Quarterly Financial Data

12 Months Ended

Dec. 31, 2017

Quarterly Financial Data

19.    Quarterly Financial Data

Unaudited

(In millions, except per share amounts)

2017	1st		2nd			3rd		4th		Full Year
Net sales	$	1,186.8	$	1,365.4		$	1,348.6	$	1,382.5	$	5,283.3
Gross profit		417.0		515.5			507.0		493.0		1,932.5
Operating income		114.9		212.4			201.8		163.0		692.1
Income from continuing operations, net of tax		77.4		140.3			129.6		128.0		475.3
Income (loss) from discontinued operations, net of tax		—		(2.6	)		—		—		(2.6	)
Net income		77.4		137.7			129.6		128.0		472.7
Net income attributable to Fortune Brands		77.4		137.7			129.5		128.0		472.6
Basic earnings (loss) per common share
Continuing operations		0.50		0.91			0.84		0.84		3.10
Discontinued operations		—		(0.02	)		—		—		(0.02	)
Net income attributable to Fortune Brands		0.50		0.89			0.84		0.84		3.08
Diluted earnings (loss) per common share
Continuing operations		0.50		0.90			0.83		0.83		3.05
Discontinued operations		—		(0.02	)		—		—		(0.02	)
Net income attributable to Fortune Brands		0.50		0.88			0.83		0.83		3.03

2016	1st(a)		2nd		3rd		4th			Full Year
Net sales	$	1,106.5	$	1,297.8	$	1,279.0	$	1,301.6		$	4,984.9
Gross profit		377.8		474.7		478.0		474.1			1,804.6
Operating income		95.5		187.7		183.1		166.4			632.7
Income from continuing operations, net of tax		61.0		125.1		121.9		104.4			412.4
Income (loss) from discontinued operations, net of tax		—		—		1.5		(0.7	)		0.8
Net income		61.0		125.1		123.4		103.7			413.2
Net income attributable to Fortune Brands		61.0		125.2		123.4		103.6			413.2
Basic earnings (loss) per common share
Continuing operations		0.39		0.82		0.79		0.68			2.67
Discontinued operations		—		—		0.01		(0.01	)		0.01
Net income attributable to Fortune Brands		0.39		0.82		0.80		0.67			2.68
Diluted earnings (loss) per common share
Continuing operations		0.38		0.80		0.77		0.67			2.61
Discontinued operations		—		—		0.01		(0.01	)		0.01
Net income attributable to Fortune Brands		0.38		0.80		0.78		0.66			2.62

(a) Amounts revised to reflect adoption of ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting.”

In 2017, we recorded pre-tax defined benefit plan actuarial gains of $0.5 million — $1.3 million of actuarial gains ($0.9 million after tax) in the third quarter and ($0.8) million of actuarial losses (($0.5) million after tax) in the fourth quarter.

In 2016, we recorded pre-tax defined benefit plan actuarial losses of $1.9 million — $0.9 million ($0.6 million after tax) in the first quarter and $1.0 million ($0.7 million after tax) in the third quarter.