Supplementary Financial Information

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Supplementary Financial Information

Supplementary Financial Information

Prepaid expenses and other current assets consist of the following (in millions):

	December 31,
	2018		2017
Foreign Exchange Contracts	$	16	$	—
Other	38		24
Prepaid expenses and other current assets	$	54	$	24

The components of Accrued liabilities are as follows (in millions):

	December 31,
	2018		2017
Accrued incentive compensation	$	127	$	101
Customer reserves	45		41
Accrued payroll	55		50
Interest payable	5		15
Accrued other expenses	90		89
Accrued liabilities	$	322	$	296

Summary of Quarterly Results of Operations (unaudited, in millions):

	2018
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
Total Net sales	$	977	$	1,012	$	1,092	$	1,137	$	4,218
Gross profit	465		472		505		539		1,981
Net income	109		70		127		115		421
Net earnings per common share:
Basic earnings per share:	$	2.04	$	1.31	$	2.37	$	2.14	$	7.86
Diluted earnings per share:	2.01		1.29		2.34		2.11		7.76

	2017
	First Quarter		Second Quarter		Third Quarter			Fourth Quarter		Total Year
Total Net sales	$	865	$	896	$	935		$	1,026	$	3,722
Gross profit	401		411		429			469		1,710
Net (loss) income	8		17		(12		)	4		17
Net earnings per common share:
Basic (loss) earnings per share:	$	0.16	$	0.33	$	(0.23	)	$	0.07	$	0.33
Diluted (loss) earnings per share:	0.16		0.32		(0.23		)	0.07		0.32