XML 10 R3.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales $ 420.9 $ 448.0 $ 1,218.1 $ 1,344.2
Cost of products sold 284.0 303.2 818.2 915.9
Gross profit 136.9 144.8 399.9 428.3
Operating costs and expenses:        
Selling, general and administrative expenses 92.2 98.8 274.4 291.8
Amortization of intangibles 11.7 10.8 33.2 32.7
Restructuring 6.7 3.0 6.1 6.3
Impairment of goodwill and intangible assets 0.0 0.0 165.2 0.0
Total operating costs and expenses 110.6 112.6 478.9 330.8
Operating income (loss) [1] 26.3 32.2 (79.0) 97.5
Non-operating expense (income):        
Interest expense 13.7 15.6 40.8 45.0
Interest income (2.0) (1.6) (6.1) (6.2)
Non-operating pension expense 0.4 0.2 5.6 0.5
Other expense (income), net 0.4 (3.6) (0.4) (2.1)
Income (loss) before income tax 13.8 21.6 (118.9) 60.3
Income tax expense 4.5 6.7 3.3 22.7
Net income (loss) $ 9.3 $ 14.9 $ (122.2) $ 37.6
Per share:        
Basic income (loss) per share $ 0.1 $ 0.16 $ (1.27) $ 0.4
Diluted income (loss) per share $ 0.09 $ 0.15 $ (1.27) $ 0.39
Weighted average number of shares outstanding:        
Basic (in shares) 96.0 95.4 96.2 95.2
Diluted (in shares) [2] 97.5 96.7 96.2 96.8
[1] Operating income (loss) 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; and vi) less change in the fair value of contingent consideration.
[2] As a result of the net loss for the nine months ended September 30, 2024, diluted earnings per share does not include the effects of the stock awards for which the average market price for the period exceeds the exercised price, as their effect would have been anti-dilutive.