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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net sales $ 5,565.1 $ 5,578.8 $ 6,076.5
Other revenue 150.5 138.9 84.0
Total revenue 5,715.6 5,717.7 6,160.5
Costs, expenses and other:      
Cost of sales 2,203.3 2,257.0 2,445.4
Selling, general and administrative expenses 3,239.0 3,138.8 3,543.2
Impairment of goodwill 0.0 0.0 6.9
Operating profit 273.3 321.9 165.0
Interest expense 140.8 136.6 120.5
(Gain) loss on extinguishment of debt 0.0 (1.1) 5.5
Interest income (14.8) (15.8) (12.5)
Other expense, net 26.6 171.0 73.7
Gain on sale of business 0.0 0.0 (44.9)
Total other expenses 152.6 290.7 142.3
Income from continuing operations, before taxes 120.7 31.2 [1] 22.7
Income taxes (100.7) (124.6) (819.2)
Income (loss) from continuing operations, net of tax 20.0 [2] (93.4) [1],[2] (796.5)
Loss from discontinued operations, net of tax 0.0 (14.0) (349.1)
Net income (loss) 20.0 (107.4) (1,145.6)
Net loss (income) attributable to noncontrolling interests 2.0 (0.2) (3.3)
Net income (loss) attributable to Avon $ 22.0 [2] $ (107.6) [1],[2] $ (1,148.9)
Loss per share:      
Basic from continuing operations $ 0.00 [2],[3] $ (0.25) [1],[2],[3] $ (1.81)
Basic from discontinued operations 0.00 (0.03) (0.79)
Basic attributable to Avon 0.00 (0.29) (2.60)
Diluted from continuing operations 0.00 [2],[3] (0.25) [1],[2],[3] (1.81)
Diluted from discontinued operations 0.00 (0.03) (0.79)
Diluted attributable to Avon $ 0.00 $ (0.29) $ (2.60)
Weighted-average shares outstanding:      
Basic 439.7 437.0 435.2
Diluted 439.7 437.0 435.2
[1] (Loss) income from continuing operations, before taxes during 2016 was impacted by:•the deconsolidation of our Venezuelan operations. As a result of the change to the cost method of accounting, in the first quarter of 2016 we recorded a loss of $120.5 in other expense, net. The loss was comprised of $39.2 in net assets of the Venezuelan business and $81.3 in accumulated foreign currency translation adjustments within AOCI associated with foreign currency movements before Venezuela was accounted for as a highly inflationary economy;•a gain on extinguishment of debt of $3.9 before and after tax in the third quarter caused by the deferred gain associated with interest-rate swap agreement terminations, partially offset by the early tender premium paid, the deferred loss associated with treasury lock agreements, deal costs and the write-off of debt issuance costs and discounts associated with the cash tender offers in August 2016;•a loss on extinguishment of debt of $1.0 before and after tax in the fourth quarter caused by the premium paid for the repurchases, the write-off of debt issuance costs and discounts and the deferred loss associated with treasury lock agreements, partially offset by the deferred gain associated with interest-rate swap agreement terminations associated with the debt repurchases in October 2016;•a loss on extinguishment of debt of $2.9 before and after tax in the fourth quarter caused by the make-whole premium, the deferred loss associated with treasury lock agreements and the write-off of debt issuance costs and discounts and partially offset by the deferred gain associated with interest-rate swap agreement terminations associated with the prepayment of the remaining principal amount of the 4.20% Notes (as defined in Note 7, Debt and Other Financing) and 5.75% Notes (as defined in Note 7, Debt and Other Financing); and•a gain on extinguishment of debt of $1.1 before and after tax in the fourth quarter consisting of the discount received for the repurchases, partially offset by the write-off of debt issuance costs and discounts associated with the debt repurchases in December 2016.
[2] (Loss) income from continuing operations, net of tax during 2016 was impacted by a charge for valuation allowances for deferred tax assets outside of the U.S of $8.6, which was recorded in the fourth quarter, the release of a valuation allowance associated with Russia of $7.1 which was recorded in the second quarter, and an income tax benefit of $29.3 recognized as the result of the implementation of foreign tax planning strategies which was recorded in the first quarter.
[3] The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.