Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Product sales $ 1,036.4 $ 1,157.0 $ 3,154.7 $ 3,514.4
Shipping & handling revenues 66.5 99.2 215.9 310.6
Net sales 1,102.9 1,256.2 3,370.6 3,825.0
Cost of sales 206.9 255.0 651.6 763.3
Gross profit 896.0 1,001.2 2,719.0 3,061.7
Royalty overrides 304.7 363.9 946.4 1,136.5
Selling, general & administrative expenses 429.7 609.7 1,331.6 1,573.7
Operating income 161.6 27.6 441.0 351.5
Interest expense, net 24.1 19.9 69.3 56.2
Other expense, net   9.8 2.3 13.0
Income (loss) before income taxes 137.5 (2.1) 369.4 282.3
Income taxes 43.9 (13.3) 114.8 76.9
NET INCOME $ 93.6 $ 11.2 $ 254.6 $ 205.4
Earnings per share:        
Basic $ 1.13 $ 0.14 $ 3.09 $ 2.34
Diluted $ 1.09 $ 0.13 $ 2.99 $ 2.22
Weighted average shares outstanding:        
Basic 82.6 81.9 82.5 87.8
Diluted 85.7 86.2 85.1 92.6
Dividends declared per share       $ 0.30