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In millions, except per share items | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Sales | 3,421.4 | 3,831.0 | 3,304.2 | 17.7 | 2,627.5 | 2,851.0 | 2,720.5 | 2,477.4 |
Sales growth | -10.7% | 15.9% | 18567.8% | -99.3% | -7.8% | 4.8% | 9.8% | -11.3% |
Cost of sales | 2,429.4 | 2,658.5 | 2,290.4 | 1,931.0 | 1,837.6 | 1,979.3 | 1,911.4 | 1,737.2 |
Gross profit | 992.0 | 1,172.5 | 1,013.8 | 879.0 | 789.9 | 871.7 | 809.1 | 740.2 |
Gross margin | 29.0% | 30.6% | 30.7% | 4966.1% | 30.1% | 30.6% | 29.7% | 29.9% |
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Costs and expenses: | | | | | | | | |
Selling and administrative expenses | 463.2 | 476.0 | 411.2 | 356.6 | 346.6 | 386.8 | 352.8 | 308.2 |
Research, development and engineering expenses | 193.2 | 184.4 | 147.0 | 135.2 | 139.5 | 145.0 | 119.4 | 104.3 |
Other operating income, net | -1.5 | -0.4 | 20.6 | 5.3 | -6.7 | -8.9 | -5.0 | -3.2 |
Operating income | 337.1 | 512.5 | 435.0 | 381.9 | 297.1 | 331.0 | 331.9 | 324.5 |
Operating margin | 9.9% | 13.4% | 13.2% | 2157.6% | 11.3% | 11.6% | 12.2% | 13.1% |
Equity income of unconsolidated joint ventures, net | -2.0 | -1.0 | -23.1 | -24.8 | -32.1 | 23.8 | 17.7 | -18.1 |
Other non-operating expense, net | -26.2 | -42.3 | -37.2 | -24.9 | -24.6 | 1.8 | 6.9 | -5.0 |
Interest (expense)/income, net | -0.1 | -7.5 | -16.0 | -12.7 | -7.1 | 0.2 | 4.9 | -1.5 |
Income before income taxes | 312.8 | 463.7 | 652.6 | 369.1 | 297.5 | 356.8 | 640.9 | 336.1 |
Income tax expense | 53.4 | 49.3 | 229.7 | 121.8 | 11.5 | 55.6 | -21.0 | 23.6 |
Tax rate | 17.1% | 10.6% | 35.2% | 33.0% | 3.9% | 15.6% | | 7.0% |
Net income including noncontrolling interests | 259.4 | 414.4 | 422.9 | 247.3 | 286.0 | 301.2 | 661.9 | 312.5 |
Less: net income attributable to noncontrolling interests | 13.6 | 20.3 | 16.8 | 24.3 | 10.8 | 9.7 | 8.7 | 10.5 |
Net income attributable to Company | 245.8 | 394.1 | 406.1 | 223.0 | 275.2 | 291.5 | 653.2 | 302.0 |
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Net income attributable to Company per common share | | | | | | | | |
Basic (in usd per share) | $4.80 | $7.46 | $7.53 | $4.00 | $4.76 | $4.87 | $10.46 | $4.73 |
Diluted (in usd per share) | $4.78 | $7.43 | $7.50 | $3.98 | $4.72 | $4.81 | $10.31 | $4.62 |
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Cash dividends per share of common stock (in usd per share) | | | | | | | | |
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Weighted average common shares outstanding | | | | | | | | |
Basic (in shares) | 51.2 | 52.8 | 53.9 | 55.7 | 57.8 | 59.9 | 62.5 | 63.9 |
Diluted (in shares) | 51.4 | 53.1 | 54.1 | 56.0 | 58.3 | 60.5 | 63.4 | 65.3 |
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