19. SELECTED QUARTERLY FINANCIAL DATA (unaudited)

The following table sets forth selected quarterly financial data for the years ended December 31, 2018 and 2017:



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2018
Net Sales	$	1,993,915	$	2,103,994	$	2,067,245	$	2,011,447
Cost of goods sold (excluding depreciation and amortization)	1,613,966		1,704,100		1,670,037		1,621,117
Income from operations	73,241		91,183		97,517		90,499
Income before income taxes	53,458		73,442		80,467		73,658
Net income	42,971		57,673		66,645		58,066
Net income attributable to WESCO International	44,421		57,940		66,849		58,133
Basic earnings per share attributable to WESCO International⁽²⁾	0.94		1.23		1.42		1.27
Diluted earnings per share attributable to WESCO International⁽³⁾	0.93		1.22		1.41		1.26

2017
Net Sales	$	1,772,591	$	1,909,624	$	2,000,159	$	1,996,647
Cost of goods sold (excluding depreciation and amortization)	1,422,573		1,543,510		1,614,814		1,613,469
Income from operations	67,089		83,105		89,250		81,446
Income before income taxes	50,368		66,289		71,939		63,844
Net income⁽¹⁾	37,800		49,535		53,576		22,222
Net income attributable to WESCO International⁽¹⁾	37,729		49,510		53,675		22,546
Basic earnings per share attributable to WESCO International^{(1) (2)}	0.77		1.03		1.13		0.48
Diluted earnings per share attributable to WESCO International^{(1) (3)}	0.76		1.02		1.12		0.47


⁽¹⁾	As described in Note 11, net income and net income attributable to WESCO International include provisional discrete income tax expense of $26.4 million resulting from the application of the TCJA, which affected basic and diluted earnings per share attributable to WESCO International in the fourth quarter of 2017.


⁽²⁾	Earnings per share (EPS) in each quarter is computed using the weighted-average number of shares outstanding during that quarter while EPS for the full year is computed by using the weighted-average number of shares outstanding during the year. Thus, the sum of the four quarters’ EPS may not equal the full-year EPS.


⁽³⁾	Diluted EPS in each quarter is computed using the weighted-average number of shares outstanding and common share equivalents during that quarter while diluted EPS for the full year is computed by using the weighted-average number of shares outstanding and common share equivalents during the year. Thus, the sum of the four quarters’ diluted EPS may not equal the full-year diluted EPS.