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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net sales $ 4,004.4 $ 4,071.4 $ 4,343.5
Cost of products sold 3,138.2 3,198.0 3,484.4
Gross profit 866.2 873.4 859.1
Operating expenses:      
Selling, general and administrative expenses 392.2 420.0 416.6
Research and development 46.5 44.1 44.1
Restructuring and acquisition-related costs 28.6 12.1 0.0
Restructuring and acquisition-related costs 21.6    
Other Operating Income (Expense), Net (10.4) (12.4) (9.3)
Operating income 409.3 409.6 407.7
Interest expense 60.2 51.7 60.8
Other non-operating (income) expense, net (1.8) (6.0) (16.8)
Income from continuing operations before income taxes 350.9 363.9 363.7
Provision for income taxes 114.7 122.0 124.6
Income from continuing operations 236.2 241.9 239.1
Income (loss) from discontinued operations, net of tax 0.0 (2.6) (48.0)
Net income $ 236.2 $ 239.3 $ 191.1
Basic earnings per share:      
Income from continuing operations, per basic share $ 2.51 $ 2.50 $ 2.39
Income (loss) from discontinued operations, per basic share 0.00 (0.03) (0.48)
Net income, per basic share 2.51 2.47 1.91
Diluted earnings per share:      
Income from continuing operations, per diluted share 2.48 2.47 2.36
Income (loss) from discontinued operations, per diluted share 0.00 (0.03) (0.47)
Net income, per diluted share 2.48 2.44 1.89
Cash dividends paid per share (in dollars per share) $ 1.16 $ 1.12 $ 1.08