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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2020

QUARTERLY FINANCIAL DATA (UNAUDITED)


	First		Second		Third		Fourth
(millions, except per share)	Quarter		Quarter		Quarter		Quarter		Year
2020
Net sales		$3,020.6		$2,685.7		$3,018.6		$3,065.3		$11,790.2
Operating expenses
Cost of sales (a)		1,720.2		1,635.7		1,769.6		1,780.3		6,905.8
Selling, general and administrative expenses		908.3		788.6		802.6		809.6		3,309.1
Special (gains) and charges		15.9		69.4		35.0		59.3		179.6
Operating income		376.2		192.0		411.4		416.1		1,395.7
Other (income) expense (a)		(15.4)		(15.1)		(15.1)		(10.3)		(55.9)
Interest expense, net (a)		48.3		58.7		134.8		48.4		290.2
Income before income taxes		343.3		148.4		291.7		378.0		1,161.4
Provision for income taxes		47.0		14.1		42.4		73.1		176.6
Net income from continuing operations, including noncontrolling interest		296.3		134.3		249.3		304.9		984.8
Net income from continuing operations attributable to noncontrolling interest		4.3		5.4		3.1		4.6		17.4
Net income from continuing operations attributable to Ecolab		292.0		128.9		246.2		300.3		967.4
Net income (loss) from discontinued operations, net of tax (b)		(8.6)		(2,163.9)		-		-		(2,172.5)
Net income (loss) attributable to Ecolab		$283.4		($2,035.0)		$246.2		$300.3		($1,205.1)

Earnings (loss) attributable to Ecolab per common share
Basic
Continuing operations		$ 1.01		$ 0.45		$ 0.86		$ 1.05		$ 3.37
Discontinued operations		($ 0.03)		($ 7.51)		$ -		$ -		($ 7.57)
Earnings (loss) attributable to Ecolab		$ 0.98		($ 7.06)		$ 0.86		$ 1.05		($ 4.20)
Diluted
Continuing operations		$ 1.00		$ 0.44		$ 0.85		$ 1.04		$ 3.33
Discontinued operations		($ 0.03)		($ 7.42)		$ -		$ -		($ 7.48)
Earnings (loss) attributable to Ecolab		$ 0.97		($ 6.98)		$ 0.85		$ 1.04		($ 4.15)
Weighted-average common shares outstanding
Basic		288.8		288.2		285.4		285.6		287.0
Diluted		292.6		291.5		288.4		288.7		290.3

2019
Net sales		$2,924.7		$3,169.1		$3,224.0		$3,244.2		$12,562.0
Operating expenses
Cost of sales (a)		1,675.5		1,780.3		1,780.9		1,809.1		7,045.8
Selling, general and administrative expenses		896.1		900.0		869.2		885.5		3,550.8
Special (gains) and charges		39.5		24.4		24.9		31.4		120.2
Operating income		313.6		464.4		549.0		518.2		1,845.2
Other (income) expense		(21.2)		(20.9)		(20.8)		(14.1)		(77.0)
Interest expense, net (a)		49.3		49.2		46.1		46.1		190.7
Income before income taxes		285.5		436.1		523.7		486.2		1,731.5
Provision for income taxes		29.9		88.8		83.4		86.5		288.6
Net income from continuing operations, including noncontrolling interest		255.6		347.3		440.3		399.7		1,442.9
Net income from continuing operations attributable to noncontrolling interest		4.0		3.9		4.4		5.0		17.3
Net income from continuing operations attributable to Ecolab		251.6		343.4		435.9		394.7		1,425.6
Net income from discontinued operations, net of tax (b)		44.9		25.2		28.3		34.9		133.3
Net income attributable to Ecolab		$296.5		$368.6		$464.2		$429.6		$1,558.9


	First		Second		Third		Fourth
(millions, except per share)	Quarter		Quarter		Quarter		Quarter		Year
Earnings attributable to Ecolab per common share
Basic
Continuing operations		$ 0.87		$ 1.19		$ 1.51		$ 1.37		$ 4.95
Discontinued operations		$ 0.16		$ 0.09		$ 0.10		$ 0.12		$ 0.46
Earnings attributable to Ecolab		$ 1.03		$ 1.28		$ 1.61		$ 1.49		$ 5.41
Diluted
Continuing operations		$ 0.86		$ 1.18		$ 1.49		$ 1.35		$ 4.87
Discontinued operations		$ 0.15		$ 0.09		$ 0.10		$ 0.12		$ 0.46
Earnings attributable to Ecolab		$ 1.01		$ 1.26		$ 1.59		$ 1.47		$ 5.33
Weighted-average common shares outstanding
Basic		288.2		287.6		288.1		288.3		288.1
Diluted		292.3		292.1		292.8		292.6		292.5

Per share amounts do not necessarily sum due to changes in the calculation of shares outstanding for each discrete period and rounding. Gross profit is calculated as net sales minus cost of sales. As discussed in Note 5, the ChampionX separation met the criteria to be reported as discontinued operations and prior periods have been conformed to current period presentation.

(a)

Cost of sales includes special charges of $9.1, $27.0, $9.5 and $2.6 in Q1, Q2, Q3 and Q4 of 2020, respectively and $3.6, $7.8, $11.4 and $15.7 in Q1, Q2, Q3 and Q4 of 2019, respectively. Other (income) expense includes special charges of $0.4 and $9.5 in Q4 of 2020 and 2019, respectively. Net interest expense includes special charges of $0.7 and $83.1 in Q2 and Q3 of 2020, respectively and $0.2 in Q1 of 2019.

(b)

Net income from discontinued operations, net of tax includes noncontrolling interest of $2.5 and ($0.3) in Q1 and Q2 of 2020, respectively and $(0.1), ($0.3), $0.7 and $(0.3) in Q1, Q2, Q3 and Q4 of 2019, respectively.