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Selected Quarterly Financial Information (unaudited) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Information (unaudited) | Selected Quarterly Financial Information (unaudited): The following tables provide information on Net sales, Gross profit, Net income, Earnings per share and Cash dividends declared per share by quarter (in millions, except per share data):
| Net Sales (1) |  | Gross Profit (1) |  | Net Income (1)
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
First Quarter | $ | 834.8 |  |  | $ | 793.4 |  |  | $ | 223.2 |  |  | $ | 210.9 |  |  | $ | 37.9 |  |  | $ | 43.5 |
Second Quarter | 1,175.4 |  |  | 1,102.1 |  |  | 361.6 |  |  | 340.8 |  |  | 137.6 |  |  | 115.5 |
Third Quarter | 1,030.2 |  |  | 1,052.3 |  |  | 301.9 |  |  | 313.7 |  |  | 108.0 |  |  | 103.5 |
Fourth Quarter | 843.6 |  |  | 891.8 |  |  | 224.5 |  |  | 259.8 |  |  | 75.6 |  |  | 43.1 |
| Basic Earnings per Share (2) |  | Diluted Earnings per Share (2) |  | Cash Dividends per Common Share
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
First Quarter | $ | 0.91 |  |  | $ | 1.02 |  |  | $ | 0.90 |  |  | $ | 1.00 |  |  | $ | 0.51 |  |  | $ | 0.43 |
Second Quarter | 3.38 |  |  | 2.73 |  |  | 3.35 |  |  | 2.69 |  |  | 0.64 |  |  | 0.51 |
Third Quarter | 2.68 |  |  | 2.47 |  |  | 2.65 |  |  | 2.44 |  |  | 0.64 |  |  | 0.51 |
Fourth Quarter | 1.89 |  |  | 1.03 |  |  | 1.87 |  |  | 1.02 |  |  | 0.64 |  |  | 0.51 |
(1) The sum of the quarterly results for each of the four quarters may not equal the full year results due to rounding. (2) EPS for each quarter is computed using the weighted-average number of shares outstanding during that quarter, while EPS for the fiscal year is computed using the weighted-average number of shares outstanding during the year. Thus, the sum of the EPS for each of the four quarters may not equal the EPS for the fiscal year. Summary of 2018 Quarterly Results The following unusual or infrequent pre-tax items were included in the 2018 quarterly results: 1st Quarter. During the first quarter of 2018, we obtained board approval and signed an agreement with Beijer Ref AB, a Stockholm Stock Exchange-listed company, for the sale of our Australia and Asia business. 2nd Quarter. We completed the sale to Beijer Ref AB of our Australia and Asia business and sold our Milperra property. We obtained board approval and signed an agreement with Elgin SA, a private Brazilian company, for the sale of our South America business. Refer to Note 17 for details regarding the divestiture. 3rd Quarter. We completed the sale to Elgin SA of our South America business. Our manufacturing facility in Marshalltown, Iowa was severely damaged by a tornado. Refer to Note 17 for details regarding the divestiture and Note 11 for details related to the tornado damage. 4th Quarter. We recorded gains from insurance recoveries related to our Marshalltown facility, refer to Note 11 for further details. Summary of 2017 Quarterly Results The following unusual or infrequent pre-tax items were included in the 2017 quarterly results: 1st Quarter. No significant unusual or infrequent items. 2nd Quarter. No significant unusual or infrequent items. 3rd Quarter. No significant unusual or infrequent items. 4th Quarter. As a result of recent tax legislation, we recorded a one-time charge of $31.8 million in the fourth quarter to revalue our deferred tax assets and liabilities.

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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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