SPECTRUM BRANDS HOLDINGS, INC. Consolidated Statements of Income Years ended September 30, 2016, 2015 and 2014 (in millions, except per share figures)
| | | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Net sales | | $ | 5,039.7 |
| | $ | 4,690.4 |
| | $ | 4,429.1 |
| Cost of goods sold | | 3,119.3 |
| | 3,018.0 |
| | 2,856.5 |
| Restructuring and related charges | | 0.5 |
| | 2.1 |
| | 3.7 |
| Gross profit | | 1,919.9 |
| | 1,670.3 |
| | 1,568.9 |
| Selling | | 776.6 |
| | 720.7 |
| | 678.2 |
| General and administrative | | 372.3 |
| | 338.8 |
| | 321.6 |
| Research and development | | 58.7 |
| | 51.3 |
| | 47.9 |
| Acquisition and integration related charges | | 36.7 |
| | 58.8 |
| | 20.1 |
| Restructuring and related charges | | 14.7 |
| | 26.6 |
| | 19.2 |
| Write-off from impairment of intangible assets | | 4.7 |
| | — |
| | — |
| Total operating expenses | | 1,263.7 |
| | 1,196.2 |
| | 1,087.0 |
| Operating income | | 656.2 |
| | 474.1 |
| | 481.9 |
| Interest expense | | 250.0 |
| | 271.9 |
| | 202.1 |
| Other non-operating expense, net | | 8.6 |
| | 8.9 |
| | 6.3 |
| Income from operations before income taxes | | 397.6 |
| | 193.3 |
| | 273.5 |
| Income tax expense | | 40.0 |
| | 43.9 |
| | 59.0 |
| Net income | | 357.6 |
| | 149.4 |
| | 214.5 |
| Net income attributable to non-controlling interest | | 0.5 |
| | 0.5 |
| | 0.4 |
| Net income attributable to controlling interest | | $ | 357.1 |
| | $ | 148.9 |
| | $ | 214.1 |
| Earnings Per Share | | | | | | | Basic earnings per share | | $ | 6.02 |
| | $ | 2.68 |
| | $ | 4.07 |
| Diluted earnings per share | | 5.99 |
| | 2.66 |
| | 4.02 |
| Dividends per share | | 1.47 |
| | 1.27 |
| | 1.15 |
| Weighted Average Shares Outstanding | | | | | | | Basic | | 59.3 |
| | 55.6 |
| | 52.6 |
| Diluted | | 59.6 |
| | 55.9 |
| | 53.3 |
|
See accompanying notes to the consolidated financial statements.
|
