Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.6.0.2
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]      
Product sales $ 4,244.2 $ 4,186.5 $ 4,567.2
Shipping & handling revenues 244.2 282.5 391.4
Net sales 4,488.4 4,469.0 4,958.6
Cost of sales 854.6 856.0 982.9
Gross profit 3,633.8 3,613.0 3,975.7
Royalty overrides 1,272.6 1,251.4 1,471.1
Selling, general and administrative expenses 1,966.9 1,784.5 1,991.1
Other operating income (63.8) (6.5)  
Operating income 458.1 583.6 513.5
Interest expense 99.3 100.5 91.7
Interest income 5.9 5.6 12.5
Other expense, net   2.3 13.0
Income before income taxes 364.7 486.4 421.3
Income taxes 104.7 147.3 112.6
NET INCOME $ 260.0 $ 339.1 $ 308.7
Earnings per share      
Basic $ 3.13 $ 4.11 $ 3.58
Diluted $ 3.02 $ 3.97 $ 3.40
Weighted average shares outstanding      
Basic 83.0 82.6 86.3
Diluted 86.1 85.3 90.8