Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
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Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
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Income Statement [Abstract] | ||||||||||||
Net sales | $ 1,070.3 | $ 1,038.9 | $ 2,102.5 | $ 2,044.8 | ||||||||
Cost of sales | [1] | 726.0 | 689.3 | 1,421.8 | 1,359.6 | |||||||
Gross profit | 344.3 | 349.6 | 680.7 | 685.2 | ||||||||
Selling, general and administrative expenses | [1] | 201.8 | 197.3 | 397.6 | 382.4 | |||||||
Amortization expense of intangible assets acquired | 1.1 | 3.5 | 6.1 | 6.3 | ||||||||
Restructuring and other charges | [1] | 2.0 | 1.2 | 3.9 | 1.0 | |||||||
Operating profit | 139.4 | 147.6 | 273.1 | 295.5 | ||||||||
Interest expense | (50.9) | (50.9) | (99.7) | (101.8) | ||||||||
Foreign currency exchange loss related to Venezuelan subsidiaries | 0.0 | (0.6) | 0.0 | (1.6) | ||||||||
Charge related to Venezuelan subsidiaries | [1] | 0.0 | (46.0) | 0.0 | (46.0) | [2] | ||||||
Other (expense) income, net | (3.9) | 4.5 | (6.2) | 1.0 | ||||||||
Earnings before income tax provision | 84.6 | 54.6 | 167.2 | 147.1 | ||||||||
Income tax provision | 56.1 | 53.0 | 192.5 | 70.6 | ||||||||
Net earnings (loss) from continuing operations | 28.5 | 1.6 | (25.3) | 76.5 | ||||||||
Net earnings from discontinued operations, net of tax | 59.3 | 48.0 | 69.9 | 75.5 | ||||||||
Net (loss) earnings available to common stockholders | $ 87.8 | $ 49.6 | $ 44.6 | $ 152.0 | [2] | |||||||
Basic: | ||||||||||||
Continuing operations (in dollars per share) | $ 0.14 | $ 0.01 | $ (0.13) | $ 0.38 | ||||||||
Discontinued operations (in dollars per share) | 0.31 | 0.24 | 0.36 | 0.38 | ||||||||
Net earnings (loss) per common share - basic (in dollars per share) | [3] | 0.45 | 0.25 | 0.23 | 0.76 | |||||||
Diluted: | ||||||||||||
Continuing operations (in dollars per share) | 0.14 | 0.01 | (0.13) | 0.38 | ||||||||
Discontinued operations (in dollars per share) | 0.31 | 0.24 | 0.36 | 0.38 | ||||||||
Net earnings (loss) per common share - diluted | [3] | 0.45 | 0.25 | 0.23 | 0.76 | |||||||
Dividends per common share (in dollars per share) | $ 0.16 | $ 0.16 | $ 0.32 | $ 0.29 | ||||||||
Weighted average number of common shares outstanding: | ||||||||||||
Basic (in shares) | 192.5 | 195.6 | 192.9 | 195.4 | ||||||||
Diluted (in shares) | [3] | 194.8 | 198.4 | 195.3 | 198.0 | |||||||
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- Definition Foreign currency cumulative translation gain (loss) recognized in earnings upon ceasing foreign operations. No definition available.
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- Definition Foreign currency exchange gain (loss) related to our Venezuelan subsidiary. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation. No definition available.
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- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation. No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Dividends declared in the period and the contractual amount of dividends (or interest on participating income bonds) that must be paid per security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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