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Revenue | 6 Months Ended
--- | ---
Jun. 30, 2018
Revenue [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The cumulative effect of the changes made to our condensed consolidated January 1, 2018 balance sheet for the adoption of ASC 606 was as follows:
($ in millions) | Balance at December 31, 2017 |  | Adjustments Due to ASC 606 |  | Balance at January 1, 2018
Assets: |  |  |  |  |
Accounts receivable, net | $ | 253.2 |  |  | $ | 25.0 |  |  | $ | 278.2 |
Inventories | 215.2 |  |  | (20.8 | ) |  | 194.4 |
Other current assets | 39.2 |  |  | (8.4 | ) |  | 30.8 |
Liabilities and Equity: |  |  |  |  |
Other current liabilities | $ | 77.0 |  |  | $ | (13.7 | ) |  | $ | 63.3 |
Deferred income taxes | 10.4 |  |  | 3.0 |  |  | 13.4 |
Other long-term liabilities | 42.6 |  |  | (4.9 | ) |  | 37.7 |
Retained earnings | 1,178.2 |  |  | 11.4 |  |  | 1,189.6 |
The impact of the adoption of ASC 606 on our condensed consolidated income statement for the three months ended June 30, 2018 was as follows:
($ in millions) | As Reported |  | Balances without Adoption of ASC 606 |  | Effects of Change (Lower)/Higher
Net sales | $ | 447.5 |  |  | $ | 452.6 |  |  | $ | (5.1 | )
Cost of goods and services sold | 305.3 |  |  | 305.9 |  |  | (0.6 | )
Research and development | 10.8 |  |  | 10.9 |  |  | (0.1 | )
Other expense | 1.1 |  |  | 0.9 |  |  | 0.2 |
Income tax expense | 6.0 |  |  | 6.8 |  |  | (0.8 | )
Net income | $ | 56.1 |  |  | $ | 59.9 |  |  | $ | (3.8 | )
The impact of the adoption of ASC 606 on our condensed consolidated income statement for the six months ended June 30, 2018 was as follows:
($ in millions) | As Reported |  | Balances without Adoption of ASC 606 |  | Effects of Change (Lower)/Higher
Net sales | $ | 863.2 |  |  | $ | 870.9 |  |  | $ | (7.7 | )
Cost of goods and services sold | 586.6 |  |  | 588.6 |  |  | (2.0 | )
Research and development | 20.4 |  |  | 20.5 |  |  | (0.1 | )
Other expense | 4.2 |  |  | 3.9 |  |  | 0.3 |
Income tax expense | 18.5 |  |  | 19.7 |  |  | (1.2 | )
Net income | $ | 99.7 |  |  | $ | 104.4 |  |  | $ | (4.7 | )
The impact of the adoption of ASC 606 on our condensed consolidated balance sheet as of June 30, 2018 was as follows:
($ in millions) | As Reported |  | Balances without Adoption of ASC 606 |  | Effects of Change Higher/(Lower)
Assets: |  |  |  |  |
Accounts receivable, net | $ | 296.7 |  |  | $ | 276.8 |  |  | $ | 19.9 |
Inventories | 208.2 |  |  | 225.0 |  |  | (16.8 | )
Other current assets | 36.5 |  |  | 46.1 |  |  | (9.6 | )
Liabilities and Equity: |  |  |  |  |
Other current liabilities | $ | 86.2 |  |  | $ | 96.5 |  |  | $ | (10.3 | )
Deferred income taxes | 11.8 |  |  | 10.0 |  |  | 1.8 |
Other long-term liabilities | 42.4 |  |  | 47.1 |  |  | (4.7 | )
Retained earnings | 1,258.0 |  |  | 1,251.3 |  |  | 6.7 |
Disaggregation of Revenue [Table Text Block] | The following table presents the approximate percentage of our net sales by market group:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 (1) |  | 2018 |  | 2017 (1)
Biologics | 21 | % |  | 23 | % |  | 22 | % |  | 23 | %
Generics | 21 | % |  | 20 | % |  | 21 | % |  | 20 | %
Pharma | 35 | % |  | 36 | % |  | 35 | % |  | 37 | %
Contract-Manufactured Products | 23 | % |  | 21 | % |  | 22 | % |  | 20 | %
| 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
(1) As noted above, prior period amounts have not been adjusted under the modified retrospective method.
The following table presents the approximate percentage of our net sales by product category:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 (1) |  | 2018 |  | 2017 (1)
High-Value Components | 43 | % |  | 41 | % |  | 42 | % |  | 42 | %
Standard Packaging | 31 | % |  | 34 | % |  | 32 | % |  | 34 | %
Delivery Devices | 3 | % |  | 4 | % |  | 4 | % |  | 4 | %
Contract-Manufactured Products | 23 | % |  | 21 | % |  | 22 | % |  | 20 | %
| 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
(1) As noted above, prior period amounts have not been adjusted under the modified retrospective method.
The following table presents the approximate percentage of our net sales by geographic location:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 (1) |  | 2018 |  | 2017 (1)
Americas | 48 | % |  | 52 | % |  | 47 | % |  | 52 | %
Europe, Middle East, Africa | 44 | % |  | 41 | % |  | 45 | % |  | 41 | %
Asia Pacific | 8 | % |  | 7 | % |  | 8 | % |  | 7 | %
| 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
(1) As noted above, prior period amounts have not been adjusted under the modified retrospective method.
Change in Contract with Customer, Asset and Liability [Abstract] | The following table summarizes our contract assets and liabilities, excluding contract assets included in accounts receivable, net:
| ($ in millions)
Contract assets, December 31, 2017 | $ | 7.5 |
Contract assets, June 30, 2018 | 6.0 |
Change in contract assets - (decrease) increase | $ | (1.5 | )
Deferred income, December 31, 2017 | $ | (33.6 | )
Deferred income, June 30, 2018 | (24.2 | )
Change in deferred income - decrease (increase) | $ | 9.4 |

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