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QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED) | QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED)
Years Ended December 31, | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
| (in millions, except per share data)
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 894.8 |  |  | $ | 943.7 |  |  | $ | 906.6 |  |  | $ | 977.7 |  |  | $ | 3,722.8 |
Gross profit | 661.2 |  |  | 697.5 |  |  | 681.7 |  |  | 743.0 |  |  | 2,783.4 |
Net income (a) | 206.6 |  |  | 282.7 |  |  | 225.9 |  |  | 7.0 |  |  | 722.2 |
Earnings per common share (a): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | 0.98 |  |  | 1.35 |  |  | 1.08 |  |  | 0.03 |  |  | 3.45 |
Diluted | 0.96 |  |  | 1.32 |  |  | 1.06 |  |  | 0.03 |  |  | 3.38 |
Market price: |  |  |  |  |  |  |  |  |  |  |  |  |  |
High | $ | 143.22 |  |  | $ | 155.22 |  |  | $ | 175.00 |  |  | $ | 174.99 |  |  | $ | 175.00 |
Low | 110.68 |  |  | 123.00 |  |  | 134.53 |  |  | 136.44 |  |  | 110.68 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 883.5 |  |  | $ | 841.8 |  |  | $ | 821.5 |  |  | $ | 888.5 |  |  | $ | 3,435.3 |
Gross profit | 667.9 |  |  | 630.7 |  |  | 608.2 |  |  | 653.2 |  |  | 2,560.0 |
Net income (loss) (b) | 230.2 |  |  | 186.1 |  |  | 170.1 |  |  | (2.8 | ) |  | 583.6 |
Earnings (loss) per common share (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | 1.09 |  |  | 0.88 |  |  | 0.81 |  |  | (0.01 | ) |  | 2.77 |
Diluted | 1.06 |  |  | 0.86 |  |  | 0.79 |  |  | (0.01 | ) |  | 2.70 |
Market price: |  |  |  |  |  |  |  |  |  |  |  |  |  |
High | $ | 100.48 |  |  | $ | 120.74 |  |  | $ | 121.45 |  |  | $ | 119.04 |  |  | $ | 121.45 |
Low | 86.55 |  |  | 92.44 |  |  | 107.35 |  |  | 100.20 |  |  | 86.55 |
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(a) | The fourth quarter of 2018 includes a $116.2 million charge related to the other-than-temporary impairment of certain developed technology and in-process research and development assets and a $180.0 million charge related to a litigation settlement.
(b) | The fourth quarter of 2017 includes a $262.0 million tax expense related to the implementation of U.S. tax law changes and receipt of a $112.5 million ($70.3 million, net of tax) litigation payment.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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