Quarterly Financial Data

12 Months Ended

Dec. 31, 2015

19. Quarterly Financial Data

Unaudited

(In millions, except per share amounts)



2015	1^st			2^nd		3^rd		4^th		Full Year
Net sales	$	950.8		$	1,165.1	$	1,238.8	$	1,224.7	$	4,579.4
Gross profit		316.9			410.4		434.5		420.1		1,581.9
Operating income		67.3			128.2		160.3		140.3		496.1
Income from continuing operations, net of tax		40.9			78.0		100.0		87.6		306.5
Income (loss) from discontinued operations, net of tax		(0.6	)		1.4		7.8		0.4		9.0
Net income		40.3			79.4		107.8		88.0		315.5
Net income attributable to Fortune Brands		40.0			79.7		107.5		87.8		315.0
Basic earnings (loss) per common share
Continuing operations		0.26			0.49		0.62		0.55		1.92
Discontinued operations		(0.01	)		0.01		0.05		—		0.05
Net income attributable to Fortune Brands		0.25			0.50		0.67		0.55		1.97
Diluted earnings (loss) per common share
Continuing operations		0.25			0.48		0.61		0.54		1.88
Discontinued operations		—			0.01		0.05		—		0.05
Net income attributable to Fortune Brands		0.25			0.49		0.66		0.54		1.93



2014	1^st			2^nd		3^rd			4^th			Full Year
Net sales	$	889.1		$	1,027.2	$	1,057.7		$	1,039.6		$	4,013.6
Gross profit		295.3			361.8		368.0			341.8			1,366.9
Operating income		69.3			125.5		129.5			79.2			403.5
Income from continuing operations, net of tax		46.3			86.3		84.5			56.5			273.6
Income (loss) from discontinued operations, net of tax		(5.1	)		7.3		(105.4	)		(11.1	)		(114.3	)
Net income		41.2			93.6		(20.9	)		45.4			159.3
Net income attributable to Fortune Brands		40.8			93.3		(21.1	)		45.1			158.1
Basic earnings (loss) per common share
Continuing operations		0.28			0.52		0.53			0.36			1.68
Discontinued operations		(0.03	)		0.05		(0.66	)		(0.07	)		(0.70	)
Net income attributable to Fortune Brands		0.25			0.57		(0.13	)		0.29			0.98
Diluted earnings (loss) per common share
Continuing operations		0.27			0.51		0.52			0.35			1.64
Discontinued operations		(0.03	)		0.04		(0.65	)		(0.07	)		(0.69	)
Net income attributable to Fortune Brands		0.24			0.55		(0.13	)		0.28			0.95

In 2015, we recorded pre-tax defined benefit plan actuarial losses of $2.5 million — $2.8 million ($1.8 million after tax or $0.01 million per diluted share) in the third quarter, and $(0.3) million ($(0.2) million after tax or zero per diluted share) in the fourth quarter.

In 2014, we recorded pre-tax defined benefit plan actuarial losses of $13.7 million—$0.6 million ($0.4 million after tax or zero per diluted share) in the first quarter, $1.1 million ($0.7 million after tax or $0.01 million per diluted share) in the third quarter, and $12.0 million ($7.6 million after tax or $0.04 per diluted share) in the fourth quarter.