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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Net sales $ 1,032.2 $ 1,005.9
Cost of sales 695.8 670.3
Gross profit 336.4 335.6
Selling, general and administrative expenses 195.8 185.1
Amortization expense of intangible assets acquired 5.0 2.8
Restructuring and other charges 1.9 (0.2)
Operating profit 133.7 147.9
Interest expense (48.8) (50.9)
Foreign currency exchange loss related to Venezuelan subsidiaries   (1.0)
Other expense, net (2.3) (3.5)
Earnings from continuing operations before income tax provision 82.6 92.5
Income tax provision [1] 136.4 17.6
Net (loss) earnings from continuing operations (53.8) 74.9
Net earnings from discontinued operations, net of tax 10.6 27.5
Net (loss) earnings available to common stockholders $ (43.2) $ 102.4
Basic    
Continuing operations $ (0.27) $ 0.37
Discontinued operations 0.05 0.14
Net (loss) earnings per common share – basic [1] (0.22) 0.51
Diluted    
Continuing operations (0.27) 0.37
Discontinued operations 0.05 0.14
Net (loss) earnings per common share – diluted [1] (0.22) 0.51
Dividends per common share $ 0.16 $ 0.13
Weighted average number of common shares outstanding:    
Basic 193.4 195.2
Diluted [1] 195.7 197.5
[1] The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 404,347 diluted weighted average number of common shares outstanding for the three months ended March 31, 2016, and recognition of excess tax benefits of $9.6 million in net earnings from continuing operations, and $1.0 million in net earnings from discontinued operations for the three months ended March 31, 2016. As a result, continuing operations net earnings per common share increased by $0.05 per share for the three months ended March 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Condensed Consolidated Financial Statements for further details.