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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Net sales $ 471.5 $ 472.3 $ 1,392.4 $ 1,440.0
Cost of sales 167.8 164.6 471.4 495.3
Gross profit 303.7 307.7 921.0 944.7
Selling, general and administrative expenses 244.1 251.8 752.7 761.6
Acquisition and integration costs 0.6 0.9 6.5 5.4
Restructuring charges and other, net 4.0 0.8 0.9 18.1
Operating income 55.0 54.2 160.9 159.6
Other expenses, net:        
Interest expense 21.5 20.6 62.0 63.9
Amortization of debt issuance costs 1.4 1.3 4.2 4.1
Loss on early extinguishment of debt 0.0 0.0 0.0 2.0
Foreign currency (gains) losses, net (0.7) 9.3 7.3 17.9
Miscellaneous, net 0.3 0.1 0.5 0.2
Other expenses, net 22.5 31.3 74.0 88.1
Income from continuing operations before income taxes 32.5 22.9 86.9 71.5
Provision for income taxes 24.6 8.7 53.8 34.2
Income from continuing operations, net of taxes 7.9 14.2 33.1 37.3
(Loss) income from discontinued operations, net of taxes (1.7) 0.4 (1.8) 0.9
Net income 6.2 14.6 31.3 38.2
Other comprehensive income (loss):        
Currency translation adjustment, net of tax [1] (2.5) (18.3) (15.1) (17.1)
Amortization of pension related costs, net of tax [2],[3] (1.9) (1.1) (5.4) (3.4)
Revaluation of derivative financial instrument, net of tax [4] (0.7) 0.6 (2.7) (2.3)
Other comprehensive (loss) (1.3) (16.6) (12.4) [5] (16.0)
Total comprehensive income (loss) $ 4.9 $ (2.0) $ 18.9 $ 22.2
Basic earnings per common share:        
Continuing operations (usd per share) $ 0.15 $ 0.27 $ 0.63 $ 0.71
Discontinued operations (usd per share) (0.03) 0.01 (0.03) 0.02
Net income (usd per share) 0.12 0.28 0.60 0.73
Diluted earnings per common share:        
Continuing operations (usd per share) 0.15 0.27 0.63 0.71
Discontinued operations (usd per share) (0.03) 0.01 (0.03) 0.02
Net income (usd per share) $ 0.12 $ 0.28 $ 0.60 $ 0.73
Weighted average number of common shares outstanding:        
Basic (shares) 52,440,580 52,356,798 52,422,660 52,356,798
Diluted (shares) 52,603,711 52,414,963 52,593,207 52,389,935
[1] Net of tax benefit of $3.5 million and $0.2 million for the three months ended September 30, 2015 and 2014, respectively, and $6.3 million and $0.4 million for the nine months ended September 30, 2015 and 2014, respectively.
[2] Net of tax benefit of $0.3 million and nil for the three months ended September 30, 2015 and 2014, respectively, and $1.0 million and nil for the nine months ended September 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 $0.5 million and $0.4 million for the three months ended September 30, 2015 and 2014, respectively, and $1.7 million and $1.4 million for the nine months ended September 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 nine months ended September 30, 2015.