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SELECTED QUARTERLY FINANCIAL DATA SELECTED QUARTERLY FINANCIAL DATA
 12 Months Ended
Dec. 30, 2017
Quarterly Financial Information [Text Block]
SELECTED QUARTERLY FINANCIAL DATA (unaudited) 
 
 
Quarter
 
 
(Millions of Dollars, except per share amounts)
 
First
 
Second
 
Third
 
Fourth
 
Year
2017
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
2,805.6

 
$
3,229.5

 
$
3,298.6

 
$
3,413.5

 
$
12,747.2

Gross profit
 
1,065.3

 
1,212.2

 
1,252.1

 
1,248.4

 
4,778.0

Selling, general and administrative (1)
 
684.7

 
738.7

 
763.4

 
793.3

 
2,980.1

Earnings from continuing operations
 
393.1

 
277.2

 
274.2

 
281.1

 
1,225.6

Less: Net loss attributable to non-controlling interest
 
—

 
—

 
—

 
(0.4
)
 
(0.4
)
Net Earnings Attributable to Common Shareowners
 
$
393.1

 
$
277.2

 
$
274.2

 
$
281.5

 
$
1,226.0


 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
 
$
2.63

 
$
1.85

 
$
1.83

 
$
1.88

 
$
8.19

Diluted earnings per common share
 
$
2.59

 
$
1.82

 
$
1.80

 
$
1.84

 
$
8.04

2016
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
2,672.1

 
$
2,932.4

 
$
2,882.0

 
$
2,920.4

 
$
11,406.9

Gross profit
 
977.6

 
1,128.9

 
1,084.1

 
1,076.6

 
4,267.2

Selling, general and administrative (1)
 
627.8

 
666.9

 
645.4

 
683.8

 
2,623.9

Earnings from continuing operations
 
188.6

 
271.5

 
249.0

 
255.8

 
964.9

Less: Net (loss) earnings attributable to non-controlling interest
 
(0.8
)
 
—

 
0.1

 
0.3

 
(0.4
)
Net Earnings Attributable to Common Shareowners
 
$
189.4

 
$
271.5

 
$
248.9

 
$
255.5

 
$
965.3


 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
 
$
1.30

 
$
1.87

 
$
1.71

 
$
1.74

 
$
6.61

Diluted earnings per common share
 
$
1.28

 
$
1.84

 
$
1.68

 
$
1.71

 
$
6.51

(1) Includes provision for doubtful accounts.

The 2017 year-to-date results above include $156 million of pre-tax acquisition-related charges, a $264 million pre-tax gain on sales of businesses, primarily related to the sale of the mechanical security businesses in the first quarter, and a one-time net tax charge of $24 million recorded in the fourth quarter related to the recently enacted U.S. tax legislation. The net impact of the above items and effect on diluted earnings per share by quarter was as follows:
 
Acquisition-Related Charges & Other
  
Diluted EPS Impact
• Q1 2017 —   $211 million gain ($197 million after-tax)
  
$1.30 per diluted share
• Q2 2017 —   $43 million loss ($29 million after-tax)
  
($0.20) per diluted share
• Q3 2017 —   $33 million loss ($24 million after-tax)
  
($0.16) per diluted share
• Q4 2017 —   $27 million loss ($53 million after-tax)
  
($0.34) per diluted share