
	First		Second		Third		Fourth
(millions, except per share)	Quarter		Quarter		Quarter		Quarter		Year
2018
Net sales		$3,470.9		$3,689.6		$3,747.2		$3,760.5		$14,668.2
Operating expenses
Cost of sales (a)		2,072.3		2,146.1		2,190.7		2,216.8		8,625.9
Selling, general and administrative expenses		1,018.3		1,036.8		964.7		948.8		3,968.6
Special (gains) and charges		26.0		12.1		75.6		13.0		126.7
Operating income		354.3		494.6		516.2		581.9		1,947.0
Other (income) expense		(19.4)		(19.6)		(21.0)		(19.9)		(79.9)
Interest expense, net (a)		56.4		56.3		55.7		53.9		222.3
Income before income taxes		317.3		457.9		481.5		547.9		1,804.6
Provision for income taxes		69.1		104.3		43.2		147.7		364.3
Net income including noncontrolling interest		248.2		353.6		438.3		400.2		1,440.3
Net income attributable to noncontrolling interest		0.9		2.3		2.9		5.1		11.2
Net income attributable to Ecolab		$247.3		$351.3		$435.4		$395.1		$1,429.1
Earnings attributable to Ecolab per common share
Basic		$ 0.86		$ 1.22		$ 1.51		$ 1.37		$ 4.95
Diluted		$ 0.84		$ 1.20		$ 1.48		$ 1.35		$ 4.88
Weighted-average common shares outstanding
Basic		288.6		288.8		288.8		288.0		288.6
Diluted		292.7		293.3		293.4		292.2		292.8

2017
Net sales		$3,162.4		$3,460.0		$3,564.5		$3,649.0		$13,835.9
Operating expenses
Cost of sales (a)		1,842.9		2,036.6		2,055.7		2,129.0		8,064.2
Selling, general and administrative expenses		956.1		967.0		939.8		962.4		3,825.3
Special (gains) and charges		6.2		36.8		4.9		(51.6)		(3.7)
Operating income		357.2		419.6		564.1		609.2		1,950.1
Other (income) expense		(16.8)		(16.8)		(16.9)		(16.8)		(67.3)
Interest expense, net (a)		62.5		59.6		55.1		77.8		255.0
Income before income taxes		311.5		376.8		525.9		548.2		1,762.4
Provision for income taxes		54.2		80.5		129.3		(20.2)		243.8
Net income including noncontrolling interest		257.3		296.3		396.6		568.4		1,518.6
Net income attributable to noncontrolling interest		3.3		1.5		3.4		5.8		14.0
Net income attributable to Ecolab		$254.0		$294.8		$393.2		$562.6		$1,504.6
Earnings attributable to Ecolab per common share
Basic		$ 0.87		$ 1.02		$ 1.36		$ 1.95		$ 5.20
Diluted		$ 0.86		$ 1.00		$ 1.34		$ 1.92		$ 5.12
Weighted-average common shares outstanding
Basic		290.6		289.8		289.0		289.1		289.6
Diluted		295.0		294.1		293.4		293.6		294.0

Per share amounts do not necessarily sum due to changes in the calculation of shares outstanding for each discrete period and rounding. Gross profit is calculated as net sales minus cost of sales. The Company has conformed prior quarters with current accounting policies. There was no impact to net sales or operating income.

Cost of sales includes special charges of $(0.1), $3.6 and $5.8 million in Q2, Q3 and Q4 of 2018, respectively and $1.5, $24.4, $0.3, and $17.8 million in Q1, Q2, Q3 and Q4 of 2017, respectively. Net interest expense includes special charges of $0.3 million in Q4 of 2018 and $21.9 million in Q4 of 2017.