Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Income Statement [Abstract] |
|
|
|
|
| Net sales |
$ 1,584.0
|
$ 1,417.4
|
$ 3,120.5
|
$ 2,818.4
|
| Cost of sales |
(1,219.4)
|
(1,097.3)
|
(2,417.3)
|
(2,199.3)
|
| Gross profit |
364.6
|
320.1
|
703.2
|
619.1
|
| Selling, general, and administrative expenses |
(130.2)
|
(114.8)
|
(258.7)
|
(229.1)
|
| Other expense, net |
(0.6)
|
(5.1)
|
(7.6)
|
(9.0)
|
| Income from operations |
233.8
|
200.2
|
436.9
|
381.0
|
| Interest expense, net |
(25.2)
|
(22.5)
|
(49.2)
|
(44.1)
|
| Income before taxes |
208.6
|
177.7
|
387.7
|
336.9
|
| Provision for income taxes |
(65.4)
|
(61.8)
|
(127.1)
|
(117.3)
|
| Net income |
$ 143.2
|
$ 115.9
|
$ 260.6
|
$ 219.6
|
| Net income per common share: |
|
|
|
|
| Basic |
$ 1.52
|
$ 1.23
|
$ 2.76
|
$ 2.32
|
| Diluted |
1.52
|
1.23
|
2.76
|
2.32
|
| Dividends declared per common share |
$ 0.63
|
$ 0.55
|
$ 1.26
|
$ 1.10
|
| Statements of Comprehensive Income: |
|
|
|
|
| Net income |
$ 143.2
|
$ 115.9
|
$ 260.6
|
$ 219.6
|
| Foreign currency translation adjustment |
(0.1)
|
0.0
|
(0.3)
|
0.0
|
| Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.6 million, $0.6 million, $1.2 million, and $1.1 million |
0.8
|
0.8
|
1.6
|
1.7
|
| Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.2 million, $1.0 million, $2.3 million, and $2.0 million |
2.1
|
1.6
|
4.3
|
3.2
|
| Changes in unfunded employee benefit obligation net of tax of $0.0 million, $2.0 million, $0.0 million and $2.0 million |
|
3.1
|
|
3.1
|
| Other comprehensive income |
2.8
|
5.5
|
5.6
|
8.0
|
| Comprehensive income |
$ 146.0
|
$ 121.4
|
$ 266.2
|
$ 227.6
|