The following is a summary of our unaudited quarterly results of operations for 2013 and 2012.


	Quarter
	First			Second			Third			Fourth
	(In thousands, except share data)
2013
Net sales	$	2,292,430		$	2,227,542		$	2,200,899		$	2,295,450
Gross profit		495,232			472,300			441,285			445,770
Income (loss) from continuing operations		(20,740	)		(32,057	)		415,518			(37,362	)
Net income (loss) (1)(4)		495,797			(53,883	)		415,120			(37,677	)
Net income (loss) attributable to Dean Foods Company(1)		492,605			(56,870	)		415,120			(37,677	)
Earnings (loss) per common share from continuing operations(2) (6):
Basic		(0.22	)		(0.34	)		4.41			(0.40	)
Diluted		(0.22	)		(0.34	)		4.36			(0.40	)
	Quarter
	First			Second			Third			Fourth
	(In thousands, except share data)
2012
Net sales	$	2,347,722		$	2,234,841		$	2,236,969		$	2,455,130
Gross profit		531,144			539,902			508,410			515,803
Income (loss) from continuing operations		(1,358	)		19,603			(2,192	)		7,762
Net income(1)(5)		37,883			56,165			36,441			30,552
Net income attributable to Dean Foods Company(1)		37,883			56,165			36,441			28,133
Earnings (loss) per common share from continuing operations (2) (6):
Basic		(0.01	)		0.21			(0.02	)		0.08
Diluted		(0.01	)		0.21			(0.02	)		0.08

(1)	The results for the first, second, third and fourth quarters of 2013 include facility closing and reorganization costs, net of tax, of $3.6 million, $3.2 million, $4.7 million and $5.9 million, respectively. See Note 17.

(2)	Earnings (loss) per common share calculations for each of the quarters were based on the basic and diluted weighted average number of shares outstanding for each quarter. The sum of the quarters may not necessarily be equal to the full year earnings (loss) per common share amount.

(3)	The results for the first, second, third and fourth quarters of 2012 include facility closing and reorganization costs, net of tax, of $16.2 million, $4.2 million, $4.2 million and $11.3 million, respectively. See Note 17.

(4)

Results for 2013 include a gain of $415.8 million related to the disposition of our remaining investment in WhiteWave common stock, a charge of $22.9 million, net of tax, related to impairments of property, plant & equipment (Note 17), a charge of $5.1 million, net of tax, related to impairments of intangible assets (Note 7), and a loss of $38.7 million, net of tax, related to the early retirement of a portion of our senior notes due 2018 and senior notes due 2016 (Note 10).

(5)	Results for 2012 include a net after-tax loss of $10.4 million related to the July 3, 2012 sale of our investment in CCC. See Note 4.

(6)	Basic and diluted earnings (loss) per common share for the first and second quarters of 2013 and for each of the quarters in the year ended December 31, 2012 have been adjusted retroactively to reflect a 1-for-2 reverse stock split effected August 26, 2013.