Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v3.2.0.727
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Product sales $ 1,090.0 $ 1,201.3 $ 2,118.3 $ 2,357.4
Shipping & handling revenues 72.3 104.9 149.4 211.4
Net sales 1,162.3 1,306.2 2,267.7 2,568.8
Cost of sales 229.3 257.2 444.7 508.3
Gross profit 933.0 1,049.0 1,823.0 2,060.5
Royalty overrides 318.7 390.8 641.7 772.5
Selling, general & administrative expenses 470.5 461.9 901.9 964.0
Operating income 143.8 196.3 279.4 324.0
Interest expense, net 23.7 21.4 45.2 36.4
Other expense, net     2.3 3.2
Income before income taxes 120.1 174.9 231.9 284.4
Income taxes 37.3 55.4 70.9 90.2
NET INCOME $ 82.8 $ 119.5 $ 161.0 $ 194.2
Earnings per share:        
Basic $ 1.00 $ 1.39 $ 1.95 $ 2.14
Diluted $ 0.97 $ 1.31 $ 1.90 $ 2.02
Weighted average shares outstanding:        
Basic 82.6 86.1 82.5 90.7
Diluted 85.2 91.2 84.8 95.9
Dividends declared per share       $ 0.30