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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Net Sales [1] $ 877.4 $ 847.1 $ 1,726.4 $ 1,659.4
Cost of sales 469.4 474.0 939.4 930.8
Gross Profit 408.0 373.1 787.0 728.6
Marketing expenses 120.2 115.8 212.7 204.6
Selling, general and administrative expenses 112.5 115.0 219.5 209.6
Income from Operations 175.3 142.3 354.8 314.4
Equity in earnings of affiliates 2.5 (13.8) 4.2 (11.5)
Investment earnings 0.4 0.5 0.7 1.0
Other income (expense), net (0.1) (1.6) (1.8) (3.6)
Interest expense (7.1) (7.9) (13.9) (15.5)
Income before Income Taxes [2] 171.0 119.5 344.0 284.8
Income taxes 59.4 45.8 119.4 103.9
Net Income $ 111.6 $ 73.7 $ 224.6 $ 180.9
Weighted average shares outstanding - Basic 128.5 130.9 129.0 131.4
Weighted average shares outstanding - Diluted 130.9 133.4 131.4 134.0
Net income per share - Basic $ 0.87 $ 0.56 $ 1.74 $ 1.38
Net income per share - Diluted 0.85 0.55 1.71 1.35
Cash dividends per share $ 0.355 $ 0.335 $ 0.71 $ 0.67
[1] Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $1.0 and $1.7 for the three months ended June 30, 2016 and June 30, 2015, respectively, and were $2.0 and $3.0 for the six months ended June 30, 2016 and June 30, 2015, respectively.
[2] In determining Income before Income Taxes, interest expense and investment earnings were allocated among segments based upon each segment’s relative Income from Operations.