XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Statement [Abstract]        
Net sales $ 350.1 $ 357.1 $ 682.0 $ 687.8
Cost of sales 124.8 124.4 241.7 240.1
Gross profit 225.3 232.7 440.3 447.7
Selling, general and administrative expenses 163.1 189.9 330.6 360.6
Restructuring charges and other, net 3.1 0 3.3 0
Operating income 59.1 42.8 106.4 87.1
Other expenses, net:        
Interest expense 15.8 19.6 34.6 39.6
Interest expense - preferred stock dividends 1.6 1.6 3.2 3.2
Amortization of debt issuance costs 1.2 1.3 2.5 2.6
Loss on early extinguishment of debt 0 0 27.9 0
Foreign currency (gains) losses, net (0.8) 0.4 2.5 2.1
Miscellaneous, net (0.1) 0.1 0 0.3
Other expenses, net 17.7 23.0 70.7 47.8
Income from continuing operations before income taxes 41.4 19.8 35.7 39.3
Provision for income taxes 17.0 9.1 18.2 20.1
Income from continuing operations, net of taxes 24.4 10.7 17.5 19.2
Income from discontinued operations, net of taxes 0.3 0.4 0.3 0.4
Net income 24.7 11.1 17.8 19.6
Other comprehensive (loss) income:        
Currency translation adjustment, net of tax (3.9) [1] 1.0 [1] (4.7) [1] 2.2 [1]
Amortization of pension related costs, net of tax 1.9 [2],[3] 1.9 [2],[3] 3.8 [2],[3] 5.7 [2],[3]
Other comprehensive (loss) income (2.0) 2.9 (0.9) [4] 7.9
Total comprehensive income $ 22.7 $ 14.0 $ 16.9 $ 27.5
Income from Continuing Operations, Per Basic Share $ 0.46 $ 0.20 $ 0.33 $ 0.36
Income from Discontinued Operations, Net of Tax, Per Basic Share $ 0.01 $ 0.01 $ 0.01 $ 0.01
Basic earnings per share (usd per share) $ 0.47 $ 0.21 $ 0.34 $ 0.37
Income from Continuing Operations, Per Diluted Share $ 0.46 $ 0.20 $ 0.33 $ 0.36
Income from Discontinued Operations, Net of Tax, Per Diluted Share $ 0.01 $ 0.01 $ 0.01 $ 0.01
Diluted earnings per share (usd per share) $ 0.47 $ 0.21 $ 0.34 $ 0.37
Weighted average number of common shares outstanding:        
Basic (shares) 52,356,798 52,349,583 52,356,798 52,340,463
Diluted (shares) 52,356,798 52,357,163 52,356,798 52,357,004
[1] Net of tax expense of $2.0 million and $2.1 million for the three months ended June 30, 2013 and 2012, respectively, and $2.3 million and $1.4 million for the six months ended June 30, 2013 and 2012, respectively.
[2] Net of tax benefit of $(0.4) million and $(0.2) million for the three months ended June 30, 2013 and 2012, respectively, and $(0.7) million and $(0.5) million for the six months ended June 30, 2013 and 2012, respectively.
[3] This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 2, “Pension and Post-Retirement Benefits,” for additional information regarding net periodic benefit (income) costs.
[4] See Note 8, “Accumulated Other Comprehensive Loss,” regarding the changes in the accumulated balances for each component of other comprehensive loss during the first six months of 2013.