Results of Operations by Quarter

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Results of Operations by Quarter

Results of Operations by Quarter (Unaudited)

2011	First (1)			Second			Third			Fourth (1)			Year
Total revenue	$	2,629.1		$	2,856.4		$	2,762.4		$	3,043.7		$	11,291.6
Gross profit	1,679.3			1,838.4			1,764.1			1,861.2			7,143.0
Operating profit (2)	246.5			316.6			278.6			12.9			854.6
Income (loss) from continuing operations, before tax	224.9			293.7			241.3			(17.3		)	742.6
Income from continuing operations, net of tax	152.2			208.7			165.2			.3			526.4
Discontinued operations, net of tax	(8.6		)	—			—			—			(8.6		)
Net income attributable to noncontrolling interest	—			(2.5		)	(1.0		)	(.7		)	(4.2		)
Net income (loss) attributable to Avon	143.6			206.2			164.2			(.4		)	513.6
Earnings (loss) per share from continuing operations
Basic	$	.35		$	.48		$	.38		$	—		$	1.20		(3)
Diluted	$	.35		$	.47		$	.38		$	—		$	1.20		(3)

2010	First			Second			Third			Fourth (1)		Year
Total revenue	$	2,446.3		$	2,628.5		$	2,612.4		$	3,175.6	$	10,862.8
Gross profit	1,511.6			1,666.4			1,679.4			1,964.1		6,821.5
Operating profit (2)	191.5			266.4			259.3			355.9		1,073.1
Income from continuing operations, before tax	126.3			249.1			236.1			333.9		945.4
Income from continuing operations, net of tax	42.7			165.0			167.2			220.3		595.2
Discontinued operations, net of tax	.6			4.2			.3			9.0		14.1
Net (income) loss attributable to noncontrolling interest	(.8		)	(1.6		)	(.8		)	.2		(3.0		)
Net income attributable to Avon	42.5			167.6			166.7			229.5		606.3
Earnings per share from continuing operations
Basic	$	.10		$	.38		$	.38		$	.51	$	1.37		(3)
Diluted	$	.10		$	.38		$	.38		$	.50	$	1.36		(3)

(1) As discussed in Note 1, Description of the Business and Summary of Significant Accounting Policies, we recorded out-of-period adjustments during the first quarter of 2011 associated with Discontinued operations, net of tax for prior periods resulting in a charge of approximately $9, which would have decreased Discontinued operations, net of tax during the fourth quarter of 2010 by approximately $13 and increased a prior period by approximately $4.

During the fourth quarter of 2011, we recorded adjustments of approximately $25 before tax ($17 after tax) of which approximately $14 before tax ($10 after tax) related to prior quarters of 2011 and was primarily associated with inventory in our Brazil operations. The remaining fourth quarter out-of-period adjustments of approximately $11 before tax ($7 after tax) related to prior years.

During the other quarters of 2011, we also recorded out-of-period adjustments in the aggregate of approximately $10 before tax ($7 after tax) that related to prior years.

We evaluated the out-of-period adjustments, both individually and in the aggregate, in relation to the periods in which they were corrected, as well as the periods in which they originated and concluded that these adjustments are immaterial to both the consolidated quarterly and annual financial statements for all impacted periods.

(2) Operating profit by quarter was impacted by the following:

2011	First		Second		Third		Fourth		Year
Costs to implement restructuring initiatives:
Cost of sales	$	1.2	$	3.5	$	3.5	$	3.0	$	11.2
Selling, general and administrative expenses	13.5		8.5		1.1		5.7		28.8
Total costs to implement restructuring initiatives	$	14.7	$	12.0	$	4.6	$	8.7	$	40.0
Impairment of Silpada goodwill and intangible asset	$	—	$	—	$	—	$	263.0	$	263.0
2010	First		Second		Third		Fourth		Year
Costs to implement restructuring initiatives:
Cost of sales	$	2.5	$	2.2	$	2.2	$	2.6	$	9.5
Selling, general and administrative expenses	2.7		8.2		4.6		55.7		71.2
Total costs to implement restructuring initiatives	$	5.2	$	10.4	$	6.8	$	58.3	$	80.7
Venezuelan special items	$	39.1	$	33.4	$	7.0	$	—	$	79.5

(3) The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.