Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2020

QUARTERLY FINANCIAL DATA (unaudited)

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		Second Quarter (2)		Third Quarter (3)		Fourth Quarter(4)
Year Ended December 31, 2020
Net sales	$	1,341.0	$	1,219.1	$	1,213.7	$	1,289.5
Gross profit	$	483.2	$	434.7	$	428.1	$	469.2
Change in financial assets	$	(1.6)	$	(2.1)	$	(22.2)	$	122.3
Net income (loss)	$	106.4	$	60.6	$	(154.6)	$	(175.0)
Earnings (loss) per share(1):
Basic	$	0.78	$	0.44	$	(1.13)	$	(1.29)
Diluted	$	0.77	$	0.44	$	(1.13)	$	(1.29)
Weighted average shares outstanding:
Basic	136.2		136.4		136.5		135.4
Diluted	137.3		137.5		136.5		135.4

(1) The sum of individual per share amounts may not equal due to rounding.

(2) Includes Rosemont Pharmaceuticals business pre-tax loss of $21.1 million.

(3) Includes impairment charges of $202.4 million, change in financial assets of $22.2 million and loss on early debt extinguishment of $20.0 million.

(4) Includes change in financial assets of $122.3 million and impairment charges of $144.4 million.


	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.