SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED) - (Notes)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED)

SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED)

The Company operates on a calendar year and for its interim periods operates on a 4-4-5 fiscal calendar, where each fiscal quarter is comprised of two 4-week periods and one 5-week period, with each week ending on a Saturday. The Company’s fiscal year always begins on January 1 and ends on December 31. As a result, the Company’s first and fourth quarters may have more or less days included than a traditional 4-4-5 fiscal calendar, which consists of 91 days.

The table that follows summarizes unaudited quarterly financial data for 2013:

	For the Quarter Ended
	March 30			June 29		September 28		December 31
	(Dollar amounts in millions, except per share data)
2013
Net sales	$	519.1		$	630.7	$	589.2	$	548.9
Gross profit	141.5			189.1		175.1		154.8
Selling, general and administrative expense, net	125.6			135.1		129.4		131.2
Depreciation expense	9.0			9.8		9.8		12.0
Amortization expense (1)	11.5			16.5		13.2		13.4
Operating earnings	4.6			40.4		32.5		10.4
Net (loss) earnings	(15.1		)	11.5		4.2		(8.9		)
Net (loss) earnings per share:
Basic (loss) earnings per share	$	(0.98	)	$	0.75	$	0.27	$	(0.58	)
Diluted (loss) earnings per share	$	(0.98	)	$	0.73	$	0.27	$	(0.58	)

(1) Includes increases to cost of goods sold for inventory acquired in business combinations.

The table that follows summarizes unaudited quarterly financial data for 2012:

	For the Quarter Ended
	March 31			June 30		September 29		December 31
	(Dollar amounts in millions, except per share data)
2012
Net sales	$	522.8		$	615.7	$	557.4	$	505.4
Gross profit	146.0			183.8		158.4		152.2
Selling, general and administrative expense, net	110.1			119.1		113.6		125.7
Depreciation expense	9.3			9.4		10.3		9.5
Amortization expense (1)	11.0			11.3		11.4		11.5
Operating earnings	24.9			53.7		33.8		15.2
Net (loss) earnings	(1.2		)	18.5		4.7		(12.5		)
Net (loss) earnings per share:
Basic (loss) earnings per share	$	(0.08	)	$	1.22	$	0.31	$	(0.82	)
Diluted (loss) earnings per share	$	(0.08	)	$	1.19	$	0.30	$	(0.82	)

(1) Includes increases to cost of goods sold for inventory acquired in business combinations.

See Note 5, "Exit & Disposal Activities", Note 6, “Commitments and Contingencies”, Note 8, “Income Taxes”, and Note 14, "Retirement of Former Chief Executive Officer", as well as Management’s Discussion and Analysis of Financial Condition and Results of Operations, Item 7 of Part II, to this report, regarding certain other quarterly transactions which impact the operating results in the above tables, including financing activities, new accounting pronouncements, income taxes, acquisitions, sales volume, material costs, rationalization and relocation of manufacturing operations, material procurement strategies and other items.