABILITIES HELD F_4

ASSETS AND LIABILITIES HELD FOR SALE - Schedule of assets and liabilities of businesses held for sale (Details) - Global surgical solutions business - Disposal group, held-for-sale, not discontinued operations $ in Millions	Jun. 30, 2024 USD ($)
Assets:
Cash and cash equivalents	$ 6
Accounts receivable, net	53.3
Inventories	83.6
Other current assets	6.5
Property, plant and equipment, net	64.9
Goodwill	305
Other intangible assets, net	22.4
Operating lease assets	8.5
Other assets	15.4
Total assets	565.6
Liabilities:
Accounts payable	28.9
Compensation and benefits	5.4
Other current liabilities	15.8
Postretirement health care and pension benefits	6.6
Operating lease liabilities	5.8
Total liabilities	$ 62.5

SPECIAL (GAINS) AND CHARGES - C

SPECIAL (GAINS) AND CHARGES - Charges Reported on Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Special (gains) and charges
Sale of global surgical solutions business	$ 7.3		$ 13.3
Acquisition and integration activities	2.3	$ 3.5	4.8	$ 8.5
Other (income) expense	12.2	21	40.4	45.5
Total special (gains) and charges	12.9	29.1	42.7	56.8
Cost of sales
Special (gains) and charges
Restructuring activities	0.7	8.1	2.3	11.3
Other (income) expense	0.7	8.1	2.3	11.3
Special (gains) and charges
Special (gains) and charges
Restructuring activities	6.9	13.7	25	26.3
Acquisition and integration activities	2.3		4.8	8.5
Other special gains and charges	(4.3)	3.8	(2.7)	10.7
Other (income) expense	$ 12.2	$ 21	$ 40.4	$ 45.5

SPECIAL (GAINS) AND CHARGES - R

SPECIAL (GAINS) AND CHARGES - Restructuring and Non-Restructuring Activity (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		24 Months Ended
	Apr. 27, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jul. 30, 2024	Feb. 28, 2023
Other restructuring information
Sale of global surgical solutions business		$ 7.3		$ 13.3
Business combination advisory and legal fees, pre tax		2.3	$ 3.5	4.8	$ 8.5
Special (gains) and charges		12.2	21	40.4	45.5
Non-restructuring Special (Gains) and Charges
Accounts payable		1,690.7		1,690.7		$ 1,566.3
Other current liabilities		1,410.8		1,410.8		1,334.9
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Global surgical solutions business
Other restructuring information
Sale of global surgical solutions business	$ 7.3			13.3
Services from professionals, net of tax.	$ 3.1			1.4
Special (gains) and charges
Other restructuring information
Restructuring charges incurred, pre-tax		6.9	13.7	25	26.3
Business combination advisory and legal fees, pre tax		2.3		4.8	8.5
Business combination advisory and legal fees, after tax				3.6	6.4
Special (gains) and charges		12.2	21	40.4	45.5
Other special gains and charges		(4.3)	3.8	(2.7)	10.7
Non-restructuring Special (Gains) and Charges
Business combination and integration related costs, pre tax			3.5
Business combination and integration related costs, after tax		1.7	2.7
Cost of sales
Other restructuring information
Restructuring charges incurred, pre-tax		0.7	8.1	2.3	11.3
Special (gains) and charges		0.7	8.1	2.3	11.3
Specific legal reserve and related legal charges
Other restructuring information
Other special gains and charges		4.3	3.8	2.7	10.7
Other special gains and charges, after-tax		3.1	2.8	2.2	8.2
Other Restructuring Plan
Restructuring
Recorded expense		10.6
Other restructuring information
Restructuring charge expected to be incurred, pre-tax		5.3		5.3
Restructuring charge expected to be incurred, after tax		4		4
Restructuring charges, after tax		8
Prior Year Plans
Other restructuring information
Restructuring liability		9		9
Combined Program
Restructuring
Recorded expense (income) and accrual		22				144.9
Net cash payments		(26.9)				(107.1)
Non-cash charges		(0.7)				(14)
Reclassification		(5.3)				19.3
Other restructuring information
Restructuring charge expected to be incurred, pre-tax			19.3		19.3			$ 195
Restructuring charge expected to be incurred, after tax			14.5		14.5			$ 150
Restructuring liability		32.2		32.2		43.1
Restructuring charges incurred, pre-tax		180.9
Restructuring charges incurred, after tax		150.1
Combined Program | Employee termination costs
Restructuring
Recorded expense (income) and accrual		3.8				114.2
Net cash payments		(18.8)				(90.4)
Reclassification						19.3
Other restructuring information
Restructuring liability		28.1		28.1		43.1
Restructuring charges incurred, pre-tax		2.3	19.7	22	33.1
Restructuring charges incurred, after tax		1.4	$ 16.2	17.2	$ 26.4
Combined Program | Asset disposals
Restructuring
Recorded expense (income) and accrual		0.7				14
Non-cash charges		(0.7)				(14)
Combined Program | Other.
Restructuring
Recorded expense (income) and accrual		17.5				16.7
Net cash payments		(8.1)				$ (16.7)
Reclassification		(5.3)
Other restructuring information
Restructuring liability		$ 4.1		$ 4.1
One Ecolab Initiative Program [Member]
Other restructuring information
Restructuring charge expected to be incurred, pre-tax							$ 175
Restructuring charge expected to be incurred, after tax							136
One Ecolab Initiative Program [Member] | Special (gains) and charges
Other restructuring information
Restructuring charge expected to be incurred, pre-tax							50
Restructuring charge expected to be incurred, after tax							$ 39

ACQUISITIONS - Acquisition Summ

ACQUISITIONS - Acquisition Summary (Details) $ in Millions	3 Months Ended			6 Months Ended
	Mar. 31, 2024 item	Jun. 30, 2023 USD ($) item	Mar. 31, 2023 item	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) item	May 31, 2024 item	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Number of acquisitions | item	0	3	0
Number of other immaterial acquisitions | item		2			2	1
Goodwill				$ 7,821.9			$ 8,148.2
Payments for merger related costs				3.5
Acquisition related liabilities and contingent consideration, purchase accounting adjustments				3.5
Prior year business combinations, net tangible assets adjustments				0.7
Prior year business combinations, net intangible assets adjustments				1
Prior year business combinations, goodwill adjustments				$ (0.3)
Weighted average useful lives of definite-lived intangible assets acquired from other acquisitions				9 years	12 years
Global Institutional and Specialty
Business Acquisition [Line Items]
Goodwill				$ 609.6			$ 610
Business Acquisitions and Investment
Business Acquisition [Line Items]
Net tangible assets (liabilities) acquired		$ 9.4		0.1	$ 9.4
Identifiable intangible assets		57.3		14.4	57.3
Goodwill		38.7		22.8	38.7
Total aggregate purchase price				37.3	105.4
Acquisition related liabilities and contingent consideration				(2)	(4.8)
Net cash paid for acquisitions, including acquisition-related liabilities and contingent consideration				35.3	100.6
Business Acquisitions and Investment | Customer relationships
Business Acquisition [Line Items]
Identifiable intangible assets		35.7		11	35.7
Business Acquisitions and Investment | Trademarks
Business Acquisition [Line Items]
Identifiable intangible assets				1.8
Business Acquisitions and Investment | Other technology
Business Acquisition [Line Items]
Identifiable intangible assets		$ 21.6		$ 1.6	$ 21.6

BALANCE SHEETS INFORMATION (Det

BALANCE SHEETS INFORMATION (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, net
Accounts receivable	$ 3,010.5	$ 2,983.2
Allowance for expected credit losses and other accruals	(134.2)	(149)
Total	2,876.3	2,834.2
Inventories
Finished goods	966.2	911.4
Raw materials and parts	639.2	704.7
Inventories at FIFO cost	1,605.4	1,616.1
FIFO cost to LIFO cost difference	(99.5)	(118.9)
Total	1,505.9	1,497.2
Other current assets
Prepaid assets	144	143.9
Taxes receivable	166.1	186.9
Derivative assets	6.1	3.3
Other	104.3	59.1
Total	420.5	393.2
Property, plant and equipment, net
Land	151.5	155.6
Buildings and leasehold improvements	1,138.1	1,171
Machinery and equipment	2,132	2,113.8
Merchandising and customer equipment	2,813.8	2,758.4
Capitalized software	1,016.5	985.9
Construction in progress	464.4	470.1
Property, plant and equipment, gross	7,716.3	7,654.8
Accumulated depreciation	(4,299.4)	(4,180.2)
Total	3,416.9	3,474.6
Intangible assets subject to amortization:
Other intangible assets, gross	4,602	4,846.4
Accumulated amortization	(2,498)	(2,582.9)
Net intangible assets subject to amortization	2,104	2,263.5
Total	3,334	3,493.5
Other assets
Deferred income taxes	121.3	119.3
Pension	124.1	118.4
Derivative asset	32.8	23.6
Other	285.5	271.4
Total	563.7	532.7
Other current liabilities
Discounts and rebates	446.4	438.8
Dividends payable	162.2	162.7
Interest payable	71.4	68.5
Taxes payable, other than income	151.4	153.2
Derivative liability	3.2	3.7
Restructuring	38.5	48.9
Contract liability	106.1	110.9
Operating lease liabilities	132	126.1
Other	299.6	222.1
Total	1,410.8	1,334.9
Accumulated other comprehensive income (loss)
Unrealized gain (loss) on derivative financial instruments, net of tax	3.2	(4.1)
Unrecognized pension and postretirement benefit expense, net of tax	(532.6)	(534.7)
Cumulative translation, net of tax	(1,370)	(1,311.6)
Total	(1,899.4)	(1,850.4)
Customer relationships
Intangible assets subject to amortization:
Other intangible assets, gross	3,204.4	3,385.1
Accumulated amortization	(1,737.1)	(1,805)
Trademarks
Intangible assets subject to amortization:
Other intangible assets, gross	370.1	406.5
Accumulated amortization	(221.1)	(238)
Patents
Intangible assets subject to amortization:
Other intangible assets, gross	503.4	503.6
Accumulated amortization	(330)	(319.4)
Other technology
Intangible assets subject to amortization:
Other intangible assets, gross	524.1	551.2
Accumulated amortization	(209.8)	(220.5)
Trade names.
Intangible assets not subject to amortization:
Other intangible assets, gross	$ 1,230	$ 1,230

DEBT AND INTEREST (Details)

DEBT AND INTEREST (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Components of the company's debt obligations
Long-term debt, current maturities	$ 2.4	$ 628.6
Short-term debt including current maturities of long-term debt	5.9	630.4
Commercial paper
Components of the company's debt obligations
Maximum borrowing capacity, commercial paper	2,000
U.S. commercial paper program
Components of the company's debt obligations
Maximum borrowing capacity, commercial paper	2,000
Outstanding commercial paper	0	0
European commercial paper
Components of the company's debt obligations
Maximum borrowing capacity, commercial paper	2,000
Notes payable
Components of the company's debt obligations
Short term borrowings	3.5	1.8
Multi Currency Revolving Credit Facility
Components of the company's debt obligations
Maximum borrowing capacity under the credit agreement	2,000
Amount outstanding under the credit agreement	$ 0	$ 0

DEBT AND INTEREST - Other Debt

DEBT AND INTEREST - Other Debt Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt instrument
Carrying value	$ 7,541.2		$ 7,541.2		$ 8,180
Long-term debt, current maturities	(2.4)		(2.4)		(628.6)
Long-term debt	7,538.8		7,538.8		7,551.4
Repayments of long-term debt			629.6
Interest
Interest expense	80.2	$ 82.7	174.7	$ 162.8
Interest income	(1.4)	(4.9)	(24.3)	(10.8)
Interest expense, net	78.8	$ 77.8	$ 150.4	$ 152
Public Notes
Debt instrument
Principal outstanding payable at time of prepayment of notes (as a percent)			101%
Five Year 2022 senior notes
Debt instrument
Carrying value	494.9		$ 494.9		494.2
Aggregate principal amount	500		$ 500
Debt instrument, term			5 years
Six Year 2021 Senior Notes
Debt instrument
Carrying value	497.8		$ 497.8		497.4
Aggregate principal amount	500		$ 500
Debt instrument, term			6 years
Ten year 2017 senior notes
Debt instrument
Carrying value	445.6		$ 445.6		448.3
Aggregate principal amount	500		$ 500
Debt instrument, term			10 years
Ten year 2020 senior notes
Debt instrument
Carrying value	652.5		$ 652.5		662.7
Aggregate principal amount	698		$ 698
Debt instrument, term			10 years
Ten year 2020 senior notes, maturing in 2031
Debt instrument
Carrying value	556.6		$ 556.6		561
Aggregate principal amount	600		$ 600
Debt instrument, term			10 years
Eleven Year 2021 Senior Notes
Debt instrument
Carrying value	645.5		$ 645.5		645.2
Aggregate principal amount	650		$ 650
Debt instrument, term			11 years
Thirty year 2011 senior notes
Debt instrument
Carrying value	384.9		$ 384.9		384.7
Aggregate principal amount	389		$ 389
Debt instrument, term			30 years
Thirty year 2017 senior notes
Debt instrument
Carrying value	427.5		$ 427.5		426.8
Aggregate principal amount	484		$ 484
Debt instrument, term			30 years
Thirty year 2020 senior notes
Debt instrument
Carrying value	491.2		$ 491.2		491.1
Aggregate principal amount	500		$ 500
Debt instrument, term			30 years
Thirty Year 2021 Senior Notes
Debt instrument
Carrying value	839.5		$ 839.5		839.3
Aggregate principal amount	850		$ 850
Debt instrument, term			30 years
Thirty-four year 2021 senior notes
Debt instrument
Carrying value	540.2		$ 540.2		539.2
Aggregate principal amount	685		$ 685
Debt instrument, term			34 years
Seven year 2016 senior euro notes
Debt instrument
Carrying value					625.9
Aggregate principal amount	575		$ 575
Debt instrument, term			7 years
Ten year 2016 senior notes
Debt instrument
Carrying value	728.5		$ 728.5		728.2
Aggregate principal amount	750		$ 750
Debt instrument, term			10 years
Thirty year 2016 senior notes
Debt instrument
Carrying value	197.4		$ 197.4		197.4
Aggregate principal amount	200		$ 200
Debt instrument, term			30 years
Ten Year 2015 senior euro notes
Debt instrument
Carrying value	623.1		$ 623.1		625.1
Aggregate principal amount	575		$ 575
Debt instrument, term			10 years
Other debt.
Debt instrument
Carrying value	$ 16		$ 16		$ 13.5

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Millions	3 Months Ended		6 Months Ended				12 Months Ended
	Jun. 30, 2024 USD ($) item	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2024 USD ($) item	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Changes in the carrying amount of goodwill for each of the company's reportable segments
Number of reporting units | item	8
Impairment of goodwill			$ 0				$ 0
Changes in the carrying amount of goodwill
Beginning goodwill			8,148.2
Goodwill revised							8,148.2
Current year business combinations			22.8
Prior year business combinations			(0.3)
Segment changes/Transferred to held for sale			(305)
Effect of foreign currency translation			(43.8)
Ending goodwill	$ 7,821.9		7,821.9				8,148.2
Number of operating units				8	8
Future estimated amortization expense related to amortizable other identifiable intangible assets
Estimated expense for the remaining six-month period	151		151	$ 151	$ 151
Total amortization expense related to other intangible assets	75.1	$ 76.8	152.9			$ 152.4
Nalco Holding Company ("Nalco") | Trademarks
Changes in the carrying amount of goodwill
Impairment of indefinite life intangible asset			0
Carrying value of asset subject to impairment testing	1,200		1,200	$ 1,200	$ 1,200
Global Industrial
Changes in the carrying amount of goodwill
Beginning goodwill			4,140.6
Goodwill revised							4,243.5
Prior year business combinations			(0.3)
Segment changes/Transferred to held for sale							102.9
Effect of foreign currency translation			(38.8)
Ending goodwill	4,204.4		4,204.4				4,140.6
Global Institutional and Specialty
Changes in the carrying amount of goodwill
Beginning goodwill			610
Goodwill revised							610
Effect of foreign currency translation			(0.4)
Ending goodwill	609.6		609.6				610
Global Healthcare and Life Sciences
Changes in the carrying amount of goodwill
Beginning goodwill			3,158.4
Goodwill revised							3,158.4
Segment changes/Transferred to held for sale			(305)
Effect of foreign currency translation			(4.5)
Ending goodwill	2,848.9		2,848.9				3,158.4
Global Pest Elimination
Changes in the carrying amount of goodwill
Goodwill revised							136.3
Current year business combinations			22.8
Segment changes/Transferred to held for sale							136.3
Effect of foreign currency translation			(0.1)
Ending goodwill	$ 159		159
Other
Changes in the carrying amount of goodwill
Beginning goodwill			$ 239.2
Segment changes/Transferred to held for sale							(239.2)
Ending goodwill							$ 239.2

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount | Foreign currency forward contracts
Assets:
Foreign currency forward contracts	$ 27.6	$ 26.6
Liabilities:
Foreign currency forward contracts	24.6	27
Carrying Amount | Interest rate swap agreements
Liabilities:
Interest rate swap agreements	163.4	146.5
Carrying Amount | Cross-currency swap derivative contracts
Assets:
Foreign currency forward contracts	42.1	29.1
Liabilities:
Interest rate swap agreements	21.2	24.9
Level 2 | Foreign currency forward contracts
Assets:
Foreign currency forward contracts	27.6	26.6
Liabilities:
Foreign currency forward contracts	24.6	27
Level 2 | Interest rate swap agreements
Liabilities:
Interest rate swap agreements	163.4	146.5
Level 2 | Cross-currency swap derivative contracts
Assets:
Foreign currency forward contracts	42.1	29.1
Liabilities:
Interest rate swap agreements	$ 21.2	$ 24.9

FAIR VALUE MEASUREMENTS - Long-

FAIR VALUE MEASUREMENTS - Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Carrying amount and fair value of financial instruments
Long-term debt, including current maturities	$ 7,541.2	$ 8,180
Fair Value | Level 2
Carrying amount and fair value of financial instruments
Long-term debt, including current maturities	$ 6,660.2	$ 7,552.5

DERIVATIVES AND HEDGING TRANS_3

DERIVATIVES AND HEDGING TRANSACTIONS - Derivative Positions Summary (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Asset Derivatives
Gross value of derivatives	$ 69.7	$ 55.7
Gross amounts offset in the Consolidated Balance Sheet	(30.8)	(28.8)
Net value of derivatives presented in the Consolidated Balance Sheet	38.9	26.9
Liability Derivatives
Gross value of derivatives	209.2	198.4
Gross amounts offset in the Consolidated Balance Sheet	(30.8)	(28.8)
Net value of derivatives presented in the Consolidated Balance Sheet	178.4	169.6
Cash collateral received	0
Cash collateral pledged	0
Foreign currency forward contracts
Liability Derivatives
Notional values	4,050	3,745
Interest rate swap agreements
Liability Derivatives
Notional values	1,500	1,500
Cross-currency swap derivative contracts
Liability Derivatives
Notional values	1,291	998
Derivatives designated as hedging instruments | Foreign currency forward contracts
Asset Derivatives
Gross value of derivatives	10.9	6.7
Liability Derivatives
Gross value of derivatives	3.3	5.2
Derivatives designated as hedging instruments | Interest rate swap agreements
Liability Derivatives
Gross value of derivatives	163.4	146.5
Derivatives designated as hedging instruments | Cross-currency swap derivative contracts
Asset Derivatives
Gross value of derivatives	42.1	29.1
Liability Derivatives
Gross value of derivatives	21.2	24.9
Derivatives not designated as hedging instruments | Foreign currency forward contracts
Asset Derivatives
Gross value of derivatives	16.7	19.9
Liability Derivatives
Gross value of derivatives	$ 21.3	$ 21.8

DERIVATIVES AND HEDGING TRANS_4

DERIVATIVES AND HEDGING TRANSACTIONS - Information by Type of Derivative and Hedging Activities (Details) € in Millions, ¥ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jul. 31, 2024 EUR (€)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 CNY (¥)	May 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Oct. 31, 2023 CNY (¥)	Aug. 31, 2023 CNY (¥)
Cash Flow Hedges
Maximum period for hedged transactions			1 year
Fair Value Hedges
Derivative liability	$ 178.4		$ 178.4						$ 169.6
Net Investment Hedges
Revaluation (loss) gain, net of tax	3.3	$ (23.8)	12.2	$ (40.5)
Seven year 2008 senior notes
Fair Value Hedges
Aggregate principal amount	1,500		1,500
Cost of sales
Impact on AOCI and earnings from derivative contracts
Gain (loss) on derivative recognized in income	1.2	2.8	1.2	8.1
Selling, general and administrative expenses
Impact on AOCI and earnings from derivative contracts
Gain (loss) on derivative recognized in income	(4.1)	(7.9)	(3)	(38.5)
Interest expense, net
Impact on AOCI and earnings from derivative contracts
Gain (loss) on derivative recognized in income	(0.4)	$ 1.7	(0.9)	3.2
Foreign currency forward contracts
Net Investment Hedges
Notional values	$ 4,050		$ 4,050						3,745
Foreign currency forward contracts | Derivatives designated as hedging instruments
Impact on AOCI and earnings from derivative contracts
Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value				$ 4.1
Foreign currency forward contracts | Derivatives not designated as hedging instruments
Impact on AOCI and earnings from derivative contracts
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Gain (loss) on derivative recognized in income	$ (5.4)	$ (3.5)	$ (5)	$ (28.1)
Interest rate swap agreements
Net Investment Hedges
Notional values	1,500		1,500						1,500
Interest rate swap agreements | Derivatives designated as hedging instruments
Impact on AOCI and earnings from derivative contracts
Gain (loss) reclassified from AOCI into income (effective portion)			(0.9)	(0.9)
Euro Notes
Net Investment Hedges
Revaluation (loss) gain, net of tax	(1.9)	(9.8)	0.6	(24.9)
Cross-currency swap derivative contracts
Net Investment Hedges
Notional values	1,291		1,291						$ 998
Revaluation (loss) gain, net of tax	$ 5.2	$ (14)	$ 11.6	$ (15.6)
Minimum
Impact on AOCI and earnings from derivative contracts
Interest rate (as a percent)	1.30%		1.30%			1.30%	1.30%
Fair Value Hedges
Interest rate (as a percent)	1.30%		1.30%			1.30%	1.30%
Maximum
Impact on AOCI and earnings from derivative contracts
Interest rate (as a percent)	4.80%		4.80%			4.80%	4.80%
Fair Value Hedges
Interest rate (as a percent)	4.80%		4.80%			4.80%	4.80%
Cash Flow Hedges. | Foreign currency forward contracts | Derivatives designated as hedging instruments
Impact on AOCI and earnings from derivative contracts
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Cash Flow Hedges. | Foreign currency forward contracts | Derivatives designated as hedging instruments | Cost of sales
Impact on AOCI and earnings from derivative contracts
Gain (loss) reclassified from AOCI into income (effective portion)	$ 1.2	$ 2.8	$ 1.2	$ 8.1
Cash Flow Hedges. | Foreign currency forward contracts | Derivatives designated as hedging instruments | Selling, general and administrative expenses
Impact on AOCI and earnings from derivative contracts
Gain (loss) reclassified from AOCI into income (effective portion)	1.3	(4.4)	$ 2	$ (10.4)
Cash Flow Hedges. | Foreign currency forward contracts | Derivatives designated as hedging instruments | Interest expense, net
Impact on AOCI and earnings from derivative contracts
Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value		2.1
Cash Flow Hedges. | Interest rate swap agreements | Derivatives designated as hedging instruments
Impact on AOCI and earnings from derivative contracts
Gain (loss) reclassified from AOCI into income (effective portion)	$ (0.4)	$ (0.4)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Net	Interest Expense, Net	Interest Expense, Net	Interest Expense, Net
Fair Value Hedges | Interest rate swap agreements
Fair Value Hedges
Cumulative amount of fair value hedging adjustment	$ (166)	$ (184.5)	$ (166)	$ (184.5)
Derivative liability	1,336.4	$ 1,317.9	1,336.4	$ 1,317.9
Net Investment Hedge | Senior euro notes
Net Investment Hedges
Notional values	624		624			€ 575
Net Investment Hedge | Cross-currency swap derivative contracts | Euro
Net Investment Hedges
Notional values	991		991			€ 925		€ 300
Net Investment Hedge | Cross-currency swap derivative contracts | CNY
Net Investment Hedges
Notional values	$ 300		$ 300				¥ 2,192			¥ 1,098	¥ 1,094
Subsequent event | Net Investment Hedge | Cross currency interest rate contract maturing in 2026 | Euro
Net Investment Hedges
Notional values | €					€ 100
Subsequent event | Net Investment Hedge | Cross currency interest rate contract one, maturing in 2028 | Euro
Net Investment Hedges
Notional values | €					200
Subsequent event | Net Investment Hedge | Cross currency interest rate contract two, maturing in 2028 | Euro
Net Investment Hedges
Notional values | €					€ 100

OTHER COMPREHENSIVE INCOME (L_3

OTHER COMPREHENSIVE INCOME (LOSS) INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification adjustments
COS	$ (2,241)	$ (2,334.8)	$ (4,369.1)	$ (4,540)
SG&A	(1,075.7)	(1,011.6)	(2,153.4)	(2,001.9)
Interest (income) expense, net	(78.8)	(77.8)	(150.4)	(152)
Subtotal	(19.2)	(26.6)	(49.5)	(36.7)
Derivative (gain) loss reclassified from AOCI into income, net of tax	(1.6)	(0.1)	(1.7)	(0.7)
Pension and postretirement benefits amortization of losses and prior period service credits, net and settlement charges, reclassified from AOCI into income, net of tax	(0.1)	(4.3)	2.2	(4.1)
Derivative & Hedging Instruments
Reclassification adjustments
Amount recognized in AOCI	4.8	(1.6)	11.4	(6.7)
Other activity		1.1		1.2
Tax impact	(0.5)	(0.9)	(1.8)	0.2
Subtotal	2.2	(1.5)	7.3	(6.2)
Derivative & Hedging Instruments | Reclassifications adjustments
Reclassification adjustments
COS	(1.2)	(2.8)	(1.2)	(8.1)
SG&A	(1.3)	4.4	(2)	10.4
Interest (income) expense, net	0.4	(1.7)	0.9	(3.2)
(Gains) losses reclassified from AOCI into income	(2.1)	(0.1)	(2.3)	(0.9)
Pension & Postretirement Benefits
Reclassification adjustments
(Gains) losses reclassified from AOCI into income	2.3	0.9	4.4	3.1
Other activity	(1.1)	(4.5)	(0.2)	(6.1)
Tax impact	(1.3)	(0.7)	(2)	(1.1)
Subtotal	(0.1)	(4.3)	2.2	(4.1)
Settlement charge | Reclassifications adjustments
Reclassification adjustments
(Gains) losses reclassified from AOCI into income			0.4	0.6
Prior service costs | Reclassifications adjustments
Reclassification adjustments
(Gains) losses reclassified from AOCI into income	$ 2.3	$ 0.9	$ 4	$ 2.5

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Nov. 30, 2022	Feb. 28, 2015
SHAREHOLDERS' EQUITY
Common stock, par value per share (in dollars per share)	$ 1		$ 1		$ 1
Common Stock, Shares Authorized	800,000,000		800,000,000		800,000,000
Dividends declared per common share (in dollars per share)	$ 0.57	$ 0.53	$ 1.14	$ 1.06
COMMON STOCK
SHAREHOLDERS' EQUITY
Common stock, shares authorized to be repurchased						10,000,000	20,000,000
Remaining shares authorized to be repurchased	10,720,395		10,720,395
Reacquired shares (in shares)			2,285,183
Number of shares reacquired through the open market			2,196,702
Number of shares that have been repurchased through the exercise of stock options and vesting of stock awards			88,481	68,712

EARNINGS ATTRIBUTABLE TO ECOL_3

EARNINGS ATTRIBUTABLE TO ECOLAB PER COMMON SHARE ("EPS") (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Computations of the basic and diluted earnings attributable to Ecolab per share amounts
Net income attributable to Ecolab	$ 490.9	$ 329.7	$ 903	$ 563.1
Weighted-average common shares outstanding
Basic (in shares)	284.6	284.9	285.2	284.8
Effect of dilutive stock options and units (in shares)	2.4	1.4	2.2	1.3
Diluted (in shares)	287	286.3	287.4	286.1
Earnings attributable to Ecolab per common share
Basic EPS (in dollars per share)	$ 1.72	$ 1.16	$ 3.17	$ 1.98
Diluted EPS (in dollars per share)	$ 1.71	$ 1.15	$ 3.14	$ 1.97
Anti-dilutive securities excluded from the computation of diluted EPS		2.6	1.5	3.8

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
INCOME TAXES
Effective income tax rate (as a percent)	16.20%	20.60%
Statutory U.S. rate (as a percent)			13.10%	19.50%
Recognized discrete tax expense (benefit)	$ 10.3		$ 58.5
Tax expense, transfer of intangible assets between affiliates			41.9
Recognized other discrete tax expense (benefit)		$ 2.8		$ 1.2
Excess tax benefits, share-based compensation	3.7	1.8	12.3	1.9
Recognized discrete tax benefits, release of reserves for uncertain tax positions		$ 4.6		$ 0.7
Favorable adjustments	$ 6.6		$ 4.3

PENSION AND POSTRETIREMENT PL_3

PENSION AND POSTRETIREMENT PLANS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Pension Plan Information
Defined benefit plan, tax status extensible enumeration			us-gaap:NonqualifiedPlanMember
U.S. Pension. | Pension
Net periodic benefit costs
Service cost	$ 11.6	$ 10.6	$ 23.2	$ 20.8
Interest cost on benefit obligation	21.8	22	43.6	44
Expected return on plan assets	(37.7)	(36.3)	(75.4)	(72.6)
Recognition of net actuarial loss (gain)	1.5		3
Amortization of prior service benefit	(1.1)	(1.5)	(2.2)	(2.5)
Curtailments and settlements			0.4	0.7
Total expense (benefit)	(3.9)	(5.2)	(7.4)	(9.6)
Other Pension Plan Information
Contributions to plan			4
Contributions anticipated to be made during the remainder of 2024	5		5
U.S. Pension. | U.S. Postretirement Benefits
Net periodic benefit costs
Service cost	0.1	0.1	0.2	0.2
Interest cost on benefit obligation	1.3	1.4	2.6	2.8
Recognition of net actuarial loss (gain)	(0.8)	(0.8)	(1.6)	(1.6)
Curtailments and settlements				(0.1)
Total expense (benefit)	0.6	0.7	1.2	1.3
Other Pension Plan Information
Contributions to plan			6
Contributions anticipated to be made during the remainder of 2024	5		5
International Pension | Pension
Net periodic benefit costs
Service cost	4.9	5.4	9.8	10.8
Interest cost on benefit obligation	12.2	11.6	24.6	23
Expected return on plan assets	(12.5)	(14)	(25)	(27.8)
Recognition of net actuarial loss (gain)	2.8	3.3	5	6.8
Amortization of prior service benefit	(0.1)	(0.1)	(0.2)	(0.2)
Total expense (benefit)	7.3	$ 6.2	14.2	$ 12.6
Other Pension Plan Information
Contributions to plan			21
Contributions anticipated to be made during the remainder of 2024	$ 24		$ 24

REVENUES - Operating Lease Reve

REVENUES - Operating Lease Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Lease, Lease Income
Operating lease revenue	$ 131.6	$ 128.7	$ 264.8	$ 255.1

REVENUES - Principal Activities

REVENUES - Principal Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of revenue
Net sales	$ 3,985.8	$ 3,852.1	$ 7,737.7	$ 7,423.7
Allowance for expected return of products	61		$ 61		$ 71.7
United States | Geographic concentration | Consolidated net sales
Disaggregation of revenue
Percentage of consolidated sales			54%	53%
Product and equipment sales
Disaggregation of revenue
Net sales	3,173.1	3,104.8	$ 6,159.6	$ 5,981.1
Service and lease sales
Disaggregation of revenue
Net sales	812.7	747.3	1,578.1	1,442.6
Operating segment
Disaggregation of revenue
Net sales	4,020.8	3,855.7	7,782.5	7,436.5
Global Industrial
Disaggregation of revenue
Net sales	1,936.5	1,909.5	3,775.7	3,718.6
Global Industrial | United States
Disaggregation of revenue
Net sales	830.3	806	1,624.1	1,599
Global Industrial | Europe
Disaggregation of revenue
Net sales	410.6	414.3	785.2	791.7
Global Industrial | Asia Pacific
Disaggregation of revenue
Net sales	230.8	238.9	461.5	467.3
Global Industrial | Latin America
Disaggregation of revenue
Net sales	197.6	182.9	387.2	341.1
Global Industrial | Greater China
Disaggregation of revenue
Net sales	100.5	104.4	198.2	201.3
Global Industrial | India, Middle East and Africa
Disaggregation of revenue
Net sales	112.3	107.8	211.5	212.2
Global Industrial | Canada
Disaggregation of revenue
Net sales	54.4	55.2	108	106
Global Industrial | Product and equipment sales
Disaggregation of revenue
Net sales	1,702.7	1,683.1	3,315.2	3,275.4
Global Industrial | Service and lease sales
Disaggregation of revenue
Net sales	233.8	226.4	460.5	443.2
Global Industrial | Operating segment
Disaggregation of revenue
Net sales	1,956	1,906.4	3,797.7	3,714.6
Global Institutional and Specialty
Disaggregation of revenue
Net sales	1,363.9	1,272.2	2,630.6	2,401
Global Institutional and Specialty | United States
Disaggregation of revenue
Net sales	960.9	879.8	1,844.1	1,665.8
Global Institutional and Specialty | Europe
Disaggregation of revenue
Net sales	179.3	174.7	339.8	321.2
Global Institutional and Specialty | Asia Pacific
Disaggregation of revenue
Net sales	59.5	58.4	118.8	115.2
Global Institutional and Specialty | Latin America
Disaggregation of revenue
Net sales	46.8	47.6	96.7	88.9
Global Institutional and Specialty | Greater China
Disaggregation of revenue
Net sales	40.5	40.5	85.2	76.1
Global Institutional and Specialty | India, Middle East and Africa
Disaggregation of revenue
Net sales	17.8	17.2	33.3	31.9
Global Institutional and Specialty | Canada
Disaggregation of revenue
Net sales	59.1	54	112.7	101.9
Global Institutional and Specialty | Product and equipment sales
Disaggregation of revenue
Net sales	1,109.9	1,047.2	2,131.3	1,968
Global Institutional and Specialty | Service and lease sales
Disaggregation of revenue
Net sales	254	225	499.3	433
Global Institutional and Specialty | Operating segment
Disaggregation of revenue
Net sales	1,372.7	1,273.7	2,643	2,404.9
Global Healthcare and Life Sciences
Disaggregation of revenue
Net sales	389.7	390.8	769.6	770.5
Global Healthcare and Life Sciences | United States
Disaggregation of revenue
Net sales	147.6	154.6	297.4	317.1
Global Healthcare and Life Sciences | Europe
Disaggregation of revenue
Net sales	187	186.2	371.5	360.6
Global Healthcare and Life Sciences | Asia Pacific
Disaggregation of revenue
Net sales	26.5	22.5	49.9	42.1
Global Healthcare and Life Sciences | Latin America
Disaggregation of revenue
Net sales	5.9	6.6	11.4	12.3
Global Healthcare and Life Sciences | Greater China
Disaggregation of revenue
Net sales	13.8	12.9	23.2	23.7
Global Healthcare and Life Sciences | India, Middle East and Africa
Disaggregation of revenue
Net sales	7.1	6.4	12.5	11.7
Global Healthcare and Life Sciences | Canada
Disaggregation of revenue
Net sales	1.8	1.6	3.7	3
Global Healthcare and Life Sciences | Product and equipment sales
Disaggregation of revenue
Net sales	360.5	363.9	713.1	716.5
Global Healthcare and Life Sciences | Service and lease sales
Disaggregation of revenue
Net sales	29.2	26.9	56.5	54
Global Healthcare and Life Sciences | Operating segment
Disaggregation of revenue
Net sales	395	395.3	777.9	781.4
Global Pest Elimination
Disaggregation of revenue
Net sales	295.7	269	561.8	512.4
Global Pest Elimination | United States
Disaggregation of revenue
Net sales	206.8	185.9	388.5	351.8
Global Pest Elimination | Europe
Disaggregation of revenue
Net sales	46.4	42.8	89.6	81.5
Global Pest Elimination | Asia Pacific
Disaggregation of revenue
Net sales	8	7.2	15.6	14.1
Global Pest Elimination | Latin America
Disaggregation of revenue
Net sales	15	14.2	29.5	27.8
Global Pest Elimination | Greater China
Disaggregation of revenue
Net sales	14.9	14.5	29.6	28.5
Global Pest Elimination | India, Middle East and Africa
Disaggregation of revenue
Net sales	1.7	1.7	3.4	3.6
Global Pest Elimination | Canada
Disaggregation of revenue
Net sales	2.9	2.7	5.6	5.1
Global Pest Elimination | Service and lease sales
Disaggregation of revenue
Net sales	295.7	269	561.8	512.4
Global Pest Elimination | Operating segment
Disaggregation of revenue
Net sales	$ 297.1	269.7	$ 563.9	514.3
Corporate
Disaggregation of revenue
Net sales		10.6		21.2
Corporate | United States
Disaggregation of revenue
Net sales		9.6		19.2
Corporate | Europe
Disaggregation of revenue
Net sales		0.7		1.4
Corporate | Asia Pacific
Disaggregation of revenue
Net sales		0.1		0.1
Corporate | Latin America
Disaggregation of revenue
Net sales		0.2		0.5
Corporate | Product and equipment sales
Disaggregation of revenue
Net sales		10.6		21.2
Corporate | Operating segment
Disaggregation of revenue
Net sales		$ 10.6		$ 21.3

REVENUES - Allowance for Expect

REVENUES - Allowance for Expected Credit Losses (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts Receivable and Allowance for Doubtful Accounts
Allowance for doubtful accounts, returns and credits	$ 61		$ 71.7
Activity in the allowance for doubtful accounts
Beginning balance	77.3	$ 71.9
Bad debt expense	23.6	32.5
Write-offs	(24.3)	(18.6)
Other (a)	(0.4)	(2)
Transferred to held for sale	(3)
Ending balance	$ 73.2	$ 83.8

REVENUES - Contract Liability (

REVENUES - Contract Liability (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Change in contract liability
Contract liability as of beginning of the year	$ 110.9	$ 116.5
Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period	(110.9)	(116.5)
Increases due to billings excluding amounts recognized as revenue during the period ended	106.1	107.4
Contract liability as of end of period	$ 106.1	$ 107.4

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) $ in Millions	3 Months Ended		6 Months Ended				12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 segment	Jun. 30, 2024 item	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Financial information of reportable segments
Number of operating units				8	8
Number of reportable segments | item					4
Net sales	$ 3,985.8	$ 3,852.1	$ 7,737.7			$ 7,423.7
Operating Income (Loss)	656.9	484.7	1,174.8			836.3
Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							$ 15,320.2
Operating Income (Loss)							1,992.3
Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							15,320.2
Operating Income (Loss)							1,992.3
Global Industrial
Financial information of reportable segments
Net sales	1,936.5	1,909.5	3,775.7			3,718.6
Global Institutional and Specialty
Financial information of reportable segments
Net sales	1,363.9	1,272.2	2,630.6			2,401
Global Healthcare and Life Sciences
Financial information of reportable segments
Net sales	389.7	390.8	769.6			770.5
Global Pest Elimination
Financial information of reportable segments
Net sales	295.7	269	561.8			512.4
Corporate
Financial information of reportable segments
Net sales		10.6				21.2
Operating segment
Financial information of reportable segments
Net sales	4,020.8	3,855.7	7,782.5			7,436.5
Operating Income (Loss)	665.7	484.6	1,184.7			837
Operating segment | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							15,275.4
Operating Income (Loss)							1,987
Operating segment | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							15,375.5
Operating Income (Loss)							2,002.2
Operating segment | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							100.1
Operating Income (Loss)							15.2
Operating segment | Global Industrial
Financial information of reportable segments
Net sales	1,956	1,906.4	3,797.7			3,714.6
Operating Income (Loss)	311.9	264.9	576.9			484.7
Operating segment | Global Industrial | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							7,193.1
Operating Income (Loss)							1,080.7
Operating segment | Global Industrial | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							7,640.5
Operating Income (Loss)							1,122
Operating segment | Global Industrial | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							40.1
Operating Income (Loss)							2.3
Operating segment | Global Industrial | Purchase Price Adjustments | Segment Changes
Financial information of reportable segments
Net sales							407.3
Operating Income (Loss)							39
Operating segment | Global Institutional and Specialty
Financial information of reportable segments
Net sales	1,372.7	1,273.7	2,643			2,404.9
Operating Income (Loss)	320.7	213.4	568.7			343.5
Operating segment | Global Institutional and Specialty | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							4,994
Operating Income (Loss)							823
Operating segment | Global Institutional and Specialty | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							5,014.6
Operating Income (Loss)							841.8
Operating segment | Global Institutional and Specialty | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							20.6
Operating Income (Loss)							3.9
Operating segment | Global Institutional and Specialty | Purchase Price Adjustments | Segment Changes
Financial information of reportable segments
Operating Income (Loss)							14.9
Operating segment | Global Healthcare and Life Sciences
Financial information of reportable segments
Net sales	395	395.3	777.9			781.4
Operating Income (Loss)	33.7	33.2	70.7			68.6
Operating segment | Global Healthcare and Life Sciences | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							1,576.9
Operating Income (Loss)							160
Operating segment | Global Healthcare and Life Sciences | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							1,607.5
Operating Income (Loss)							160.8
Operating segment | Global Healthcare and Life Sciences | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							30.6
Operating Income (Loss)							7.5
Operating segment | Global Healthcare and Life Sciences | Purchase Price Adjustments | Segment Changes
Financial information of reportable segments
Operating Income (Loss)							(6.7)
Operating segment | Global Pest Elimination
Financial information of reportable segments
Net sales	297.1	269.7	563.9			514.3
Operating Income (Loss)	62.2	52.4	111			96.9
Operating segment | Global Pest Elimination | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							1,070.2
Operating Income (Loss)							210.4
Operating segment | Global Pest Elimination | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							8.7
Operating Income (Loss)							1.4
Operating segment | Global Pest Elimination | Purchase Price Adjustments | Segment Changes
Financial information of reportable segments
Net sales							1,061.5
Operating Income (Loss)							209
Operating segment | Other | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							1,442.3
Operating Income (Loss)							255
Operating segment | Other | Purchase Price Adjustments | Segment Changes
Financial information of reportable segments
Net sales							(1,442.3)
Operating Income (Loss)							(255)
Operating segment | Corporate
Financial information of reportable segments
Net sales		10.6				21.3
Operating Income (Loss)	(62.8)	(79.3)	(142.6)			(156.7)
Operating segment | Corporate | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							69.1
Operating Income (Loss)							(331.7)
Operating segment | Corporate | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							42.7
Operating Income (Loss)							(332.8)
Operating segment | Corporate | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							0.1
Operating Income (Loss)							0.1
Operating segment | Corporate | Purchase Price Adjustments | Segment Changes
Financial information of reportable segments
Net sales							(26.5)
Operating Income (Loss)							(1.2)
Currency impact
Financial information of reportable segments
Net sales	(35)	(3.6)	(44.8)			(12.8)
Operating Income (Loss)	$ (8.8)	$ 0.1	$ (9.9)			$ (0.7)
Currency impact | Previously Reported | Valued at 2023 Management Rates
Financial information of reportable segments
Net sales							44.8
Operating Income (Loss)							5.3
Currency impact | Previously Reported | Valued at 2024 Management Rates
Financial information of reportable segments
Net sales							(55.3)
Operating Income (Loss)							(9.9)
Currency impact | Purchase Price Adjustments | Changes in Currency Rates
Financial information of reportable segments
Net sales							(100.1)
Operating Income (Loss)							$ (15.2)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 location plaintiff	Jun. 01, 2022 USD ($)
Loss contingencies
Estimated settlement		$ 500
Environmental matters
Number of locations for environmental assessments and remediation | location	25
Nalco Holding Company ("Nalco")
Loss contingencies
Estimated settlement		30
Number of plaintiffs having claims | plaintiff	5,000
Maximum | Nalco Holding Company ("Nalco")
Loss contingencies
Estimated possible loss		520
Minimum | Nalco Holding Company ("Nalco")
Loss contingencies
Estimated possible loss		$ 152