The following table represents a Summary of Restated and Revised Quarterly Financial Data for years ended December 31, 2018 and 2017:



	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
				As Revised					As Revised
	(In thousands, except per share amounts)
Year Ended December 31, 2018
Net sales	$	708,372		$	844,706		$	1,437,451	$	1,524,281
Cost of sales	489,499			587,546			824,395		814,687
Gross profit	218,873			257,160			613,056		709,594
Advertising and promotion expenses	70,837			82,393			165,308		205,750
Other selling and administrative expenses	424,617			360,000			325,874		398,253
Operating (loss) income	(276,581		)	(185,233		)	121,874		105,591
(Loss) income before income taxes	(313,905		)	(230,064		)	72,592		54,274
Net (loss) income (a)	(311,253		)	(237,963		)	6,278		9,639
Net (loss) income (a) per common share - basic	$	(0.90	)	$	(0.69	)	$	0.02	$	0.03
Weighted average number of common shares	344,434			344,584			345,285		345,720
Net (loss) income per common share - diluted	$	(0.90	)	$	(0.69	)	$	0.02	$	0.03
Weighted average number of common and potential common shares	344,434			344,584			345,672		345,846
Dividends declared per common share	$	—		$	—		$	—	$	—



	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	As Revised			As Revised			As Restated			As Restated
	(In thousands, except per share amounts)
Year Ended December 31, 2017
Net sales	$	737,418		$	976,177		$	1,560,983		$	1,606,915
Cost of sales	455,240			574,712			911,234			1,115,736
Gross profit	282,178			401,465			649,749			491,179
Advertising and promotion expenses	73,562			95,499			179,691			293,534
Other selling and administrative expenses (b)	330,829			353,296			381,214			452,644
Operating (loss) income (b)	(122,213		)	(47,330		)	88,844			(254,999		)
(Loss) income before income taxes	(142,271		)	(72,043		)	63,863			(350,794		)
Net loss (a)	(110,956		)	(54,885		)	(713,445		)	(175,293		)
Net loss (a) per common share - basic	$	(0.32	)	$	(0.16	)	$	(2.07	)	$	(0.51	)
Weighted average number of common shares	342,914			343,116			343,870			344,294
Net loss (a) per common share - diluted	$	(0.32	)	$	(0.16	)	$	(2.07	)	$	(0.51	)
Weighted average number of common and potential common shares	342,914			343,116			343,870			344,294
Dividends declared per common share	$	0.38		$	0.38		$	0.15		$	—

(a)

Net loss in the first and second quarters of 2018 included net discrete tax expense of $4.5 million and a net discrete tax benefit of $2.3 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted law changes. Net income in the third quarter of 2018 included net discrete tax expense of $42.1 million, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, changes to the indefinite reinvestment assertion, repatriation of accumulated foreign earnings (net of related valuation allowance change), and enacted law changes. Net income in the fourth quarter of 2018 included a net discrete tax benefit of $5.6 million related to the deemed repatriation of accumulated foreign earnings (net of related valuation allowance change). Net loss for the first and second quarters of 2017 included net discrete tax expense of $0.5 million and a net discrete tax benefit of $3.2 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted law changes. Net loss in the third quarter of 2017 included net discrete tax expense of $674.9 million, primarily related to the establishment of a valuation allowance. Net loss in the fourth quarter of 2017 included a net discrete tax benefit of $214.6 million primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted tax law changes.


(b)	In accordance with ASU 2017-07, prior period amounts have been retrospectively adjusted, which resulted in a reclassification of $1.4 million, $(0.3) million, $0.5 million, and $1.8 million of expense, net from other selling and administrative expenses to other non-operating expense, net for the quarters ended March 31, 2017, June 30, 2017, September 30, 2017, and December 31, 2017.

Restatement of Quarterly Information for the Third and Fourth Quarter of 2017

The following represents the restatement of the unaudited consolidated financial statements as of and for the periods ended September 30, 2017:

CONSOLIDATED BALANCE SHEET



	September 30, 2017
	As Previously Reported			Adjustments			As Restated
	(In thousands)
ASSETS
Current Assets
Cash and equivalents	$	181,308		$	—		$	181,308
Accounts receivable, net	1,506,145			—			1,506,145
Inventories	989,995			—			989,995
Prepaid expenses and other current assets	352,711			—			352,711
Total current assets	3,030,159			—			3,030,159
Noncurrent Assets
Property, plant, and equipment, net	821,228			—			821,228
Goodwill	1,397,642			—			1,397,642
Other noncurrent assets	950,655			—			950,655
Total Assets	$	6,199,684		$	—		$	6,199,684
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Short-term borrowings	$	732,649		$	—		$	732,649
Current portion of long-term debt	250,000			—			250,000
Accounts payable	713,488			—			713,488
Accrued liabilities	568,845			7,388			576,233
Income taxes payable	32,296			—			32,296
Total current liabilities	2,297,278			7,388			2,304,666
Noncurrent Liabilities
Long-term debt	1,886,404			—			1,886,404
Other noncurrent liabilities	576,327			108,958			685,285
Total noncurrent liabilities	2,462,731			108,958			2,571,689
Stockholders’ Equity
Common stock $1.00 par value, 1.0 billion shares authorized; 441.4 million shares issued	441,369			—			441,369
Additional paid-in capital	1,793,036			—			1,793,036
Treasury stock at cost: 97.7 million shares	(2,392,422		)	—			(2,392,422		)
Retained earnings	2,460,224			(116,346		)	2,343,878
Accumulated other comprehensive loss	(862,532		)	—			(862,532		)
Total stockholders’ equity	1,439,675			(116,346		)	1,323,329
Total Liabilities and Stockholders’ Equity	$	6,199,684		$	—		$	6,199,684

CONSOLIDATED STATEMENTS OF OPERATIONS



	Three Months Ended September 30, 2017									Nine Months Ended September 30, 2017
	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
	(In thousands, except per share amounts)
Net Sales	$	1,560,983		$	—		$	1,560,983		$	3,271,078		$	3,500		$	3,274,578
Cost of sales	913,834			(2,600		)	911,234			1,945,386			(4,200		)	1,941,186
Gross Profit	647,149			2,600			649,749			1,325,692			7,700			1,333,392
Advertising and promotion expenses	179,691			—			179,691			348,752			—			348,752
Other selling and administrative expenses	381,214			—			381,214			1,065,339			—			1,065,339
Operating Income (Loss)	86,244			2,600			88,844			(88,399		)	7,700			(80,699		)
Interest expense	24,646			—			24,646			68,557			—			68,557
Interest (income)	(1,575		)	—			(1,575		)	(6,337		)	—			(6,337		)
Other non-operating expense, net	1,910			—			1,910			7,532			—			7,532
Income (Loss) Before Income Taxes	61,263			2,600			63,863			(158,151		)	7,700			(150,451		)
Provision for income taxes	664,510			112,798			777,308			614,402			114,433			728,835
Net Loss	$	(603,247	)	$	(110,198	)	$	(713,445	)	$	(772,553	)	$	(106,733	)	$	(879,286	)
Net Loss Per Common Share - Basic	$	(1.75	)	$	(0.32	)	$	(2.07	)	$	(2.25	)	$	(0.31	)	$	(2.56	)
Weighted average number of common shares	343,870			—			343,870			343,304			—			343,304
Net Loss Per Common Share - Diluted	$	(1.75	)	$	(0.32	)	$	(2.07	)	$	(2.25	)	$	(0.31	)	$	(2.56	)
Weighted average number of common and potential common shares	343,870			—			343,870			343,304			—			343,304
Dividends Declared Per Common Share	$	0.15		$	—		$	0.15		$	0.91		$	—		$	0.91

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS



	Three Months Ended September 30, 2017									Nine Months Ended September 30, 2017
	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
	(In thousands)
Net Loss	$	(603,247	)	$	(110,198	)	$	(713,445	)	$	(772,553	)	$	(106,733	)	$	(879,286	)
Other Comprehensive Income, Net of Tax
Currency translation adjustments	36,912			—			36,912			142,248			—			142,248
Defined benefit pension plan adjustments	1,106			—			1,106			3,185			—			3,185
Net unrealized losses on available-for-sale security	(3,848		)	—			(3,848		)	(7,585		)	—			(7,585		)
Net unrealized losses on derivative instruments:
Unrealized holding losses	(24,009		)	—			(24,009		)	(63,999		)	—			(63,999		)
Amounts reclassified from accumulated other comprehensive loss	9,241			—			9,241			6,648			—			6,648
	(14,768		)	—			(14,768		)	(57,351		)	—			(57,351		)
Other Comprehensive Income, Net of Tax	19,402			—			19,402			80,497			—			80,497
Comprehensive Loss	$	(583,845	)	$	(110,198	)	$	(694,043	)	$	(692,056	)	$	(106,733	)	$	(798,789	)

CONSOLIDATED STATEMENT OF CASH FLOWS



	Nine Months Ended September 30, 2017
	As Previously Reported			Adjustments			As Restated
	(In thousands)
Net loss	$	(772,553	)	$	(106,733	)	$	(879,286	)
Adjustments to reconcile net loss to net cash flows used for operating activities:
Depreciation	179,831			—			179,831
Amortization	16,264			—			16,264
Asset impairments	14,942			—			14,942
Deferred income taxes	2,057			5,475			7,532
Valuation allowance on deferred tax assets	561,915			108,958			670,873
Share-based compensation	47,582			—			47,582
Bad debt expense	11,758			—			11,758
Inventory obsolescence	37,402			—			37,402
(Decrease) increase from changes in assets and liabilities:
Accounts receivable	(367,579		)	(3,500		)	(371,079		)
Inventories	(396,415		)	—			(396,415		)
Prepaid expenses and other current assets	(19,027		)	(7,388		)	(26,415		)
Accounts payable, accrued liabilities, and income taxes payable	9,893			3,188			13,081
Other, net	(66,140		)	—			(66,140		)
Net cash flows used for operating activities	(740,070		)	—			(740,070		)
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds	(101,428		)	—			(101,428		)
Purchases of other property, plant, and equipment	(133,895		)	—			(133,895		)
Proceeds from foreign currency forward exchange contracts	60,376			—			60,376
Other, net	38			—			38
Net cash flows used for investing activities	(174,909		)	—			(174,909		)
Cash Flows From Financing Activities:
Payments of short-term borrowings, net	(878,937		)	—			(878,937		)
Proceeds from short-term borrowings, net	1,419,418			—			1,419,418
Payments of dividends on common stock	(311,973		)	—			(311,973		)
Proceeds from exercise of stock options	1,768			—			1,768
Other, net	(16,543		)	—			(16,543		)
Net cash flows provided by financing activities	213,733			—			213,733
Effect of Currency Exchange Rate Changes on Cash	13,023			—			13,023
Decrease in Cash and Equivalents	(688,223		)	—			(688,223		)
Cash and Equivalents at Beginning of Period	869,531			—			869,531
Cash and Equivalents at End of Period	$	181,308		$	—		$	181,308

The following represents the restatement of the unaudited consolidated financial data for the period ended December 31, 2017:



	Three Months Ended December 31, 2017
	As Previously Reported			Adjustments			As Restated
	(In thousands, except per share amounts)
Net sales	$	1,610,873		$	(3,958	)	$	1,606,915
Cost of sales	1,115,736			—			1,115,736
Gross profit	495,137			(3,958		)	491,179
Advertising and promotion expenses	293,534			—			293,534
Other selling and administrative expenses	452,644			—			452,644
Operating loss	(251,041		)	(3,958		)	(254,999		)
Loss before income taxes	(346,836		)	(3,958		)	(350,794		)
Net loss	(281,283		)	105,990			(175,293		)
Net loss per common share—basic	$	(0.82	)	$	0.31		$	(0.51	)
Weighted average number of common shares	344,294			—			344,294
Net loss per common share—diluted	$	(0.82	)	$	0.31		$	(0.51	)
Weighted average number of common and potential common shares	344,294			—			344,294
Dividends declared per common share	$	—		$	—		$	—

Revision of Quarterly Information

The effects of immaterial revisions on the impacted interim periods are presented below. Periods which were not impacted by such revisions are not presented.



	Three Months Ended June 30, 2018
	As Previously Reported			Adjustments		As Revised
	(In thousands, except per share amounts)
Net sales	$	840,748		$	3,958	$	844,706
Cost of sales	587,546			—		587,546
Gross profit	253,202			3,958		257,160
Advertising and promotion expenses	82,393			—		82,393
Other selling and administrative expenses	360,000			—		360,000
Operating loss	(189,191		)	3,958		(185,233		)
Loss before income taxes	(234,022		)	3,958		(230,064		)
Net loss	(240,931		)	2,968		(237,963		)
Net loss per common share - basic	$	(0.70	)	$	0.01	$	(0.69	)
Weighted average number of common shares	344,584			—		344,584
Net loss per common share - diluted	$	(0.70	)	$	0.01	$	(0.69	)
Weighted average number of common and potential common shares	344,584			—		344,584
Dividends declared per common share	$	—		$	—	$	—



	Three Months Ended December 31, 2018
	As Previously Reported		Adjustments			As Revised
	(In thousands, except per share amounts)
Net sales	$	1,524,281	$	—		$	1,524,281
Cost of sales	814,687		—			814,687
Gross profit	709,594		—			709,594
Advertising and promotion expenses	207,898		(2,148		)	205,750
Other selling and administrative expenses	394,305		3,948			398,253
Operating income	107,391		(1,800		)	105,591
Income before income taxes	56,074		(1,800		)	54,274
Net income	14,913		(5,274		)	9,639
Net income per common share - basic	$	0.04	$	(0.01	)	$	0.03
Weighted average number of common shares	345,720		—			345,720
Net income per common share - diluted	$	0.04	$	(0.01	)	$	0.03
Weighted average number of common and potential common shares	345,846		—			345,846
Dividends declared per common share	$	—	$	—		$	—



	Three Months Ended June 30, 2017
	As Previously Reported			Adjustments		As Revised
	(In thousands, except per share amounts)
Net sales	$	974,477		$	1,700	$	976,177
Cost of sales	574,712			—		574,712
Gross profit	399,765			1,700		401,465
Advertising and promotion expenses	95,499			—		95,499
Other selling and administrative expenses	353,296			—		353,296
Operating loss	(49,030		)	1,700		(47,330		)
Loss before income taxes	(73,743		)	1,700		(72,043		)
Net loss	(56,075		)	1,190		(54,885		)
Net loss per common share—basic	$	(0.16	)	$	—	$	(0.16	)
Weighted average number of common shares	343,116			—		343,116
Net loss per common share—diluted	$	(0.16	)	$	—	$	(0.16	)
Weighted average number of common and potential common shares	343,116			—		343,116
Dividends declared per common share	$	0.38		$	—	$	0.38



	Three Months Ended March 31, 2017
	As Previously Reported			Adjustments			As Revised
	(In thousands, except per share amounts)
Net sales	$	735,618		$	1,800		$	737,418
Cost of sales	456,840			(1,600		)	455,240
Gross profit	278,778			3,400			282,178
Advertising and promotion expenses	73,562			—			73,562
Other selling and administrative expenses	330,829			—			330,829
Operating loss	(125,613		)	3,400			(122,213		)
Loss before income taxes	(145,671		)	3,400			(142,271		)
Net loss	(113,231		)	2,275			(110,956		)
Net loss income per common share - basic	$	(0.33	)	$	0.01		$	(0.32	)
Weighted average number of common shares	342,914			—			342,914
Net loss per common share - diluted	$	(0.33	)	$	0.01		$	(0.32	)
Weighted average number of common and potential common shares	342,914			—			342,914
Dividends declared per common share	$	0.38		$	—		$	0.38