Annual report pursuant to Section 13 and 15(d)

Quarterly Information (Tables)

v3.3.1.900
Quarterly Information (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Net Income, Basic Earnings Per Share and Diluted Earnings Per Share

 

 

 

2015

 

 

2014

 

 

 

(In millions, except per share data)

 

First Quarter Ended March 31

 

 

 

 

 

 

 

 

Net sales

 

$

1,105.4

 

 

$

1,262.6

 

Gross profit

 

 

890.0

 

 

 

1,011.4

 

Net income

 

 

78.2

 

 

 

74.6

 

Earnings per share

 

 

 

 

 

 

 

 

Basic

 

$

0.95

 

 

$

0.78

 

Diluted

 

$

0.92

 

 

$

0.74

 

Second Quarter Ended June 30

 

 

 

 

 

 

 

 

Net sales

 

$

1,162.3

 

 

$

1,306.2

 

Gross profit

 

 

933.0

 

 

 

1,049.0

 

Net income

 

 

82.8

 

 

 

119.5

 

Earnings per share

 

 

 

 

 

 

 

 

Basic

 

$

1.00

 

 

$

1.39

 

Diluted

 

$

0.97

 

 

$

1.31

 

Third Quarter Ended September 30

 

 

 

 

 

 

 

 

Net sales

 

$

1,102.9

 

 

$

1,256.2

 

Gross profit

 

 

896.0

 

 

 

1,001.3

 

Net income

 

 

93.6

 

 

 

11.3

 

Earnings per share

 

 

 

 

 

 

 

 

Basic

 

$

1.13

 

 

$

0.14

 

Diluted

 

$

1.09

 

 

$

0.13

 

Fourth Quarter Ended December 31

 

 

 

 

 

 

 

 

Net sales

 

$

1,098.4

 

 

$

1,133.6

 

Gross profit

 

 

894.0

 

 

 

914.0

 

Net income(1)

 

 

84.5

 

 

 

103.3

 

Earnings per share

 

 

 

 

 

 

 

 

Basic

 

$

1.02

 

 

$

1.26

 

Diluted

 

$

0.98

 

 

$

1.21

 

 

(1)

At December 31, 2014, the Company revised its estimate of its employee bonus accrual. This change in estimate was a result of the Company not meeting its projected targets. This change in estimate resulted in a cumulative adjustment that increased the Company’s operating income by a pre-tax amount of $16.6 million which increased the Company’s 2014 fourth quarter net income by $12.0 million, net of tax.