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CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Net sales $ 1,027.2 $ 1,018.3 $ 3,016.4 $ 3,088.7
Cost of products sold 802.4 796.5 2,365.8 2,428.2
Gross profit 224.8 221.8 650.6 660.5
Operating expenses:        
Selling, general and administrative expenses 95.8 101.8 295.6 312.1
Research and development 11.6 11.0 34.7 33.8
Restructuring and acquisition-related costs 4.4 4.6 24.8 9.9
Other Operating Income (Expense), Net (3.2) (1.4) (9.1) (7.7)
Operating income 116.2 105.8 304.6 312.4
Interest expense 15.1 12.6 44.5 38.5
Other non-operating (income) expense, net (0.6) (0.8) (1.1) (4.8)
Income from continuing operations before income taxes 101.7 94.0 261.2 278.7
Provision for income taxes 33.1 31.5 85.5 93.6
Income from continuing operations 68.6 62.5 175.7 185.1
Income (loss) from discontinued operations, net of tax 0.0 0.0 0.0 (2.6)
Net income $ 68.6 $ 62.5 $ 175.7 $ 182.5
Income from continuing operations, per basic share $ 0.73 $ 0.65 $ 1.86 $ 1.91
Income (loss) from discontinued operations, per basic share 0.00 0.00 0.00 (0.03)
Net income, per basic share 0.73 0.65 1.86 1.88
Income from continuing operations, per diluted share 0.72 0.64 1.84 1.89
Income (loss) from discontinued operations, per diluted share 0.00 0.00 0.00 (0.03)
Net income, per diluted share 0.72 0.64 1.84 1.86
Cash dividends paid per share (in dollars per share) $ 0.29 $ 0.28 $ 0.87 $ 0.84