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Consolidated Statements of Loss (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Net sales $ 402.6 $ 441.6
Cost of products sold 283.3 322.0
Gross profit 119.3 119.6
Operating costs and expenses:    
Selling, general and administrative expenses 95.0 98.8
Amortization of intangibles 10.9 11.1
Restructuring charges 3.3 0.3
Change in fair value of contingent consideration 0.0 2.6
Total operating costs and expenses 109.2 112.8
Operating income [1] 10.1 6.8
Non-operating expense (income):    
Interest expense 13.9 9.7
Interest income (2.4) (1.4)
Non-operating pension expense (income) 0.1 (1.4)
Other expense, net 1.8 0.9
Loss before income tax (3.3) (1.0)
Income tax expense 0.4 1.7
Net loss $ (3.7) $ (2.7)
Per share:    
Basic loss per share $ (0.04) $ (0.03)
Diluted loss per share $ (0.04) $ (0.03)
Weighted average number of shares outstanding:    
Basic (in shares) 94.9 96.2
Diluted (in shares) [2] 94.9 96.2
[1] Operating income is defined as i) net sales; ii) less cost of products sold; iii) less selling, general and administrative expenses; iv) less amortization of intangibles; v) less restructuring charges; and vi) less change in the fair value of contingent consideration.
[2] Due to the net loss during the three months ended March 31, 2023, the denominator in the diluted earnings per share calculation does not include the effects of the stock awards for which the average market price for the period exceeds the exercise price, as it would result in a less dilutive computation. As a result, reporting diluted earnings per share for the three months ended March 31, 2023 are the same as basic earnings per share.