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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net sales $ 394.7 $ 427.7 $ 684.7 $ 757.1
Cost of products sold 268.0 296.5 477.8 537.4
Gross profit 126.7 131.2 206.9 219.7
Operating costs and expenses:        
Advertising, selling, general and administrative expenses 72.4 81.7 145.3 163.8
Amortization of intangibles 4.9 5.6 10.1 11.5
Restructuring charges (credits) 0.2 0.0 (0.3) 1.1
Total operating costs and expenses 77.5 87.3 155.1 176.4
Operating income [1] 49.2 43.9 51.8 43.3
Non-operating expense (income):        
Interest expense 11.3 12.1 22.5 24.5
Interest income (2.3) (2.0) (3.4) (3.1)
Equity in earnings of joint ventures (1.2) (1.2) (2.6) (2.4)
Other expense, net 2.3 0.1 1.9 0.1
Income before income tax 39.1 34.9 33.4 24.2
Income tax expense 11.4 13.6 11.5 10.7
Net income $ 27.7 $ 21.3 $ 21.9 $ 13.5
Basic income per share:        
Basic income per share $ 0.25 $ 0.19 $ 0.20 $ 0.12
Diluted income per share:        
Diluted income per share $ 0.25 $ 0.18 $ 0.19 $ 0.12
Weighted average number of shares outstanding:        
Basic 109.1 114.2 110.6 114.0
Diluted 110.6 116.6 112.5 116.5
[1] Operating income as presented in the segment table above is defined as i) net sales; ii) less cost of products sold; iii) less advertising, selling, general and administrative expenses; iv) less amortization of intangibles; and v) less restructuring charges.