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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Net sales $ 488.9 $ 482.4 $ 928.5 $ 920.9
Cost of sales 171.5 161.3 325.4 303.6
Gross profit 317.4 321.1 603.1 617.3
Selling, general and administrative expenses 259.0 259.3 507.1 508.6
Acquisition and integration costs 5.5 4.7 6.0 5.9
Restructuring charges and other, net 0.5 (3.6) 1.8 (3.1)
Operating income 52.4 60.7 88.2 105.9
Other expenses, net:        
Interest expense 20.9 20.5 41.9 40.5
Amortization of debt issuance costs 1.4 1.4 2.9 2.8 [1]
Foreign currency loses (gains), net 8.5 (7.9) 5.1 8.0
Miscellaneous, net 0.2 0.2 0.5 0.2
Other expenses, net 31.0 14.2 50.4 51.5
Income from continuing operations before income taxes 21.4 46.5 37.8 54.4
Provision for income taxes 10.6 20.5 16.4 29.2
Income from continuing operations, net of taxes 10.8 26.0 21.4 25.2
Loss from discontinued operations, net of taxes (2.5) 0.0 (2.1) (0.1)
Net income 8.3 26.0 19.3 25.1 [1]
Other comprehensive income (loss):        
Foreign currency translation adjustment, net of tax [2] 2.6 0.8 5.3 (12.6)
Amortization of pension related costs, net of tax [3],[4] 2.0 1.8 3.8 3.5
Revaluation of derivative financial instruments, net of reclassifications into earnings [5] 0.2 (0.1) (0.7) (2.0)
Other comprehensive income (loss) 4.8 2.5 8.4 [6] (11.1)
Total comprehensive income $ 13.1 $ 28.5 $ 27.7 $ 14.0
Basic earnings per common share:        
Continuing operations (usd per share) $ 0.21 $ 0.50 $ 0.41 $ 0.48
Discontinued operations (usd per share) (0.05) 0.00 (0.04) 0.00
Net income (loss) (usd per share) 0.16 0.50 0.37 0.48
Diluted earnings per common share:        
Continuing operations (usd per share) 0.21 0.49 0.41 0.48
Discontinued operations (usd per share) (0.05) 0.00 (0.04) 0.00
Net income (loss) (usd per share) $ 0.16 $ 0.49 $ 0.37 $ 0.48
Weighted average number of common shares outstanding:        
Basic (shares) 52,515,869 52,440,580 52,499,141 52,413,552
Diluted (shares) 52,592,368 52,609,805 52,621,066 52,587,868
[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 $0.5 million and $0.2 million for the three months ended June 30, 2016 and 2015, respectively, and $0.6 million and $(2.8) million for the six months ended June 30, 2016 and 2015, respectively.
[3] Net of tax expense of $0.4 million for each of the three months ended June 30, 2016 and 2015, respectively, and $0.7 million for each of the six months ended June 30, 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 expense (benefit) of $0.1 million and nil for the three months ended June 30, 2016 and 2015, respectively, and $(0.4) million and $(1.2) million for the six months ended June 30, 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 during the six months ended June 30, 2016.