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Quarterly Financial Data (Tables)
12 Months Ended
Jun. 29, 2013
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Financial Information [Table Text Block]
The following table presents unaudited quarterly consolidated operating results for each of the Company’s last eight fiscal quarters. This information below has been prepared on a basis consistent with the Company’s audited consolidated financial statements.
(in millions, except per share amounts)
 
 
 
 
 
 
 
Fiscal 2013
First
Quarter(2)
 
Second
Quarter(3)
 
Third
Quarter(4)
 
Fourth
Quarter(5)
Net sales (1)
$
769.8

 
$
883.0

 
$
919.8

 
$
967.2

Gross profit (1)
$
285.3

 
$
307.2

 
$
331.4

 
$
356.2

Net income (1)
$
105.6

 
$
106.0

 
$
111.9

 
$
118.5

Earnings per share(1):
 
 
 
 
 
 
 
Basic earnings per share
$
1.13

 
$
1.13

 
$
1.19

 
$
1.26

Diluted earnings per share
$
1.12

 
$
1.12

 
$
1.18

 
$
1.25

Weighted average shares outstanding
 
 
 
 
 
 
 
Basic
93.6

 
93.9

 
94.0

 
94.0

Diluted
94.3

 
94.5

 
94.5

 
94.6


(in millions, except per share amounts)
 
 
 
 
 
 
 
Fiscal 2012
First
Quarter(6)
 
Second
Quarter(7)
 
Third
Quarter(8)
 
Fourth
Quarter(9)(10)
Net sales (1)
$
725.3

 
$
838.2

 
$
778.0

 
$
831.8

Gross profit (1)
$
227.6

 
$
294.9

 
$
279.3

 
$
293.9

Income from continuing operations (1)
$
70.5

 
$
99.7

 
$
115.7

 
$
107.1

Income from discontinued operations, net of tax

 

 

 
8.6

Net income
$
70.5

 
$
99.7

 
$
115.7

 
$
115.7

Earnings per share(1):
 
 
 
 
 
 
 
Basic
 
 
 
 
 
 
 
Continuing operations
$
0.76

 
$
1.07

 
$
1.24

 
$
1.15

Discontinued operations

 

 

 
0.09

Basic earnings per share
$
0.76

 
$
1.07

 
$
1.24

 
$
1.24

Diluted
 
 
 
 
 
 
 
Continuing operations
$
0.75

 
$
1.06

 
$
1.23

 
$
1.14

Discontinued operations

 

 

 
0.09

Diluted earnings per share
$
0.75

 
$
1.06

 
$
1.23

 
$
1.23

Weighted average shares outstanding
 
 
 
 
 
 
 
Basic
92.9

 
93.2

 
93.3

 
93.4

Diluted
94.0

 
94.0

 
94.1

 
94.3

(1)
The sum of quarterly financial data may vary from the annual data due to rounding. The sum of individual per share amounts may not equal due to rounding.
(2)
Includes a pre-tax charge of approximately $1.9 million of acquisition costs associated with the Sergeant's acquisition.
(3)
Includes a pre-tax charge to cost of sales of $7.7 million associated with the step-up in value of inventory related to the Sergeant's acquisition, $1.5 million of severance costs associated with the Cobrek acquisition and a $3.0 million loss on the sale of investment related to Cobrek.
(4)
Includes a pre-tax charge to cost of sales of $1.9 million associated with the step-up in value of inventory related to the Rosemont acquisition, approximately $3.1 million of acquisition costs associated with the Rosemont and Velcera acquisitions and a $1.6 million loss related to the sale of the Company's investment securities.
(5)
Includes a pre-tax charge to cost of sales of $1.2 million associated with the step-up in value of inventory related to the Rosemont acquisition, $5.6 million of restructuring and other integration-related costs associated with the Velcera acquisition and a $9.0 million impairment charge related to the write-off of in-process R&D.
(6)
Includes a pre-tax charge to cost of sales of $27.2 million associated with the step-up in value of inventory related to the Paddock acquisition and approximately $8.8 million of acquisition-related and severance costs associated with the Paddock acquisition.
(7)
Includes $0.6 million of severance costs associated with the Paddock acquisition.
(8)
Includes restructuring costs of $7.1 million associated with the closing of the Company's Florida facility.
(9)
Includes restructuring costs of $1.7 million associated with the closing of the Company's Florida facility.
(10)
Includes a gain on the disposition of the Israel Consumer Products business of $8.6 million.