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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]      
Net Sales $ 3,394.8 $ 3,297.6 $ 3,194.3
Cost of sales 1,883.0 1,844.7 1,756.3
Gross Profit 1,511.8 1,452.9 1,438.0
Marketing expenses 417.5 416.9 399.8
Selling, general and administrative expenses 420.1 394.8 416.0
Income from Operations 674.2 [1] 641.2 [2] 622.2
Equity in earnings (losses) of affiliates (5.8) 11.6 2.8
Investment earnings [3] 1.5 2.3 2.6
Other income (expense), net [3] (4.0) (2.8) (2.1)
Interest expense [3] (30.5) (27.4) (27.7)
Income before Income Taxes 635.4 624.9 597.8
Income taxes 225.0 211.0 203.4
Net Income $ 410.4 $ 413.9 $ 394.4
Weighted average shares outstanding - Basic 131.1 135.1 138.6
Weighted average shares outstanding - Diluted 133.6 137.5 141.2
Net income per share - Basic $ 3.13 [1],[4] $ 3.06 $ 2.85
Net income per share - Diluted 3.07 [1],[4] 3.01 2.79
Cash dividends per share $ 1.34 $ 1.24 $ 1.12
[1] The second quarter of 2015 Income from Operations includes an $8.9 pre-tax charge or $0.05 per share to terminate an international defined benefit pension plan.
[2] The second quarter of 2014 Income from Operations includes $5.0 of intangible asset impairment charges.
[3] In determining Income before Income Taxes, interest expense, investment earnings, and other income, net, were allocated to the segments based upon each segment's relative Income from Operations.
[4] The second quarter of 2015 Net Income includes a $17.0 or $0.13 per share impairment charge to write-off the remaining investment in Natronx.