XML 55 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income Statement [Abstract]                      
Net sales $ 279.4 $ 269.4 $ 291.0 $ 249.7 $ 247.6 $ 248.7 $ 224.4 $ 177.8 $ 1,089.5 $ 898.5 $ 707.9
Cost of sales                 807.4 677.3 524.5
Gross profit 72.0 69.0 79.2 61.9 61.6 61.3 54.7 43.6 282.1 221.2 183.4
Selling, engineering, general and administrative expenses                 159.1 144.3 119.5
Acquisition and integration-related expenses 0.2 0.4 0.4 0.5 0.5 0.7 1.0 0.5 1.5 2.7 1.4
Restructuring         0.1 0.1 0.1 0.3 0.0 0.6 1.7
Operating income                 121.5 73.6 60.8
Interest expense                 9.3 7.3 1.9
Debt settlement charges                 0.0 0.0 0.3
Pension settlement charges         6.1       0.0 6.1 0.0
Other expense (income), net                 0.6 (0.8) 1.8
Income before income taxes                 111.6 61.0 56.8
Income tax expense                 17.9 0.5 17.4
Income from continuing operations 32.2 21.7 26.9 12.9 29.3 12.5 11.5 7.2 93.7 60.5 39.4
Gain from discontinued operations and disposal, net of income tax expense (benefit) of $0.1, $(0.8) and $3.4, respectively 0.3 0.0 0.0 0.0 1.1 0.0 (0.1) 0.1 0.3 1.1 4.4
Net income $ 32.5 [1] $ 21.7 [2] $ 26.9 [3] $ 12.9 [4] $ 30.4 [5] $ 12.5 [6] $ 11.4 [7] $ 7.3 [8] $ 94.0 $ 61.6 $ 43.8
Basic earnings per share:                      
Earnings from continuing operations (usd per share)                 $ 1.56 $ 1.01 $ 0.65
Earnings from discontinued operations and disposal, net of tax (usd per share)                 0.01 0.02 0.07
Net earnings per share (usd per share)                 1.57 1.03 0.72
Diluted earnings per share:                      
Earnings from continuing operations (usd per share) $ 0.53 $ 0.36 $ 0.44 $ 0.21 $ 0.48 $ 0.21 $ 0.19 $ 0.12 1.53 1.00 0.64
Earnings from discontinued operations and disposal, net of tax (usd per share) 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.01 0.02 0.07
Net earnings per share (usd per share) $ 0.53 $ 0.36 $ 0.44 $ 0.21 $ 0.50 $ 0.21 $ 0.19 $ 0.12 $ 1.54 $ 1.02 $ 0.71
Weighted average shares outstanding:                      
Basic (shares)                 59.9 59.7 60.4
Diluted (shares)                 61.2 60.4 61.2
[1] Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.1 million and $0.2 million, respectively, as well as an $8.6 million net benefit from tax planning strategies.
[2] Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.1 million and $0.4 million, respectively.
[3] Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.4 million and $0.4 million, respectively.
[4] Income from continuing operations includes pre-tax purchase accounting expenses, acquisition and integration-related expenses and hearing loss settlement charges of $0.6 million, $0.5 million and $0.4 million, respectively.
[5] Income from continuing operations includes pre-tax purchase accounting expenses, acquisition and integration-related expenses, restructuring charges, pension settlement charges and hearing loss settlement charges of $0.5 million, $0.5 million, $0.1 million, $6.1 million and $1.5 million, respectively, as well as a $20.8 million net benefit from special tax items, primarily represented by the Company’s preliminary estimate of the impact of the 2017 Tax Act, including the effect of the reduction in the corporate tax rate in the U.S.
[6] Income from continuing operations includes pre-tax purchase accounting expenses, acquisition and integration-related expenses, and restructuring charges of $1.3 million, $0.7 million and $0.1 million, respectively, as well as $0.6 million of tax expense associated with a change in the enacted state tax rate in Illinois.
[7] Income from continuing operations includes pre-tax purchase accounting expenses, acquisition and integration-related expenses, and restructuring charges of $2.5 million, $1.0 million and $0.1 million, respectively.
[8] Income from continuing operations includes pre-tax purchase accounting expenses, acquisition and integration-related expenses, restructuring charges and executive severance costs of $0.5 million, $0.5 million, $0.3 million and $0.7 million, respectively.