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 9 Months Ended
Jun. 30, 2017
Jul. 01, 2016
Jun. 30, 2017
Jul. 01, 2016
Revenues:        
Product $ 383.4 $ 381.3 $ 1,113.1 $ 1,110.0
Service 279.0 261.6 816.1 763.9
Total revenues 662.4 642.9 1,929.2 1,873.9
Cost of revenues:        
Product 248.4 250.8 727.0 759.9
Service 120.7 108.6 357.9 319.9
Total cost of revenues 369.1 359.4 1,084.9 1,079.8
Gross margin 293.3 283.5 844.3 794.1
Operating expenses:        
Research and development 55.1 51.1 158.3 147.7
Selling, general and administrative 121.9 128.1 415.5 350.8
Impairment charges 0.0 2.2 38.3 2.2
Total operating expenses 177.0 181.4 612.1 500.7
Operating earnings 116.3 102.1 232.2 293.4
Interest income 2.9 4.5 10.4 12.7
Interest expense (2.7) (2.9) (8.0) (8.4)
Earnings from continuing operations before taxes 116.5 103.7 234.6 297.7
Taxes on earnings 25.9 21.8 60.2 66.7
Net earnings from continuing operations 90.6 81.9 174.4 231.0
Net earnings (loss) from discontinued operations 0.0 17.0 (6.8) 53.9
Net earnings 90.6 98.9 167.6 284.9
Less: Net earnings attributable to noncontrolling interests 0.2 0.1 0.7 0.1
Net earnings attributable to Varian $ 90.4 $ 98.8 $ 166.9 $ 284.8
Net earnings (loss) per share - basic        
Continuing operations (in dollars per share) $ 0.99 $ 0.86 $ 1.88 $ 2.41
Discontinued operations (in dollars per share) 0.00 0.18 (0.08) 0.56
Net earnings per share - basic (in dollars per share) 0.99 1.04 1.80 2.97
Net earnings (loss) per share - diluted        
Continuing operations (in dollars per share) 0.98 0.86 1.86 2.39
Discontinued operations (in dollars per share) 0.00 0.18 (0.07) 0.56
Net earnings per share - diluted (in dollars per share) $ 0.98 $ 1.04 $ 1.79 $ 2.95
Shares used in the calculation of net earnings per share:        
Weighted average shares outstanding - basic (in shares) 91.7 94.9 92.7 96.0
Weighted average shares outstanding - diluted (in shares) 92.4 95.4 93.5 96.5