XML 52 R35.htm IDEA: XBRL DOCUMENT v3.10.0.1
Significant Accounting Policies Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Net Gains (Losses) on Sale and Disposal of Property [Table Text Block]
The amount of gains and losses for the years ended December 31 were as follows:
(in millions)
2018
 
2017
 
2016
Gains on the sale of property
$
0.4

 
$
0.9

 
$
0.4

Losses on the sale and disposal of property
(1.0
)
 
(2.3
)
 
(0.5
)
Net losses on sale and disposal of property
$
(0.6
)
 
$
(1.4
)
 
$
(0.1
)
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The cumulative effect of the changes made to the Company's Consolidated Balance Sheets as of January 1, 2018 for the adoption of the new revenue standard was as follows:
(in millions)
Balance as of December 31, 2017
 
Adjustments Due to ASC 606
 
Balance as of January 1, 2018
Assets
 
 
 
 
 
Accounts and notes receivable
$
485.3

 
$
1.2

 
$
486.5

Deferred income tax asset
165.6

 
9.3

 
174.9

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Accrued expenses
609.0

 
39.1

 
648.1

 
 
 
 
 
 
Shareholders' equity
 
 
 
 
 
Retained earnings
$
1,966.8

 
$
(28.6
)
 
$
1,938.2

The impact to the Company's Consolidated Statements of Operations and Consolidated Balance Sheets as of and for the year ended December 31, 2018 as a result of applying the new revenue standard was as follows:
 
Year Ended December 31, 2018
(in millions)
As Reported
 
Effect of Change
 
Balances without adoption of ASC 606
Net sales
$
5,159.2

 
$
(15.6
)
 
$
5,143.6

Cost of sales
3,838.2

 
(5.5
)
 
3,832.7

 
 
 
 
 
 
   Earnings before income taxes
322.2

 
(10.1
)
 
312.1

Income tax provision
59.1

 
(2.0
)
 
57.1

Net earnings from continuing operations
$
263.1

 
$
(8.1
)
 
$
255.0

 
As of December 31, 2018
 
As Reported
 
Effect of Change
 
Balances without adoption of ASC 606
Assets
 
 
 
 
 
Accounts and notes receivable
$
550.7

 
$
(1.2
)
 
$
549.5

Deferred income tax asset
96.1

 
(6.8
)
 
89.3

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Accrued expenses
687.4

 
(29.3
)
 
658.1

 
 
 
 
 
 
Shareholders' equity
 
 
 
 
 
Retained earnings
$
2,135.7

 
$
21.3

 
$
2,157.0