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Statements of Consolidated Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Net sales $ 344.1 $ 328.9 $ 679.2 $ 666.3
Cost of products sold:        
Cost of products sold, excluding depreciation and amortization and other items 275.5 261.5 558.4 525.1
Unrealized (gains) losses on derivative instruments (1.6) 4.2 (3.6) 4.9
Depreciation and amortization 7.7 7.0 15.1 14.0
Selling, administrative, research and development, and general 22.0 21.8 42.3 43.5
Net periodic pension benefit income relating to VEBAs (includes accumulated other comprehensive income reclassifications related to VEBA of $2.0 and $1.4 for the quarters ended June 30, 2014 and June 30, 2013, respectively, and $4.5 and $2.8 for the six months ended June 30, 2014 and June 30, 2013, respectively) (6.1) (5.7) (11.7) (11.3)
Total selling, administrative, research and development, and general 15.9 16.1 30.6 32.2
Other operating charges, net (0.2) 0 (0.2) 0
Total costs and expenses 297.7 288.8 600.7 576.2
Operating income 46.4 40.1 78.5 90.1
Other (expense) income:        
Interest expense (9.2) (9.0) (18.0) (18.3)
Other income (expense), net (includes accumulated other comprehensive income reclassifications for realized gains on available for sale securities of $0.1 and $0.2 for the quarters ended June 30, 2014 and June 30, 2013, respectively, and $0.2 and $0.6 for the six months ended June 30, 2014 and June 30, 2013, respectively) 1.8 (0.8) 3.7 0.2
Income before income taxes 39.0 30.3 64.2 72.0
Income tax provision (includes aggregate income tax expense from reclassification items of $(0.7) and $(0.4) for the quarters ended June 30, 2014 and June 30, 2013, respectively, and $(1.6) and $(0.8) for the six months ended June 30, 2014 and June 30, 2013, respectively) (14.5) (11.7) (23.9) (19.9)
Net income $ 24.5 $ 18.6 $ 40.3 $ 52.1
Earnings per common share, Basic:        
Net income per share $ 1.38 $ 0.99 $ 2.25 $ 2.73
Earnings per common share, Diluted:        
Net income per share $ 1.33 $ 0.98 $ 2.18 $ 2.70
Weighted-average number of common shares outstanding (in thousands):        
Basic 17,841 [1] 18,742 [1] 17,889 [1] 19,027 [1]
Diluted 18,458 [2] 18,945 [2] 18,512 [2] 19,256 [2]
[1] The basic weighted-average number of common shares outstanding during the period excludes non-vested common shares, restricted stock units, performance shares and market-based shares.
[2] The diluted weighted-average number of common shares outstanding during the periods were calculated using the treasury method.