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Selected Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited)
(dollars in millions, except per share data)

Selected quarterly operating results for each quarter of fiscal 2018 and 2017 for TimkenSteel are as follows:
 
Quarters Ended
 
December 31
 
September 30
 
June 30
 
March 31
2018
 
 
 
 
 
 
 
Net Sales

$406.4

 

$409.9

 

$413.5

 

$380.8

Gross Profit
27.1

 
24.6

 
32.1

 
21.1

Net Income (Loss) (2)
(39.6
)
 
1.4

 
8.4

 
(1.9
)
Per Share Data: (1) 
 
 
 
 
 
 
 
Basic earnings (loss) per share

($0.89
)
 

$0.03

 

$0.19

 

($0.04
)
Diluted earnings (loss) per share

($0.89
)
 

$0.03

 

$0.19

 

($0.04
)
 
Quarters Ended
 
December 31
 
September 30
 
June 30
 
March 31
2017
 
 
 
 
 
 
 
Net Sales

$341.4

 

$339.1

 

$339.3

 

$309.4

Gross Profit
8.5

 
18.5

 
23.8

 
17.0

Net Income (Loss) (3)
(33.9
)
 
(5.9
)
 
1.3

 
(5.3
)
Per Share Data: (1) 
 
 
 
 
 
 
 
Basic earnings (loss) per share

($0.76
)
 

($0.13
)
 

$0.03

 

($0.12
)
Diluted earnings (loss) per share

($0.76
)
 

($0.13
)
 

$0.03

 

($0.12
)
(1) Basic and diluted earnings per share are computed independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the year. See “Note 10 - Earnings Per Share” in the Notes to the Consolidated Financial Statements.
(2) Net income (loss) for the third quarter of 2018 had executive severance cost of $1.7 million. Net income (loss) for the fourth quarter of 2018 included loss from remeasurement of benefit plans of $43.5 million.
(3) Net income (loss) for the third and fourth quarter of 2017 included remeasurement loss of benefit plans of $2.3 million and $19.5 million, respectively.