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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Net sales $ 666.5 $ 604.8 $ 1,907.1 $ 1,533.3
Cost of sales 290.3 243.4 823.6 568.8
Gross profit 376.2 361.4 1,083.5 964.5
Selling, general and administrative expenses 362.6 285.7 1,075.3 792.8
Acquisition and integration costs 12.7 33.5 40.2 39.5
Restructuring charges and other, net 6.4 0.5 11.3 2.3
Operating (loss) income (5.5) 41.7 (43.3) 129.9
Other expenses:        
Interest expense 38.6 27.4 110.3 69.3
Amortization of debt issuance costs 2.3 1.7 6.8 4.6
Loss on early extinguishment of debt 0.0 16.9 0.0 16.9
Foreign currency (gains) losses, net (3.1) 1.2 (16.8) 6.3
Miscellaneous, net 0.3 (0.6) 1.8 (0.1)
Other expenses 38.1 46.6 102.1 97.0
(Loss) income from continuing operations before income taxes (43.6) (4.9) (145.4) 32.9
(Benefit from) provision for income taxes (10.8) (0.4) (37.8) 16.0
(Loss) income from continuing operations, net of taxes (32.8) (4.5) (107.6) 16.9
Income (loss) from discontinued operations, net of taxes 0.4 (0.2) 1.3 (2.3)
Net (loss) income (32.4) (4.7) (106.3) 14.6
Other comprehensive income:        
Foreign currency translation adjustments, net of tax [1] (1.2) 2.7 5.3 8.0
Amortization of pension related costs, net of tax [2],[3] 2.0 1.8 6.1 5.6
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 1.8 0.0
Revaluation of derivative financial instruments, net of reclassifications into earnings, net of tax [6] 0.0 0.8 0.0 0.1
Other comprehensive income, net 1.4 5.3 15.8 [7] 13.7
Total comprehensive (loss) income $ (31.0) $ 0.6 $ (90.5) $ 28.3
Basic (loss) earnings per common share:        
Continuing operations (usd per share) $ (0.62) $ (0.09) $ (2.04) $ 0.32
Discontinued operations (usd per share) 0.01 0.00 0.02 (0.04)
Net (loss) income (usd per share) (0.61) (0.09) (2.02) 0.28
Diluted (loss) earnings per common share:        
Continuing operations (usd per share) (0.62) (0.09) (2.04) 0.32
Discontinued operations (usd per share) 0.01 0.00 0.02 (0.04)
Net (loss) income (usd per share) $ (0.61) $ (0.09) $ (2.02) $ 0.28
Weighted average number of common shares outstanding:        
Basic (in shares) 52,615,412 52,498,246 52,584,954 52,498,840
Diluted (in shares) 52,615,412 52,498,246 52,584,954 52,617,740
[1] Net of tax benefit of $0.2 million and tax expense $0.7 million for the three months ended September 30, 2017 and 2016, respectively, and tax expense of $1.5 million and $1.3 million for the nine months ended September 30, 2017 and 2016, respectively.
[2] Net of tax expense of $0.4 million for each of the three months ended September 30, 2017 and 2016, and $1.3 million and $1.1 million for nine months ended September 30, 2017 and 2016, respectively.
[3] This amount 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 nine months ended September 30, 2017.
[5] Net of tax benefit of $0.4 million and $1.1 million for the three and nine months ended September 30, 2017, respectively.
[6] Net of tax expense of $0.5 million and $0.1 million for the three and nine months ended September 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 nine months ended September 30, 2017.