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Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income        
Net sales $ 1,089.1 $ 991.0 $ 3,018.1 $ 2,781.9
Cost of goods sold 777.6 667.4 2,144.9 1,891.7
Selling and administrative expenses 152.2 135.6 433.5 391.2
Research and development expenses 13.5 12.3 40.2 35.6
Impairment charges 0.0 141.5 0.0 141.5
Other expense (income), net 2.9 (2.2) 1.1 (4.0)
Earnings before interest and income taxes 142.9 36.4 398.4 325.9
Interest expense, net 7.7 7.5 21.4 24.1
Earnings before income taxes from continuing operations 135.2 28.9 377.0 301.8
Income tax expense 48.8 38.4 126.8 127.5
Income (loss) from continuing operations 86.4 (9.5) 250.2 174.3
Discontinued operations:        
(Loss) income before income taxes (0.1) (0.6) 0.3 (0.7)
Income tax (benefit) expense 0.0 (0.3) 0.1 (0.3)
(Loss) income from discontinued operations (0.1) (0.3) 0.2 (0.4)
Net income (loss) $ 86.3 $ (9.8) $ 250.4 $ 173.9
Basic earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) $ 1.38 $ (0.15) $ 3.91 $ 2.69
Income from discontinued operations (in dollars per share) 0 0 0 0
Basic earnings per share (in dollars per share) 1.38 (0.15) 3.91 2.69
Diluted earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) 1.37 (0.15) 3.89 2.66
Income from discontinued operations (in dollars per share) 0 0 0 0
Diluted earnings per share (in dollars per share) $ 1.37 $ (0.15) $ 3.89 $ 2.66
Average shares outstanding (in thousands):        
Basic (in shares) 62,432 64,353 63,503 64,206
Diluted (in shares) 62,797 64,353 63,916 64,879
Dividends declared and paid $ 23.2 $ 22.8 $ 69.0 $ 61.8
Dividends declared and paid per share (in dollars per share) $ 0.37 $ 0.35 $ 1.07 $ 0.95
Comprehensive Income        
Net income $ 86.3 $ (9.8) $ 250.4 $ 173.9
Other comprehensive income (loss)        
Foreign currency translation 13.4 (0.5) 44.6 (5.3)
Accrued post-retirement benefit liability, net of tax 0.4 0.3 1.2 1.1
Other, net of tax (0.2) (0.1) (0.9) (0.4)
Other comprehensive income (loss) 13.6 (0.3) 44.9 (4.6)
Comprehensive income (loss) $ 99.9 $ (10.1) $ 295.3 $ 169.3