QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 28, 2014

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)



	First		Second		Third		Fourth		Total
	(in millions)
2014
Sales	$	3,422.1	$	3,814.0	$	3,702.3	$	4,092.9	$	15,031.3
Gross profit	396.7		468.5		454.0		456.4		1,775.6
Operating profit	196.4		260.2		250.1		224.9		931.6
Net income	105.3		142.9		155.3		152.6		556.1

2013 ⁽¹⁾
Sales	$	3,326.9	$	3,337.8	$	3,337.2	$	3,894.2	$	13,896.1
Gross profit	259.0		306.2		288.6		351.2		1,205.0
Operating profit	58.8		89.8		78.6		111.3		338.5
Net income	18.2		32.4		35.4		34.7		120.7

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⁽¹⁾	2013 represents the twelve months ended December 29, 2013.

The following significant infrequent or unusual items impacted our quarterly results in the twelve months ended December 29, 2013. There were no significant infrequent or unusual items that impacted our quarterly results in 2014.


•	Operating profit in the third and fourth quarters included professional fees related to the Merger of $18.0 million and $23.9 million, respectively.


•	Gross profit in the fourth quarter included $45.4 million of non-cash costs related to the fair value step-up of inventories due to the Merger.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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