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Consolidated Statements of Operations (unaudited) (USD $)
In Millions, except Per Share data |
3 Months Ended | 6 Months Ended | ||
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Jul. 02, 2011
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Jul. 03, 2010
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Jul. 02, 2011
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Jul. 03, 2010
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| Income Statement [Abstract] | ||||
| Net sales | $ 1,096.3 | $ 1,014.7 | $ 2,082.2 | $ 1,859.1 |
| Cost of sales | 821.5 | 772.4 | 1,571.1 | 1,438.2 |
| Selling, general and administrative expense | 142.8 | 140.0 | 283.4 | 278.8 |
| Research and development expense | 24.4 | 22.4 | 47.8 | 44.7 |
| Restructuring, exit and impairment charges | (0.3) | 24.2 | 5.0 | 31.6 |
| Operating earnings | 107.9 | 55.7 | 174.9 | 65.8 |
| Equity earnings (loss) | (0.7) | 0.9 | (0.2) | 0.8 |
| Other income (expense), net | 0.9 | (0.4) | 0.9 | 0.6 |
| Earnings before interest, loss on early extinguishment of debt and income taxes | 108.1 | 56.2 | 175.6 | 67.2 |
| Interest expense | (21.2) | (23.9) | (44.5) | (48.2) |
| Interest income | 0.9 | 0.7 | 1.7 | 1.6 |
| Loss on early extinguishment of debt | (0.9) | (4.1) | (5.2) | (4.4) |
| Earnings before income taxes | 86.9 | 28.9 | 127.6 | 16.2 |
| Income tax provision | 17.6 | 15.2 | 30.8 | 15.5 |
| Net earnings | $ 69.3 | $ 13.7 | $ 96.8 | $ 0.7 |
| Earnings per common share: | ||||
| Basic (in shares) | $ 0.78 | $ 0.15 | $ 1.08 | $ 0.01 |
| Diluted (in shares) | $ 0.75 | $ 0.15 | $ 1.05 | $ 0.01 |
| Weighted average shares used for computation of: | ||||
| Basic earnings per common share | 89.3 | 88.7 | 89.3 | 88.6 |
| Diluted earnings per common share | 92.6 | 91.8 | 92.5 | 91.3 |
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- Definition
Sum of Income(Loss) Before Interest, Loss on Early Extinguishment of Debt and Income Taxes, Interest Expense, Interest Income and Loss on Early Extinguishment of Debt
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- Definition
Sum of Operating Earnings (Loss), Earnings (Loss) from Equity Method Invesments, and Other Non-operating Income (Expense)
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- Definition
The aggregate amount provided for estimated restructuring and business exit charges and definite-lived asset impairment loss during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items).
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- Details
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues.
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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