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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues $ 518.7 $ 498.8 $ 912.6 $ 904.6
Cost of products sold 352.9 336.4 621.0 614.7
Gross profit 165.8 162.4 291.6 289.9
Operating costs and expenses:        
Selling, general and administrative expenses 95.5 100.0 191.4 201.8
Amortization of intangibles 8.9 8.5 18.2 17.8
Restructuring charges 0.0 2.1 2.7 6.8
Total operating costs and expenses 104.4 110.6 212.3 226.4
Operating income [1] 61.4 51.8 79.3 63.5
Non-operating expense (income):        
Interest expense 11.7 9.9 22.1 19.3
Interest income (1.3) (1.4) (2.2) (2.4)
Non-operating pension income (1.4) (2.3) (2.8) (4.5)
Other expense, net 1.2 1.6 1.0 1.0
Income before income tax 51.2 44.0 61.2 50.1
Income tax expense 15.3 18.3 25.9 14.0
Net income $ 35.9 $ 25.7 $ 35.3 $ 36.1
Basic income per share:        
Basic income per share $ 0.35 $ 0.24 $ 0.35 $ 0.34
Diluted income per share:        
Diluted income per share $ 0.35 $ 0.24 $ 0.34 $ 0.33
Weighted average number of shares outstanding:        
Basic 101.3 106.1 101.8 106.4
Diluted 102.2 108.0 103.3 109.0
[1]
Operating income as presented in the segment table above is defined as i) net sales; ii) less cost of products sold; iii) less selling, general and administrative expenses; iv) less amortization of intangibles; and v) less restructuring charges.