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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2013
QUARTERLY FINANCIAL DATA (UNAUDITED)  
QUARTERLY FINANCIAL DATA (UNAUDITED)

18. QUARTERLY FINANCIAL DATA (UNAUDITED)

 

 

 

 

FIRST

 

SECOND

 

THIRD

 

FOURTH

 

 

 

MILLIONS, EXCEPT PER SHARE

 

 

QUARTER

 

QUARTER

 

QUARTER

 

QUARTER

 

YEAR

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

$

2,872.1

 

$

3,337.8

 

$

3,484.0

 

$

3,559.5

 

$

13,253.4

 

Cost of sales (including special charges of $2.0, $15.2, $6.3 and $19.7 in Q1, Q2, Q3 and Q4, respectively)

 

 

1,564.9

 

1,828.6

 

1,882.8

 

1,963.8

 

7,240.1

 

Selling, general and administrative expenses

 

 

995.8

 

1,083.3

 

1,097.4

 

1,104.9

 

4,281.4

 

Special (gains) and charges

 

 

49.7

 

73.6

 

27.8

 

20.2

 

171.3

 

Operating income

 

 

261.7

 

352.3

 

476.0

 

470.6

 

1,560.6

 

Interest expense, net (including special charges of $2.2 and $0.3 in Q1 and Q2, respectively)

 

 

61.5

 

66.2

 

67.0

 

67.6

 

262.3

 

Income before income taxes

 

 

200.2

 

286.1

 

409.0

 

403.0

 

1,298.3

 

Provision for income taxes

 

 

39.2

 

70.3

 

101.8

 

113.4

 

324.7

 

Net income including noncontrolling interest

 

 

161.0

 

215.8

 

307.2

 

289.6

 

973.6

 

Less: Net income attributable to noncontrolling interest (including special charges of $0.5 in Q1)

 

 

1.4

 

2.7

 

(0.8)

 

2.5

 

5.8

 

Net income attributable to Ecolab

 

 

$

159.6

 

$

213.1

 

$

308.0

 

$

287.1

 

$

967.8

 

Earnings attributable to Ecolab per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

$

0.54

 

$

0.71

 

$

1.02

 

$

0.95

 

$

3.23

 

Diluted

 

 

$

0.53

 

$

0.69

 

$

1.00

 

$

0.93

 

$

3.16

 

Weighted-average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

295.4

 

301.5

 

301.2

 

301.2

 

299.9

 

Diluted

 

 

300.9

 

307.4

 

307.2

 

307.5

 

305.9

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

2,810.9

 

$

2,958.7

 

$

3,023.3

 

$

3,045.8

 

$

11,838.7

 

Cost of sales (including special charges of $76.0, $3.1, $3.2 and $11.6 in Q1, Q2, Q3 and Q4, respectively)

 

1,614.0

 

1,608.9

 

1,616.4

 

1,644.2

 

6,483.5

 

Selling, general and administrative expenses

 

989.7

 

981.7

 

977.7

 

971.1

 

3,920.2

 

Special (gains) and charges

 

41.4

 

41.6

 

28.0

 

34.7

 

145.7

 

Operating income

 

165.8

 

326.5

 

401.2

 

395.8

 

1,289.3

 

Interest expense, net (including special charges of $18.2 and $1.1 in Q1 and Q4, respectively)

 

86.1

 

63.9

 

64.2

 

62.5

 

276.7

 

Income before income taxes

 

79.7

 

262.6

 

337.0

 

333.3

 

1,012.6

 

Provision for income taxes

 

35.6

 

79.2

 

97.7

 

98.8

 

311.3

 

Net income including noncontrolling interest

 

44.1

 

183.4

 

239.3

 

234.5

 

701.3

 

Less: Net income attributable to noncontrolling interest (including special charges of $4.5 in Q1)

 

(5.6)

 

(1.1)

 

1.3

 

3.1

 

(2.3)

 

Net income attributable to Ecolab

 

$

49.7

 

$

184.5

 

$

238.0

 

$

231.4

 

$

703.6

 

Earnings attributable to Ecolab per common share

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.17

 

$

0.63

 

$

0.81

 

$

0.79

 

$

2.41

 

Diluted

 

$

0.17

 

$

0.62

 

$

0.80

 

$

0.77

 

$

2.35

 

Weighted-average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

Basic

 

291.5

 

291.9

 

292.7

 

293.8

 

292.5

 

Diluted

 

297.9

 

298.2

 

298.6

 

299.9

 

298.9

 

 

Per share amounts do not necessarily sum due to changes in the calculation of shares outstanding for each discrete period and rounding.