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Restatement of Previously Issued Financial Statements (Tables)
 6 Months Ended
Jun. 30, 2012
Accounting Changes and Error Corrections [Abstract]  
Restatement of Previously Issued Financial Statements
The following is a summary of the effects of the restatement on the Company's Statements of Consolidated Income, Statements of Comprehensive Income and Statements of Cash Flows for the quarter ended June 30, 2011 (in millions of dollars, except per share amounts):
 
 
 
 
 
 
 
Quarter ended June 30, 2011
 
Previously Reported
 
Adjustment
 
Restated
Statements of Consolidated Income:
 
 
 
 
 
Selling, administrative, research and development, and general
$
17.3

 
$
0.7

 
$
18.0

Total costs and expenses
323.4

 
0.7

 
324.1

Operating income
15.4

 
(0.7
)
 
14.7

Income before income taxes
7.6

 
(0.7
)
 
6.9

Income tax provision
(3.1
)
 
0.3

 
(2.8
)
Net income
$
4.5

 
$
(0.4
)
 
$
4.1

Earnings per common share, Basic:
 
 
 
 
 
Net income per share
$
0.24

 
$
(0.02
)
 
$
0.22

Earnings per common share, Diluted:
 
 
 
 
 
Net income per share1
$
0.24

 
$
(0.02
)
 
$
0.21

 
 
 
 
 
 
 
Six months ended June 30, 2011
 
Previously Reported
 
Adjustment
 
Restated
Statements of Consolidated Income:
 
 
 
 
 
Selling, administrative, research and development, and general
$
32.2

 
$
1.4

 
$
33.6

Total costs and expenses
625.5

 
1.4

 
626.9

Operating income
35.9

 
(1.4
)
 
34.5

Income before income taxes
25.3

 
(1.4
)
 
23.9

Income tax provision
(9.5
)
 
0.5

 
(9.0
)
Net income
$
15.8

 
$
(0.9
)
 
$
14.9

Earnings per common share, Basic:
 
 
 
 
 
Net income per share
$
0.83

 
$
(0.04
)
 
$
0.79

Earnings per common share, Diluted:
 
 
 
 
 
Net income per share1
$
0.83

 
$
(0.04
)
 
$
0.78

 
 
 
 
 
 
Statements of Consolidated Comprehensive Income:2
 
 
 
 
 
Net income
$
15.8

 
$
(0.9
)
 
$
14.9

Other comprehensive income:
 
 
 
 
 
Reclassification adjustments:
 
 
 
 
 
  Amortization of net actuarial loss
—

 
0.3

 
0.3

  Less: tax impact on amortization of net actuarial loss
—

 
(0.1
)
 
(0.1
)
  Amortization of prior service cost
—

 
2.1

 
2.1

  Less: tax impact on amortization of prior service cost
—

 
(0.8
)
 
(0.8
)
Other comprehensive (loss) income, net of tax
(0.3
)
 
1.5

 
1.2

Comprehensive income
$
15.5

 
$
0.6

 
$
16.1

 
 
 
 
 
 
Statements of Consolidated Cash Flows:
 
 
 
 
 
Net income
$
15.8

 
$
(0.9
)
 
$
14.9

Deferred income taxes
8.7

 
(0.5
)
 
8.2

Non-cash net periodic benefit cost3
(4.4
)
 
1.4

 
(3.0
)
______________________________
1 
Beginning 2012, the Company presented diluted earnings per share under the treasury method because it became more dilutive than the diluted earnings per share under the two-class method. As such, restated diluted earnings per share for the quarter and six months ended June 30, 2011 were calculated based on the treasury method to conform to current period presentation. Previously reported diluted earnings per share for the quarter and six months ended June 30, 2011 are based on the two-class method. The "Adjustment" column reflects the difference between restated diluted earnings per share using the two-class method and the previously reported diluted earnings per share.
2 
Total comprehensive income and components of other comprehensive income (loss) were previously included in the Statement of Stockholders' Equity for interim reporting periods prior to 2012. The Company adopted ASU No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income, beginning with the annual period ended December 31, 2011 and presented the Statement of Comprehensive Income as its own separate statement. As such, the "Previously Reported" column reflects the changes in the presentation.
3 
Non-cash net periodic benefit cost was included within Other non-cash charges in the six months ended June 30, 2011. Such amount has been reclassified from Other non-cash charges to conform to current period presentation.