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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net sales $ 278.1 $ 290.0
Cost of products sold 195.7 209.8
Gross profit 82.4 80.2
Operating costs and expenses:    
Advertising, selling, general and administrative expenses 71.2 72.9
Amortization of intangibles 4.7 5.2
Restructuring credits 0.0 (0.5)
Total operating costs and expenses 75.9 77.6
Operating income [1] 6.5 2.6
Non-operating expense (income):    
Interest expense 10.7 11.2
Interest income (1.4) (1.1)
Equity in earnings of joint ventures (1.3) (1.4)
Other expense (income), net 1.1 (0.4)
Loss before income tax (2.6) (5.7)
Income tax (benefit) expense (7.4) 0.1
Net income (loss) $ 4.8 $ (5.8)
Basic income per share:    
Basic income (loss) per share $ 0.05 $ (0.05)
Diluted income per share:    
Diluted income (loss) per share $ 0.04 $ (0.05)
Weighted average number of shares outstanding:    
Basic 106.1 112.0
Diluted 108.2 112.0 [2]
[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.
[2] Due to the net loss during the three months ended March 31, 2015, the denominator in the diluted earnings per share calculation does not include the effects of the stock awards for which the average market price for the period exceeds the exercise price, as it would result in a less dilutive computation. As a result, reported diluted earnings per share for the three months ended March 31, 2015 is the same as basic earnings per share.