Schedule of Quarterly Financial Information |
These tables summarize the unaudited results of operations for each quarter of fiscal years 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | 2018 | Q1 | | Q2 | | Q3 | | Q4 | | Total | | Sales |
| $2,216.6 |
| |
| $2,155.7 |
| |
| $2,259.0 |
| |
| $2,298.9 |
| |
| $8,930.2 |
| | Gross profit | 644.8 |
| | 649.2 |
| | 713.6 |
| | 733.1 |
| | 2,740.7 |
| | Operating income | 460.7 |
| | 455.4 |
| | 515.8 |
| | 533.7 |
| | 1,965.6 |
| | Equity affiliates income | 13.8 |
| (A) | 43.7 |
| | 58.1 |
| | 59.2 |
| (A) | 174.8 |
| (A) | Income tax provision | 291.8 |
| (A) | 56.2 |
| (B) | 107.1 |
| | 69.2 |
| (A)(B) | 524.3 |
| (A)(B) | Net income | 161.7 |
| | 423.6 |
| | 487.9 |
| | 459.7 |
| | 1,532.9 |
| | Net income attributable to Air Products | | | | | | | | | | | Income from continuing operations | 155.6 |
| | 416.4 |
| | 430.7 |
| | 452.9 |
| | 1,455.6 |
| | Income (Loss) from discontinued operations | (1.0 | ) | | — |
| | 43.2 |
| (C) | — |
| | 42.2 |
| (C) | Net income attributable to Air Products | 154.6 |
| | 416.4 |
| | 473.9 |
| | 452.9 |
| | 1,497.8 |
| | Basic Earnings Per Common Share Attributable to Air Products | | | | | | | | | | | Income from continuing operations | .71 |
| | 1.90 |
| | 1.96 |
| | 2.06 |
| | 6.64 |
| | Income from discontinued operations | — |
| | — |
| | .20 |
| | — |
| | .19 |
| | Net income attributable to Air Products | .71 |
| | 1.90 |
| | 2.16 |
| | 2.06 |
| | 6.83 |
| | Diluted Earnings Per Common Share Attributable to Air Products | | | | | | | | | | | Income from continuing operations | .70 |
| | 1.89 |
| | 1.95 |
| | 2.05 |
| | 6.59 |
| | Income from discontinued operations | — |
| | — |
| | .20 |
| | — |
| | .19 |
| | Net income attributable to Air Products | .70 |
| | 1.89 |
| | 2.15 |
| | 2.05 |
| | 6.78 |
| | Weighted Average Common Shares — Diluted (in millions) | 220.4 |
| | 220.8 |
| | 220.9 |
| | 220.9 |
| | 220.8 |
| | Dividends declared per common share | .95 |
| | 1.10 |
| | 1.10 |
| | 1.10 |
| | 4.25 |
| | Market price per common share – High | 164.78 |
| | 175.17 |
| | 170.29 |
| | 171.66 |
| | | | Market price per common share – Low | 150.55 |
| | 152.71 |
| | 154.67 |
| | 153.02 |
| | | |
| | | | | | | | | | | | | | | | | | | | | | 2017 | Q1 | | Q2 | | Q3 | | Q4 | | Total | | Sales |
| $1,882.5 |
| |
| $1,980.1 |
| |
| $2,121.9 |
| |
| $2,203.1 |
| |
| $8,187.6 |
| | Gross profit | 565.8 |
| | 576.3 |
| | 635.9 |
| | 658.1 |
| | 2,436.1 |
| | Business separation costs(D) | 32.5 |
| | — |
| | — |
| | — |
| | 32.5 |
| | Cost reduction and assets actions(E) | 50.0 |
| | 10.3 |
| | 42.7 |
| | 48.4 |
| | 151.4 |
| | Goodwill and intangible asset impairment charge(F) | — |
| | — |
| | 162.1 |
| | — |
| | 162.1 |
| | Gain on land sale | — |
| | — |
| | — |
| | 12.2 |
| | 12.2 |
| | Operating income | 328.3 |
| | 395.6 |
| | 258.7 |
| | 457.4 |
| | 1,440.0 |
| | Equity affiliates income (loss) | 38.0 |
| | 34.2 |
| | (36.9 | ) | (G) | 44.8 |
| | 80.1 |
| (G) | Income tax provision (benefit) | 78.4 |
| | 94.5 |
|
| 89.3 |
| | (1.3 | ) | (H) | 260.9 |
| (H) | Net income | 306.4 |
| | 2,135.7 |
| (I) | 104.1 |
| | 475.0 |
| | 3,021.2 |
| (I) | Net income attributable to Air Products | | | | | | | | | | | Income from continuing operations | 251.6 |
| | 304.4 |
| | 104.2 |
| | 474.2 |
| | 1,134.4 |
| | Income (Loss) from discontinued operations | 48.2 |
| | 1,825.6 |
| (I) | (2.3 | ) | | (5.5 | ) | | 1,866.0 |
| (I) | Net income attributable to Air Products | 299.8 |
| | 2,130.0 |
| | 101.9 |
| | 468.7 |
| | 3,000.4 |
| | Basic Earnings Per Common Share Attributable to Air Products | | | | | | | | | | | Income from continuing operations | 1.16 |
| | 1.40 |
| | .48 |
| | 2.17 |
| | 5.20 |
| | Income (Loss) from discontinued operations | .22 |
| | 8.38 |
| | (.01 | ) | | (.02 | ) | | 8.56 |
| | Net income attributable to Air Products | 1.38 |
| | 9.78 |
| | .47 |
| | 2.15 |
| | 13.76 |
| | Diluted Earnings Per Common Share Attributable to Air Products | | | | | | | | | | | Income from continuing operations | 1.15 |
| | 1.39 |
| | .47 |
| | 2.15 |
| | 5.16 |
| | Income (Loss) from discontinued operations | .22 |
| | 8.31 |
| | (.01 | ) | | (.02 | ) | | 8.49 |
| | Net income attributable to Air Products | 1.37 |
| | 9.70 |
| | .46 |
| | 2.13 |
| | 13.65 |
| | Weighted Average Common Shares — Diluted (in millions) | 219.7 |
| | 219.7 |
| | 219.8 |
| | 220.1 |
| | 219.8 |
| | Dividends declared per common share | .86 |
| | .95 |
| | .95 |
| | .95 |
| | 3.71 |
| | Market price per common share – High | 150.45 |
| | 149.46 |
| | 147.66 |
| | 152.26 |
| | | | Market price per common share – Low | 129.00 |
| | 133.63 |
| | 134.09 |
| | 141.88 |
| | | |
| | (A) | Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes. |
| | (B) | Includes the impacts of the restructuring of several foreign subsidiaries. For additional information, refer to Note 22, Income Taxes. |
| | (C) | Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations. |
| | (D) | For additional information, refer to Note 4, Materials Technologies Separation. |
| | (E) | For additional information, refer to Note 5, Cost Reduction and Asset Actions. |
| | (F) | For additional information, refer to Note 10, Goodwill, and Note 11, Intangible Assets. |
| | (G) | Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates. |
| | (H) | Includes the impact of a tax election benefit related to a non-U.S. subsidiary. For additional information, see Note 22, Income Taxes. |
(I) Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.
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