Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

Quarterly Financial Data (unaudited)

	Quarter
(millions, except per-share data)	First		Second			Third			Fourth
2015
Net sales	$	909	$	970		$	972		$	925
Gross profit	153		183			183			172
Operating profit	76		105			102			98
Income from continuing operations (b)	24		79			76			812
Loss from discontinued operations, net of tax	—		—			—			—
Net income attributable to USG (b)	24		79			76			812
Income from continuing operations per common share:
Basic (a)	0.16		0.54			0.52			5.58
Diluted (a)	0.16		0.54			0.52			5.51
2014
Net sales	$	850	$	948		$	972		$	954
Gross profit	143		175			176			160
Operating profit (loss) (c)	66		98			22			(24		)
Income (loss) from continuing operations (c)	45		58			(11		)	(53		)
Loss from discontinued operations, net of tax	—		(1		)	—			—
Net income (loss) attributable to USG (c)	45		57			(12		)	(53		)
Income (loss) from continuing operations per common share:
Basic (a)	0.33		0.40			(0.09		)	(0.36		)
Diluted (a)	0.32		0.39			(0.09		)	(0.36		)

(a) The sum of the four quarters is not necessarily the same as the total for the year.

(b) Income from continuing operations and net income attributable to USG for the fourth quarter of 2015 included a reversal of an income tax valuation allowance of $731 million.

(c) Operating profit (loss), income (loss) from continuing operations, and net income (loss) attributable to USG for the third quarter of 2014 included a litigation settlement charge of $48 million and long-lived asset impairment charges of $30 million and for the fourth quarter of 2014 included a long-lived asset impairment charge of $60 million, contract termination charge and loss of receivable of $15 million, and pension settlement charges of $13 million.