Quarterly Results of Operations

12 Months Ended

Dec. 31, 2019

Quarterly Results of Operations

18. Quarterly Results of Operations (Unaudited)

(dollars in millions, except per share amounts)
	1st Quarter				2nd Quarter				3rd Quarter				4th Quarter
	2019		2018		2019		2018		2019		2018		2019		2018
Net sales	$	748.2	$	788.0	$	765.4	$	833.3	$	728.2	$	754.1	$	750.9	$	812.5
Gross profit		292.8		321.5		308.7		341.0		284.2		306.0		295.0		337.0
Net earnings		89.3		98.8		102.1		114.5		87.3		104.6		91.3		126.3
Basic earnings per share		0.53		0.58		0.61		0.67		0.53		0.61		0.56		0.75
Diluted earnings per share		0.53		0.57		0.61		0.66		0.53		0.61		0.56		0.74
Common dividends declared		0.22		0.18		0.22		0.18		0.22		0.18		0.24		0.22

Net earnings per share are computed separately for each period, and therefore, the sum of such quarterly per share amounts may differ from the total for the year.

In the first quarter of 2018, the Company recorded $6.7 million of restructuring and impairment expenses associated with a move of manufacturing operations from its Renton, Washington facility to other U.S. facilities. These charges reduced after-tax earnings by $5.0 million or $0.03 per share.