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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 25, 2016
Net sales $ 810.9 $ 815.8
Cost of sales 392.3 390.7
Gross profit 418.6 425.1
Selling, general and administrative expenses 308.1 209.3
Research and development expenses 62.2 58.1
Restructuring charges, net 17.2 8.4
Non-restructuring impairment charges 0.0 16.9
Gains on divestiture and license (59.1) 0.0
Operating income 90.2 132.4
Interest expense (94.2) (97.2)
Interest income 0.9 0.2
Other expense, net (7.5) (0.7)
Loss (income) from continuing operations before income taxes (10.6) 34.7
Income tax benefit (39.5) (63.8)
Income from continuing operations 28.9 98.5
Income from discontinued operations, net of income taxes 370.3 19.8
Net income $ 399.2 $ 118.3
Basic earnings per share (Note 7):    
Income from continuing operations per share $ 0.28 $ 0.89
Income from discontinued operations 3.58 0.18
Net income, per share $ 3.86 $ 1.06
Basic weighted-averaged shares outstanding (in shares) 103.3 111.1
Diluted earnings per share (Note 7):    
Income from continuing operations, per share $ 0.28 $ 0.88
Income from discontinued operations 3.57 0.18
Net income, per share $ 3.85 $ 1.06
Diluted weighted-average shares outstanding (in shares) 103.6 112.0