Now let's move to our second quarter results. We were very pleased with our strong second quarter operating performance despite end markets slowing in a variety of international end markets and the significant currency headwinds we faced in the quarter. Thanks our differentiated 80/20 operational focus, our business has produced very strong operating margin improvement in the second quarter due to excellent management of input and overhead costs. We also continued to return significant levels of cash our shareholders through our share repurchase program, as well as our strong dividend payout.Looking ahead to the second half 2012. We lowered our EPS forecast range, given the ongoing negative impact of currency translation and the expected continuing sluggish demand in the international end markets, as well as additional restructuring expenditures that will now total over $100 million for the year. Ron will cover our forecast in detail later in the call.
Illinois Tool Works Management Discusses Q2 2012 Results - Earnings Call Transcript
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