Description of Business, Basis of Presentation, and Principles of Consolidation (Tables)

9 Months Ended

Sep. 30, 2013

Effect of Corrections on Company's Consolidated Statements of Income

The following tables present the effect of these corrections on the Company’s Unaudited Consolidated Statements of Income:

	Three Months Ended September 30, 2012									Nine Months Ended September 30, 2012
(In millions, except per share amounts)	As Previously Reported			Adjustment			As Revised			As Previously Reported			Adjustment			As Revised
Sales	$	778.3		$	(0.8	)	$	777.5		$	2,193.6		$	(6.3	)	$	2,187.3
Net sales		627.5			(0.8	)		626.7			1,756.8			(6.3	)		1,750.5
Cost of goods sold		256.0			(0.3	)		255.7			723.7			(3.8	)		719.9
Gross profit		371.5			(0.5	)		371.0			1,033.1			(2.5	)		1,030.6
Operating income		162.4			(0.5	)		161.9			419.2			(2.5	)		416.7
Income from continuing operations before income taxes		135.8			(0.5	)		135.3			369.6			(2.5	)		367.1
Income taxes		44.1			(7.2	)		36.9			98.2			(7.7	)		90.5
Income from continuing operations		91.7			6.7			98.4			271.4			5.2			276.6
Loss from discontinued operations, net of tax(a)		(15.2	)		13.0			(2.2	)		(15.3	)		13.0			(2.3	)
Net income		76.5			19.7			96.2			256.1			18.2			274.3
Basic earnings per common share:
Continuing operations	$	0.58		$	0.04		$	0.62		$	1.72		$	0.03		$	1.75
Discontinued operations		(0.10	)		0.09			(0.01	)		(0.10	)		0.09			(0.01	)
Net income		0.48			0.13			0.61			1.62			0.12			1.74
Diluted earnings per common share:
Continuing operations	$	0.57		$	0.04		$	0.61		$	1.69		$	0.03		$	1.72
Discontinued operations		(0.10	)		0.09			(0.01	)		(0.10	)		0.09			(0.01	)
Net income		0.47			0.13			0.60			1.59			0.12			1.71

(a) During the fourth quarter of 2012 we identified errors of approximately $11 million which were primarily related to our discontinued Golf operations and the 2011 tax return filing process. The reversal of the out-of-period adjustment resulted in an $11 million increase in the loss from discontinued operations for the three months ended December 31, 2012. The recording of these items in the proper period resulted in an $11 million decrease in the loss from discontinued operations for the three months ended September 30, 2012.

Effect of Corrections on Company's Consolidated Statements of Comprehensive Income

The following tables present the effect of these corrections on the Company’s Unaudited Consolidated Statements of Comprehensive Income (in addition to the impact on net income described above):

	Three Months Ended September 30, 2012						Nine Months Ended September 30, 2012
(In millions)	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Comprehensive income	$	160.8	$	19.7	$	180.5	$	363.3	$	18.2	$	381.5

Effect of Corrections on Company's Consolidated Balance Sheet

The following table presents the effect of these corrections on the Company’s Consolidated Balance Sheet as of December 31, 2012:

	December 31, 2012
(In millions)	As Previously Reported		Adjustment			As Revised
Accounts receivable from customers	$	413.7	$	(2.7	)	$	411.0
Inventories		1,736.9		26.1			1,763.0
Other current assets		305.1		2.4			307.5
Total current assets		2,863.4		25.8			2,889.2
Total assets		8,636.9		25.8			8,662.7
Other current liabilities	$	464.5	$	42.1		$	506.6
Total current liabilities		1,208.6		42.1			1,250.7
Total liabilities		4,024.8		42.1			4,066.9
Retained earnings		6,139.7		(16.3	)		6,123.4
Total equity		4,612.1		(16.3	)		4,595.8
Total liabilities and equity		8,636.9		25.8			8,662.7

Effect of Corrections on Company's Consolidated Statements of Cash Flows

The following tables present the effect of these corrections on the Company’s Unaudited Consolidated Statements of Cash Flows:

	Nine months ended September 30, 2012
(In millions)	As Previously Reported			Adjustment			As Revised
Net income	$	256.1		$	18.2		$	274.3
Deferred income taxes		67.0			(12.1	)		54.9
Change in accounts receivable		(36.4	)		0.8			(35.6	)
Change in inventory		(105.6	)		(4.7	)		(110.3	)
Change in other assets		(9.9	)		(5.9	)		(15.8	)
Change in accrued expenses and other liabilities		(107.2	)		3.7			(103.5	)