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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (unaudited)
 
Quarterly results of operations for the years ended December 31, 2013 and 2012, which include Sealy's results of operations from March 18, 2013 through December 31, 2013, are summarized below:
(in millions, except per share amounts)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
2013
 
 
 
 
 
 
 
Net sales
$
390.1

 
$
660.6

 
$
735.5

 
$
678.1

Gross profit
188.4

 
254.9

 
298.7

 
272.9

Operating income
44.5

 
44.0

 
81.2

 
74.1

Net income (loss)
12.5

 
(1.6
)
 
40.2

 
27.5

Basic earnings (loss) per common share
$
0.21

 
$
(0.03
)
 
$
0.66

 
$
0.45

Diluted earnings (loss) per common share
$
0.20

 
$
(0.03
)
 
$
0.65

 
$
0.45

 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
Net sales
$
384.4

 
$
329.5

 
$
347.9

 
$
341.1

Gross profit
205.9

 
166.9

 
171.2

 
170.6

Operating income
86.1

 
47.5

 
63.4

 
51.3

Net income
56.2

 
29.1

 
(2.0
)
 
23.5

Basic earnings (loss) per common share
$
0.88

 
$
0.46

 
$
(0.03
)
 
$
0.39

Diluted earnings (loss) per common share
$
0.86

 
$
0.45

 
$
(0.03
)
 
$
0.39


 
The sum of the quarterly earnings per common share amounts may not equal the annual amount reported because per share amounts are computed independently for each quarter and for the full year based on respective weighted-average common shares outstanding and other dilutive potential common shares. The Company’s quarterly operating results fluctuate as a result of seasonal variations in the Company’s business. Additionally, the Company's earnings were negatively impacted in the second quarter of 2013, primarily due to the Sealy Acquisition and associated transaction fees.