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Condensed Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Net Sales $ 804.8 [1] $ 725.2 [1] $ 2,371.7 [1] $ 2,112.2 [1]
Cost of sales 439.6 397.7 1,305.4 1,179.2
Gross Profit 365.2 327.5 1,066.3 933.0
Marketing expenses 99.7 92.2 282.3 248.6
Selling, general and administrative expenses 97.7 89.9 306.4 273.9
Income from Operations 167.8 145.4 477.6 410.5
Equity in earnings (losses) of affiliates 1.9 2.4 1.4 7.3
Investment earnings 0.6 0.4 2.0 1.1
Other income (expense), net (0.1) 0.4 (1.4) 1.1
Interest expense (7.0) (2.6) (21.0) (7.7)
Income before Income Taxes 163.2 [2] 146.0 [2] 458.6 [2] 412.3 [2]
Income taxes 55.3 52.1 156.4 143.3
Net Income $ 107.9 $ 93.9 $ 302.2 $ 269.0
Weighted average shares outstanding - Basic 138.8 139.5 138.5 140.4
Weighted average shares outstanding - Diluted 141.3 142.2 141.1 143.1
Net income per share - Basic $ 0.78 $ 0.67 $ 2.18 $ 1.92
Net income per share - Diluted $ 0.76 $ 0.66 $ 2.14 $ 1.88
Cash dividends per share $ 0.28 $ 0.24 $ 0.84 $ 0.72
[1] Intersegment sales from Consumer International to Consumer Domestic were $0.7 million and $0.1 million for the quarters ended September 30, 2013 and September 30, 2012, respectively, and were $1.9 million and $1.9 million for the nine months ended September 30, 2013 and September 30, 2012, respectively.
[2] In determining Income before Income Taxes, interest expense, investment earnings and other income (expense) were allocated among the segments based upon each segment's relative operating profit.