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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 | $ 1,364.3 | $ 1,348.8 | $ 1,651.9
Cost of sales | 1,107.3 | 1,156.5 | 1,302.2
Gross margin | 257.0 | 192.3 | 349.7
Selling, general and administrative expense | 172.6 | 178.0 | 191.9
Other operating income (expense): |  |  |
Currency transaction gains (losses), net | 5.5 | (0.1) | 4.0
Disposition of property and equipment | (0.3) | (0.8) | (0.9)
Other income (expense), net | 4.2 | (0.9) | (0.7)
Corporate expense | (12.7) | (13.6) | (10.5)
Income (loss) from operations | 81.1 | (1.1) | 149.7
Other income (expense): |  |  |
Interest and dividend income | 0.6 | 0.8 | 1.0
Securities transactions, net |  | (12.0) |
Interest expense | (20.5) | (18.5) | (17.0)
Income (loss) before income taxes | 61.2 | (30.8) | 133.7
Income tax expense | 17.9 | 142.8 | 34.5
Net income (loss) | $ 43.3 | $ (173.6) | $ 99.2
Net income (loss) per basic and diluted share | $ 0.37 | $ (1.50) | $ 0.86
Cash dividends per share | $ 0.60 | $ 0.60 | $ 0.60
Weighted average shares used in the calculation of net income (loss) per share | 115.9 | 115.9 | 115.9

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