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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]      
Net sales $ 6,778.3 $ 7,031.5 $ 7,750.5
Cost of sales [1] 4,246.7 4,444.9 5,062.9
Gross profit 2,531.6 2,586.6 2,687.6
Selling, general and administrative expenses [1] 1,604.5 1,652.3 1,841.3
Amortization expense of intangible assets acquired 94.9 88.7 118.9
Stock appreciation rights expense (0.1) 3.9 8.1
Restructuring and other charges [1] 13.2 78.3 65.7
Operating profit 819.1 763.4 653.6
Interest expense (213.1) (227.7) (287.7)
Impairment of equity method investment [2],[3],[4]     (5.7)
Foreign currency exchange loss related to Venezuelan subsidiaries (3.4) (33.1) (20.4)
Charge related to Venezuelan subsidiaries [1] (46.0)    
Gain from Settlement agreement [2],[3],[4]     21.1
Loss on debt redemption and refinancing activities (0.1) (110.0) [2],[3] (102.5) [2],[3],[4]
(Loss) gain on sale of business, net (1.8) 13.4  
Other income, net 11.2 19.9 8.8
Earnings before income tax provision 565.9 425.9 267.2
Income tax provision [5] 79.5 90.5 9.1
Net earnings available to common stockholders $ 486.4 $ 335.4 [2],[3] $ 258.1 [2],[3],[4]
Net earnings per common share:      
Net earnings per common share - basic [6],[7] $ 2.49 $ 1.63 $ 1.22
Net earnings per common share - diluted [6],[7] 2.46 1.62 1.20
Dividends per common share $ 0.61 $ 0.52 $ 0.52
Weighted average number of common shares outstanding:      
Basic 194.3 203.9 210.0
Diluted [6] 197.2 206.7 213.9
[1] Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details
[2] Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3] During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 million in December 2014 related to the 18 million shares of Common Stock issued in connection with the Settlement agreement. See Note 16 “Income Taxes” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[4] Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[5] Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.
[6] The Company early adopted ASU 2016-09 on a prospective basis as required, related to the recognition of excess tax benefits to the Consolidated Statement of Operations which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016, and recognition of excess tax benefits of $18.1 million in the income tax provision for the year ended December 31, 2016. As a result, net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[7] The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.