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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Net sales $ 645.7 $ 488.9 $ 1,240.6 $ 928.5
Cost of sales 268.2 171.5 533.3 325.4
Gross profit 377.5 317.4 707.3 603.1
Selling, general and administrative expenses 359.1 259.0 712.7 507.1
Acquisition and integration costs 10.0 5.5 27.5 6.0
Restructuring charges and other, net 3.7 0.5 4.9 1.8
Operating income (loss) 4.7 52.4 (37.8) 88.2
Other expenses, net:        
Interest expense 36.7 20.9 71.7 41.9
Amortization of debt issuance costs 2.3 1.4 4.5 2.9
Foreign currency (gains) losses, net (9.4) 8.5 (13.7) 5.1
Miscellaneous, net 0.3 0.2 1.5 0.5
Other expenses, net 29.9 31.0 64.0 50.4
(Loss) income from continuing operations before income taxes (25.2) 21.4 (101.8) 37.8
Provision for (benefit from) income taxes 11.9 10.6 (27.0) 16.4
(Loss) income from continuing operations, net of taxes (37.1) 10.8 (74.8) 21.4
Income (loss) from discontinued operations, net of taxes 0.6 (2.5) 0.9 (2.1)
Net (loss) income (36.5) 8.3 (73.9) 19.3
Other comprehensive income:        
Foreign currency translation adjustments, net of tax [1] 1.8 2.6 6.5 5.3
Amortization of pension related costs, net of tax [2],[3] 2.1 2.0 4.1 3.8
Pension curtailment gain, net of tax [4] 0.0 0.0 2.6 0.0
Reclassification into earnings of accumulated losses from the de-designated 2013 Interest Rate Swap, net of tax [5] 0.6 0.0 1.2 0.0
Revaluation of derivative financial instruments, net of reclassifications into earnings, net of tax [6] 0.0 0.2 0.0 (0.7)
Other comprehensive income, net 4.5 4.8 14.4 [7] 8.4
Total comprehensive (loss) income $ (32.0) $ 13.1 $ (59.5) $ 27.7
Basic (loss) earnings per common share:        
Continuing operations (usd per share) $ (0.70) $ 0.21 $ (1.42) $ 0.41
Discontinued operations (usd per share) 0.00 (0.05) 0.01 (0.04)
Net (loss) income (usd per share) (0.70) 0.16 (1.41) 0.37
Diluted (loss) earnings per common share:        
Continuing operations (usd per share) (0.70) 0.21 (1.42) 0.41
Discontinued operations (usd per share) 0.00 (0.05) 0.01 (0.04)
Net (loss) income (usd per share) $ (0.70) $ 0.16 $ (1.41) $ 0.37
Weighted average number of common shares outstanding:        
Basic (in shares) 53,096,935 52,515,869 52,569,473 52,499,141
Diluted (in shares) 53,096,935 52,592,368 52,569,473 52,621,066
[1] Net of tax expense of $0.7 million and $0.5 million for the three months ended June 30, 2017 and 2016, respectively, and $1.7 million and $0.6 million for the six months ended June 30, 2017 and 2016, respectively.
[2] Net of tax expense of $0.5 million and $0.4 million for the three months ended June 30, 2017 and 2016, respectively, and $0.9 million and $0.7 million for six months ended June 30, 2017 and 2016, respectively.
[3] This other comprehensive (loss) 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 expense of $0.3 million for the six months ended June 30, 2017, respectively.
[5] Net of tax benefit of $0.3 million and $0.7 million for the three and six months ended June 30, 2017, respectively.
[6] Net of tax expense (benefit) of $0.1 million and $(0.4) million for the three and six months ended June 30, 2016, respectively.
[7] See Note 13, “Accumulated Other Comprehensive Loss,” regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2017.