Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

Quarterly Financial Data (unaudited)

	Quarter
(millions, except per-share data)	First		Second			Third		Fourth
2017
Net sales	$	767	$	811		$	795	$	831
Gross profit	164		168			163		170
Operating profit	91		96			93		87
Income (loss) from continuing operations (b)	55		46			66		(70		)
(Loss) income from discontinued operations, net of tax	—		(10		)	—		1
Net income (loss) (b)	55		36			66		(69		)
Income per average common share:
Basic (a)	$	0.38	$	0.25		$	0.47	$	(0.49	)
Diluted (a)	0.37		0.24			0.46		(0.49		)
2016
Net sales	$	747	$	769		$	767	$	734
Gross profit	181		193			181		150
Operating profit	116		122			97		59
Income from continuing operations (c)	60		67			56		28
Gain on sale of discontinued operations, net of tax	—		—			—		279
Income from discontinued operations, net of tax	7		7			6		—
Net income (c)	67		74			62		307
Income per average common share:
Basic (a)	$	0.46	$	0.50		$	0.43	$	2.10
Diluted (a)	0.46		0.50			0.42		2.07

(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 included a loss on extinguishment of debt of $22 million for the second quarter of 2017 and income tax expense of $145 million related to the 2017 Tax Act for the fourth quarter of 2017. See Notes 6 and 15, respectively.

(c) Income from continuing operations and net income included a loss on extinguishment of debt of $32 million for the fourth quarter of 2016. See Note 6.