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Quarterly Results of Operations (unaudited) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (unaudited) | Quarterly Results of Operations (unaudited) (In millions, except share data and stock prices)
| 2015
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
Net sales |  |  |  |  |  |  |  |  |
Net sales of tangible products | $ | 755 |  |  | $ | 762 |  |  | $ | 787 |  |  | $ | 829 |  |  | $ | 3,133 |
Revenue from services and software | 138 |  |  | 128 |  |  | 129 |  |  | 124 |  |  | 519 |
Total Net sales | 893 |  |  | 890 |  |  | 916 |  |  | 953 |  |  | 3,652 |
Cost of sales |  |  |  |  |  |  |  |  |
Cost of sales of tangible products | 386 |  |  | 407 |  |  | 403 |  |  | 435 |  |  | 1,631 |
Cost of services and software | 98 |  |  | 90 |  |  | 99 |  |  | 90 |  |  | 377 |
Total Cost of sales | 484 |  |  | 497 |  |  | 502 |  |  | 525 |  |  | 2,008 |
Gross profit | 409 |  |  | 393 |  |  | 414 |  |  | 428 |  |  | 1,644 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling and marketing | 122 |  |  | 125 |  |  | 120 |  |  | 119 |  |  | 486 |
Research and development | 96 |  |  | 99 |  |  | 100 |  |  | 99 |  |  | 394 |
General and administrative | 66 |  |  | 70 |  |  | 67 |  |  | 74 |  |  | 277 |
Amortization of intangible assets | 68 |  |  | 64 |  |  | 59 |  |  | 60 |  |  | 251 |
Acquisition and integration costs | 26 |  |  | 31 |  |  | 37 |  |  | 50 |  |  | 144 |
Exit and restructuring costs | 11 |  |  | 18 |  |  | 6 |  |  | 4 |  |  | 39 |
Total Operating expenses | 389 |  |  | 407 |  |  | 389 |  |  | 406 |  |  | 1,591 |
Operating income (loss) | 20 |  |  | (14 | ) |  | 25 |  |  | 22 |  |  | 53 |
Other (expense) income |  |  |  |  |  |  |  |  |
Foreign exchange (loss) income | (27 | ) |  | 11 |  |  | (6 | ) |  | — |  |  | (22 | )
Interest, net | (51 | ) |  | (49 | ) |  | (45 | ) |  | (49 | ) |  | (194 | )
Other, net | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Total Other (expenses)/income | (78 | ) |  | (39 | ) |  | (51 | ) |  | (49 | ) |  | (217 | )
(Loss) Income before income taxes | (58 | ) |  | (53 | ) |  | (26 | ) |  | (27 | ) |  | (164 | )
Income tax expense (benefit) | (33 | ) |  | 23 |  |  | 3 |  |  | (20 | ) |  | (27 | )
Net (loss) income | $ | (25 | ) |  | $ | (76 | ) |  | $ | (29 | ) |  | $ | (7 | ) |  | $ | (137 | )
Basic earnings per share: | $ | (0.50 | ) |  | $ | (1.50 | ) |  | $ | (0.57 | ) |  | $ | (0.13 | ) |  | $ | (2.69 | )
Diluted earnings per share: | $ | (0.50 | ) |  | $ | (1.50 | ) |  | $ | (0.57 | ) |  | $ | (0.13 | ) |  | $ | (2.69 | )
Basic weighted average shares outstanding | 50,666,970 |  |  | 50,917,161 |  |  | 51,151,541 |  |  | 51,207,102 |  |  | 50,996,297 |
Diluted weighted average and equivalent shares outstanding | 50,666,970 |  |  | 50,917,161 |  |  | 51,151,541 |  |  | 51,207,102 |  |  | 50,996,297 |
High/Low Stock Price: |  |  |  |  |  |  |  |  |
High | $92.48 |  | $119.47 |  | $117.00 |  | $83.02 |  | $119.47
Low | $74.40 |  | $88.41 |  | $71.95 |  | $63.92 |  | $63.92
| 2014
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
Net sales |  |  |  |  |  |  |  |  |
Net sales of tangible products | $ | 262 |  |  | $ | 270 |  |  | $ | 283 |  |  | $ | 684 |  |  | $ | 1,499 |
Revenue from services and software | 26 |  |  | 18 |  |  | 21 |  |  | 107 |  |  | 172 |
Total Net sales | 288 |  |  | 288 |  |  | 304 |  |  | 791 |  |  | 1,671 |
Cost of sales |  |  |  |  |  |  |  |  |
Cost of sales of tangible products | 130 |  |  | 137 |  |  | 142 |  |  | 383 |  |  | 792 |
Cost of services and software | 10 |  |  | 9 |  |  | 10 |  |  | 72 |  |  | 101 |
Total Cost of sales | 140 |  |  | 146 |  |  | 152 |  |  | 455 |  |  | 893 |
Gross profit | 148 |  |  | 142 |  |  | 152 |  |  | 336 |  |  | 778 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling and marketing | 35 |  |  | 36 |  |  | 37 |  |  | 105 |  |  | 213 |
Research and development | 23 |  |  | 24 |  |  | 25 |  |  | 79 |  |  | 151 |
General and administrative | 28 |  |  | 26 |  |  | 25 |  |  | 59 |  |  | 138 |
Amortization of intangible assets | 2 |  |  | 3 |  |  | 3 |  |  | 46 |  |  | 54 |
Acquisition and integration costs | 6 |  |  | 20 |  |  | 35 |  |  | 66 |  |  | 127 |
Exit and restructuring costs | — |  |  | — |  |  | — |  |  | 6 |  |  | 6 |
Total Operating expenses | 94 |  |  | 109 |  |  | 125 |  |  | 361 |  |  | 689 |
Operating income (loss) | 54 |  |  | 33 |  |  | 27 |  |  | (25 | ) |  | 89 |
Other (expense) income |  |  |  |  |  |  |  |  |
Foreign exchange (loss) income | — |  |  | — |  |  | — |  |  | (9 | ) |  | (9 | )
Interest, net | — |  |  | (2 | ) |  | — |  |  | (60 | ) |  | (62 | )
Other, net | — |  |  | — |  |  | (2 | ) |  | 1 |  |  | (1 | )
Total Other (expenses)/income | — |  |  | (2 | ) |  | (2 | ) |  | (68 | ) |  | (72 | )
Income (loss) before income taxes | 54 |  |  | 31 |  |  | 25 |  |  | (93 | ) |  | 17 |
Income tax expense (benefit) | 12 |  |  | 4 |  |  | 10 |  |  | (41 | ) |  | (15 | )
Net income (loss) | $ | 42 |  |  | $ | 27 |  |  | $ | 15 |  |  | $ | (52 | ) |  | $ | 32 |
Basic earnings per share: | $ | 0.83 |  |  | $ | 0.54 |  |  | $ | 0.29 |  |  | $ | (1.02 | ) |  | $ | 0.64 |
Diluted earnings per share: | $ | 0.82 |  |  | $ | 0.54 |  |  | $ | 0.29 |  |  | $ | (1.02 | ) |  | $ | 0.63 |
Basic weighted average shares outstanding | 50,402,469 |  |  | 50,606,008 |  |  | 50,835,492 |  |  | 50,452,097 |  |  | 50,789,173 |
Diluted weighted average and equivalent shares outstanding | 50,974,303 |  |  | 51,277,628 |  |  | 51,460,537 |  |  | 50,452,097 |  |  | 51,379,698 |
High/Low Stock Price: |  |  |  |  |  |  |  |  |
High | $72.76 |  | $87.53 |  | $86.02 |  | $79.11 |  | $87.53
Low | $52.61 |  | $60.06 |  | $72.10 |  | $58.95 |  | $52.61

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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