The following table presents quarterly financial information and per share data:



	First Quarter					Second Quarter				Third Quarter				Fourth Quarter
(In millions except per share amounts)	2018			2017		2018		2017		2018		2017		2018		2017
Sales	$	545		$	489	$	569	$	514	$	577	$	534	$	594	$	547
Gross profit	$	195		$	185	$	207	$	198	$	201	$	197	$	203	$	196
Operating income^(a)	$	88		$	94	$	100	$	100	$	102	$	87	$	105	$	113
Income before income taxes ^{(a) (b)}	$	84		$	110	$	94	$	109	$	97	$	94	$	57	$	177
Net (loss) income ^(c)	$	(10	)	$	72	$	67	$	71	$	64	$	56	$	45	$	105
Net (loss) income per common share ^(d)
Basic	$	(0.05	)	$	0.35	$	0.33	$	0.35	$	0.33	$	0.27	$	0.23	$	0.52
Diluted	$	(0.05	)	$	0.35	$	0.33	$	0.35	$	0.33	$	0.27	$	0.23	$	0.52

(a)

Operating and pre-tax income included Legacy and separation-related expenses, net of $6 million in the first fiscal quarter of 2017, $6 million in the second fiscal quarter of 2017, $13 million in the third fiscal quarter of 2017, $14 million of income in the fourth fiscal quarter of 2017, $9 million in the first fiscal quarter of 2018, $8 million in the second fiscal quarter of 2018, and $3 million of income in the third fiscal quarter of 2018.


(b)	Pre-tax income included pension and other postretirement benefit plan remeasurement gains of $8 million and $60 million in the first quarter of fiscal 2017 and the fourth quarter of fiscal 2017, respectively. Pre-tax income in the fourth quarter of fiscal 2018 includes pre-tax pension other postretirement plan remeasurement losses of $38 million.


(c)	Net (loss) income for fiscal 2018 includes additional income tax expense related to U.S. and Kentucky tax reform enacted during the year of $71 million in the first quarter of fiscal 2018, $2 million in the second fiscal quarter of 2018, $3 million in the third fiscal quarter of 2018, and $2 million in the fourth fiscal quarter of 2018.


(d)	Net (loss) income per share in each quarter is computed using the weighted average number of shares outstanding during that quarter while net income per share for the full year is computed using the weighted average number of shares outstanding during the year. Thus, the sum of the four quarters’ net (loss) income per share will not necessarily equal the full-year net income per share.