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Selected Quarterly Data (unaudited)
 12 Months Ended
Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]  
Selected Quarterly Data
Selected Quarterly Data (Unaudited)
The following tables present 2017 and 2016 quarterly financial information:
 
2017
In millions, except per-share data
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales
$
1,183.5

$
1,265.3

$
1,226.8

$
1,260.9

$
4,936.5

Gross profit
422.3

483.2

455.3

468.3

1,829.1

Operating income
138.4

212.8

192.2

137.4

680.8

Net income from continuing operations
80.7

68.3

127.1

203.9

480.0

Income (loss) from discontinued operations, net of tax
7.1

(5.2
)
—

3.5

5.4

Gain (loss) from sale of discontinued operations, net of tax
—

200.6

(1.7
)
(17.8
)
181.1

Net income
87.8

263.7

125.4

189.6

666.5

Earnings per ordinary share (1)
 
 
 
 
 
Basic
 
 
 
 
 
Continuing operations
$
0.44

$
0.38

$
0.70

$
1.12

$
2.64

Discontinued operations
0.04

1.07

(0.01
)
(0.07
)
1.03

Basic earnings per ordinary share
$
0.48

$
1.45

$
0.69

$
1.05

$
3.67

Diluted
 
 
 
 
 
Continuing operations
$
0.44

$
0.37

$
0.69

$
1.11

$
2.61

Discontinued operations
0.04

1.06

(0.01
)
(0.07
)
1.02

Diluted earnings per ordinary share
$
0.48

$
1.43

$
0.68

$
1.04

$
3.63


 
2016
In millions, except per-share data
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales
$
1,190.0

$
1,301.2

$
1,210.7

$
1,188.1

$
4,890.0

Gross profit
431.3

481.8

440.9

440.1

1,794.1

Operating income
152.7

203.4

182.8

161.8

700.7

Net income from continuing operations
91.8

132.7

117.5

109.6

451.6

Income from discontinued operations, net of tax
15.6

10.1

22.9

21.4

70.0

Gain from sale of discontinued operations, net of tax
—

—

0.6

—

0.6

Net income
107.4

142.8

141.0

131.0

522.2

Earnings per ordinary share (1)
 
 
 
 
 
Basic
 
 
 
 
 
Continuing operations
$
0.50

$
0.73

$
0.65

$
0.60

$
2.49

Discontinued operations
0.09

0.06

0.13

0.12

0.39

Basic earnings per ordinary share
$
0.59

$
0.79

$
0.78

$
0.72

$
2.88

Diluted
 
 
 
 
 
Continuing operations
$
0.50

$
0.73

$
0.64

$
0.60

$
2.47

Discontinued operations
0.09

0.05

0.13

0.11

0.38

Diluted earnings per ordinary share
$
0.59

$
0.78

$
0.77

$
0.71

$
2.85

(1)
Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period.
Fourth quarter 2017 includes decreases in operating income due to $30.7 million of separation costs, $25.2 million of trade name and other impairment charges and $1.6 million of "mark-to-market" actuarial losses on pension and other post-retirement benefit plans. Second quarter 2017 includes decreases in net income from continuing operations due to a $101.4 million loss on early extinguishment of debt. First quarter 2017 includes decreases in operating income due to $20.9 million of restructuring and other costs. Fourth quarter 2016 includes decreases in operating income due to trade name impairment charges of $13.3 million in Electrical and "mark-to-market" actuarial losses on pension and other post-retirement benefit plans of $4.2 million.