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Quarterly Financial Data (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Financial Information

The following table presents unaudited quarterly consolidated operating results for each of our last eight quarters. The information below has been prepared on a basis consistent with our audited consolidated financial statements (in millions, except per share amounts):
 
First
Quarter(2)
 
Second
Quarter (3)
 
Third
Quarter (4)
 
Fourth
Quarter(5)
Year Ended December 31, 2019
 
 
 
 
 
 
 
Net sales
$
1,174.5

 
$
1,149.0

 
$
1,191.1

 
$
1,322.8

Gross profit
$
448.8

 
$
430.8

 
$
412.8

 
$
480.9

Change in financial assets
$
(10.4
)
 
$
(5.5
)
 
$
(2.6
)
 
$
(3.6
)
Net income (loss)
$
63.9

 
$
9.0

 
$
92.2

 
$
(19.0
)
Earnings (loss) per share(1):
 
 
 
 
 
 
 
Basic
$
0.47

 
$
0.07

 
$
0.68

 
$
(0.14
)
Diluted
$
0.47

 
$
0.07

 
$
0.67

 
$
(0.14
)
Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
135.9

 
136.0

 
136.0

 
136.1

Diluted
136.2

 
136.5

 
136.8

 
137.0


(1)    The sum of individual per share amounts may not equal due to rounding.
(2)
Includes change in financial assets of $10.4 million.
(3)
Includes impairment charges of $27.8 million and restructuring charges and other termination benefits of $12.2 million.
(4) Includes animal health divestiture pre-tax gain of $71.7 million, Ranitidine market withdrawal charges of $18.4 million, acquisition-related charges and contingent consideration adjustments of $18.1 million, and impairment charges of $10.9 million.
(5) Includes impairment charges of $141.6 million.
 
First
Quarter
 
Second
Quarter (2)
 
Third
Quarter (3)
 
Fourth
Quarter
Year Ended December 31, 2018
 
 
 
 
 
 
 
Net sales
$
1,217.0

 
$
1,186.4

 
$
1,133.1

 
$
1,195.2

Gross profit
$
492.7

 
$
471.0

 
$
424.8

 
$
443.0

Change in financial assets
$
9.6

 
$
(0.6
)
 
$
(74.9
)
 
$
(122.8
)
Net income (loss)
$
80.8

 
$
36.2

 
$
(67.5
)
 
$
81.5

Earnings (loss) per share(1):
 
 
 
 
 
 
 
Basic
$
0.57

 
$
0.26

 
$
(0.49
)
 
$
0.60

Diluted
$
0.57

 
$
0.26

 
$
(0.49
)
 
$
0.60

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
140.8

 
138.1

 
137.4

 
135.9

Diluted
141.4

 
138.7

 
137.4

 
136.3



(1)    The sum of individual per share amounts may not equal due to rounding.
(2)
Includes acquisition-related charges and contingent consideration adjustments of $53.2 million.
(3)
Includes impairment charges of $221.8 million and restructuring charges and other termination benefits of $18.0 million.