XML 30 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]      
Net sales $ 1,914.3 $ 1,941.0 $ 1,494.7
Cost of sales 667.8 668.3 545.1
Gross profit 1,246.5 1,272.7 949.6
Selling, general and administrative expenses 1,002.5 1,009.5 731.7
Acquisition and integration costs 8.0 6.4 25.4
Restructuring charges and other, net 10.5 21.3 3.5
Goodwill impairment charge 9.7 0.0 0.0
Operating income 215.8 235.5 189.0
Other expenses, net:      
Interest expense 83.3 84.4 73.8
Interest expense – preferred stock dividends 0.0 0.0 5.0
Amortization of debt issuance costs 5.7 5.5 5.2
Loss on early extinguishment of debt 0.0 2.0 29.7
Foreign currency losses, net 15.7 25.0 3.7
Miscellaneous, net 0.4 1.2 1.0
Other expenses, net 105.1 118.1 118.4
Income from continuing operations before income taxes 110.7 117.4 70.6
Provision for income taxes 51.4 77.8 46.0
Income from continuing operations, net of taxes 59.3 39.6 24.6
(Loss) income from discontinued operations, net of taxes (3.2) 1.3 (30.4)
Net income (loss) 56.1 40.9 (5.8)
Other comprehensive income (loss):      
Foreign currency translation adjustment, net of tax [1] (18.1) (24.6) (4.1)
Amortization of pension related costs, net of tax [2],[3] 7.2 4.5 7.7
Pension re-measurement, net of tax [4] (6.9) (69.6) 53.3
Pension settlement, net of tax [5] 17.3 0.0 0.0
Revaluation of derivative financial instruments, net of reclassifications into earnings [6] (1.6) (3.7) 1.5
Other comprehensive (loss) income [7] (2.1) (93.4) 58.4
Total comprehensive income (loss) $ 54.0 $ (52.5) $ 52.6
Basic earnings (loss) per common share:      
Continuing operations (usd per share) $ 1.13 $ 0.76 $ 0.47
Discontinued operations (usd per share) (0.06) 0.02 (0.58)
Net income (usd per share) 1.07 0.78 (0.11)
Diluted earnings (loss) per common share:      
Continuing operations (usd per share) 1.13 0.76 0.47
Discontinued operations (usd per share) (0.06) 0.02 (0.58)
Net income (usd per share) $ 1.07 $ 0.78 $ (0.11)
Weighted average number of common shares outstanding:      
Basic (shares) 52,431,193 52,359,897 52,356,798
Diluted (shares) 52,591,545 52,423,939 52,357,729
[1] Net of tax benefit of $5.1 million, $2.1 million and $3.3 million for 2015, 2014 and 2013, respectively.
[2] Net of tax expense of $1.3 million, $0.1 million and $1.2 million for 2015, 2014 and 2013, respectively.
[3] This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 14, “Savings Plan, Pension and Post-Retirement Benefits,” for additional information regarding net periodic benefit (income) costs.
[4] Net of tax (benefit) expense of $(3.3) million, $(42.0) million and $33.5 million for 2015, 2014 and 2013, respectively.
[5] Net of tax expense of $3.7 million.
[6] Net of tax (benefit) expense of $(1.0) million, $(2.3) million and $1.0 million for 2015, 2014 and 2013, respectively.
[7] See Note 17, “Accumulated Other Comprehensive Loss,” regarding the changes in the accumulated balances for each component of other comprehensive loss during each of 2015, 2014 and 2013.