XML 16 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 713.3 $ 799.5 $ 1,423.3 $ 1,488.4
Cost of goods sold 468.2 512.8 926.6 966.1
Gross profit 245.1 286.7 496.7 522.3
Selling, general and administrative expenses 116.7 132.2 248.6 279.5
Research and development expenses 17.3 20.7 36.3 41.4
Operating income 111.1 133.8 211.8 201.4
Other (income) expense:        
Loss (gain) on sale of businesses 0.1 0.1 0.1 (3.4)
Net interest expense 7.7 9.4 14.6 16.7
Other (income) expense (0.3) (12.9) 0.9 (12.3)
Income from continuing operations before income taxes 103.6 137.2 196.2 200.4
Provision for income taxes 29.8 22.1 49.7 32.9
Net income from continuing operations 73.8 115.1 146.5 167.5
Loss from discontinued operations, net of tax (1.7) (0.8) (1.7) (1.9)
Net income 72.1 114.3 144.8 165.6
Comprehensive income, net of tax        
Net income 72.1 114.3 144.8 165.6
Changes in cumulative translation adjustment 28.2 (0.9) (9.6) (2.5)
Changes in market value of derivative financial instruments, net of tax (17.8) (3.4) 21.3 0.9
Comprehensive income $ 82.5 $ 110.0 $ 156.5 $ 164.0
Basic        
Continuing operations (in dollars per share) $ 0.44 $ 0.68 $ 0.88 $ 0.98
Discontinued operations (in dollars per share) (0.01) (0.01) (0.01) (0.01)
Basic earnings (loss) per ordinary share (in dollars per share) 0.43 0.67 0.87 0.97
Diluted        
Continuing operations (in dollars per share) 0.44 0.68 0.87 0.98
Discontinued operations (in dollars per share) (0.01) (0.01) (0.01) (0.01)
Diluted earnings (loss) per ordinary share (in dollars per share) $ 0.43 $ 0.67 $ 0.86 $ 0.97
Weighted average ordinary shares outstanding        
Basic (shares) 165.8 169.8 166.8 170.6
Diluted (shares) 166.4 170.5 167.5 171.4