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Quarterly Results of Operations (unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (unaudited)
Quarterly Results of Operations (unaudited)
 
 
2018
 
 
First Quarter
 
Second Quarter (a)
 
Third Quarter (b)
 
Fourth Quarter (c)
 
 
(millions, except per-share amounts)
Net sales
 
$
1,182.8

 
$
1,408.1

 
$
1,338.5

 
$
1,065.8

Income (loss) from operations
 
$
51.8

 
$
74.1

 
$
30.5

 
$
(84.3
)
Net income (loss)
 
$
37.1

 
$
41.8

 
$
13.8

 
$
(72.2
)
Net income (loss) per common share – Basic
 
$
0.96

 
$
1.07

 
$
0.36

 
$
(1.85
)
Net income (loss) per common share – Diluted
 
$
0.94

 
$
1.06

 
$
0.35

 
$
(1.85
)

 
 
2017
 
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter (d)
 
 
(millions, except per-share amounts)
Net sales
 
$
974.4

 
$
1,138.9

 
$
1,226.6

 
$
1,092.0

Income from operations
 
$
21.1

 
$
42.5

 
$
56.1

 
$
21.7

Net income
 
$
10.0

 
$
22.2

 
$
31.7

 
$
19.1

Net income per common share – Basic
 
$
0.26

 
$
0.57

 
$
0.82

 
$
0.49

Net income per common share – Diluted
 
$
0.26

 
$
0.57

 
$
0.81

 
$
0.49


__________________ 

(a)
Second quarter 2018 results include $12.0 million of pre-tax losses, or $0.23 per share after-tax, from a non-cash pension settlement charge as discussed in Note 12, Retirement and Benefit Plans.

(b)
Third quarter 2018 results include $11.3 million of pre-tax losses, or $0.21 per share after-tax, from a non-cash pension settlement charge and $11.0 million of pre-tax losses, or $0.21 per share after-tax, from impairment losses on assets held for sale in Northeast Oregon. For additional information, see Note 12, Retirement and Benefit Plans and Note 7, Sale of Manufacturing Facilities.

(c)
Fourth quarter 2018 results include $57.8 million of pre-tax expenses, or $1.11 per share after-tax, for accelerated depreciation and other curtailment costs related to the permanent curtailment of LVL production at our Roxboro, North Carolina facility as discussed in Note 6, Curtailment of Manufacturing Facility. Fourth quarter 2018 also includes $24.0 million of pre-tax losses, or $0.46 per share after-tax, from an impairment loss and other sale related costs on our hardwood plywood facility in Moncure, North Carolina upon being classified as held for sale, as discussed in Note 7, Sale of Manufacturing Facilities.

(d)
Fourth quarter 2017 results include $8.1 million, or $0.21 per share, income tax benefit associated with the effects of the Tax Act discussed further in Note 4, Income Taxes.