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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Data
20.    Quarterly Financial Data
Unaudited
(In millions, except per share amounts)
 
      
2018
 
1
st
 
 
2
nd
 
 
3
rd
 
 
4
th
 
 
Full
Year
 
Net sales
 
$
1,254.6
 
 
$
1,429.0
 
 
$
1,380.8
 
 
$
1,420.7
 
 
$
5,485.1
 
Gross profit
 
 
439.6
 
 
 
524.1
 
 
 
493.9
 
 
 
501.8
 
 
 
1,959.4
 
Operating income
 
 
119.4
 
 
 
188.6
 
 
 
147.1
 
 
 
140.1
 
 
 
595.2
 
Income from continuing operations, net of tax
 
 
75.1
 
 
 
129.7
 
 
 
99.9
 
 
 
85.3
 
 
 
390.0
 
Income (loss) from discontinued operations, net of tax
 
 
(0.2
) 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
(0.2
) 
Net income
 
 
74.9
 
 
 
129.7
 
 
 
99.9
 
 
 
85.3
 
 
 
389.8
 
Net income attributable to Fortune Brands
 
 
75.0
 
 
 
129.6
 
 
 
99.8
 
 
 
85.2
 
 
 
389.6
 
Basic earnings (loss) per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
0.50
 
 
 
0.89
 
 
 
0.70
 
 
 
0.60
 
 
 
2.69
 
Discontinued operations
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
Net income attributable to Fortune Brands
 
 
0.50
 
 
 
0.89
 
 
 
0.70
 
 
 
0.60
 
 
 
2.69
 
Diluted earnings (loss) per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
0.49
 
 
 
0.88
 
 
 
0.69
 
 
 
0.60
 
 
 
2.66
 
Discontinued operations
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
Net income attributable to Fortune Brands
 
 
0.49
 
 
 
0.88
 
 
 
0.69
 
 
 
0.60
 
 
 
2.66
 
 
      
2017
 
1
st
 
 
2
nd
 
 
3
rd
 
 
4
th
 
 
Full
Year
 
Net sales
 
$
1,186.8
 
 
$
1,365.4
 
 
$
1,348.6
 
 
$
1,382.5
 
 
$
5,283.3
 
Gross profit
(a)
 
 
414.1
 
 
 
513.3
 
 
 
505.3
 
 
 
492.3
 
 
 
1,925.0
 
Operating income
(a)
 
 
111.0
 
 
 
209.2
 
 
 
199.5
 
 
 
162.8
 
 
 
682.5
 
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
 
 
(a)
Amounts revised to reflect adoption of ASU 
2017-07
 “Presentation of Net Periodic Pension and Postretirement Costs.”
In 2018, we recorded 
pre-tax
 defined benefit plan actuarial loss of $3.8 million—$0.3 million of actuarial loss ($0.2 million after tax) in the third quarter and $3.5 million of actuarial losses ($2.8 million after tax) in the fourth quarter.
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.