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Unaudited Quarterly Data
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Data Unaudited Quarterly Data

 
 
2019 Quarters
 
 
First
 
Second (a)
 
Third (b)
 
Fourth (c)
 
Year
Net Sales
 
$
239.7

 
$
253.4

 
$
231.8

 
$
213.6

 
$
938.5

Gross Profit
 
43.7

 
50.7

 
44.7

 
44.3

 
183.4

Operating Income (Loss)
 
17.4

 
19.8

 
19.0

 
22.1

 
78.3

Income (Loss) From Continuing Operations
 
11.8

 
13.6

 
14.4

 
15.6

 
55.4

Earnings (Loss) Per Common Share From Continuing Operations:
 
 

 
 

 
 

 
 
 
 

Basic
 
$
0.70

 
$
0.80

 
$
0.85

 
$
0.92

 
$
3.27

Diluted
 
$
0.69

 
$
0.80

 
$
0.84

 
$
0.92

 
$
3.26

_______________________

(a)
Operating income includes idled paper machine costs of $2.0 million, indirect tax audit costs for 2012-15 of $0.6 million, and restructuring and other non-routine costs of $0.9 million.
(b)
Operating income includes idled paper machine costs of $2.4 million, indirect tax audit costs for 2012-15 of $0.1 million, a favorable adjustment to restructuring and other non-routine costs of $0.2 million, and a SERP settlement charge of $0.1 million.
(c)
Operating income includes idled paper machine costs of $0.3 million, a pension plan curtailment gain of $1.6 million, and a pension plan curtailment charge of $0.1 million.


 
 
2018 Quarters
 
 
First (d)
 
Second (e)
 
Third (f)
 
Fourth (g)
 
Year
Net Sales
 
$
266.5

 
$
271.3

 
$
256.2

 
$
240.9

 
$
1,034.9

Gross Profit
 
52.4

 
55.1

 
41.3

 
34.6

 
183.4

Operating Income
 
24.1

 
(4.3
)
 
16.5

 
17.8

 
54.1

Income From Continuing Operations
 
16.2

 
(4.8
)
 
12.9

 
12.9

 
37.2

Earnings Per Common Share From Continuing Operations:
 
 

 
 

 
 

 
 

 
 

Basic
 
$
0.96

 
$
(0.29
)
 
$
0.76

 
$
0.77

 
$
2.20

Diluted
 
$
0.95

 
$
(0.29
)
 
$
0.75

 
$
0.76

 
$
2.17

_______________________


(d)
Income from continuing operations includes an unfavorable prior year tax adjustment of $0.9 million related to one-time taxes on foreign earnings under the Tax Act and an after-tax SERP settlement charge of $0.6 million.
(e)
Operating loss includes an impairment loss of $32.0 million, pension settlement charges of $1.0 million and integration and restructuring charges of $0.3 million.
(f)
Operating income includes a favorable acquisition-related adjustment of $3.1 million, a favorable insurance settlement of $0.4 million, and unfavorable adjustments to the impairment loss of $2.0 million and $2.2 million of integration and restructuring charges.
(g)
Operating income includes favorable adjustments to the impairment loss of $2.9 million and $0.4 million to integration and restructuring costs and a favorable acquisition-related adjustment of $0.8 million. Income from continuing operations includes a favorable tax adjustment related to a Netherlands tax rate change of $0.7 million.