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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 29, 2019
Mar. 30, 2018
Net sales $ 790.6 $ 755.3
Cost of sales 455.5 407.8
Gross profit 335.1 347.5
Selling, general and administrative expenses 230.2 211.2
Research and development expenses 85.3 82.0
Restructuring charges, net 4.2 28.2
Operating income [1] 15.4 26.1
Interest expense (82.7) (91.4)
Interest income 1.5 3.2
Other income, net 16.3 4.6
Loss from continuing operations before income taxes (49.5) (57.5)
Income tax benefit (204.7) (36.6)
Income (loss) from continuing operations 155.2 (20.9)
(Loss) income from discontinued operations, net of income taxes (0.3) 2.9
Net income (loss) $ 154.9 $ (18.0)
Basic earnings per share (Note 8):    
Income (loss) from continuing operations, per share $ 1.86 $ (0.24)
Income from discontinued operations, per share 0 0.03
Net income, per share $ 1.86 $ (0.21)
Basic weighted-averaged shares outstanding (in shares) 83.5 86.1
Diluted earnings per share (Note 8):    
Income (loss) from continuing operations, per share $ 1.83 $ (0.24)
Income from discontinued operations, per share 0 0.03
Net income, per share $ 1.83 $ (0.21)
Diluted weighted-average shares outstanding (in shares) 84.6 86.1
[1] The amount of operating loss included in the Company's unaudited condensed statement of income for the three months ended March 30, 2018 related to the Sucampo Acquisition was $30.7 million. Included within these results were $9.1 million of amortization associated with intangibles recognized from this acquisition and $15.0 million of expense associated with fair value adjustments of acquired inventory.