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Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Insurance proceeds for lost profits $ 0.0 $ 26.0 $ 0.0 $ 65.5
Earnings Per Share, Diluted $ 2.60 $ 2.80 $ 2.93 $ 4.52
Net sales $ 941.3 $ 1,099.1 $ 1,665.1 $ 1,889.4
Cost of goods sold 665.6 767.0 1,223.7 1,355.8
Gross profit 275.7 332.1 441.4 533.6
Operating Expenses:        
Selling, general and administrative expenses 129.5 152.4 260.8 298.2
Losses (gains) and other expenses, net 3.6 2.1 2.3 3.2
Restructuring charges (10.0) 0.1 (10.5) (0.4)
Loss on sale of business 0.0 0.4 0.0 8.8
Insurance proceeds for lost profits 0.0 26.0 0.0 65.5
Loss (gain) from natural disaster, net of insurance recoveries (1.0) 5.9 (2.7) 12.8
Income from equity method investments (4.4) (4.6) (7.2) (7.2)
Operating income 136.0 213.8 172.3 308.5
Interest expense, net 6.9 13.1 15.6 23.9
Other expense (income), net 1.1 0.3 2.2 1.2
non-cash pension settlement loss 0.0 60.6 0.0 60.6
Income from continuing operations before income taxes 128.0 139.8 154.5 222.8
Provision for income taxes 27.4 28.8 41.4 42.4
Income from continuing operations 100.6 111.0 113.1 180.4
Discontinued Operations:        
Loss from discontinued operations before income taxes (0.8) (0.3) (0.8) (0.4)
Income tax benefit (0.2) 0.0 (0.6) 0.0
Loss from discontinued operations (0.6) (0.3) (0.2) (0.4)
Net income $ 100.0 $ 110.7 $ 112.9 $ 180.0
Earnings per share – Basic:        
Income from continuing operations (in dollars per share) $ 2.63 $ 2.84 $ 2.95 $ 4.58
Loss from discontinued operations (in dollars per share) (0.01) (0.01) 0 (0.01)
Net income (in dollars per share) 2.62 2.83 2.95 4.57
Earnings per share – Diluted:        
Income from continuing operations (in dollars per share) 2.62 2.81 2.93 4.53
Loss from discontinued operations (in dollars per share) (0.02) (0.01) 0 (0.01)
Net income (in dollars per share) $ 2.60 $ 2.80 $ 2.93 $ 4.52