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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Net Sales [1] $ 1,027.9 $ 898.0 $ 2,033.9 $ 1,775.2
Cost of sales 573.0 487.6 1,127.5 965.5
Gross Profit 454.9 410.4 906.4 809.7
Marketing expenses 136.4 130.9 236.3 221.7
Selling, general and administrative expenses 144.7 156.3 276.0 268.7
Income from Operations 173.8 123.2 394.1 319.3
Equity in earnings of affiliates 2.4 3.1 4.5 5.2
Investment earnings 0.1 0.3 0.6 0.7
Other income (expense), net (0.7) (0.5) (2.8) (0.7)
Interest expense (20.2) (9.3) (40.3) (17.5)
Income before Income Taxes [2] 155.4 116.8 [3] 356.1 307.0 [3]
Income taxes 33.7 43.9 76.6 102.6
Net Income $ 121.7 $ 72.9 $ 279.5 $ 204.4
Weighted average shares outstanding - Basic 244.8 249.8 244.9 252.0
Weighted average shares outstanding - Diluted 249.3 255.6 249.7 257.7
Net income per share - Basic $ 0.50 $ 0.29 $ 1.14 $ 0.81
Net income per share - Diluted 0.49 0.29 1.12 0.79
Cash dividends per share $ 0.22 $ 0.19 $ 0.43 $ 0.38
[1] Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $1.7 and $1.3 for the three months ended June 30, 2018 and June 30, 2017, respectively, and were $2.6 and $2.7 for the six months ended June 30, 2018 and June 30, 2017, respectively.
[2] In determining Income before Income Taxes, interest expense, investment earnings and certain aspects of other income and expense were allocated among segments based upon each segment’s relative Income from Operations.
[3] Includes a pension settlement charge of $39.2 recorded in Consumer International.