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Statements of Consolidated Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net sales $ 1,297.5 $ 1,360.1 $ 1,301.3
Cost of products sold:      
Cost of products sold, excluding depreciation and amortization and other items 1,038.9 1,116.2 1,129.0
Unrealized (gains) losses on derivative instruments (0.7) (15.2) 29.9
Restructuring benefits 0 0 (0.3)
Depreciation and amortization 28.1 26.5 25.2
Selling, administrative, research and development, and general (includes accumulated other comprehensive income reclassifications related to VEBA and Canadian pension plan adjustments of $5.7, $7.3 and $4.8 for the years ended 2013, 2012 and 2011, respectively) - See Note 7 57.9 62.2 62.7
Other operating charges (benefits), net 0 4.5 (0.2)
Total costs and expenses 1,124.2 1,194.2 1,246.3
Operating income 173.3 165.9 55.0
Other (expense) income:      
Interest expense (35.7) (29.1) (18.0)
Other income, net (includes accumulated other comprehensive income reclassifications for realized gains on available for sale securities of $1.0 for the year ended 2013) 5.6 2.8 4.3
Income before income taxes 143.2 139.6 41.3
Income tax provision (includes aggregate income tax expense from reclassification items of $(1.8), $(2.8) and $(1.8) for the years ended 2013, 2012 and 2011, respectively) (38.4) (53.8) (16.2)
Net income $ 104.8 $ 85.8 $ 25.1
Earnings per common share, Basic:      
Net income per share $ 5.56 $ 4.49 $ 1.32
Earnings per common share, Diluted:      
Net income per share $ 5.44 [1],[2] $ 4.45 [1],[2] $ 1.32 [1],[2]
Weighted-average number of common shares outstanding (in thousands):      
Basic 18,827 [3] 19,115 [3] 18,979 [3]
Diluted 19,246 [1],[2] 19,278 [1],[2] 18,979 [1],[2]
[1] The diluted weighted-average number of common shares outstanding and diluted earnings per share for 2013 and 2012 were calculated using the treasury method. The diluted weighted-average number of common shares outstanding and diluted earnings per share for 2011 were calculated using the two-class method (see Note 1).
[2] Diluted weighted-average number of common shares outstanding and diluted earnings per share for 2013 and 2012 are based on the treasury method. Diluted weighted-average number of common shares outstanding and diluted earnings per share for 2011 is based on the two-class method (see Note 1 and Note 13).
[3] The basic weighted-average number of common shares outstanding during the period excludes unvested share-based incentive awards.