Income Statement

($ amounts in millions unless otherwise noted) Year Ended December 31
2017 2016
Recasted Recasted
Net sales 1,878.6 1,770.1
Cost of sales 1,064.8 992.8
Gross profit 813.8 777.3
Operating expenses:    
Selling, technical, general and administrative 567.2 596.3
Research and development 46.4 45.0
Goodwill impairment 46.6
Total operating expenses 613.6 687.9
Operating profit 200.2 89.4
Other expenses:    
Interest expense, net (336.9) (372.3)
Foreign exchange loss (53.7) (34.5)
Other (expense) income, net (70.0) 85.6
Total other expense (460.6) (321.2)
Loss before income taxes and non-controlling interests (260.4) (231.8)
Income tax benefit 68.6 41.3
Net loss (191.8) (190.5)
Net loss (income) attributable to non-controlling interests (2.3) 5.6
Net loss attributable to stockholders (194.1) (184.9)
Gain on amendment of Series B Convertible Preferred Stock 32.9
Net loss attributable to common stockholders (194.1) (152.0)
     
Loss per share    
Basic (0.68) (0.62)
Diluted (0.68) (1.06)
     
Weighted average common shares outstanding    
Basic 286.1 243.3
Diluted 286.1 272.3

Note: This selected data is for information only. For complete consolidated financial statements and important risks that may affect actual results, see SEC Filings.