QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

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)
2019
Net sales	$	993.0	$	1,086.9	$	1,094.0	$	1,174.1	$	4,348.0
Gross profit	761.2		782.9		801.6		887.9		3,233.6
Net income (a)	249.7		242.3		274.7		280.2		1,046.9
Earnings per common share (a):
Basic	1.20		1.16		1.32		1.34		5.03
Diluted	1.18		1.14		1.30		1.32		4.93
Market price:
High	$	197.86	$	195.00	$	228.19	$	247.64	$	247.64
Low	140.86		165.69		183.01		213.23		140.86
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 (b)	206.6		282.7		225.9		7.0		722.2
Earnings per common share (b):
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

_______________________________________________________________________________

(a)

The first quarter of 2019 includes a $24.0 million charge related to the acquisition of early-stage transcatheter intellectual property and associated clinical and regulatory experience, the second and third quarters of 2019 include a $46.2 million and $26.9 million charge, respectively, related to the write off of inventory, and the fourth quarter of 2019 includes a $40.6 million charge related to the impairment of certain in-process research and development assets.

(b)

The fourth quarter of 2018 includes a $116.2 million charge related to the impairment of certain developed technology and in-process research and development assets and a $180.0 million charge related to a litigation settlement.