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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015
Income Statement [Abstract] |  |  |  |  |
Net sales |  | $ 804.4 | $ 764.4 | $ 1,525.4 | $ 1,503.9
Cost of sales |  | 467.5 | 466.9 | 897.5 | 927.7
Gross profit |  | 336.9 | 297.5 | 627.9 | 576.2
Selling and marketing expenses |  | 172.8 | 168.6 | 322.9 | 322.4
General, administrative and other expenses |  | 71.9 | 85.1 | 143.6 | 162.8
Equity income in earnings of unconsolidated affiliates |  | (3.4) | (3.4) | (6.2) | (6.4)
Royalty income, net of royalty expense |  | (4.6) | (4.8) | (9.3) | (9.0)
Operating income |  | 100.2 | 52.0 | 176.9 | 106.4
Other expense, net: |  |  |  |  |
Interest expense, net |  | 23.1 | 20.5 | 44.5 | 40.9
Loss on extinguishment of debt |  | 47.2 | 0.0 | 47.2 | 0.0
Other expense (income), net |  | 0.7 | 2.2 | (0.3) | 0.9
Total other expense, net |  | 71.0 | 22.7 | 91.4 | 41.8
Income before income taxes |  | 29.2 | 29.3 | 85.5 | 64.6
Income tax provision |  | (9.2) | (8.3) | (26.5) | (18.6)
Net income before non-controlling interest |  | 20.0 | 21.0 | 59.0 | 46.0
Less: Net income (loss) attributable to non-controlling interest | [1],[2] | (1.3) | (0.2) | (1.9) | 1.4
Net income attributable to Tempur Sealy International, Inc. |  | $ 21.3 | $ 21.2 | $ 60.9 | $ 44.6
Earnings per common share: |  |  |  |  |
Basic (in dollars per share) |  | $ 0.35 | $ 0.35 | $ 1.00 | $ 0.73
Diluted (in dollars per share) |  | $ 0.35 | $ 0.34 | $ 0.99 | $ 0.72
Weighted average common shares outstanding: |  |  |  |  |
Basic (in shares) |  | 60.2 | 61.3 | 61.1 | 61.1
Diluted (in shares) |  | 60.8 | 62.4 | 61.7 | 62.3
[1] | (Loss) attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the three months ended June 30, 2016 and 2015 represented $(1.3) million and $(0.1) million, respectively. (Loss) income attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the six months ended June 30, 2016 and 2015 represented $(1.9) million and $0.5 million, respectively.
[2] | As of June 30, 2015, the redemption value exceeded the accumulated earnings of the Company's redeemable non-controlling interest in Comfort Revolution, LLC. Accordingly, for the three and six months ended June 30, 2015, the Company recorded a $(0.1) million and $0.9 million adjustment, net of tax, respectively, to adjust the carrying value of redeemable non-controlling interest to its redemption value. As of June 30, 2016, the accumulated earnings exceeded the redemption value and, accordingly, a redemption value adjustment was not necessary for the three or six months ended June 30, 2016.

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