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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net sales $ 4,046.2 $ 4,004.4 $ 4,071.4
Cost of products sold 3,261.0 3,138.2 3,198.0
Gross profit 785.2 866.2 873.4
Operating expenses:      
Selling, general and administrative expenses 380.4 392.2 420.0
Research and development 42.9 46.5 44.1
Restructuring and other costs 70.5 28.6 12.1
Goodwill and Intangible Asset Impairment 196.6 0.0 0.0
Other Operating Income (Expense), Net (20.9) (10.4) (12.4)
Operating income 115.7 409.3 409.6
Interest expense 65.8 60.2 51.7
Other non-operating (income) expense, net (2.8) (1.8) (6.0)
Income from continuing operations before income taxes 52.7 350.9 363.9
Provision for income taxes (41.3) 114.7 122.0
Income from continuing operations 94.0 236.2 241.9
Income (loss) from discontinued operations, net of tax 0.0 0.0 (2.6)
Net income $ 94.0 $ 236.2 $ 239.3
Basic earnings per share:      
Income from continuing operations, per basic share $ 1.03 $ 2.51 $ 2.50
Income (loss) from discontinued operations, per basic share 0.00 0.00 (0.03)
Net income, per basic share 1.03 2.51 2.47
Diluted earnings per share:      
Income from continuing operations, per diluted share 1.02 2.48 2.47
Income (loss) from discontinued operations, per diluted share 0.00 0.00 (0.03)
Net income, per diluted share 1.02 2.48 2.44
Cash dividends paid per share (in dollars per share) $ 1.20 $ 1.16 $ 1.12