XML 19 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]      
Net Sales $ 3,493.1 $ 3,394.8 $ 3,297.6
Cost of sales 1,902.5 1,883.0 1,844.7
Gross Profit 1,590.6 1,511.8 1,452.9
Marketing expenses 427.2 417.5 416.9
Selling, general and administrative expenses 439.2 420.1 394.8
Income from Operations 724.2 674.2 641.2
Equity in earnings (losses) of affiliates 9.2 (5.8) 11.6
Investment earnings 1.7 1.5 2.3
Other income (expense), net (1.5) (4.0) (2.8)
Interest expense (27.7) (30.5) (27.4)
Income before Income Taxes 705.9 635.4 624.9
Income taxes 246.9 225.0 211.0
Net Income $ 459.0 $ 410.4 $ 413.9
Weighted average shares outstanding - Basic 257.6 262.2 270.2
Weighted average shares outstanding - Diluted 262.1 267.2 275.0
Net income per share - Basic $ 1.78 $ 1.57 [1],[2] $ 1.53
Net income per share - Diluted 1.75 1.54 [1],[2] 1.51
Cash dividends per share $ 0.71 $ 0.67 $ 0.62
[1] The second quarter of 2015 Income from Operations includes an $8.9 pre-tax charge or $0.03 per share to terminate an international defined benefit pension plan.
[2] The second quarter of 2015 Net Income includes a $17.0 or $0.06 per share impairment charge to write-off the remaining investment in Natronx.