Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Comprehensive Income

v3.3.0.814
Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 03, 2015
Sep. 27, 2014
Oct. 03, 2015
Sep. 27, 2014
Income Statement [Abstract]        
Net sales $ 991.9 $ 932.1 $ 3,119.6 $ 2,900.1
Cost of sales 710.2 672.9 2,254.7 2,093.3
Selling, general and administrative expense 135.6 134.9 414.0 402.8
Research and development expense 30.3 29.7 92.2 86.1
Restructuring, exit and impairment charges 0.0 0.9 0.0 4.0
Operating earnings 115.8 93.7 358.7 313.9
Equity earnings 1.2 0.7 3.2 0.5
Other income, net 1.2 1.2 4.4 3.5
Earnings before interest and income taxes 118.2 95.6 366.3 317.9
Interest expense (7.0) (6.9) (21.0) (22.7)
Interest income 0.7 0.2 1.7 0.7
Earnings before income taxes 111.9 88.9 347.0 295.9
Income tax provision 39.7 27.9 110.6 98.7
Net earnings from continuing operations 72.2 61.0 236.4 197.2
Discontinued operations:        
Earnings (loss) from discontinued operations, net of tax 0.9 (9.2) 1.5 0.2
Gain on disposal of discontinued operations, net of tax [1] 2.8 52.6 12.8 52.6
Net earnings from discontinued operations, net of tax 3.7 43.4 14.3 52.8
Net earnings $ 75.9 $ 104.4 $ 250.7 $ 250.0
Basic        
Earnings from continuing operations (in dollars per share) $ 0.78 $ 0.65 $ 2.54 $ 2.11
Earnings from discontinued operations (in dollars per share) 0.04 0.46 0.15 0.56
Net earnings (in dollars per share) 0.82 1.11 2.69 2.67
Diluted        
Earnings from continuing operations (in dollars per share) 0.77 0.64 2.50 2.07
Earnings from discontinued operations (in dollars per share) 0.04 0.46 0.15 0.56
Net earnings (in dollars per share) $ 0.81 $ 1.10 $ 2.65 $ 2.63
Weighted Average Number of Shares Outstanding, Diluted [Abstract]        
Basic earnings per common share (in shares) 92.7 93.7 93.3 93.5
Diluted earnings per common share (in shares) 94.0 95.2 94.5 95.1
Comprehensive income $ 71.0 $ 97.7 $ 228.4 $ 248.2
Cash dividends declared per share $ 0.125 $ 0.125 $ 0.375 $ 0.325
[1] The Gain on disposal of discontinued operations for the three months ended October 3, 2015 includes a pre-tax gain of $4.4 million and a net tax provision of $1.6 million. The Gain on disposal of discontinued operations for the nine months ended October 3, 2015 includes a pre-tax gain of $12.8 million and a net tax benefit of $0.0 million. The Gain on disposal of discontinued operations for both the three months and nine months ended September 27, 2014 includes a pre-tax gain of $65.6 million and a net tax provision of $13.0 million.