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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Net sales $ 482.4 $ 497.9 $ 920.9 $ 967.7
Cost of sales 161.3 167.2 303.6 330.7
Gross profit 321.1 330.7 617.3 637.0
Selling, general and administrative expenses 259.3 263.6 508.6 509.8
Acquisition and integration costs 4.7 0.7 5.9 4.5
Restructuring charges and other, net (3.6) 3.8 (3.1) 17.3
Operating income 60.7 62.6 105.9 105.4
Other expenses, net:        
Interest expense 20.5 21.0 40.5 43.3
Amortization of debt issuance costs 1.4 1.4 2.8 2.8
Loss on early extinguishment of debt 0.0 0.1 0.0 2.0
Foreign currency (gains) losses, net (7.9) 7.2 8.0 8.6
Miscellaneous, net 0.2 0.0 0.2 0.1
Other expenses, net 14.2 29.7 51.5 56.8
Income from continuing operations before income taxes 46.5 32.9 54.4 48.6
Provision for income taxes 20.5 18.5 29.2 25.5
Income from continuing operations, net of taxes 26.0 14.4 25.2 23.1
Income (loss) from discontinued operations, net of taxes 0.0 3.7 (0.1) 0.5
Net income 26.0 18.1 25.1 23.6
Other comprehensive income (loss):        
Currency translation adjustment, net of tax [1] 0.8 (0.4) (12.6) 1.2
Amortization of pension related costs, net of tax [2],[3] (1.8) (1.1) (3.5) (2.3)
Revaluation of derivative financial instrument, net of tax [4] (0.1) (1.9) (2.0) (2.9)
Other comprehensive income (loss) 2.5 (1.2) (11.1) [5] 0.6
Total comprehensive income $ 28.5 $ 16.9 $ 14.0 $ 24.2
Basic earnings per common share:        
Continuing operations (usd per share) $ 0.50 $ 0.27 $ 0.48 $ 0.44
Discontinued operations (usd per share) 0.00 0.07 0.00 0.01
Net income (usd per share) 0.50 0.34 0.48 0.45
Diluted earnings per common share:        
Continuing operations (usd per share) 0.49 0.27 0.48 0.44
Discontinued operations (usd per share) 0.00 0.07 0.00 0.01
Net income (usd per share) $ 0.49 $ 0.34 $ 0.48 $ 0.45
Weighted average number of common shares outstanding:        
Basic (shares) 52,440,580 52,356,798 52,413,552 52,356,798
Diluted (shares) 52,609,805 52,386,381 52,587,868 52,377,214
[1] Net of tax benefit of $0.2 million and $0.1 million for the three months ended June 30, 2015 and 2014, respectively, and $2.8 million and $0.6 million for the six months ended June 30, 2015 and 2014, respectively.
[2] Net of tax benefit of $0.4 million and nil for the three months ended June 30, 2015 and 2014, respectively, and $0.7 million and nil for the six months ended June 30, 2015 and 2014, respectively.
[3] This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 11, “Pension and Post-Retirement Benefits,” for additional information regarding net periodic benefit (income) costs.
[4] Net of tax benefit of nil and $1.2 million for the three months ended June 30, 2015 and 2014, respectively, and $1.2 million and $1.8 million for the six months ended June 30, 2015 and 2014, respectively.
[5] See Note 13, “Accumulated Other Comprehensive Loss,” regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2015.