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CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net sales $ 1,021.3 $ 1,030.3 $ 1,989.2 $ 2,070.4
Cost of products sold 804.3 809.1 1,563.4 1,631.7
Gross profit 217.0 221.2 425.8 438.7
Operating expenses:        
Selling, general and administrative expenses 100.4 103.9 199.8 210.3
Research and development 11.6 11.5 23.1 22.8
Restructuring and acquisition-related costs 19.6 0.3 20.4 5.3
Other Operating Income (Expense), Net (3.6) (3.7) (5.9) (6.3)
Operating income 89.0 109.2 188.4 206.6
Interest expense 14.0 12.8 29.4 25.9
Other non-operating (income) expense, net (0.6) (2.2) (0.5) (4.0)
Income from continuing operations before income taxes 75.6 98.6 159.5 184.7
Provision for income taxes 24.7 33.0 52.4 62.1
Income from continuing operations 50.9 65.6 107.1 122.6
Income (loss) from discontinued operations, net of tax 0.0 0.0 0.0 (2.6)
Net income $ 50.9 $ 65.6 $ 107.1 $ 120.0
Income from continuing operations, per basic share $ 0.54 $ 0.68 $ 1.13 $ 1.26
Income (loss) from discontinued operations, per basic share 0.00 0.00 0.00 (0.03)
Net income, per basic share 0.54 0.68 1.13 1.23
Income from continuing operations, per diluted share 0.53 0.67 1.12 1.25
Income (loss) from discontinued operations, per diluted share 0.00 0.00 0.00 (0.03)
Net income, per diluted share 0.53 0.67 1.12 1.22
Cash dividends paid per share (in dollars per share) $ 0.29 $ 0.28 $ 0.58 $ 0.56