XML 60 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (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 $ 172.3 $ 205.4 $ 345.1 $ 401.9
Cost of sales 127.3 144.7 252.7 286.3
Gross profit 45.0 60.7 92.4 115.6
Selling, engineering, general and administrative expenses 30.3 31.1 59.9 61.5
Acquisition and integration related expenses 0.4 0.0 0.9 0.0
Restructuring 0.0 0.4 1.2 0.4
Operating income 14.3 29.2 30.4 53.7
Interest expense 0.4 0.6 0.8 1.2
Debt settlement charges 0.0 0.0 0.3 0.0
Other (income) expense, net (0.3) 0.0 (1.0) 1.2
Income from continuing operations before income taxes 14.2 28.6 30.3 51.3
Income tax expense (4.8) (10.4) (10.5) (18.7)
Income from continuing operations 9.4 18.2 19.8 32.6
(Loss) gain from discontinued operations and disposal, net of income tax (benefit) expense of $(0.3), $(0.1), $4.1 and $0.0, respectively (0.3) 0.1 2.9 0.6
Net income $ 9.1 $ 18.3 $ 22.7 $ 33.2
Basic earnings per share:        
Earnings from continuing operations (usd per share) $ 0.16 $ 0.29 $ 0.32 $ 0.52
Gain from discontinued operations and disposal, net of tax (usd per share) (0.01) 0.00 0.05 0.01
Net earnings per share (usd per share) 0.15 0.29 0.37 0.53
Diluted earnings per share:        
Earnings from continuing operations (usd per share) 0.15 0.29 0.32 0.51
Gain from discontinued operations and disposal, net of tax (usd per share) 0.00 0.00 0.05 0.01
Net earnings per share (usd per share) $ 0.15 $ 0.29 $ 0.37 $ 0.52
Weighted average common shares outstanding:        
Basic (shares) 60.1 62.6 61.1 62.5
Diluted (shares) 60.9 63.6 61.9 63.5
Cash dividends declared per common share (usd per share) $ 0.07 $ 0.06 $ 0.14 $ 0.12