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Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Net sales $ 277.1 $ 260.5 $ 791.2 $ 736.4
Cost of goods sold 165.4 162.6 484.7 485.0
Gross profit 111.7 97.9 306.5 251.4
Selling, general and administrative expenses 41.3 35.3 134.3 113.7
Equity earnings from joint venture (42.9) (18.7) (83.0) (59.2)
Operating income 113.3 81.3 255.2 196.9
Interest expense 11.7 9.9 31.6 28.9
Other non-operating (income), net (5.1) (9.2) (16.0) (27.3)
Earnings from continuing operations before income taxes 106.7 80.6 239.6 195.3
Income tax expense 16.0 16.4 48.8 42.3
Earnings from continuing operations 90.7 64.2 190.8 153.0
Net earnings from discontinued operations, net of tax expense (benefit) of $2.5, ($0.5), $7.2 and $1.2 4.8 5.0 3.0 14.4
(Loss) gain from disposal of discontinued businesses, net of tax (benefit) of ($5.0), ($4.6), ($4.9) and ($4.9) (22.3) 7.0 (27.0) (16.1)
Net (loss) gain from discontinued operations (17.5) 12.0 (24.0) (1.7)
Net earnings 73.2 76.2 166.8 151.3
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustments 78.6 (7.0) 84.6 (21.9)
Derivative (loss) gain, net (2.7) (0.5) (15.9) 5.3
Pension and postretirement adjustments 5.5 2.7 11.2 7.6
Total other comprehensive income (loss) 81.4 (4.8) 79.9 (9.0)
Total comprehensive income $ 154.6 $ 71.4 $ 246.7 $ 142.3
Earnings per share of common stock, continuing operations:        
Basic $ 1.86 $ 1.26 $ 3.90 $ 2.94
Diluted 1.83 1.23 3.84 2.89
(Loss) earnings per share of common stock, discontinued operations:        
Basic (0.36) 0.24 (0.49) (0.03)
Diluted (0.35) 0.23 (0.48) (0.03)
Net earnings per share of common stock:        
Basic 1.50 1.50 3.41 2.91
Diluted $ 1.48 $ 1.46 $ 3.36 $ 2.86
Average number of common shares outstanding:        
Basic 48.7 50.7 48.8 51.9
Diluted 49.5 51.9 49.6 52.8