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STATEMENTS OF CONSOLIDATED INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Net sales $ 5,122.2 $ 4,867.7 $ 13,872.9 $ 13,786.4
Cost of goods sold 2,666.9 2,642.1 7,319.0 7,644.3
Gross profit $ 2,455.3 $ 2,225.6 $ 6,553.9 $ 6,142.1
Percent to net sales 47.90% 45.70% 47.20% 44.60%
Selling, general and administrative expenses $ 1,406.8 $ 1,345.2 $ 4,005.7 $ 3,920.5
Percent to net sales 27.50% 27.60% 28.90% 28.40%
Other general expense - net $ 10.5 $ 12.0 $ 13.1 $ 18.7
Amortization 78.7 77.5 234.2 234.4
Interest expense 83.3 85.3 257.6 265.5
Interest and net investment income (1.4) (0.6) (2.6) (1.6)
California litigation expense 0.0 (34.7) 0.0 (34.7)
Other expense - net 1.8 31.1 30.6 54.9
Income before income taxes 875.6 709.8 2,015.3 1,684.4
Income taxes 169.8 133.3 391.9 391.7
Net income $ 705.8 $ 576.5 $ 1,623.4 $ 1,292.7
Net income per common share:        
Basic (in dollars per share) $ 7.80 $ 6.28 $ 17.90 $ 14.07
Diluted (in dollars per share) $ 7.66 $ 6.16 $ 17.60 $ 13.82
Weighted average shares outstanding:        
Basic (in shares) 90,537,314 91,823,573 90,694,317 91,850,565
Diluted (in shares) 92,110,229 93,604,260 92,257,788 93,510,104