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Statements of Consolidated Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Net sales $ 415.4 $ 356.3 $ 803.4 $ 711.6
Cost of products sold:        
Cost of products sold, excluding depreciation and amortization and other items [1] 343.4 289.6 660.1 552.3
Depreciation and amortization 10.9 9.5 21.4 19.1
Selling, general, administrative, research and development [2] 26.4 26.3 50.0 50.0
Goodwill impairment 0.0 18.4 0.0 18.4
Other operating charges, net 0.0 0.0 0.1 0.0
Total costs and expenses 380.7 343.8 731.6 639.8
Operating income 34.7 12.5 71.8 71.8
Other (expense) income:        
Interest expense (5.7) (5.5) (11.3) (11.1)
Other (expense) income, net (0.5) (0.1) (0.4) 0.7
Income before income taxes 28.5 6.9 60.1 61.4
Income tax provision (7.8) (2.2) (13.7) (20.7)
Net income $ 20.7 $ 4.7 $ 46.4 $ 40.7
Net income per common share:        
Basic (in dollars per share) $ 1.24 $ 0.28 $ 2.78 $ 2.37
Diluted (in dollars per share) $ 1.22 $ 0.27 $ 2.74 $ 2.34
Weighted-average number of common shares outstanding (in thousands):        
Basic (shares) 16,685 17,003 16,696 17,193
Diluted (shares) 16,905 17,201 16,962 17,418
Cash dividends declared (in dollars per share) $ 0.55 $ 0.50 $ 1.10 $ 1.00
[1] See Note 4 for discussion of our adoption of ASU 2017-12 (as defined in Note 1) and the related reclassification of amounts previously presented in the Statements of Consolidated Income within Unrealized loss (gain) on derivative instruments and now included within Cost of products sold, excluding depreciation and amortization and other items.
[2] See Note 1 for discussion of our adoption of ASU 2017-07 (as defined in Note 1) and the related reclassification of amounts previously presented in the Statements of Consolidated Income within Selling, general, administrative, research and development and now included within Other (expense) income.