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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net sales $ 604.8 $ 471.5 $ 1,533.3 $ 1,392.4
Cost of sales 243.4 167.8 568.8 471.4
Gross profit 361.4 303.7 964.5 921.0
Selling, general and administrative expenses 285.7 244.1 792.8 752.7
Acquisition and integration costs 33.5 0.6 39.5 6.5
Restructuring charges and other, net 0.5 4.0 2.3 0.9
Operating income 41.7 55.0 129.9 160.9
Other expenses, net:        
Interest expense 27.4 21.5 69.3 62.0
Amortization of debt issuance costs 1.7 1.4 4.6 4.2 [1]
Loss on early extinguishment of debt 16.9 0.0 16.9 0.0 [1]
Foreign currency losses (gains), net 1.2 (0.7) 6.3 7.3
Miscellaneous, net (0.6) 0.3 (0.1) 0.5
Other expenses, net 46.6 22.5 97.0 74.0
(Loss) income from continuing operations before income taxes (4.9) 32.5 32.9 86.9
(Benefit from) provision for income taxes (0.4) 24.6 16.0 53.8
(Loss) income from continuing operations, net of taxes (4.5) 7.9 16.9 33.1
Loss from discontinued operations, net of taxes (0.2) (1.7) (2.3) (1.8)
Net (loss) income (4.7) 6.2 14.6 31.3 [1]
Other comprehensive income (loss):        
Foreign currency translation adjustment, net of tax [2] 2.7 (2.5) 8.0 (15.1)
Amortization of pension related costs, net of tax [3],[4] 1.8 1.9 5.6 5.4
Revaluation of derivative financial instruments, net of reclassifications into earnings [5] 0.8 (0.7) 0.1 (2.7)
Other comprehensive income (loss) 5.3 (1.3) 13.7 [6] (12.4)
Total comprehensive income $ 0.6 $ 4.9 $ 28.3 $ 18.9
Basic (loss) earnings per common share:        
Continuing operations (usd per share) $ (0.09) $ 0.15 $ 0.32 $ 0.63
Discontinued operations (usd per share) 0.00 (0.03) (0.04) (0.03)
Net income (usd per share) (0.09) 0.12 0.28 0.60
Diluted (loss) earnings per common share:        
Continuing operations (usd per share) (0.09) 0.15 0.32 0.63
Discontinued operations (usd per share) 0.00 (0.03) (0.04) (0.03)
Net income (usd per share) $ (0.09) $ 0.12 $ 0.28 $ 0.60
Weighted average number of common shares outstanding:        
Basic (shares) 52,498,246 52,440,580 52,498,840 52,422,660
Diluted (shares) 52,498,246 52,603,711 52,617,740 52,593,207
[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 expense (benefit) of $0.7 million and ($3.5 million) for the three months ended September 30, 2016 and 2015, respectively, and $1.3 million and ($6.3 million) for the nine months ended September 30, 2016 and 2015, respectively.
[3] Net of tax expense of $0.4 million and $0.3 million for each of the three months ended September 30, 2016 and 2015, respectively, and $1.1 million and $1.0 million for each of the nine months ended September 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 $0.5 million and ($0.5 million) for the three months ended September 30, 2016 and 2015, respectively, and $0.1 million and ($1.7 million) for the nine months ended September 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 nine months ended September 30, 2016.