XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net sales $ 1,535.2 $ 1,213.1 $ 4,409.7 $ 3,921.5
Cost of goods sold 1,357.8 1,047.5 3,872.0 3,338.8
Gross profit 177.4 165.6 537.7 582.7
Selling, general and administrative expenses 85.7 90.5 256.6 266.7
Amortization of intangible assets 21.5 21.4 64.4 64.3
Restructuring and acquisition-related costs 7.9 7.4 26.4 40.8
Loss on sale of business 0.0 0.0 0.0 2.7
Operating income 62.3 46.3 190.3 208.2
Interest expense (44.8) (49.7) (132.2) (150.7)
Interest income 5.4 2.7 11.6 8.2
Debt refinancing and redemption costs (0.2) (31.6) (6.0) (34.0)
Gain on bargain purchase of business 1.4 0.0 13.0 0.0
Unrealized gain (loss) on equity securities (2.3) 19.4 (24.0) 19.4
Other expense, net (1.0) (3.1) (4.4) (1.3)
Income (loss) before income taxes 20.8 (16.0) 48.3 49.8
Income tax benefit (5.7) (13.6) (2.1) (2.4)
Net income (loss) $ 26.5 $ (2.4) $ 50.4 $ 52.2
Basic earnings (loss) per share $ 0.22 $ (0.02) $ 0.42 $ 0.44
Diluted earnings (loss) per share $ 0.22 $ (0.02) $ 0.42 $ 0.44