Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following is a summary of the quarterly results of operations for the years ended December 31, 2018 and 2017, respectively (in millions, except per share data):



2018	March 31		June 30			September 30⁽¹⁾			December 31			Full Year
Total revenue	$	1,172.0	$	1,212.2		$	1,146.0		$	1,165.8		$	4,696.0
Cost of goods sold	776.0		793.8			759.1			777.4			3,106.3
Income from operations	120.0		146.5			47.8			127.8			442.1
Net income (loss)	71.0		77.1			(11.6		)	76.8			213.3
Net income (loss) attributable to controlling interests	69.9		74.9			(13.1		)	75.4			207.1
Basic net income (loss) per share	$	0.29	$	0.31		$	(0.05	)	$	0.32		$	0.87
Diluted net income (loss) per share	$	0.28	$	0.31		$	(0.05	)	$	0.32		$	0.85

2017	March 31		June 30⁽²⁾			September 30			December 31⁽³⁾			Full Year
Total revenue	$	1,013.7	$	1,094.6		$	1,096.3		$	1,172.4		$	4,377.0
Cost of goods sold	641.4		690.0			702.5			746.6			2,780.5
Income from operations	110.4		47.5			103.9			101.9			363.7
Net income (loss)	65.9		(18.9		)	56.3			(55.6		)	47.7
Net income (loss) attributable to controlling interests	64.1		(20.8		)	54.9			(61.5		)	36.7
Basic net income (loss) per share	$	0.27	$	(0.09	)	$	0.23		$	(0.26	)	$	0.15
Diluted net income (loss) per share	$	0.26	$	(0.09	)	$	0.22		$	(0.26	)	$	0.15

(1) During the three months ended September 30, 2018, the Company announced the closure of the Mechelen, Belgium manufacturing facility and recorded severance costs of $70.6 million. See further discussion in Note 5.

(2) During the three months ended June 30, 2017, the Company recorded a loss in conjunction with the deconsolidation of its Venezuelan subsidiary of $70.9 million, based on its evaluation of the carrying value associated with our real estate investment in Venezuela. See further discussion in Note 21.

(3) During the three months ended December 31, 2017, the Company recorded a provisional net tax charge of $107.8 million ($112.5 million of net loss attributable to controlling interests) associated with the U.S. Tax Cuts and Jobs Act legislation, resulting primarily from the write-down of net deferred tax assets to the lower enacted U.S. corporate tax rate of 21.0%. The provisionally estimated net tax charge reflects Axalta's estimate of the new legislation’s impact, which may differ with further regulatory guidance and changes in our interpretations and assumptions.