INTERIM FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2015

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
2015
Net sales	$	7,142	$	1,715	$	1,839	$	1,929	$	1,659
Gross profit	$	2,253	$	532	$	589	$	637	$	495
Income from continuing operations	$	357	$	76	$	111	$	109	$	61
Net income	$	355	$	75	$	111	$	105	$	64
Earnings per common share:
Basic:
Income from continuing operations	$	1.04	$	.23	$	.33	$	.32	$	.17
Net income	$	1.03	$	.22	$	.33	$	.30	$	.18
Diluted:
Income from continuing operations	$	1.03	$	.22	$	.32	$	.31	$	.17
Net income	$	1.02	$	.22	$	.32	$	.30	$	.18
2014
Net sales	$	7,006	$	1,666	$	1,834	$	1,876	$	1,630
Gross profit	$	2,060	$	481	$	522	$	575	$	482
Income from continuing operations	$	821	$	86	$	533	$	124	$	78
Net income	$	856	$	100	$	543	$	139	$	74
Earnings per common share:
Basic:
Income from continuing operations	$	2.31	$	.24	$	1.49	$	.35	$	.22
Net income	$	2.40	$	.28	$	1.52	$	.39	$	.21
Diluted:
Income from continuing operations	$	2.28	$	.24	$	1.48	$	.35	$	.22
Net income	$	2.38	$	.28	$	1.51	$	.39	$	.21

        Earnings per common share amounts for the four quarters of 2015 and 2014 may not total to the earnings per common share amounts for the years ended December 31, 2015 and 2014 due to the allocation of income to participating securities.

        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.