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STATEMENTS OF CONSOLIDATED INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 4,604.0 $ 4,877.8 $ 8,750.7 $ 8,918.7
Cost of goods sold 2,395.1 2,696.4 4,652.1 5,002.2
Gross profit $ 2,208.9 $ 2,181.4 $ 4,098.6 $ 3,916.5
Percent to net sales 48.00% 44.70% 46.80% 43.90%
Selling, general and administrative expenses $ 1,291.3 $ 1,331.3 $ 2,598.9 $ 2,575.3
Percent to net sales 28.00% 27.30% 29.70% 28.90%
Other general (income) expense - net $ (1.1) $ 7.2 $ 2.6 $ 6.7
Amortization 77.4 78.1 155.5 156.9
Interest expense 88.1 89.2 174.3 180.2
Interest and net investment income (0.6) (0.6) (1.2) (1.0)
Other expense - net 6.4 0.5 28.8 23.8
Income before income taxes 747.4 675.7 1,139.7 974.6
Income taxes 151.5 204.7 222.1 258.4
Net income $ 595.9 $ 471.0 $ 917.6 $ 716.2
Net income per common share:        
Basic (in dollars per share) $ 6.59 $ 5.13 $ 10.11 $ 7.80
Diluted (in dollars per share) $ 6.48 $ 5.03 $ 9.93 $ 7.65
Weighted average shares outstanding:        
Basic (in shares) 90,469,663 91,775,295 90,772,818 91,864,062
Diluted (in shares) 91,952,798 93,561,725 92,437,775 93,566,627