Quarterly Financial Information (unaudited)

12 Months Ended

Jan. 02, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (unaudited)

Note 22—Quarterly Financial Information (unaudited)

Year ended January 2, 2016

(in millions of U.S. dollars, except per share amounts)

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter¹

Total

Revenue, net

709.8

779.8

755.6

698.8

2,944.0

Cost of sales

508.5

539.2

523.1

477.7

2,048.5

Gross profit

201.3

240.6

232.5

221.1

895.5

SG&A expenses

188.5

190.2

196.2

193.7

768.6

Loss on disposal of property, plant and equipment

1.4

0.2

1.1

4.2

6.9

Restructuring

—

Asset impairments

—

Acquisition and integration expenses

4.7

4.1

6.6

5.2

20.6

Operating income

6.7

46.1

28.6

18.0

99.4

Net (loss) income attributed to Cott Corporation

(6.0

)

2.2

4.8

(4.4

)

(3.4

)

Per share data:

Net (loss) income per common share

Basic

(0.06

)

0.02

0.04

(0.04

)

(0.03

)

Diluted

(0.06

)

0.02

0.04

(0.04

)

(0.03

)

^1.

During the fourth quarter of the fiscal year ended January 2, 2016, we decreased cost of sales, SG&A and income tax benefit by $4.8 million, $0.2 million and $1.9 million, respectively, as a result of a measurement period adjustment associated with the DSS Acquisition, of which $0.2 million of the total change in cost of sales and less than $0.1 million of the total change in SG&A expenses and income tax benefit, respectively, related to the prior year and with the remainder related to the nine months ended October 3, 2015 (see Note 2 to the Consolidated Financial Statements).


	Year ended January 3, 2015
	First			Second			Third			Fourth
(in millions of U.S. dollars, except per share amounts)	Quarter			Quarter			Quarter			Quarter			Total
Revenue, net	$	475.1		$	549.2		$	535.0		$	543.5		$	2,102.8
Cost of sales		418.9			470.2			465.5			471.7			1,826.3

Gross profit		56.2			79.0			69.5			71.8			276.5
SG&A expenses		46.9			50.7			49.9			66.2			213.7
Loss (gain) on disposal of property, plant & equipment		0.1			(0.1	)		0.4			1.3			1.7
Restructuring		2.2			0.1			0.1			—			2.4
Asset impairments		1.6			0.3			(0.2	)		—			1.7
Acquisition and integration expenses		1.1			1.8			0.5			37.9			41.3

Operating income (loss)		4.3			26.2			18.8			(33.6	)		15.7

Net (loss) income attributed to Cott Corporation	$	(4.1	)	$	(5.9	)	$	1.3		$	18.7		$	10.0

Per share data:
Net (loss) income per common share
Basic	$	(0.04	)	$	(0.06	)	$	0.01		$	0.20		$	0.11

Diluted	$	(0.04	)	$	(0.06	)	$	0.01		$	0.19		$	0.10