XML 14 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2017
Apr. 01, 2016
Mar. 31, 2017
Apr. 01, 2016
Revenues:        
Product $ 386.1 $ 361.3 $ 729.7 $ 728.7
Service 268.9 253.9 537.1 502.3
Total revenues 655.0 615.2 1,266.8 1,231.0
Cost of revenues:        
Product 254.2 248.1 478.6 509.1
Service 125.5 109.0 237.2 211.3
Total cost of revenues 379.7 357.1 715.8 720.4
Gross margin 275.3 258.1 551.0 510.6
Operating expenses:        
Research and development 53.3 49.0 103.2 96.6
Selling, general and administrative 132.2 106.1 293.6 222.7
Impairment charges 0.0 0.0 38.3 0.0
Total operating expenses 185.5 155.1 435.1 319.3
Operating earnings 89.8 103.0 115.9 191.3
Interest income 2.7 4.3 7.5 8.2
Interest expense (2.4) (3.3) (5.3) (5.5)
Earnings from continuing operations before taxes 90.1 104.0 118.1 194.0
Taxes on earnings 20.8 26.8 34.3 44.9
Net earnings from continuing operations 69.3 77.2 83.8 149.1
Net (loss) earnings from discontinued operations (13.3) 19.8 (6.8) 36.9
Net earnings 56.0 97.0 77.0 186.0
Less: Net earnings (loss) attributable to noncontrolling interests (0.1) 0.0 0.5 0.0
Net earnings attributable to Varian $ 56.1 $ 97.0 $ 76.5 $ 186.0
Net earnings per share - basic - Continuing operations (in dollars per share) $ 0.75 $ 0.81 $ 0.90 $ 1.55
Net earnings per share - basic - Discontinued operations (in dollars per share) (0.15) 0.20 (0.08) 0.38
Net earnings per share - basic (in dollars per share) 0.60 1.01 0.82 1.93
Net earnings per share - diluted - Continuing operations (in dollars per share) 0.74 0.80 0.89 1.54
Net earnings per share - diluted - Discontinued operations (in dollars per share) (0.14) 0.21 (0.08) 0.38
Net earnings per share - diluted (in dollars per share) $ 0.60 $ 1.01 $ 0.81 $ 1.92
Shares used in the calculation of net earnings per share:        
Weighted average shares outstanding - basic (in shares) 93.0 95.7 93.2 96.5
Weighted average shares outstanding - diluted (in shares) 93.7 96.2 93.9 97.1