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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data | 19. Quarterly Financial Data
Unaudited |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In millions, except per share amounts) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | 1st |  |  | 2nd |  |  | 3rd |  |  | 4th |  |  |  | Full Year |
Net sales |  | $ | 1,402.7 |  |  | $ | 1,375.8 |  |  | $ | 1,652.1 |  |  | $ | 1,659.7 |  |  |  | $ | 6,090.3 |
Gross profit |  |  | 493.2 |  |  |  | 482.9 |  |  |  | 580.6 |  |  |  | 607.7 |  |  |  |  | 2,164.4 |
Operating income |  |  | 155.0 |  |  |  | 173.0 |  |  |  | 240.2 |  |  |  | 233.2 |  |  |  |  | 801.4 |
Income after tax |  |  | 109.1 |  |  |  | 118.2 |  |  |  | 168.2 |  |  |  | 166.5 |  |  |  |  | 562.0 |
Equity in losses of affiliate |  |  | 0.3 |  |  |  | 2.0 |  |  |  | 2.4 |  |  |  | 2.9 |  |  |  |  | 7.6 |
Net income |  |  | 108.8 |  |  |  | 116.2 |  |  |  | 165.8 |  |  |  | 163.6 |  |  |  |  | 554.4 |
Net income attributable to Fortune Brands |  |  | 109.1 |  |  |  | 115.8 |  |  |  | 164.6 |  |  |  | 163.6 |  |  |  |  | 553.1 |
Basic earnings per common share |  |  | 0.78 |  |  |  | 0.84 |  |  |  | 1.19 |  |  |  | 1.18 |  |  |  |  | 3.99 |
Diluted earnings per common share |  |  | 0.77 |  |  |  | 0.83 |  |  |  | 1.17 |  |  |  | 1.16 |  |  |  |  | 3.94 |
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 after tax |  |  | 84.5 |  |  |  | 137.1 |  |  |  | 105.7 |  |  |  | 104.0 |  |  |  |  | 431.3 |
Equity in losses of affiliate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  | — |
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 per common share |  |  | 0.60 |  |  |  | 0.98 |  |  |  | 0.76 |  |  |  | 0.75 |  |  |  |  | 3.09 |
Diluted earnings per common share |  |  | 0.60 |  |  |  | 0.97 |  |  |  | 0.75 |  |  |  | 0.74 |  |  |  |  | 3.06 |
In 2020, we recorded pre-tax defined benefit plan actuarial loss and settlement loss of $3.2 million —$0.6 million of actuarial loss ($0.4 million after tax) in the third quarter and $2.6 million of actuarial loss and settlement loss ($2.4 million after tax) in the fourth quarter. 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 loss ($24.2 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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