Selected Quarterly Financial Results

12 Months Ended

Dec. 31, 2014

Selected Quarterly Financial Results (unaudited)



(in millions, except per-share amounts)	2014
	First Quarter		Second Quarter		Third Quarter			Fourth Quarter
Net Sales Detail:
Corporate:
Medium/Large	$	1,274.8	$	1,395.4	$	1,374.8		$	1,440.3
Small Business	230.8		260.8		247.9			250.7
Total Corporate	1,505.6		1,656.2		1,622.7			1,691.0
Public:
Government	254.2		313.1		441.3			440.8
Education	321.6		527.0		632.8			342.6
Healthcare	394.1		431.5		394.7			385.7
Total Public	969.9		1,271.6		1,468.8			1,169.1
Other	176.8		178.2		174.6			190.0
Net sales	$	2,652.3	$	3,106.0	$	3,266.1		$	3,050.1
Gross profit	$	425.2	$	496.9	$	507.3		$	491.9
Income from operations	135.8		188.2		184.7			164.3
Net income	50.9		86.6		55.6			51.8
Net income per common share ⁽¹⁾:
Basic	0.30		0.51		0.33			$	0.30
Diluted	0.30		0.50		0.32			$	0.30

(in millions, except per-share amounts)	2013
	First Quarter		Second Quarter		Third Quarter			Fourth Quarter
Net Sales Detail:
Corporate:
Medium/Large ⁽²⁾	$	1,180.5	$	1,308.5	$	1,241.3		$	1,322.3
Small Business ⁽²⁾	223.4		228.9		224.5			230.7
Total Corporate	1,403.9		1,537.4		1,465.8			1,553.0
Public:
Government	252.3		295.7		375.3			327.3
Education	232.2		420.6		513.4			282.8
Healthcare	362.3		366.3		355.9			380.4
Total Public	846.8		1,082.6		1,244.6			990.5
Other	161.0		159.3		153.9			169.8
Net sales	$	2,411.7	$	2,779.3	$	2,864.3		$	2,713.3
Gross profit	$	402.0	$	451.6	$	458.4		$	448.3
Income from operations ⁽³⁾	120.1		153.6		92.9			142.0
Net income (loss)⁽³⁾	28.3		46.7		(2.2		)	60.0
Net income (loss) per common share ⁽¹⁾⁽³⁾:
Basic	0.19		0.32		(0.01		)	0.35
Diluted	0.19		0.32		(0.01		)	0.35


(1)	Basic and diluted net income (loss) per share are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted net income (loss) per share.


(2)	Net sales for the corporate channels (medium/large and small business) have been restated for all periods presented above to conform with the new corporate hierarchy presented for first quarter of 2014.


(3)	The third quarter of 2013 included pre-tax IPO-related charges of $74.1 million. See Note 9 for additional discussion of the IPO.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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