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QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED) | 12 Months Ended
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Dec. 31, 2020
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)
2020 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,128.7 |  |  | $ | 925.0 |  |  | $ | 1,140.9 |  |  | $ | 1,191.7 |  |  | $ | 4,386.3 |
Gross profit | 863.6 |  |  | 686.8 |  |  | 859.9 |  |  | 895.4 |  |  | 3,305.7 |
Net income (loss) (a) | 310.6 |  |  | (121.9) |  |  | 325.2 |  |  | 309.5 |  |  | 823.4 |
Earnings (loss) per common share (a): |  |  |  |  |  |  |  |  |
Basic | 0.50 |  |  | (0.20) |  |  | 0.52 |  |  | 0.50 |  |  | 1.32 |
Diluted | 0.49 |  |  | (0.20) |  |  | 0.52 |  |  | 0.49 |  |  | 1.30 |
Market price: |  |  |  |  |  |  |  |  |
High | $ | 81.90 |  |  | $ | 78.43 |  |  | $ | 87.79 |  |  | $ | 92.08 |  |  | $ | 92.08 |
Low | 51.51 |  |  | 56.44 |  |  | 66.87 |  |  | 70.92 |  |  | 51.51 |
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 (b) | 249.7 |  |  | 242.3 |  |  | 274.7 |  |  | 280.2 |  |  | 1,046.9 |
Earnings per common share (b): |  |  |  |  |  |  |  |  |
Basic | 0.40 |  |  | 0.39 |  |  | 0.44 |  |  | 0.45 |  |  | 1.68 |
Diluted | 0.39 |  |  | 0.38 |  |  | 0.43 |  |  | 0.44 |  |  | 1.64 |
Market price: |  |  |  |  |  |  |  |  |
High | $ | 65.95 |  |  | $ | 65.00 |  |  | $ | 76.06 |  |  | $ | 82.55 |  |  | $ | 82.55 |
Low | 46.95 |  |  | 55.23 |  |  | 61.00 |  |  | 71.08 |  |  | 46.95 |
_______________________________________________________________________________ (a) The second quarter of 2020 includes a $367.9 million charge related to a litigation settlement. (b) 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. The fourth quarter of 2019 includes a $40.6 million charge related to the impairment of certain in-process research and development assets.

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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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