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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2015
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

2015

    

    

 

 

    

 

 

    

 

 

    

 

 

    

 

    

Net sales

 

 
$
3,297.6

 

 
$
3,389.1

 

 
$
3,446.4

 

 
$
3,412.0

 

 
$
13,545.1

 

Cost of sales (including special charges of $0.6,  $11.0,  $23.8 and $45.2 in Q1, Q2, Q3 and Q4, respectively)

 

 
1,765.3

 

 
1,806.5

 

 
1,820.0

 

 
1,831.7

 

 
7,223.5

 

Selling, general and administrative expenses

 

 
1,136.8

 

 
1,079.2

 

 
1,070.7

 

 
1,058.8

 

 
4,345.5

 

Special (gains) and charges

 

 
7.8

 

 
65.6

 

 
142.7

 

 
198.7

 

 
414.8

 

Operating income

 

 
387.7

 

 
437.8

 

 
413.0

 

 
322.8

 

 
1,561.3

 

Interest expense, net

 

 
62.5

 

 
61.2

 

 
57.6

 

 
62.3

 

 
243.6

 

Income before income taxes

 

 
325.2

 

 
376.6

 

 
355.4

 

 
260.5

 

 
1,317.7

 

Provision for income taxes

 

 
89.8

 

 
67.8

 

 
105.3

 

 
37.6

 

 
300.5

 

Net income including noncontrolling interest

 

 
235.4

 

 
308.8

 

 
250.1

 

 
222.9

 

 
1,017.2

 

Less: Net income attributable to noncontrolling interest (including special charges of $11.1 and $1.7 in Q3 and Q4, respectively)

 

 
2.0

 

 
6.8

 

 
(7.7)

 

 
14.0

 

 
15.1

 

Net income attributable to Ecolab

 

 
$
233.4

 

 
$
302.0

 

 
$
257.8

 

 
$
208.9

 

 
$
1,002.1

 

Earnings attributable to Ecolab per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
$
0.78

 

 
$
1.02

 

 
$
0.87

 

 
$
0.71

 

 
$
3.38

 

Diluted

 

 
$
0.77

 

 
$
1.00

 

 
$
0.86

 

 
$
0.69

 

 
$
3.32

 

Weighted-average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
298.2

 

 
296.2

 

 
295.2

 

 
295.8

 

 
296.4

 

Diluted

 

 
303.2

 

 
301.1

 

 
300.0

 

 
300.6

 

 
301.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 
$
3,336.6

 

 
$
3,568.2

 

 
$
3,694.9

 

 
$
3,680.8

 

 
$
14,280.5

 

Cost of sales (including special charges of $6.0,  $1.1,  $0.8 and $6.4 in Q1, Q2, Q3 and Q4, respectively)

 

 
1,819.2

 

 
1,909.4

 

 
1,970.6

 

 
1,979.9

 

 
7,679.1

 

Selling, general and administrative expenses

 

 
1,136.9

 

 
1,152.7

 

 
1,145.9

 

 
1,142.1

 

 
4,577.6

 

Special (gains) and charges

 

 
29.6

 

 
(6.1)

 

 
7.0

 

 
38.3

 

 
68.8

 

Operating income

 

 
350.9

 

 
512.2

 

 
571.4

 

 
520.5

 

 
1,955.0

 

Interest expense, net

 

 
65.1

 

 
66.2

 

 
63.3

 

 
62.0

 

 
256.6

 

Income before income taxes

 

 
285.8

 

 
446.0

 

 
508.1

 

 
458.5

 

 
1,698.4

 

Provision for income taxes

 

 
91.3

 

 
131.0

 

 
138.7

 

 
115.2

 

 
476.2

 

Net income including noncontrolling interest

 

 
194.5

 

 
315.0

 

 
369.4

 

 
343.3

 

 
1,222.2

 

Less: Net income attributable to noncontrolling interest

 

 
3.5

 

 
3.6

 

 
4.5

 

 
7.8

 

 
19.4

 

Net income attributable to Ecolab

 

 
$
191.0

 

 
$
311.4

 

 
$
364.9

 

 
$
335.5

 

 
$
1,202.8

 

Earnings attributable to Ecolab per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
$
0.64

 

 
$
1.04

 

 
$
1.22

 

 
$
1.12

 

 
$
4.01

 

Diluted

 

 
$
0.62

 

 
$
1.02

 

 
$
1.19

 

 
$
1.10

 

 
$
3.93

 

Weighted-average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
300.6

 

 
299.6

 

 
300.0

 

 
300.1

 

 
300.1

 

Diluted

 

 
306.5

 

 
305.2

 

 
305.7

 

 
305.6

 

 
305.9

 

 

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