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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
NET SALES [1] $ 4,723.0 $ 4,801.1 $ 3,621.3
Cost of products sold 2,790.1 2,840.6 2,157.4
Selling, general and administrative expenses 1,077.9 1,093.7 848.6
Amortization of intangible assets 48.3 46.4 24.2
Asset impairment charges 0.0 0.0 13.0
Restructuring charges 32.4 9.3 10.4
OPERATING INCOME 774.3 811.1 567.7
Interest expense 119.2 84.3 83.8
Other expense (income), net (12.0) 0.4 (15.3)
Income from continuing operations before income taxes 667.1 726.4 499.2
Income taxes 127.2 166.7 110.8
Income after tax 539.9 559.7 388.4
Equity in losses of affiliate 0.0 0.0 7.6
Income from continuing operations, net of tax 539.9 559.7 380.8
Income from discontinued operations, net of tax 146.8 212.7 173.6
NET INCOME 686.7 772.4 554.4
Less: Noncontrolling interests 0.0 0.0 1.3
NET INCOME ATTRIBUTABLE TO FORTUNE BRANDS $ 686.7 $ 772.4 $ 553.1
BASIC EARNINGS PER COMMON SHARE      
Continuing operations $ 4.14 $ 4.07 $ 2.74
Discontinued operations 1.13 1.55 1.25
Basic earnings per share attributable to Fortune Brands 5.27 5.62 3.99
DILUTED EARNINGS PER COMMON SHARE      
Continuing operations 4.11 4.01 2.71
Discontinued operations 1.12 1.53 1.23
Diluted earnings per share attributable to Fortune Brands $ 5.23 $ 5.54 $ 3.94
Basic average number of shares outstanding [2] 130.3 137.5 138.7
Diluted average number of shares outstanding [2] 131.3 139.5 140.2
[1] Based on country of destination
[2] Reflects the impact of share repurchases during the years ended December 31, 2022, 2021 and 2020, respectively.