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CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Per Share data, unless otherwise specified | 12 Months Ended
--- | ---
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012
CONSOLIDATED STATEMENTS OF INCOME |  |  |
NET SALES | $ 2,173.0 | $ 2,271.7 | $ 2,028.7
Cost of sales | 1,774.1 | 1,838.2 | 1,637.7
Gross profit | 398.9 | 433.5 | 391.0
Selling, general and administrative expenses | 186.9 | 200.8 | 169.2
Acquisition-related costs |  |  | 11.7
Operating income | 212.0 | 232.7 | 210.1
Interest expense, net | (17.0) | (21.0) | (23.8)
Other income, net | 1.4 | 5.1 | 2.3
Income before income taxes | 196.4 | 216.8 | 188.6
Income tax expense | 63.6 | 70.3 | 67.0
Net income | 132.8 | 146.5 | 121.6
Less: net income attributable to noncontrolling interest |  | (0.4) | (0.4)
NET INCOME ATTRIBUTABLE TO CARPENTER | $ 132.8 | $ 146.1 | $ 121.2
EARNINGS PER COMMON SHARE: |  |  |
Basic (in dollars per share) | $ 2.48 | $ 2.75 | $ 2.55
Diluted (in dollars per share) | $ 2.47 | $ 2.73 | $ 2.53
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: |  |  |
Basic (in shares) | 53.3 | 52.9 | 47.1
Diluted (in shares) | 53.6 | 53.2 | 47.5

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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 2 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.23) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9 + Details
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