Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.20.4
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Net sales $ 5,541.8 $ 4,877.1 $ 4,891.8
Cost of sales 1,150.6 958.0 919.3
Gross profit 4,391.2 3,919.1 3,972.5
Royalty overrides 1,690.1 1,448.2 1,364.0
Selling, general, and administrative expenses 2,075.0 1,940.3 1,955.2
Other operating income (14.5) (37.5) (29.8)
Operating income 640.6 568.1 683.1
Interest expense 133.0 153.0 181.0
Interest income 8.8 20.6 19.4
Other expense (income), net   (15.7) 57.3
Income before income taxes 516.4 451.4 464.2
Income taxes 143.8 140.4 167.6
Net income $ 372.6 $ 311.0 $ 296.6
Earnings per share:      
Basic $ 2.83 $ 2.26 $ 2.12
Diluted $ 2.77 $ 2.20 $ 1.98
Weighted-average shares outstanding:      
Basic 131.5 137.4 140.2
Diluted 134.5 141.6 149.5