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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income Statement [Abstract]      
Net sales $ 4,732.7 $ 4,461.6 $ 4,211.3
Cost of sales [1],[2] 3,230.6 3,049.5 2,810.3
Gross profit 1,502.1 1,412.1 1,401.0
Selling, general and administrative expenses 782.3 815.6 754.3
Amortization expense of intangible assets acquired 15.7 13.1 15.0
Restructuring and other charges 47.8 12.1 2.8
Operating profit 656.3 571.3 628.9
Interest expense, net (177.9) (184.2) (191.9)
Foreign currency exchange loss due to highly inflationary economies (2.5) 0.0 (1.7)
Charge related to Venezuelan subsidiaries [3] 0.0 0.0 (47.3)
Other (expense) income, net [1],[2] (18.1) 6.2 (0.1)
Earnings before income tax provision 457.8 393.3 387.9
Income tax provision 307.5 330.5 95.6
Net earnings from continuing operations 150.3 62.8 292.3
Gain on sale of discontinued operations, net of tax 42.8 640.7 0.0
Net earnings from discontinued operations, net of tax 0.0 111.4 194.1
Net earnings $ 193.1 $ 814.9 $ 486.4
Basic:      
Continuing operations (in dollars per share) $ 0.94 $ 0.34 $ 1.50
Discontinued operations (in dollars per share) 0.27 3.99 0.99
Net earnings per common share - basic (in dollars per share) 1.21 4.33 2.49
Diluted:      
Continuing operations (in dollars per share) 0.94 0.33 1.48
Discontinued operations (in dollars per share) 0.26 3.96 0.98
Net earnings per common share - diluted (in dollars per share) 1.20 4.29 2.46
Dividends per common share (in dollars per share) $ 0.64 $ 0.64 $ 0.61
Weighted Average Number of Shares Outstanding, Diluted [Abstract]      
Basic (in shares) 159.4 186.9 194.3
Diluted (in shares) 160.2 188.9 197.2
[1] As part of our review of costs included in the corporate segment, amounts related to division operations were identified and reclassified out of other expense, net to cost of sales. The impact for the years ended December 31, 2017 and 2016 was $8.1 million and $6.4 million, respectively.
[2] Due to the adoption of ASU 2017-07, certain amounts related to defined benefit and other post-employment benefit plans were reclassified from cost of sales to other expense, net. Refer to Note 2, "Recently Adopted and Issued Accounting Standards," in the Notes to Consolidated Financial Statements for more information.
[3] Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details.