INTERIM FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2014

INTERIM FINANCIAL INFORMATION (UNAUDITED)

INTERIM FINANCIAL INFORMATION (UNAUDITED)

V. INTERIM FINANCIAL INFORMATION (UNAUDITED)

			Quarters Ended
			(In Millions, Except Per Common Share Data)
	Total Year		December 31		September 30		June 30		March 31
2014
Net sales	$	8,521	$	2,064	$	2,232	$	2,260	$	1,965
Gross profit	$	2,387	$	568	$	611	$	661	$	547
Income from continuing operations	$	861	$	103	$	542	$	140	$	76
Net income	$	856	$	100	$	543	$	139	$	74
Earnings per common share:
Basic:
Income from continuing operations	$	2.42	$	.29	$	1.52	$	.39	$	.21
Net income	$	2.40	$	.28	$	1.52	$	.39	$	.21
Diluted:
Income from continuing operations	$	2.39	$	.29	$	1.51	$	.39	$	.21
Net income	$	2.38	$	.28	$	1.51	$	.39	$	.21
2013
Net sales	$	8,173	$	1,998	$	2,150	$	2,149	$	1,876
Gross profit	$	2,255	$	531	$	607	$	609	$	508
Income from continuing operations	$	298	$	42	$	111	$	83	$	62
Net income	$	288	$	48	$	109	$	78	$	53
Earnings per common share:
Basic:
Income from continuing operations	$	.83	$	.12	$	.31	$	.23	$	.17
Net income	$	.80	$	.13	$	.31	$	.22	$	.15
Diluted:
Income from continuing operations	$	.83	$	.12	$	.31	$	.23	$	.17
Net income	$	.80	$	.13	$	.30	$	.22	$	.15

        Earnings per common share amounts for the four quarters of 2014 and 2013 may not total to the earnings per common share amounts for the years ended December 31, 2014 and 2013 due to the allocation of income to unvested stock awards.

        In the third quarter of 2014, we recorded a $517 million tax benefit from the release of the valuation allowance against our U.S. Federal and certain state deferred tax assets.