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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net Sales [1] $ 870.7 $ 861.8 $ 2,597.1 $ 2,521.2
Cost of sales 475.1 476.0 1,414.5 1,406.8
Gross Profit 395.6 385.8 1,182.6 1,114.4
Marketing expenses 98.2 92.8 310.9 297.4
Selling, general and administrative expenses 101.4 102.4 320.9 312.0
Income from Operations 196.0 190.6 550.8 505.0
Equity in earnings of affiliates 2.5 3.1 6.7 (8.4)
Investment earnings 0.4 0.2 1.1 1.2
Other income (expense), net 0.3 (0.8) (1.5) (4.4)
Interest expense (6.8) (7.4) (20.7) (22.9)
Income before Income Taxes [2] 192.4 185.7 536.4 470.5
Income taxes 68.4 65.3 187.8 169.2
Net Income $ 124.0 $ 120.4 $ 348.6 $ 301.3
Weighted average shares outstanding - Basic 258.0 262.2 258.0 262.6
Weighted average shares outstanding - Diluted 262.7 267.2 262.7 267.6
Net income per share - Basic $ 0.48 $ 0.46 $ 1.35 $ 1.15
Net income per share - Diluted 0.47 0.45 1.33 1.13
Cash dividends per share $ 0.177 $ 0.167 $ 0.53 $ 0.51
[1] Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $1.0 and $0.9 for the three months ended September 30, 2016 and September 30, 2015, respectively, and were $3.0 and $3.9 for the nine months ended September 30, 2016 and September 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.