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Statements of Consolidated Income (Unaudited) (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Net sales$ 322.3[1]$ 263.4$ 983.7[1]$ 813.3
Cost of products sold:    
Cost of products sold, excluding depreciation, amortization, and other items297.7229.3878.6717.2
Restructuring benefits(0.3)(0.4)(0.3)(0.9)
Depreciation and amortization6.24.818.913.8
Selling, administrative, research and development, and general13.116.545.349.2
Other operating charges (benefits),net0.10(0.2)2.0
Total costs and expenses316.8250.2942.3781.3
Operating income5.5[2]13.2[2]41.4[2]32.0[2]
Other (expense) income:    
Interest expense(4.3)(3.7)(13.2)(7.2)
Other income (expense), net3.9(3.6)2.2(2.7)
Income before income taxes5.15.930.422.1
Income tax provision(0.7)(0.4)(10.2)(7.7)
Net income$ 4.4[1]$ 5.5$ 20.2[1]$ 14.4
Earnings per share, Basic - Note 1 and 13    
Net income per share$ 0.23[1]$ 0.29$ 1.06[1]$ 0.74
Earnings per share, Diluted - Note 1 and 13    
Net income per share$ 0.23[1]$ 0.29$ 1.06[1]$ 0.74
Weighted-average number of common shares outstanding (000):    
Basic18,99918,94118,97119,499
Diluted18,99918,94118,97119,499
[1]The combined results for the quarter and nine months ended September 30, 2011 are as presented in the Statement of Consolidated Income for such periods, reflecting the January 1, 2011 effective date of the Alexco acquisition (see Note 1).
[2]The Company periodically reassesses the methodologies used to allocate costs among the Company’s business units to assess segment profitability. Commencing the fourth quarter of 2010, the Company modified the allocation of incentive compensation expense relating to its LTI programs and certain STI Plans among its business units. All operating results prior to the fourth quarter of 2010 have been retrospectively adjusted for consistency with the modified cost allocation methodologies. These reclassifications among the Company’s business units had no impact on the Company’s segment or consolidated Net sales, or its consolidated operating income. As a result of the reclassifications, an additional $0.6 and $2.4 of charges relating to the Company’s LTI programs and certain STI Plans are reflected in the operating results of the Fabricated Products segment in the quarter and nine months ended September 30, 2010, respectively.