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Quarterly Financial Information (unaudited)
12 Months Ended
Dec. 31, 2011
Quarterly Financial Information (unaudited) [Abstract]  
Quarterly Financial Information (unaudited)

23.    Quarterly Financial Information (unaudited):

Financial results

The following tables provide information on net sales, gross profit, net income, earnings per share and dividends per share by quarter (in millions, except per share data):

 

 

                                                 
    Net Sales     Gross Profit     Net (Loss)
Income
 
     2011(1)     2010(2)     2011(1)     2010(2)     2011(1)     2010(2)  

First Quarter

  $ 687.8     $ 644.1     $ 165.2     $ 174.3     $ (7.2   $ (1.6

Second Quarter

    937.0       872.1       247.6       264.7       45.0       48.3  

Third Quarter

    923.0       818.2       231.1       232.8       33.8       41.8  

Fourth Quarter

    755.8       762.0       189.7       220.0       16.7       27.7  
       
    Basic (Loss)
Earnings per
Common Share
    Diluted (Loss)
Earnings per
Common Share
    Dividends per
Common Share
 
     2011(1)     2010(2)     2011(1)     2010(2)     2011(1)     2010(2)  

First Quarter

  $ (0.13   $ (0.02   $ (0.13   $ (0.02   $ 0.18     $ 0.15  

Second Quarter

    0.85       0.88       0.83       0.86       0.18       0.15  

Third Quarter

    0.65       0.78       0.64       0.76       0.18       0.15  

Fourth Quarter

    0.33       0.52       0.32       0.51       0.18       0.15  

 

 

(1) The following unusual or infrequent pre-tax items were included in the 2011 quarterly results:

 

   

We recorded asset impairments of $7.0 million and goodwill impairment of $7.6 million in the fourth quarter of 2011. See Notes 5 and 6 for additional disclosure on these impairments.

   

We recorded restructuring charges through 2011 as follows: first quarter — $1.2 million, second quarter — $2.4 million, third quarter — $10.8 million and fourth quarter — $1.6 million.

 

(2) The following unusual or infrequent pre-tax items were included in the 2010 quarterly results:

 

   

We recorded an adjustment to pension cost in the fourth quarter which resulted in a reduction of pension cost by $4.1 million as compared to the prior year and by $3.5 million as compared to the third quarter.

  o We recorded restructuring charges throughout 2010 as follows: first quarter — $7.2 million, second quarter — $3.2 million, third quarter — $4.7 million and fourth quarter — $0.5 million.