XML 15 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Income Statement [Abstract]    
Net sales $ 439.6 $ 438.5
Cost of sales 153.9 142.3
Gross profit 285.7 296.2
Selling, general and administrative expenses 248.1 249.3
Acquisition and integration costs 0.5 1.2
Restructuring charges and other, net 1.3 0.5
Operating income 35.8 45.2
Other expenses, net:    
Interest expense 21.0 20.0
Amortization of debt issuance costs 1.5 1.4 [1]
Foreign currency (gains) losses, net (3.4) 15.9
Miscellaneous, net 0.3 0.0
Other expenses, net 19.4 37.3
Income from continuing operations before income taxes 16.4 7.9
Provision for income taxes 5.8 8.7
Income (loss) from continuing operations, net of taxes 10.6 (0.8)
Income (loss) from discontinued operations, net of taxes 0.4 (0.1)
Net income (loss) 11.0 (0.9) [1]
Other comprehensive income (loss):    
Foreign currency translation adjustment, net of tax [2] 2.7 (13.4)
Amortization of pension related costs, net of tax [3],[4] 1.8 1.7
Revaluation of derivative financial instruments, net of reclassifications into earnings [5] (0.9) (1.9)
Other comprehensive income (loss) 3.6 [6] (13.6)
Total comprehensive income (loss) $ 14.6 $ (14.5)
Basic earnings (loss) per common share:    
Continuing operations (usd per share) $ 0.20 $ (0.02)
Discontinued operations (usd per share) 0.01 0.00
Net income (loss) (usd per share) 0.21 (0.02)
Diluted earnings (loss) per common share:    
Continuing operations (usd per share) 0.20 (0.02)
Discontinued operations (usd per share) 0.01 0.00
Net income (loss) (usd per share) $ 0.21 $ (0.02)
Weighted average number of common shares outstanding:    
Basic (shares) 52,482,413 52,386,223
Diluted (shares) 52,649,763 52,386,223
[1] Adjusted as a result of the adoption of certain accounting pronouncements beginning on January 1, 2016. See Note 1, "Description of Business and Summary of Significant Accounting Policies - Recently Adopted Accounting Pronouncements" for details of these adjustments.
[2] Net of tax expense (benefit) of $0.1 million and $(2.6) million for the three months ended March 31, 2016 and 2015, respectively.
[3] Net of tax expense of $0.3 million for each of the three months ended March 31, 2016 and 2015.
[4] 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.
[5] Net of tax benefit of $0.5 million and $1.2 million for the three months ended March 31, 2016 and 2015, respectively.
[6] See Note 13, “Accumulated Other Comprehensive Loss,” regarding the changes in the accumulated balances for each component of other comprehensive income (loss) during the three months ended March 31, 2016.