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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Apr. 01, 2017
Apr. 02, 2016
Net sales $ 1,194.0 $ 1,347.3
Cost of sales 729.6 814.2
Gross profit 464.4 533.1
Operating expenses    
Distribution 21.1 21.8
Research and development 39.8 45.3
Selling 155.0 180.8
Administration 105.4 107.5
Impairment charges 12.2 403.9
Restructuring 38.7 5.4
Other operating income (36.3) 0.0
Total operating expenses 335.9 764.7
Operating income (loss) 128.5 (231.6)
Tysabri® royalty stream (17.1) 204.4
Interest expense, net 53.3 51.2
Other (income) expense, net (3.5) 2.5
Loss on extinguishment of debt 0.0 0.4
Income (loss) before income taxes 95.8 (490.1)
Income tax expense 24.2 39.1
Net income (loss) $ 71.6 $ (529.2)
Earnings (loss) per share    
Basic earnings per share (in dollars per share) $ 0.50 $ (3.70)
Diluted earnings per share (in dollars per share) $ 0.50 $ (3.70)
Weighted-average shares outstanding    
Basic 143.4 143.2
Diluted 143.6 143.2
Dividends declared per share (in dollars per share) $ 0.16 $ 0.145