Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

19. Quarterly Financial Data

Unaudited

(In millions, except per share amounts)



2014	1^st			2^nd		3^rd			4^th			Full Year
Net sales	$	889.1		$	1,027.2	$	1,057.7		$	1,039.6		$	4,013.6
Gross profit		295.3			361.8		368.0			341.8			1,366.9
Operating income		69.3			125.5		129.5			79.2			403.5
Net income from continuing operations		46.3			86.3		84.5			56.5			273.6
Net (loss) income from discontinued operations		(5.1	)		7.3		(105.4	)		(11.1	)		(114.3	)
Net income (loss)		41.2			93.6		(20.9	)		45.4			159.3
Net income (loss) attributable to Fortune Brands		40.8			93.3		(21.1	)		45.1			158.1
Basic earnings (loss) per common share
Continuing operations		0.28			0.52		0.53			0.36			1.68
Discontinued operations		(0.03	)		0.05		(0.66	)		(0.07	)		(0.70	)
Net income (loss) attributable to Fortune Brands		0.25			0.57		(0.13	)		0.29			0.98
Diluted earnings (loss) per common share
Continuing operations		0.27			0.51		0.52			0.35			1.64
Discontinued operations		(0.03	)		0.04		(0.65	)		(0.07	)		(0.69	)
Net income (loss) attributable to Fortune Brands		0.24			0.55		(0.13	)		0.28			0.95



2013	1^st			2^nd		3^rd		4^th		Full Year
Net sales	$	813.3		$	922.1	$	1,003.6	$	964.6	$	3,703.6
Gross profit		275.1			337.3		348.5		334.2		1,295.1
Operating income		57.2			94.6		89.3		81.9		323.0
Net income from continuing operations		38.4			56.8		59.0		54.8		209.0
Net income from discontinued operations		(0.9	)		7.4		5.6		9.8		21.9
Net income		37.5			64.2		64.6		64.6		230.9
Net income attributable to Fortune Brands		37.3			64.0		64.2		64.2		229.7
Basic earnings per common share
Continuing operations		0.23			0.34		0.35		0.33		1.26
Discontinued operations		—			0.05		0.04		0.06		0.13
Net income attributable to Fortune Brands		0.23			0.39		0.39		0.39		1.39
Diluted earnings per common share
Continuing operations		0.22			0.33		0.34		0.32		1.34
Discontinued operations		—			0.04		0.03		0.05		0.13
Net income attributable to Fortune Brands		0.22			0.37		0.37		0.37		1.34

In 2014, we recorded pre-tax defined benefit plan actuarial losses of $13.7 million — $0.6 million ($0.4 million after tax or zero per diluted share) in the first quarter, $1.1 million ($0.7 million after tax or $0.01 million per diluted share) in the third quarter, and a $12.0 million ($7.6 million after tax or $0.04 per diluted share) in the fourth quarter.

In 2013, we recorded pre-tax asset impairment charges in our Cabinets segment of $21.2 million ($13.8 million after tax or $0.08 per diluted share) associated with the abandonment of certain internal use software. We recorded pre-tax defined benefit plan actuarial losses of $5.2 million — $4.6 million ($3.1 million after tax or $0.02 per diluted share) in the first quarter, $0.7 million ($0.4 million after tax or zero per diluted share) in the second quarter, $0.3 million ($0.2 million after tax or zero per diluted share) in the third quarter and a gain of $0.4 million ($0.4 million after tax or zero per diluted share) in the fourth quarter.

- 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.

+ References+ Details