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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jul. 01, 2017
Jul. 02, 2016
Net sales $ 1,237.9 $ 1,340.5 $ 2,431.9 $ 2,687.8
Cost of sales 733.3 794.0 1,463.0 1,608.2
Gross profit 504.6 546.5 968.9 1,079.6
Operating expenses        
Distribution 21.6 22.5 42.7 44.3
Research and development 42.6 47.0 82.3 92.2
Selling 155.6 171.6 310.6 352.4
Administration 98.2 104.3 203.6 211.8
Impairment charges 27.4 10.5 39.6 414.4
Restructuring charges 12.1 5.8 50.8 11.3
Other operating income (1.7) 0.0 (38.0) 0.0
Total operating expenses 355.8 361.7 691.6 1,126.4
Operating income (loss) 148.8 184.8 277.3 (46.8)
Change in financial asset 38.7 910.8 21.6 1,115.3
Interest expense, net 45.1 57.4 98.4 108.6
Other expense, net 6.1 28.8 2.5 31.3
Loss on extinguishment of debt 135.2 0.0 135.2 0.4
Income (loss) before income taxes (76.3) (812.2) 19.6 (1,302.4)
Income tax expense (benefit) (6.7) (277.9) 17.6 (238.9)
Net income (loss) $ (69.6) $ (534.3) $ 2.0 $ (1,063.5)
Earnings (loss) per share        
Basic earnings per share (in dollars per share) $ (0.49) $ (3.73) $ 0.01 $ (7.43)
Diluted earnings per share (in dollars per share) $ (0.49) $ (3.73) $ 0.01 $ (7.43)
Weighted-average shares outstanding        
Basic 143.3 143.2 143.3 143.2
Diluted 143.3 143.2 143.6 143.2
Dividends declared per share (in dollars per share) $ 0.160 $ 0.145 $ 0.32 $ 0.29