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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Net Sales [1] $ 1,037.6 $ 967.9 $ 3,071.5 $ 2,743.1
Cost of sales 577.5 529.4 1,705.0 1,494.9
Gross Profit 460.1 438.5 1,366.5 1,248.2
Marketing expenses 120.5 111.9 356.8 333.6
Selling, general and administrative expenses 135.4 127.9 411.4 396.6
Income from Operations 204.2 198.7 598.3 518.0
Equity in earnings of affiliates 2.5 2.7 7.0 7.9
Investment earnings 0.3 0.8 0.9 1.5
Other income (expense), net (0.3) 1.2 (3.1) 0.5
Interest expense (19.4) (16.4) (59.7) (33.9)
Income before Income Taxes [2] 187.3 187.0 543.4 494.0 [3]
Income taxes 41.0 53.6 117.6 156.2
Net Income $ 146.3 $ 133.4 $ 425.8 $ 337.8
Weighted average shares outstanding - Basic 245.7 249.7 245.2 251.2
Weighted average shares outstanding - Diluted 251.1 255.3 250.1 256.9
Net income per share - Basic $ 0.60 $ 0.53 $ 1.74 $ 1.34
Net income per share - Diluted 0.58 0.52 1.70 1.32
Cash dividends per share $ 0.22 $ 0.19 $ 0.65 $ 0.57
[1] Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $1.9 and $1.5 for the three months ended September 30, 2018 and September 30, 2017, respectively, and were $4.5 and $4.2 for the nine months ended September 30, 2018 and September 30, 2017, respectively.
[2] In determining Income before Income Taxes, interest expense, investment earnings and certain aspects of other income and expense were allocated among segments based upon each segment’s relative Income from Operations.
[3] Includes a pension settlement charge of $39.2 recorded in Consumer International.