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Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income        
Net sales $ 1,071.7 $ 996.9 $ 1,929.0 $ 1,790.9
Cost of goods sold 757.7 675.7 1,367.3 1,224.3
Selling and administrative expenses 141.6 131.5 281.3 255.6
Research and development expenses 13.9 12.0 26.7 23.3
Other income, net (0.3) (1.2) (1.8) (1.8)
Earnings before interest and income taxes 158.8 178.9 255.5 289.5
Interest expense, net 7.1 8.2 13.7 16.6
Earnings before income taxes from continuing operations 151.7 170.7 241.8 272.9
Income tax expense 49.4 55.4 78.0 89.1
Income from continuing operations 102.3 115.3 163.8 183.8
Discontinued operations:        
(Loss) income before income taxes (0.1) (0.1) 0.4 (0.1)
Income tax (benefit) expense (0.1) 0.0 0.1 0.0
(Loss) income from discontinued operations 0.0 (0.1) 0.3 (0.1)
Net income $ 102.3 $ 115.2 $ 164.1 $ 183.7
Basic earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) $ 1.59 $ 1.78 $ 2.53 $ 2.84
Income from discontinued operations (in dollars per share) 0 0 0 0
Basic earnings per share (in dollars per share) 1.59 1.78 2.53 2.84
Diluted earnings per share attributable to common shares:        
Income from continuing operations (in dollars per share) 1.58 1.75 2.52 2.80
Income from discontinued operations (in dollars per share) 0 0 0 0
Diluted earnings per share (in dollars per share) $ 1.58 $ 1.75 $ 2.52 $ 2.80
Average shares outstanding (in thousands):        
Basic (in shares) 63,746 64,246 64,048 64,131
Diluted (in shares) 64,140 65,112 64,473 65,050
Dividends declared and paid $ 23.1 $ 19.5 $ 45.8 $ 39.0
Dividends declared and paid per share (in dollars per share) $ 0.35 $ 0.30 $ 0.70 $ 0.60
Comprehensive Income        
Net income $ 102.3 $ 115.2 $ 164.1 $ 183.7
Other comprehensive income (loss)        
Foreign currency translation 19.8 (15.0) 31.2 (4.8)
Accrued post-retirement benefit liability, net of tax 0.4 0.4 0.8 0.8
Other, net of tax (0.6) (0.1) (0.7) (0.3)
Other comprehensive income (loss) 19.6 (14.7) 31.3 (4.3)
Comprehensive income $ 121.9 $ 100.5 $ 195.4 $ 179.4