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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net sales $ 4,071.4 $ 4,343.5 $ 4,476.6
Cost of products sold 3,198.0 3,484.4 3,601.2
Gross profit 873.4 859.1 875.4
Operating expenses:      
Selling, general and administrative expenses 420.0 416.6 448.5
Research and development 44.1 44.1 40.5
Restructuring and acquisition-related costs 12.1 0.0 45.4
Other operating (income) expense, net (12.4) (9.3) (9.2)
Operating income 409.6 407.7 350.2
Interest expense 51.7 60.8 68.2
Other non-operating (income) expense, net (6.0) (16.8) (7.7)
Income from continuing operations before income taxes 363.9 363.7 289.7
Provision for income taxes 122.0 124.6 97.2
Income from continuing operations 241.9 239.1 192.5
Income (loss) from discontinued operations, net of tax (2.6) (48.0) 20.1
Net income $ 239.3 $ 191.1 $ 212.6
Basic earnings per share:      
Income from continuing operations, per basic share $ 2.50 $ 2.39 $ 1.86
Income (loss) from discontinued operations, per basic share (0.03) (0.48) 0.20
Net income, per basic share 2.47 1.91 2.06
Diluted earnings per share:      
Income from continuing operations, per diluted share 2.47 2.36 1.85
Income (loss) from discontinued operations, per diluted share (0.03) (0.47) 0.19
Net income, per diluted share 2.44 1.89 2.04
Cash dividends paid per share (in dollars per share) $ 1.12 $ 1.08 $ 1.04