Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v3.20.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Net sales $ 1,521.8 $ 1,244.5 $ 4,131.1 $ 3,656.8
Cost of sales 322.7 243.4 841.2 728.2
Gross profit 1,199.1 1,001.1 3,289.9 2,928.6
Royalty overrides 463.1 363.8 1,251.2 1,090.1
Selling, general, and administrative expenses 529.7 500.1 1,559.5 1,412.5
Other operating income (0.6) (6.4) (13.0) (33.7)
Operating income 206.9 143.6 492.2 459.7
Interest expense, net 35.2 31.6 89.0 104.0
Other income, net   (1.3)   (15.7)
Income before income taxes 171.7 113.3 403.2 371.4
Income taxes 33.6 31.8 104.4 117.1
Net income $ 138.1 $ 81.5 $ 298.8 $ 254.3
Earnings per share:        
Basic $ 1.07 $ 0.59 $ 2.21 $ 1.85
Diluted $ 1.04 $ 0.58 $ 2.17 $ 1.79
Weighted-average shares outstanding:        
Basic 129.2 137.4 135.0 137.3
Diluted 132.5 140.0 137.8 142.3