XML 16 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net sales $ 1,839.9 $ 1,717.4 $ 1,599.1
Cost of Goods and Services Sold 1,234.2 1,172.0 1,086.2
Gross profit 605.7 545.4 512.9
Research and development 38.9 40.3 39.1
Selling, general and administrative expenses 272.7 262.9 246.0
Other (income) expense (2.5) 1.9 2.0
Operating profit 296.6 240.3 225.8
Interest expense 8.5 8.4 7.8
Interest income (3.8) (2.1) (1.3)
Other nonoperating expense (income) 0.1 (6.7) (3.1)
Income before income taxes 291.8 240.7 222.4
Income tax expense 59.0 41.4 80.9
Equity in net income of affiliated companies (8.9) (7.6) (9.2)
Net income $ 241.7 $ 206.9 $ 150.7
Net income per share:      
Basic (in dollars per share) $ 3.27 $ 2.80 $ 2.04
Diluted (in dollars per share) $ 3.21 $ 2.74 $ 1.99
Weighted average shares outstanding:      
Basic (in shares) 74.0 73.9 73.9
Diluted (in shares) 75.4 75.4 75.8