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Condensed Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Net Sales $ 808.3 [1] $ 787.6 [1] $ 1,590.3 [1] $ 1,566.9 [1]
Cost of sales 451.9 436.6 894.5 865.8
Gross Profit 356.4 351.0 695.8 701.1
Marketing expenses 113.4 103.7 201.2 182.6
Selling, general and administrative expenses 104.8 106.8 194.4 208.7
Income from Operations 138.2 140.5 300.2 309.8
Equity in earnings (losses) of affiliates 2.9 (1.1) 4.5 (0.5)
Investment earnings 0.6 0.7 1.1 1.4
Other income (expense), net 0.2 (0.9) (0.5) (1.3)
Interest expense (6.9) (7.0) (13.6) (14.0)
Income before Income Taxes 135.0 [2] 132.2 [2] 291.7 [2] 295.4 [2]
Income taxes 46.2 45.6 100.3 101.1
Net Income $ 88.8 $ 86.6 $ 191.4 $ 194.3
Weighted average shares outstanding - Basic 134.8 138.5 136.4 138.4
Weighted average shares outstanding - Diluted 137.3 141.1 138.9 141.0
Net income per share - Basic $ 0.66 $ 0.62 $ 1.40 $ 1.40
Net income per share - Diluted $ 0.65 $ 0.61 $ 1.38 $ 1.38
Cash dividends per share $ 0.31 $ 0.28 $ 0.62 $ 0.56
[1] Intersegment sales from Consumer International to Consumer Domestic were $0.3 and $0.3 for the quarters ended June 30, 2014 and June 30, 2013, respectively, and were $0.5 and $1.2 for the six months ended June 30, 2014 and June 30, 2013, respectively.
[2] In determining Income before Income Taxes, interest expense, investment earnings and other income (expense) were allocated among segments based upon each segment's relative operating profit.