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Consolidated Statements of Net Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Net sales $ 2,119.0 $ 1,947.1 $ 6,451.5 $ 6,214.8
Cost of sales (1,714.1) (1,559.5) (5,201.8) (4,964.0)
Gross profit 404.9 387.6 1,249.7 1,250.8
Selling, general & administrative expenses (93.8) (88.8) (286.7) (276.3)
Research, development & engineering expenses, net (120.2) (96.8) (379.7) (350.0)
Amortization of intangibles (5.1) (4.8) (15.3) (14.5)
Other income (expense), net (3.5) (9.8) (9.3) (78.9)
Operating income 182.3 187.4 558.7 531.1
Equity in earnings of affiliates, net of tax 1.8 1.8 5.4 5.3
Interest income 0.9 0.9 2.5 2.4
Interest expense (8.1) (10.9) (24.3) (32.6)
Other financial items, net (0.3) (4.1) (2.9) (7.6)
Income before income taxes 176.6 175.1 539.4 498.6
Income tax expense (51.7) (57.1) (150.0) (153.0)
Net income 124.9 118.0 389.4 345.6
Less: net income attributable to non-controlling interests 1.0 0.5 3.3 1.2
Net income attributable to controlling interest $ 123.9 $ 117.5 $ 386.1 $ 344.4
Net earnings per share - basic $ 1.29 $ 1.23 $ 4.03 $ 3.71
Net earnings per share - diluted $ 1.29 $ 1.23 $ 4.02 $ 3.63
Weighted average number of shares outstanding, net of treasury shares (in millions) 95.8 95.4 95.7 92.8
Weighted average number of shares outstanding, assuming dilution and net of treasury shares (in millions) 96.2 95.7 96.0 94.9
Number of shares outstanding, excluding dilution and net of treasury shares (in millions) 95.9 95.4 95.9 95.4
Cash dividend per share - declared $ 0.50 $ 0.50 $ 1.50 $ 1.44
Cash dividend per share - paid $ 0.50 $ 0.47 $ 1.50 $ 1.39