Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Net sales $ 4,877.1 $ 4,891.8 $ 4,427.7
Cost of sales 958.0 919.3 848.6
Gross profit 3,919.1 3,972.5 3,579.1
Royalty overrides 1,448.2 1,364.0 1,254.2
Selling, general, and administrative expenses 1,940.3 1,955.2 1,758.6
Other operating income (37.5) (29.8) (50.8)
Operating income 568.1 683.1 617.1
Interest expense 153.0 181.0 160.8
Interest income 20.6 19.4 14.5
Other (income) expense, net (15.7) 57.3 (0.4)
Income before income taxes 451.4 464.2 471.2
Income taxes 140.4 167.6 257.3
Net income $ 311.0 $ 296.6 $ 213.9
Earnings per share:      
Basic $ 2.26 $ 2.12 $ 1.35
Diluted $ 2.20 $ 1.98 $ 1.29
Weighted-average shares outstanding:      
Basic 137.4 140.2 158.5
Diluted 141.6 149.5 165.7