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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Income Statement [Abstract]    
Net sales $ 1,590.6 $ 1,746.4
Cost of sales 1,001.3 1,096.8
Gross profit 589.3 649.6
Selling, general and administrative expenses 396.0 427.8
Amortization expense of intangible assets acquired 21.4 22.6
Stock appreciation rights expense 0.3 2.9
Restructuring and other charges   12.7
Operating profit 171.6 183.6
Interest expense (54.7) (58.5)
Foreign currency exchange (loss) gain related to Venezuelan subsidiaries (1.7) 0.8
Other (expense) income , net (2.9) 5.4
Earnings before income tax provision 112.3 131.3
Income tax provision 20.4 34.1
Net earnings available to common stockholders $ 91.9 $ 97.2 [1],[2]
Net earnings per common share:    
Basic $ 0.47 $ 0.46
Diluted 0.46 0.46
Dividends per common share $ 0.13 $ 0.13
Weighted average number of common shares outstanding:    
Basic 195.2 208.9
Diluted 197.0 211.7
[1] For the three months ended March 31, 2015, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2015, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Condensed Consolidated Balance Sheets for the three months ended March 31, 2015. As a result, corresponding changes were made on the Condensed Consolidated Statement of Cash Flows. See Note 1 “Organization and Basis of Presentation” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2] For the three months ended March 31, 2015, certain foreign currency translation adjustments were misclassified on the Condensed Consolidated Statement of Comprehensive Income in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 1 “Organization and Basis of Presentation” under the heading “Reclassifications and Revisions” for further discussion of the revisions.