Quarterly Financial Data

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

21. Quarterly Financial Data

Unaudited
(In millions, except per share amounts)

2019	1^st		2^nd		3^rd		4^th		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	1^st			2^nd		3^rd		4^th		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.