XML 17 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Earnings and Comprehensive Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income      
Net sales $ 4,089.9 $ 3,675.4 $ 3,543.2
Cost of goods sold 2,941.9 2,518.1 2,536.5
Selling and administrative expenses 589.4 532.0 461.9
Research and development expenses 54.9 48.1 42.8
Impairment charges 0.0 141.5 0.0
Other operating (income) expense, net (2.0) (2.4) (1.3)
Operating income 505.7 438.1 503.3
Interest expense, net 33.5 30.6 34.0
Other non-operating expense (income), net 4.0 (3.0) 1.4
Income from continuing operations before income taxes 468.2 410.5 467.9
Provision for income taxes 102.9 159.7 148.3
Income from continuing operations 365.3 250.8 319.6
Discontinued operations:      
Income (loss) before income taxes 0.3 (1.1) 0.1
Income tax provision (benefit) 0.1 (0.4) 0.0
Income (loss) from discontinued operations 0.2 (0.7) 0.1
Net income $ 365.5 $ 250.1 $ 319.7
Basic earnings per share attributable to common shares:      
Income from continuing operations $ 5.75 $ 3.87 $ 4.89
Loss from discontinued operations 0 (0.01) 0
Basic earnings per share 5.75 3.86 4.89
Diluted earnings per share attributable to common shares:      
Income from continuing operations 5.71 3.83 4.82
Loss from discontinued operations 0 (0.01) 0
Diluted earnings per share $ 5.71 $ 3.82 $ 4.82
Average shares outstanding (in thousands):      
Basic (shares) 63,073 64,226 64,844
Diluted (shares) 63,551 64,883 65,804
Dividends declared and paid per share (in dollars per share) $ 1.44 $ 1.30 $ 1.10
Comprehensive Income:      
Net income $ 365.5 $ 250.1 $ 319.7
Other comprehensive income (loss):      
Change in foreign currency translation 46.6 (36.7) (29.6)
Change in accrued post-retirement benefit liability, net of tax (5.2) 1.0 4.6
Other, net of tax (4.9) 0.6 (0.3)
Other comprehensive income (loss) 36.5 (35.1) (25.3)
Comprehensive income $ 402.0 $ 215.0 $ 294.4