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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net sales $ 1,509.1 $ 1,399.8 $ 1,421.4
Cost of goods and services sold 1,008.0 944.0 973.6
Gross profit 501.1 455.8 447.8
Research and development 36.8 34.1 37.3
Selling, general and administrative expenses 239.8 233.0 228.7
Other expense (income) (Note 14) 27.7 60.1 (0.2)
Operating profit 196.8 128.6 182.0
Interest expense 8.1 14.1 16.5
Interest income 1.1 1.6 3.5
Income before income taxes 189.8 116.1 169.0
Income tax expense 54.4 26.3 47.2
Equity in net income of affiliated companies 8.2 5.8 5.3
Net income $ 143.6 $ 95.6 $ 127.1
Net income per share:      
Basic (in dollars per share) $ 1.96 $ 1.33 $ 1.79
Diluted (in dollars per share) $ 1.91 $ 1.30 $ 1.75
Weighted average shares outstanding:      
Basic (in shares) 73.3 72.0 70.9
Diluted (in shares) 75.0 73.8 72.8
Dividends declared per share (in dollars per share) $ 0.5 $ 0.46 $ 0.41