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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 01, 2016
Sep. 26, 2015
Oct. 01, 2016
Sep. 26, 2015
Net sales $ 1,354.9 $ 1,344.7 $ 4,219.1 [1] $ 3,925.4 [1]
Cost of sales 848.6 795.9 2,622.7 2,369.7
Gross profit 506.3 548.8 1,596.4 1,555.7
Operating expenses        
Distribution 21.6 24.9 65.9 63.3
Research and development 50.2 41.6 142.5 139.7
Selling 154.6 167.9 506.9 391.6
Administration 108.6 123.6 316.8 343.3
Impairment charges 1,679.9 0.0 2,127.1 0.0
Restructuring 6.6 2.2 17.9 3.1
Total operating expenses 2,021.5 360.2 3,177.1 941.0
Operating income (loss) (1,515.2) 188.6 (1,580.7) [1] 614.7 [1]
Interest expense, net 54.6 43.4 163.2 132.7
Other expense, net 1.0 13.0 34.1 294.2
Loss on extinguishment of debt (0.7) 0.0 (1.1) (0.9)
Income (loss) before income taxes (1,571.5) 132.2 (1,779.1) 186.9
Income tax expense (benefit) (316.3) 19.6 (383.7) 112.7
Net income (loss) $ (1,255.2) $ 112.6 $ (1,395.4) $ 74.2
Income (loss) per share        
Basic $ (8.76) $ 0.77 $ (9.74) $ 0.51
Diluted $ (8.76) $ 0.77 $ (9.74) $ 0.51
Weighted-average shares outstanding        
Basic 143.3 146.3 143.2 144.4
Diluted 143.3 146.9 143.2 145.0
Dividends declared per share $ 0.145 $ 0.125 $ 0.435 $ 0.375
[1] The BCH segment was created on March 30, 2015 as a result of the Omega acquisition, thus data for the nine months ended September 26, 2015 includes only six months of results from operations attributable to Omega.