Annual report pursuant to Section 13 and 15(d)

Quarterly Information (Unaudited)

v3.20.4
Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
16. Quarterly Information (Unaudited)
 
    
2020
     
2019
  
    
(in millions, except
per share amounts)
  
First Quarter Ended March 31
                  
Net sales
    $ 1,262.4      $ 1,172.2  
Gross profit
      1,016.7        930.6  
Net income
      45.6        96.3  
Earnings per share:
                  
Basic
    $ 0.33      $ 0.70  
Diluted
    $ 0.32      $ 0.66  
Second Quarter Ended June 30
                  
Net sales
    $ 1,346.9      $ 1,240.1  
Gross profit
      1,074.1        996.9  
Net income
      115.1        76.5  
Earnings per share:
                  
Basic
    $ 0.84      $ 0.56  
Diluted
    $ 0.82      $ 0.54  
Third Quarter Ended September 30
      
Net sales
    $ 1,521.8      $ 1,244.5  
Gross profit
      1,199.1        1,001.1  
Net income
      138.1        81.5  
Earnings per share:
      
Basic
    $ 1.07      $ 0.59  
Diluted
    $ 1.04      $ 0.58  
Fourth Quarter Ended December 31(1)
      
Net sales
    $ 1,410.7      $ 1,220.3  
Gross profit
      1,101.3        990.5  
Net income
      73.8        56.7  
Earnings per share:
      
Basic
    $ 0.61      $ 0.41  
Diluted
    $ 0.59      $ 0.40  
 
(1)
The fourth quarter of 2019 includes a net favorable adjustment to our unrecognized tax benefit liability of $11.4 million primarily attributable to transfer pricing matters in various foreign jurisdictions, and a legal accrual of $40 million relating to the SEC and DOJ investigations relating to the FCPA matter in China as described further in Note 7,
Contingencies
.