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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net sales $ 1,399.8 $ 1,421.4 $ 1,368.4
Cost of goods and services sold 944.0 973.6 933.7
Gross profit 455.8 447.8 434.7
Research and development 34.1 37.3 37.9
Selling, general and administrative expenses 233.0 228.7 234.9
Other (income) expense (Note 14) 60.1 (0.2) (0.5)
Operating profit 128.6 182.0 162.4
Loss on debt extinguishment 0.0 0.0 0.2
Interest expense 14.1 16.5 17.0
Interest income 1.6 3.5 1.9
Income before income taxes 116.1 169.0 147.1
Income tax expense 26.3 47.2 40.2
Equity in net income of affiliated companies 5.8 5.3 5.4
Net income $ 95.6 $ 127.1 $ 112.3
Net income per share:      
Basic (in dollars per share) $ 1.33 $ 1.79 $ 1.61
Diluted (in dollars per share) $ 1.30 $ 1.75 $ 1.57
Weighted average shares outstanding:      
Basic (in shares) 72.0 70.9 69.6
Diluted (in shares) 73.8 72.8 71.4
Dividends declared per share (in dollars per share) $ 0.46 $ 0.41 $ 0.39