XML 35 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Comprehensive Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Condensed Consolidated Statements of Comprehensive Income    
Net sales $ 650.4 $ 629.6
Costs and expenses:    
Cost of goods sold 488.3 477.2
Selling and administrative expenses 92.2 90.4
Research and development expenses 8.0 7.4
Other Income, net (1.1) (0.8)
Earnings before interest and income taxes 63.0 55.4
Interest expense, net 8.0 8.3
Earnings before income taxes from continuing operations 55.0 47.1
Income tax expense (Note 5) 18.5 2.8
Income from continuing operations 36.5 44.3
Discontinued operations (Note 3)    
Income (loss) before income taxes (1.1) 14.4
Income tax (benefit) expense (0.4) 3.5
Income (loss) from discontinued operations (0.7) 10.9
Net income 35.8 55.2
Basic earnings (loss) per share attributable to common shares    
Income from continuing operations (in dollars per share) $ 0.57 $ 0.70
Income (loss) from discontinued operations (in dollars per share) $ (0.01) $ 0.17
Basic Earnings per share (in dollars per share) $ 0.56 $ 0.87
Diluted earnings (loss) per share attributable to common shares    
Income from continuing operations (in dollars per share) $ 0.56 $ 0.68
Income (loss) from discontinued operations (in dollars per share) $ (0.01) $ 0.17
Diluted earnings per share (in dollars per share) $ 0.55 $ 0.85
Average shares outstanding    
Basic (in shares) 63,878 63,253
Diluted (in shares) 65,089 64,719
Dividends declared and paid 14.2 12.8
Dividends declared and paid per share (in dollars per share) $ 0.22 $ 0.20
Comprehensive Income    
Net income 35.8 55.2
Other comprehensive income (loss)    
Change in foreign currency translation, net of tax 3.0 (10.3)
Change in accrued post-retirement benefit liability, net of tax 0.6 1.4
Loss on hedging activities, net of tax (0.1) (0.1)
Other comprehensive income (loss) 3.5 (9.0)
Comprehensive income $ 39.3 $ 46.2