Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information (Unaudited)

Note 14—Quarterly Financial Information (Unaudited)

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In thousands, except per share amounts)
Year Ended December 31, 2012:
Net sales	$	928,449	$	1,158,711	$	2,077,816	$	2,255,905
Gross profit		473,371		594,522		1,115,371		1,225,933
Advertising and promotion expenses		97,859		112,395		234,793		272,756
Other selling and administrative expenses (a)		346,776		350,694		393,211		579,698
Operating income (a)		28,736		131,433		487,367		373,479
Income before income taxes		10,168		111,361		466,847		356,669
Net income (b)		7,829		96,218		365,937		306,480
Net income per common share—basic	$	0.02	$	0.28	$	1.06	$	0.88
Weighted average number of common shares		339,144		341,256		342,595		343,624
Net income per common share—diluted	$	0.02	$	0.28	$	1.04	$	0.87
Weighted average number of common and potential common shares		343,660		345,554		347,122		348,351
Dividends declared per common share	$	0.31	$	0.31	$	0.31	$	0.31
Common stock market price:
High	$	34.39	$	34.30	$	36.17	$	37.79
Low		27.76		30.56		31.04		35.11
Year Ended December 31, 2011:
Net sales	$	951,856	$	1,161,667	$	1,998,760	$	2,153,754
Gross profit		473,147		556,241		956,074		1,160,364
Advertising and promotion expenses		101,849		116,167		219,864		261,367
Other selling and administrative expenses		334,540		330,807		338,640		401,491
Operating income		36,758		109,267		397,570		497,506
Income before income taxes		21,261		94,888		385,671		468,853
Net income (b)		16,607		80,529		300,795		370,577
Net income per common share—basic	$	0.05	$	0.23	$	0.87	$	1.08
Weighted average number of common shares		349,072		347,133		343,191		339,386
Net income per common share—diluted	$	0.05	$	0.23	$	0.86	$	1.07
Weighted average number of common and potential common shares		352,707		350,944		346,792		343,492
Dividends declared per common share	$	0.23	$	0.23	$	0.23	$	0.23
Common stock market price:
High	$	25.85	$	27.49	$	28.00	$	29.19
Low		23.51		25.23		22.94		25.07

(a) Other selling and administrative expenses and operating income for the fourth quarter of 2012 included the impact of the Litigation Charge of $137.8 million.

(b) Net income for the second and third quarter of 2012 included net tax benefits of $10.5 million and $5.5 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of current audits and tax filings in various jurisdictions, settlements, and enacted tax law changes. Net income for the fourth quarter of 2012 included the impact of the Litigation Charge, net of tax, of $87.1 million. Net income for the second quarter of 2011 included net tax benefits of $6.4 million, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions, settlements, and enacted tax law changes.