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Selected Quarterly Data (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Results of Operations
The following table summarizes the quarterly results of operations, including income per share, for the Company for the quarterly periods of 2013 and 2012:
 
2013
 (in millions, except per share data)
March 31 (a)
 
June 30 (b)
 
September 30
 
December 31 (c)
Net sales
$
199.8

 
$
222.6

 
$
209.3

 
$
219.6

Gross profit
46.8

 
51.8

 
50.5

 
56.0

Income (loss) from continuing operations
(1.1
)
 
117.8

 
16.8

 
26.7

Gain (loss) from discontinued operations and disposal
0.5

 
(0.3
)
 
(0.8
)
 
0.4

Net income (loss)
(0.6
)
 
117.5

 
16.0

 
27.1

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
$
(0.02
)
 
$
1.87

 
$
0.26

 
$
0.42

Earnings (loss) from discontinued operations
0.01

 
—

 
(0.01
)
 
—

Net income (loss)
$
(0.01
)
 
$
1.87

 
$
0.25

 
$
0.42


(a)
(Loss) from continuing operations includes $8.7 million of debt settlement charges associated with the Company's debt refinancing in March 2013.
(b)
Income from continuing operations includes $102.4 million of valuation allowance release and income of $0.6 million associated with restructuring activity.
(c)
Income from continuing operations includes a tax benefit of $6.7 million associated with the release of valuation allowance previously recorded against the Company’s foreign tax credits, which would have begun to expire in 2015, following the completion of a tax planning strategy, as well as $1.2 million of restructuring charges.
 
2012
 (in millions, except per share data)
March 31 (a)
 
June 30
 
September 30 (b)
 
December 31 (c)
Net sales
$
196.1

 
$
204.4

 
$
185.0

 
$
217.7

Gross profit
45.3

 
49.2

 
45.6

 
49.7

Income from continuing operations
3.1

 
9.6

 
4.4

 
4.9

Loss from discontinued operations and disposal
(4.2
)
 
(26.1
)
 
(19.1
)
 
(0.1
)
Net (loss) income
(1.1
)
 
(16.5
)
 
(14.7
)
 
4.8

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Earnings from continuing operations
$
0.05

 
$
0.15

 
$
0.07

 
$
0.08

Earnings (loss) from discontinued operations
(0.07
)
 
(0.41
)
 
(0.31
)
 
—

Net (loss) income
$
(0.02
)
 
$
(0.26
)
 
$
(0.24
)
 
$
0.08


(a)
Income from continuing operations includes $1.6 million of debt settlement charges associated with a prior debt refinancing and $0.9 million of restructuring charges.
(b)
Income from continuing operations includes $1.9 million of debt settlement charges associated with a prior debt refinancing.
(c)
Income from continuing operations includes $0.6 million of restructuring charges.