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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Data |
Quarterly Financial Data | ​
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Note 16 - Quarterly Financial Data (unaudited) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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​ | ​ | 1st | ​ | 2nd | ​ | 3rd | ​ | 4th | ​ | Total for | ​
(Millions of dollars except per share amounts) |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | the Year | ​
2019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 1,543 | ​ | $ | 1,822 | ​ | $ | 1,663 | ​ | $ | 1,812 | (a) | $ | 6,840 | ​
Operating income (loss) | ​ | $ | (34) | ​ | $ | 53 | ​ | $ | (6) | ​ | $ | 91 | (a) | $ | 104 | ​
Net earnings (loss) attributable to Seaboard | ​ | $ | 57 | ​ | $ | 58 | ​ | $ | (7) | ​ | $ | 175 | (a) | $ | 283 | ​
Earnings (loss) per common share | ​ | $ | 48.79 | ​ | $ | 50.13 | ​ | $ | (6.00) | ​ | $ | 149.91 | (a) | $ | 242.78 | ​
2018 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 1,579 | ​ | $ | 1,691 | ​ | $ | 1,651 | ​ | $ | 1,662 | ​ | $ | 6,583 | ​
Operating income | ​ | $ | 97 | ​ | $ | 32 | ​ | $ | 37 | ​ | $ | 43 | ​ | $ | 209 | ​
Net earnings (loss) attributable to Seaboard | ​ | $ | 32 | ​ | $ | 7 | ​ | $ | 35 | ​ | $ | (91) | (b) | $ | (17) | ​
Earnings (loss) per common share | ​ | $ | 26.75 | ​ | $ | 6.28 | ​ | $ | 29.93 | ​ | $ | (77.58) | (b) | $ | (14.61) | ​
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| (a) | During the fourth quarter of 2019, Seaboard recognized $60 million of net sales and operating income, or $51.14 per common share, as a result of the federal blender’s credits being extended retroactively for 2019 and 2018. See Note 14 for discussion on the federal blender’s credits.
| (b) | During the fourth quarter of 2018, Seaboard recorded other investment losses of $167 million primarily related to mark-to-market losses on short-term investments. As a comparison, other investment income of $73 million was recorded in the fourth quarter of 2019.

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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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