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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015
Income Statement [Abstract] |  |  |  |  |
Net sales |  | $ 832.4 | $ 880.0 | $ 2,357.8 | $ 2,383.9
Cost of sales |  | 470.3 | 520.4 | 1,367.8 | 1,448.1
Gross profit |  | 362.1 | 359.6 | 990.0 | 935.8
Selling and marketing expenses |  | 175.2 | 175.6 | 498.1 | 498.0
General, administrative and other expenses |  | 64.0 | 79.8 | 207.6 | 242.6
Equity income in earnings of unconsolidated affiliates |  | (2.4) | (2.0) | (8.6) | (8.4)
Royalty income, net of royalty expense |  | (5.8) | (4.7) | (15.1) | (13.7)
Operating income |  | 131.1 | 110.9 | 308.0 | 217.3
Other expense, net: |  |  |  |  |
Interest expense, net |  | 20.5 | 33.2 | 65.0 | 74.1
Loss on extinguishment of debt |  | 0.0 | 0.0 | 47.2 | 0.0
Other expense, net |  | 0.3 | 11.8 | 0.0 | 12.7
Total other expense, net |  | 20.8 | 45.0 | 112.2 | 86.8
Income before income taxes |  | 110.3 | 65.9 | 195.8 | 130.5
Income tax provision |  | (33.7) | (25.0) | (60.2) | (43.6)
Net income before non-controlling interest |  | 76.6 | 40.9 | 135.6 | 86.9
Less: Net income (loss) attributable to non-controlling interest | [1],[2] | (1.2) | 0.7 | (3.1) | 2.1
Net income attributable to Tempur Sealy International, Inc. |  | $ 77.8 | $ 40.2 | $ 138.7 | $ 84.8
Earnings per common share: |  |  |  |  |
Basic (in dollars per share) |  | $ 1.34 | $ 0.65 | $ 2.31 | $ 1.38
Diluted (in dollars per share) |  | $ 1.32 | $ 0.64 | $ 2.28 | $ 1.36
Weighted average common shares outstanding: |  |  |  |  |
Basic (in shares) |  | 58.2 | 62.1 | 60.1 | 61.4
Diluted (in shares) |  | 58.8 | 62.9 | 60.8 | 62.5
[1] | As of September 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 nine months ended September 30, 2015, the Company recorded a $0.2 million and $1.1 million adjustment, net of tax, respectively, to adjust the carrying value of redeemable non-controlling interest to its redemption value. [As of September 30, 2016, the accumulated earnings exceeded the redemption value and, accordingly, a redemption value adjustment was not necessary for the three or nine months ended September 30, 2016.
[2] | Net (loss) income attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the three months ended September 30, 2016 and 2015 represented $(1.2) million and $0.5 million, respectively. Net (loss) income attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the nine months ended September 30, 2016 and 2015 represented $(3.1) million and $1.0 million, respectively.

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