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CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Net sales $ 1,018.3 $ 1,098.2 $ 3,088.7 $ 3,290.8
Cost of products sold 796.5 877.5 2,428.2 2,640.2
Gross profit 221.8 220.7 660.5 650.6
Operating expenses:        
Selling, general and administrative expenses 101.8 104.6 312.1 315.6
Research and development 11.0 11.2 33.8 33.4
Restructuring and acquisition-related costs 4.6 0.0 9.9 0.0
Other operating (income) expense, net (1.4) (2.4) (7.7) (7.6)
Operating income 105.8 107.3 312.4 309.2
Interest expense 12.6 14.0 38.5 47.9
Other non-operating (income) expense, net (0.8) (1.2) (4.8) (15.6)
Income from continuing operations before income taxes 94.0 94.5 278.7 276.9
Provision for income taxes 31.5 33.0 93.6 95.0
Income from continuing operations 62.5 61.5 185.1 181.9
Income (loss) from discontinued operations, net of tax 0.0 (44.5) (2.6) (49.9)
Net income $ 62.5 $ 17.0 $ 182.5 $ 132.0
Income from continuing operations, per basic share $ 0.65 $ 0.62 $ 1.91 $ 1.81
Income (loss) from discontinued operations, per basic share 0.00 (0.45) (0.03) (0.50)
Net income, per basic share 0.65 0.17 1.88 1.31
Income from continuing operations, per diluted share 0.64 0.61 1.89 1.79
Income (loss) from discontinued operations, per diluted share 0.00 (0.44) (0.03) (0.49)
Net income, per diluted share 0.64 0.17 1.86 1.30
Cash dividends paid per share (in dollars per share) $ 0.28 $ 0.27 $ 0.84 $ 0.81