XML 54 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
Basis of Presentation and Summary of Significant Accounting and Financial Reporting Policies Impact of Adoption of New Standard on Previously Reported Quarterly Results (Tables)
6 Months Ended
Jun. 30, 2016
New Accounting Pronouncement, Early Adoption [Line Items]  
New Accounting Pronouncement, Early Adoption [Table Text Block]
Consolidated Statement of Operations
 
March 31, 2016
(In millions)
Previously Reported
 
Revised
 
Effect of Change
Provision for income taxes
$
(24.4
)
 
$
(21.2
)
 
$
3.2

Income from continuing operations
7.0

 
10.2

 
3.2

Net (loss) income
(2.9
)
 
0.3

 
3.2

Net (loss) income attributable to W. R. Grace & Co. shareholders
(2.7
)
 
0.5

 
3.2

Basic earnings per share:
 
 
 
 

Income from continuing operations
$
0.10

 
$
0.14

 
$
0.04

Net (loss) income attributable to W. R. Grace & Co. shareholders
$
(0.04
)
 
$
0.01

 
$
0.05

Diluted earnings per share:
 
 
 
 

Income from continuing operations
$
0.10

 
$
0.14

 
$
0.04

Net (loss) income attributable to W. R. Grace & Co. shareholders
$
(0.04
)
 
$
0.01

 
$
0.05

Weighted average number of diluted shares(1)
70.6

 
71.1

 
0.5

___________________________________________________________________________________________________________________
(1)
As Grace reported a net loss for the three months ended March 31, 2016, the dilutive effect of employee stock options was excluded from the weighted average number of diluted shares. The adoption of ASU 2016-09 increased Grace's 2016 first quarter net income, and as a result, the dilutive effect of employee stock options is included in the revised calculation of the weighted average number of diluted shares.
Consolidated Statement of Cash Flows
 
March 31, 2016
(In millions)
Previously Reported
 
Revised
 
Effect of Change
Net cash provided by operating activities from continuing operations
$
69.6

 
$
74.3

 
$
4.7

Net cash provided by financing activities from continuing operations
145.1

 
140.4

 
(4.7
)
Consolidated Balance Sheet
 
March 31, 2016
(In millions)
Previously Reported
 
Revised
 
Effect of Change
Deferred income taxes
$
664.0

 
$
739.5

 
$
75.5

Retained earnings
490.9

 
566.4

 
75.5