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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Income Statement [Abstract] |  |
Net sales | $ 430.4 | $ 369.8
Cost of sales | 255.6 | 263.8
Gross margin | 174.8 | 106.0
Selling, general and administrative expense | 58.4 | 45.3
Other operating income (expense): |  |
Currency transaction losses, net | (5.0) | (0.2)
Other operating expense, net | (3.9) | (4.1)
Income from operations | 107.5 | 56.4
Other income (expense): |  |
Interest and dividend income | 1.0 | 0.2
Securities transactions, net | (0.2) |
Other components of net periodic pension and OPEB cost | (3.8) | (4.1)
Interest expense | (4.8) | (4.7)
Income before income taxes | 99.7 | 47.8
Income tax expense | 29.0 | 11.0
Net income | $ 70.7 | $ 36.8
Net income per basic and diluted share | $ 0.61 | $ 0.32
Cash dividends per share | $ 0.17 | $ 0.15
Weighted average shares used in the calculation of net income per share | 115.9 | 115.9

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