XML 143 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated (Condensed) Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Net sales $ 368.4 $ 407.7 $ 693.9 $ 753.1
Cost of sales 233.7 280.8 441.6 519.6
Gross profit 134.7 126.9 252.3 233.5
Costs and expenses:        
Selling, general and administrative expenses 75.4 69.2 147.2 151.6
Amortization expense 7.9 7.9 15.7 15.7
Separation expense 1.3 0.5 4.3 0.5
Restructuring expense 0.3 (0.2) 1.6 0.5
Earnings from operations 49.8 49.5 83.5 65.2
Interest expense 27.0 0.4 35.5 0.7
Interest (income) expense on notes with MTW - net 0.0 (4.6) 0.1 (9.3)
Other (income) expense - net 3.6 (0.2) 6.0 (0.6)
Earnings before income taxes 19.2 53.9 41.9 74.4
Income taxes 4.1 17.0 8.7 23.5
Discontinued operations:        
Earnings (loss) from discontinued operations, net of income taxes   0.1    
Loss on sale of discontinued operations, net of income taxes   0.0    
Net earnings $ 15.1 $ 36.9 $ 33.2 $ 50.9
Per Share Data        
Earnings from continuing operations   $ 0.27    
Earnings from per common share - Basic (in dollars per share) $ 0.11 0.27 $ 0.24 $ 0.37
Loss from discontinued operations   0    
Earnings from per common share - Diluted (in dollars per share) $ 0.11 0.27 $ 0.24 $ 0.37
Loss on sale of discontinued operations   $ 0.00    
Weighted average shares outstanding - Basic (in shares) 137,131,572 137,016,712 137,105,290 137,016,712
Weighted average shares outstanding - Diluted (in shares) 138,374,379 137,016,712 138,356,213 137,016,712
Basic and diluted net earnings per share [1]   $ 0.27    
[1] On March 4, 2015, MTW distributed 137.0 million shares of MFS common stock to MTW shareholders in connection with its spin-off of MFS. See Note 24, "Earnings Per Share," in the Audited Combined Financial Statements for more information. Basic and diluted earnings per common share and the average number of common shares outstanding were retrospectively restated for the number of MFS shares outstanding immediately following this transaction.