Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Net sales $ 1,242.8 $ 1,085.4 $ 3,705.2 $ 3,334.4
Cost of sales 218.1 215.4 693.4 638.8
Gross profit 1,024.7 870.0 3,011.8 2,695.6
Royalty overrides 344.0 310.1 1,031.1 944.1
Selling, general, and administrative expenses 499.4 445.2 1,469.7 1,327.0
Other operating income (6.0) (4.6) (23.9) (43.5)
Operating income 187.3 119.3 534.9 468.0
Interest expense, net 39.9 38.4 124.1 106.5
Other expense, net 30.9 0.0 60.0 0.0
Income before income taxes 116.5 80.9 350.8 361.5
Income taxes 45.3 26.4 103.1 84.2
Net income $ 71.2 $ 54.5 $ 247.7 $ 277.3
Earnings per share:        
Basic $ 0.52 $ 0.34 $ 1.75 $ 1.70
Diluted $ 0.49 $ 0.33 $ 1.64 $ 1.63
Weighted-average shares outstanding:        
Basic 136.2 159.1 141.3 162.7
Diluted 145.6 165.9 150.8 170.1