Results of Operations by Quarter (Unaudited)

12 Months Ended

Dec. 31, 2019

Results of Operations by Quarter (Unaudited)


2019	First		Second		Third		Fourth		Year
Total revenue	$	1,186.9	$	1,174.8	$	1,188.0	$	1,213.5	$	4,763.2
Gross profit	669.9		677.3		719.8		686.1		2,753.1
Operating (loss) profit⁽¹⁾	(3.9)		30.5		97.7		1.3		125.6
(Loss) income from continuing operations, before taxes	(4.5)		21.3		144.4		(22.8)		138.4
(Loss) income from continuing operations, net of tax⁽²⁾	(24.0)		(5.9)		112.9		(47.7)		35.3
Loss from discontinued operations, net of tax	(9.5)		(13.2)		(6.3)		(7.6)		(36.6)
Net loss (income) attributable to noncontrolling interests	.8		(.4)		.3		.3		1.0
Net (loss) income attributable to Avon	$	(32.7)	$	(19.5)	$	106.9	$	(55.0)	$	(0.3)


2018	First		Second		Third		Fourth		Year
Total revenue	$	1,393.5	$	1,351.9	$	1,424.2	$	1,401.7	$	5,571.3
Gross profit	813.8		812.2		885.8		695.5		3,207.3
Operating profit⁽¹⁾	44.9		53.0		186.9		(49.6)		235.2
(Loss) income from continuing operations, before taxes	10.4		(0.3)		182.1		(84.1)		108.1
(Loss) income from continuing operations, net of tax⁽³⁾	(21.1)		(37.0)		113.8		(77.5)		(21.8)

Net (income) loss attributable to noncontrolling interests	.8		.9		.7		(.1)		2.3
Net (loss) income attributable to Avon	$	(20.3)	$	(36.1)	$	114.5	$	(77.6)	$	(19.5)

⁽¹⁾Operating profit (loss) was impacted by the following:


2019	First		Second		Third		Fourth		Year
Certain Brazil indirect taxes	$	—	$	—	$	(67.7)	$	—	$	(67.7)
Costs to implement restructuring initiatives:
Cost of sales	$	4.3	$	8.6	$	(1.0)	$	.6	$	12.5
SG&A expenses	49.2		37.1		18.5		22.0		126.8
Total costs to implement restructuring initiatives	$	53.5	$	45.7	$	17.5	$	22.6	$	139.3

2018	First		Second		Third		Fourth		Year
Brazil IPI tax release	$	—	$	—	$	(168.4)	$	—	$	(168.4)
Costs to implement restructuring initiatives:
Cost of sales	$	.6	$	.5	$	(.1)	$	90.5	$	91.5
SG&A expenses	10.3		23.2		19.9		35.6		89.0
Total costs to implement restructuring initiatives	$	10.9	$	23.7	$	19.8	$	126.1	$	180.5

In addition to the items impacting operating profit (loss) above:

⁽²⁾(Loss) income from continuing operations, net of tax during 2019 was impacted by certain indirect tax items in Brazil of approximately $68.

⁽³⁾(Loss) income from continuing operations, net of tax during 2018 was impacted by one-time tax reserves of approximately $18 associated with our uncertain tax positions, and an expense of approximately $3 associated with the ownership transfer of certain operational assets within the consolidated group.

See Note 17, Restructuring Initiatives, "Results Of Operations - Consolidated" within MD&A, Note 15, Segment Information, Note 1, Description of the Business and Summary of Significant Accounting Policies, Note 14, Employee Benefit Plans, Note 19, Contingencies, Note 8, Debt and Other Financing and Note 10, Income Taxes, in our 2019 Annual report, for more information on these items.