XML 35 R28.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Summary Information (Unaudited)
(In millions, except per share amounts)
March 31(2)
 
June 30
 
September 30
 
December 31(3)
2019
 
 
 
 
 
 
 
Net sales
$
469.5

 
$
513.6

 
$
470.5

 
$
504.5

Gross profit
188.6

 
209.4

 
191.0

 
204.7

Net income (loss)
24.6

 
76.4

 
53.8

 
(28.1
)
Net income (loss) attributable to W. R. Grace & Co. shareholders
24.7

 
76.2

 
53.7

 
(28.3
)
Net income (loss) per share:(1)
 
 
 
 
 
 
 
Basic earnings (loss) per share:
$
0.37

 
$
1.14

 
$
0.81

 
$
(0.42
)
Diluted earnings (loss) per share:
0.37

 
1.14

 
0.80

 
(0.42
)
Dividends declared per share
0.27

 
0.27

 
0.27

 
0.27

___________________________________________________________________________________________________________________
(1)
Per share results for the four quarters may differ from full-year per share results, as a separate computation of the weighted average number of shares outstanding is made for each quarter presented.
(2)
First quarter “net income (loss),” “net income (loss) attributable to W. R. Grace & Co. shareholders,” and the related earnings per share data include the effects of a pre-tax charge of $45.0 million for the estimated costs to construct a new dam spillway at the former vermiculite mine site in Libby, Montana.
(3)
Fourth quarter “net income (loss),” “net income (loss) attributable to W. R. Grace & Co. shareholders,” and the related earnings per share data include the effects of the annual pension mark-to-market adjustment, as well as charges related to legacy items (see Note 10).
(In millions, except per share amounts)
March 31
 
June 30
 
September 30(2)
 
December 31(3)
2018
 
 
 
 
 
 
 
Net sales
$
431.5

 
$
485.7

 
$
494.9

 
$
520.0

Gross profit
169.5

 
198.7

 
202.2

 
196.3

Net income (loss)
43.4

 
38.6

 
15.9

 
68.9

Net income (loss) attributable to W. R. Grace & Co. shareholders
43.6

 
38.8

 
16.1

 
69.1

Net income (loss) per share:(1)
 
 
 
 
 
 
 
Basic earnings (loss) per share:
$
0.64

 
$
0.58

 
$
0.24

 
$
1.03

Diluted earnings (loss) per share:
0.64

 
0.58

 
0.24

 
1.03

Dividends declared per share
0.24

 
0.24

 
0.24

 
0.24

___________________________________________________________________________________________________________________
(1)
Per share results for the four quarters may differ from full-year per share results, as a separate computation of the weighted average number of shares outstanding is made for each quarter presented.
(2)
Third quarter “net income (loss),” “net income (loss) attributable to W. R. Grace & Co. shareholders,” and the related earnings per share data include the effects of a pre-tax charge of $70.0 million for the estimated costs of future remediation-related activities at the former vermiculite mine site in Libby, Montana.
(3)
Fourth quarter “net income (loss),” “net income (loss) attributable to W. R. Grace & Co. shareholders,” and the related earnings per share data include the effects of the annual pension mark-to-market adjustment.