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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 29, 2017
Sep. 30, 2016
Sep. 29, 2017
Sep. 30, 2016
Net sales $ 793.9 $ 887.2 $ 2,429.3 $ 2,569.6
Cost of sales 393.3 397.0 1,194.0 1,165.5
Gross profit 400.6 490.2 1,235.3 1,404.1
Selling, general and administrative expenses 205.7 267.8 745.9 702.0
Research and development expenses 59.5 67.9 190.9 200.8
Restructuring charges, net 14.3 6.8 32.1 29.2
Non-restructuring impairment charges 0.0 0.0 0.0 16.9
Losses (gains) on divestiture and license 0.4 0.0 (56.6) 0.0
Operating income 120.7 147.7 323.0 455.2
Interest expense (92.6) (94.0) (279.0) (286.8)
Interest income 1.3 0.5 2.8 1.1
Other income (expense), net 3.7 (0.6) 6.2 (2.6)
Income from continuing operations before income taxes 33.1 53.6 53.0 166.9
Income tax benefit (31.2) (56.4) (110.8) (218.3)
Income from continuing operations 64.3 110.0 163.8 385.2
(Loss) income from discontinued operations, net of income taxes (0.6) 5.0 361.9 47.4
Net income $ 63.7 $ 115.0 $ 525.7 $ 432.6
Basic earnings per share (Note 7):        
Income from continuing operations, per share $ 0.66 $ 1.02 $ 1.65 $ 3.53
(Loss) income from discontinued operations, per share (0.01) 0.05 3.64 0.43
Net income, per share $ 0.66 $ 1.07 $ 5.28 $ 3.97
Basic weighted-averaged shares outstanding (in shares) 96.7 107.6 99.5 109.1
Diluted earnings per share (Note 7):        
Income from continuing operations, per share $ 0.66 $ 1.01 $ 1.64 $ 3.50
(Loss) income from discontinued operations, per share (0.01) 0.05 3.63 0.43
Net income, per share $ 0.66 $ 1.06 $ 5.27 $ 3.93
Diluted weighted-average shares outstanding (in shares) 97.0 108.6 99.8 110.0