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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)

The following table presents financial data for each quarter in 2017 and 2016:

 
 
2017
(in millions, except per share data)
 
First
 
Second
 
Third
 
Fourth
Net sales
 
$
328.0

 
$
371.1

 
$
380.4

 
$
365.9

Gross profit
 
123.0

 
137.2

 
143.9

 
132.8

Net earnings
 
5.0

 
30.1

 
33.1

 
65.8

Per share data
 


 
 
 
 
 
 
Earnings per share — Basic
 
$
0.04

 
$
0.22

 
$
0.24

 
$
0.47

Earnings per share — Diluted
 
$
0.04

 
$
0.21

 
$
0.24

 
$
0.47


 
 
2016
(in millions, except per share data)
 
First
 
Second
 
Third
 
Fourth
Net sales
 
$
325.5

 
$
368.4

 
$
384.0

 
$
378.7

Gross profit
 
117.6

 
134.7

 
142.0

 
138.5

Net earnings
 
18.1

 
15.1

 
24.9

 
21.4

Per share data (1)
 
 

 
 

 
 

 
 

Earnings per share — Basic
 
$
0.13

 
$
0.11

 
$
0.18

 
$
0.15

Earnings per share — Diluted
 
$
0.13

 
$
0.11

 
$
0.18

 
$
0.15


(1) On March 4, 2016, MTW distributed 137.0 million shares of the Company's common stock to MTW shareholders in connection with the Spin-Off. See Note 25, "Earnings Per Share," for more information. Basic and diluted earnings per share and the average number of common shares outstanding were retrospectively restated for the number of the Company's shares outstanding immediately following this transaction.