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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net sales $ 1,032.9 $ 1,030.2 $ 2,922.2 $ 3,040.4
Cost of goods sold 734.6 728.3 2,090.3 2,153.8
Gross profit 298.3 301.9 831.9 886.6
Operating Expenses:        
Selling, general and administrative expenses 143.4 149.4 441.6 466.1
Losses (gains) and other expenses, net 2.2 2.7 5.3 10.0
Restructuring charges (6.1) (0.5) (6.5) (1.9)
Loss (gain), net on sale of businesses and related property 0.2 6.2 9.1 25.8
Loss on assets held for sale   0.3   0.3
Loss (gain) from insurance recoveries, net of losses incurred 7.1 (0.3) 85.4 (0.3)
Income from equity method investments (3.3) (2.4) (10.5) (10.8)
Operating income 156.8 145.2 465.3 393.3
Interest expense, net 12.5 10.3 36.5 28.5
non-cash pension settlement loss 0.0 0.0 60.6 0.0
Other expense (income), net 0.6 1.1 1.7 2.4
Income from continuing operations before income taxes 143.7 133.8 366.5 362.4
Provision for income taxes 29.0 25.8 71.5 77.3
Income from continuing operations 114.7 108.0 295.0 285.1
Discontinued Operations:        
(Loss) income from discontinued operations before income taxes 0.0 0.0 (0.4) 0.4
Income tax expense 0.0 0.0 (0.1) 2.1
Loss from discontinued operations 0.0 0.0 (0.3) (1.7)
Net income $ 114.7 $ 108.0 $ 294.7 $ 283.4
Earnings per share – Basic:        
Income from continuing operations (in dollars per share) $ 2.97 $ 2.68 $ 7.54 $ 6.98
Loss from discontinued operations (in dollars per share) 0 0 (0.01) (0.04)
Net income (in dollars per share) 2.97 2.68 7.53 6.94
Earnings per share – Diluted:        
Income from continuing operations (in dollars per share) 2.94 2.65 7.46 6.90
Loss from discontinued operations (in dollars per share) 0 0 0 (0.04)
Net income (in dollars per share) $ 2.94 $ 2.65 $ 7.46 $ 6.86
Average shares outstanding:        
Weighted Average Number of Shares Outstanding - Basic 38.6 40.3 39.1 40.8
Weighted Average Number of Shares Outstanding - Diluted 39.0 40.7 39.5 41.3