Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

20. Quarterly Financial Information (Unaudited)

(in millions, except per share data)
	2017 Quarter Ended								2016 Quarter Ended
	Mar		Jun		Sep		Dec		Mar		Jun			Sep		Dec
Net sales	$	1,977.3	$	1,954.4	$	1,818.1	$	2,074.3	$	1,904.0	$	1,934.0		$	1,832.8	$	2,013.1
Gross profit		1,312.4		1,279.0		1,164.5		1,331.4		1,136.8		1,160.1			1,189.2		1,250.1
Net earnings (loss) of Zimmer    Biomet Holdings, Inc.		299.4		184.2		98.8		1,231.4		108.8		(31.3	)		158.8		69.6
Earnings (loss) per common    share
Basic		1.49		0.91		0.49		6.08		0.54		(0.16	)		0.79		0.35
Diluted		1.47		0.90		0.48		6.03		0.54		(0.16	)		0.78		0.34

In the three month period ended December 31, 2017, we recognized a $1,272.4 million income tax benefit related to the 2017 Tax Act.  The benefit was partially offset by a $272.0 million goodwill impairment charge related to our Spine reporting unit.

In the three month period ended September 30, 2016, we recognized $21.0 million of tax benefits and $12.2 million of pre-tax operating expenses that were related to previous periods.  The majority of the tax benefits were related to adjusting certain Biomet purchase accounting values.  In the three month period ended December 31, 2016, we recognized $13.0 million of tax provisions that were related to previous periods.  

We have evaluated the effect of these out-of-period adjustments on the applicable interim and annual periods of 2016 and prior years in which they should have been recognized, and concluded for both quantitative and qualitative reasons that these adjustments were not material to any of the periods affected.