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Equity Investment
6 Months Ended
Jun. 30, 2018
Equity Method Investments And Joint Ventures [Abstract]  
Equity Investment

NOTE 7. EQUITY INVESTMENT

Investment in joint venture reflects our 50% equity interest in WAVE.  The WAVE joint venture is reflected within the Mineral Fiber segment in our consolidated financial statements using the equity method of accounting. Condensed income statement data for WAVE is summarized below.   

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net sales

 

$

106.7

 

 

$

92.5

 

 

$

194.4

 

 

$

177.8

 

Gross profit

 

 

61.6

 

 

 

51.9

 

 

 

109.4

 

 

 

100.0

 

Net earnings

 

 

49.2

 

 

 

41.4

 

 

 

84.8

 

 

 

79.2