Selected Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information (unaudited)

Selected Quarterly Financial Information (unaudited):

The following tables provide information on Net sales, Gross profit, Net income, Earnings per share and Cash dividends declared per share by quarter (in millions, except per share data):

	Net Sales (1)				Gross Profit (1)				Net Income (Loss) (1)
	2016		2015		2016		2015		2016		2015
First Quarter	$	715.2	$	685.8	$	183.6	$	163.0	$	24.9	$	13.9
Second Quarter	1,019.2		992.5		315.0		283.4		110.7		81.2
Third Quarter	1,010.0		955.0		310.3		273.4		101.7		80.3
Fourth Quarter	897.3		834.1		267.6		227.6		40.4		11.2

	Basic Earnings (Loss) per Share (2)				Diluted Earnings (Loss) per Share (2)				Cash Dividends per Common Share
	2016		2015		2016		2015		2016		2015
First Quarter	$	0.57	$	0.31	$	0.56	$	0.31	$	0.36	$	0.30
Second Quarter	2.54		1.80		2.51		1.78		0.43		0.36
Third Quarter	2.35		1.78		2.33		1.76		0.43		0.36
Fourth Quarter	0.94		0.25		0.93		0.25		0.43		0.36

⁽¹⁾ The sum of the quarterly results for each of the four quarters may not equal the full year results due to rounding.

⁽²⁾ EPS for each quarter is computed using the weighted-average number of shares outstanding during that quarter, while EPS for the fiscal year is computed using the weighted-average number of shares outstanding during the year. Thus, the sum of the EPS for each of the four quarters may not equal the EPS for the fiscal year.

Summary of 2016 Quarterly Results

The following unusual or infrequent pre-tax items were included in the 2016 quarterly results:

1st Quarter. No significant unusual or infrequent items.

2nd Quarter. No significant unusual or infrequent items.

3rd Quarter. No significant unusual or infrequent items.

4th Quarter. As part of our ongoing strategy to de-risk our pension plan obligations, we completed a one-time, lump sum pension buyout in the fourth quarter of 2016 for certain vested participants. As a result of the pension buy-out, we recorded a pension settlement charge of $31 million in the fourth quarter.

Summary of 2015 Quarterly Results

The following unusual or infrequent pre-tax items were included in the 2015 quarterly results:

1st Quarter. No significant unusual or infrequent items.

2nd Quarter. No significant unusual or infrequent items.

3rd Quarter. No significant unusual or infrequent items.

4th Quarter. We recorded goodwill impairment and asset impairment charges of $5.5 million and $44.5 million, respectively, to our North American supermarket display case business. Refer to Notes 4 and 5 for more information related to our impairment charges.