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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2016
QUARTERLY FINANCIAL DATA (UNAUDITED)  
Quarterly financial data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

First

    

Second

    

Third

    

Fourth

    

 

 

 

(millions, except per share)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Year

2016

    

    

 

 

    

 

 

    

 

 

    

 

 

    

 

    

Net sales

 

 
$
3,097.4

 

 
$
3,317.2

 

 
$
3,386.1

 

 
$
3,352.1

 

 
$
13,152.8

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (a)

 

 
1,631.4

 

 
1,785.2

 

 
1,737.2

 

 
1,745.1

 

 
6,898.9

 

Selling, general and administrative expenses

 

 
1,088.2

 

 
1,093.3

 

 
1,071.6

 

 
1,046.3

 

 
4,299.4

 

Special (gains) and charges

 

 
6.3

 

 
26.2

 

 
3.2

 

 
3.8

 

 
39.5

 

Operating income

 

 
371.5

 

 
412.5

 

 
574.1

 

 
556.9

 

 
1,915.0

 

Interest expense, net

 

 
66.1

 

 
65.3

 

 
64.9

 

 
68.3

 

 
264.6

 

Income before income taxes

 

 
305.4

 

 
347.2

 

 
509.2

 

 
488.6

 

 
1,650.4

 

Provision for income taxes

 

 
73.4

 

 
83.6

 

 
129.7

 

 
116.6

 

 
403.3

 

Net income including noncontrolling interest

 

 
232.0

 

 
263.6

 

 
379.5

 

 
372.0

 

 
1,247.1

 

Net income attributable to noncontrolling interest

 

 
1.2

 

 
5.2

 

 
5.4

 

 
5.7

 

 
17.5

 

Net income attributable to Ecolab

 

 
$
230.8

 

 
$
258.4

 

 
$
374.1

 

 
$
366.3

 

 
$
1,229.6

 

Earnings attributable to Ecolab per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
$
0.78

 

 
$
0.88

 

 
$
1.28

 

 
$
1.26

 

 
$
4.20

 

Diluted

 

 
$
0.77

 

 
$
0.87

 

 
$
1.27

 

 
$
1.24

 

 
$
4.14

 

Weighted-average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
294.4

 

 
292.4

 

 
291.6

 

 
291.7

 

 
292.5

 

Diluted

 

 
298.3

 

 
296.5

 

 
295.7

 

 
295.5

 

 
296.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 
$
3,297.6

 

 
$
3,389.1

 

 
$
3,446.4

 

 
$
3,412.0

 

 
$
13,545.1

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (a)

 

 
1,765.3

 

 
1,806.5

 

 
1,820.0

 

 
1,831.7

 

 
7,223.5

 

Selling, general and administrative expenses

 

 
1,136.8

 

 
1,079.2

 

 
1,070.7

 

 
1,058.8

 

 
4,345.5

 

Special (gains) and charges

 

 
7.8

 

 
65.6

 

 
142.7

 

 
198.7

 

 
414.8

 

Operating income

 

 
387.7

 

 
437.8

 

 
413.0

 

 
322.8

 

 
1,561.3

 

Interest expense, net

 

 
62.5

 

 
61.2

 

 
57.6

 

 
62.3

 

 
243.6

 

Income before income taxes

 

 
325.2

 

 
376.6

 

 
355.4

 

 
260.5

 

 
1,317.7

 

Provision for income taxes

 

 
89.8

 

 
67.8

 

 
105.3

 

 
37.6

 

 
300.5

 

Net income including noncontrolling interest

 

 
235.4

 

 
308.8

 

 
250.1

 

 
222.9

 

 
1,017.2

 

Net income (loss) attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

noncontrolling interest (b)

 

 
2.0

 

 
6.8

 

 
(7.7)

 

 
14.0

 

 
15.1

 

Net income attributable to Ecolab

 

 
$
233.4

 

 
$
302.0

 

 
$
257.8

 

 
$
208.9

 

 
$
1,002.1

 

Earnings attributable to Ecolab per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
$
0.78

 

 
$
1.02

 

 
$
0.87

 

 
$
0.71

 

 
$
3.38

 

Diluted

 

 
$
0.77

 

 
$
1.00

 

 
$
0.86

 

 
$
0.69

 

 
$
3.32

 

Weighted-average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
298.2

 

 
296.2

 

 
295.2

 

 
295.8

 

 
296.4

 

Diluted

 

 
303.2

 

 
301.1

 

 
300.0

 

 
300.6

 

 
301.4

 

 

Per share amounts do not necessarily sum due to changes in the calculation of shares outstanding for each discrete period and rounding.

 

(a)

Cost of sales includes special charges of $61.9 and $4.1 in Q2 and Q4 of 2016, respectively and $0.6,  $11.0,  $23.8 and $45.2 in Q1, Q2, Q3 and Q4 of 2015, respectively.

Net income (loss) attributable to noncontrolling interest includes special charges of $11.1 and $1.7 in Q3 and Q4 of 2015, respectively.