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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data | 21. Quarterly Financial Data
Unaudited |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In millions, except per share amounts) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  | 1st |  |  | 2nd |  |  | 3rd |  |  | 4th |  |  |  | Full Year |
Net sales |  | $ | 1,327.9 |  |  | $ | 1,507.2 |  |  | $ | 1,459.0 |  |  | $ | 1,470.5 |  |  |  | $ | 5,764.6 |
Gross profit |  |  | 458.8 |  |  |  | 537.6 |  |  |  | 524.2 |  |  |  | 531.8 |  |  |  |  | 2,052.4 |
Operating income |  |  | 135.6 |  |  |  | 202.4 |  |  |  | 168.0 |  |  |  | 192.5 |  |  |  |  | 698.5 |
Income from continuing operations, net of tax |  |  | 84.5 |  |  |  | 137.1 |  |  |  | 105.7 |  |  |  | 104.0 |  |  |  |  | 431.3 |
Income (loss) from discontinued operations, net of tax |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | — |
Net income |  |  | 84.5 |  |  |  | 137.1 |  |  |  | 105.7 |  |  |  | 104.0 |  |  |  |  | 431.3 |
Net income attributable to Fortune Brands |  |  | 84.7 |  |  |  | 137.5 |  |  |  | 105.6 |  |  |  | 104.1 |  |  |  |  | 431.9 |
Basic earnings (loss) per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  |  | 0.60 |  |  |  | 0.98 |  |  |  | 0.76 |  |  |  | 0.75 |  |  |  |  | 3.09 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | — |
Net income attributable to Fortune Brands |  |  | 0.60 |  |  |  | 0.98 |  |  |  | 0.76 |  |  |  | 0.75 |  |  |  |  | 3.09 |
Diluted earnings (loss) per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  |  | 0.60 |  |  |  | 0.97 |  |  |  | 0.75 |  |  |  | 0.74 |  |  |  |  | 3.06 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | — |
Net income attributable to Fortune Brands |  |  | 0.60 |  |  |  | 0.97 |  |  |  | 0.75 |  |  |  | 0.74 |  |  |  |  | 3.06 |
2018 |  | 1st |  |  | 2nd |  |  | 3rd |  |  | 4th |  |  |  | Full Year |
Net sales |  | $ | 1,254.6 |  |  | $ | 1,429.0 |  |  | $ | 1,380.8 |  |  | $ | 1,420.7 |  |  |  | $ | 5,485.1 |
Gross profit |  |  | 439.6 |  |  |  | 524.1 |  |  |  | 493.9 |  |  |  | 501.8 |  |  |  |  | 1,959.4 |
Operating income |  |  | 119.4 |  |  |  | 188.6 |  |  |  | 147.1 |  |  |  | 140.1 |  |  |  |  | 595.2 |
Income from continuing operations, net of tax |  |  | 75.1 |  |  |  | 129.7 |  |  |  | 99.9 |  |  |  | 85.3 |  |  |  |  | 390.0 |
Income (loss) from discontinued operations, net of tax |  |  | (0.2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | (0.2 | )
Net income |  |  | 74.9 |  |  |  | 129.7 |  |  |  | 99.9 |  |  |  | 85.3 |  |  |  |  | 389.8 |
Net income attributable to Fortune Brands |  |  | 75.0 |  |  |  | 129.6 |  |  |  | 99.8 |  |  |  | 85.2 |  |  |  |  | 389.6 |
Basic earnings (loss) per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  |  | 0.50 |  |  |  | 0.89 |  |  |  | 0.70 |  |  |  | 0.60 |  |  |  |  | 2.69 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | — |
Net income attributable to Fortune Brands |  |  | 0.50 |  |  |  | 0.89 |  |  |  | 0.70 |  |  |  | 0.60 |  |  |  |  | 2.69 |
Diluted earnings (loss) per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  |  | 0.49 |  |  |  | 0.88 |  |  |  | 0.69 |  |  |  | 0.60 |  |  |  |  | 2.66 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | — |
Net income attributable to Fortune Brands |  |  | 0.49 |  |  |  | 0.88 |  |  |  | 0.69 |  |  |  | 0.60 |  |  |  |  | 2.66 |
In 2019, we recorded pre-tax defined benefit plan actuarial loss of $34.1 million—$2.1 million of actuarial loss ($1.6 million after tax) in the third quarter and $32.0 million of actuarial losses ($24.2 million after tax) in the fourth quarter. In 2018, we recorded pre-tax defined benefit plan actuarial loss of $3.8 million—$0.3 million of actuarial loss ($0.2 million after tax) in the third quarter and $3.5 million of actuarial losses ($2.8 million after tax) in the fourth quarter.

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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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