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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]      
Net sales $ 7,031.5 $ 7,750.5 $ 7,690.8
Cost of sales 4,444.9 5,062.9 5,100.9
Gross profit 2,586.6 2,687.6 2,589.9
Selling, general and administrative expenses 1,652.3 1,841.3 1,750.2
Amortization expense of intangible assets acquired 88.7 118.9 123.2
Stock appreciation rights expense 3.9 8.1 38.1
Restructuring and other charges 78.3 65.7 73.8
Operating profit 763.4 653.6 604.6
Interest expense (227.7) (287.7) (361.0)
Impairment of equity method investment [1]   (5.7) [2] (2.1)
Foreign currency exchange loss related to Venezuelan subsidiaries (33.1) (20.4) (13.1)
Gain from Claims Settlement [1],[2]   21.1  
Loss on debt redemption and refinancing activities (110.0) (102.5) [1],[2] (36.3) [1]
Gain on sale of business, net 13.4    
Other income (expense) , net 19.9 8.8 (11.9)
Earnings from continuing operations before income tax provision 425.9 267.2 180.2
Income tax provision 90.5 9.1 84.9
Net earnings from continuing operations 335.4 258.1 [1],[2] 95.3 [1]
Net earnings from discontinued operations     7.6
Net gain on sale of discontinued operations     22.9
Net income $ 335.4 $ 258.1 [3] $ 125.8 [3]
Basic      
Continuing operations $ 1.63 $ 1.22 $ 0.49
Discontinued operations     0.16
Net earnings per common share - basic 1.63 1.22 0.65
Diluted      
Continuing operations 1.62 1.20 0.44
Discontinued operations     0.14
Net earnings per common share - diluted 1.62 1.20 0.58
Dividends per common share $ 0.52 $ 0.52 $ 0.52
Weighted average number of common shares outstanding:      
Basic 203.9 210.0 194.6
Diluted 206.7 213.9 214.2
[1] For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2] Interest payments in 2014 include $417 million related to the Settlement agreement
[3] For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.