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Quarterly Results (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Data [Abstract]  
Quarterly Results (Unaudited) Quarterly Results (Unaudited)
(in millions, except per share data)
For year ended December 31,
 
First
 
Second
 
Third
 
Fourth
 
Year
2019
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
831.7

 
$
841.6

 
$
772.3

 
$
837.5

 
$
3,283.1

Cost of sales
 
526.6

 
535.0

 
494.4

 
548.1

 
2,104.1

Gross profit
 
305.1

 
306.6

 
277.9

 
289.4

 
1,179.0

Operating profit (loss) (a)
 
113.7

 
122.8

 
109.3

 
(135.4
)
 
210.4

Net income (loss) attributable to common shareholders (b)
 
82.4

 
91.0

 
72.5

 
(112.6
)
 
133.3

Basic earnings (loss) per share
 
$
1.38

 
$
1.52

 
$
1.21

 
$
(1.89
)
 
$
2.23

Diluted earnings (loss) per share
 
$
1.36

 
$
1.50

 
$
1.19

 
$
(1.89
)
 
$
2.20

 
 
 
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
799.1

 
$
851.0

 
$
855.8

 
$
839.6

 
$
3,345.5

Cost of sales
 
521.2

 
545.6

 
544.8

 
544.6

 
2,156.2

Gross profit
 
277.9

 
305.4

 
311.0

 
295.0

 
1,189.3

Operating profit (c)
 
94.3

 
113.0

 
123.9

 
110.1

 
441.3

Net income attributable to common shareholders (d)
 
68.7

 
80.7

 
97.0

 
89.2

 
335.6

Basic earnings per share
 
$
1.15

 
$
1.35

 
$
1.62

 
$
1.51

 
$
5.63

Diluted earnings per share
 
$
1.13

 
$
1.32

 
$
1.59

 
$
1.46

 
$
5.50



(a)
Operating profit in 2019 includes i) an asbestos provision, net of $229.0 million in the fourth quarter ii) an environmental provision, net of $18.9 million in the fourth quarter; iii) acquisition-related and integration charges of $1.1 million, $2.4 million, $0.2 million and $1.5 million in the first, second, third and fourth quarters, respectively; and iv) restructuring charges of $2.9 million, $1.6 million, $1.6 million and $11.4 million in the first, second, third and fourth quarters, respectively.
(b)
Includes the impact of item (a) cited above.
(c)
Operating profit in 2018 includes i) acquisition-related and integration charges of $5.2 million, $4.1 million, $2.1 million and $8.4 million in the first, second, third and fourth quarters, respectively; ii) acquisition-related inventory and backlog amortization of $6.6 million, $1.9 million, $0.3 million and $0.3 million in the first, second, third and fourth quarters, respectively; and iii) restructuring charges (gains) of $0.8 million, $(0.6) million, $5.2 million and $1.8 million in the first, second, third and fourth quarters, respectively.
(d)
Includes the impact of item (c) cited above.