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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net Sales [1] $ 1,079.4 $ 1,027.9 $ 2,124.1 $ 2,033.9
Cost of sales 597.9 573.0 1,171.8 1,127.5
Gross Profit 481.5 454.9 952.3 906.4
Marketing expenses 129.1 136.4 227.2 236.3
Selling, general and administrative expenses 165.0 144.7 296.9 276.0
Income from Operations 187.4 173.8 428.2 394.1
Equity in earnings of affiliates 1.7 2.4 3.4 4.5
Investment earnings 0.2 0.1 0.7 0.6
Other income (expense), net (0.1) (0.7) (0.2) (2.8)
Interest expense (18.9) (20.2) (36.7) (40.3)
Income before Income Taxes [2] 170.3 155.4 395.4 356.1
Income taxes 31.8 33.7 81.2 76.6
Net Income $ 138.5 $ 121.7 $ 314.2 $ 279.5
Weighted average shares outstanding - Basic 246.4 244.8 246.2 244.9
Weighted average shares outstanding - Diluted 252.7 249.3 252.3 249.7
Net income per share - Basic $ 0.56 $ 0.50 $ 1.28 $ 1.14
Net income per share - Diluted 0.55 0.49 1.25 1.12
Cash dividends per share $ 0.23 $ 0.22 $ 0.45 $ 0.43
[1] Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $2.4 and $1.7 for the three months ended June 30, 2019 and June 30, 2018, respectively, and were $4.7 and $2.6 for the six months ended June 30, 2019 and June 30, 2018, 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.