XML 87 R30.htm IDEA: XBRL DOCUMENT v3.20.2
QUARTERLY FINANCIAL DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2019
QUARTERLY FINANCIAL DATA (UNAUDITED)

20. QUARTERLY FINANCIAL DATA (UNAUDITED)

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First

    

Second

    

Third

    

Fourth

    

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(millions, except per share)

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Quarter

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Quarter

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Quarter

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Quarter

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Year

2019

    

    

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Net sales

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$2,924.7

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$3,169.1

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$3,224.0

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$3,244.2

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$12,562.0

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Operating expenses

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Cost of sales (a)

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1,675.5

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1,780.3

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1,780.9

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1,809.1

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7,045.8

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Selling, general and administrative expenses

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896.1

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900.0

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869.2

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885.5

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3,550.8

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Special (gains) and charges

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39.5

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24.4

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24.9

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31.4

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120.2

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Operating income

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313.6

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464.4

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549.0

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518.2

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1,845.2

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Other (income) expense (a)

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(21.2)

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(20.9)

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(20.8)

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(14.1)

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(77.0)

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Interest expense, net (a)

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49.3

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49.2

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46.1

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46.1

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190.7

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Income before income taxes

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285.5

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436.1

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523.7

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486.2

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1,731.5

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Provision for income taxes

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29.9

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88.8

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83.4

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86.5

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288.6

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Net income from continuing operations, including noncontrolling interest

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255.6

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347.3

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440.3

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399.7

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1,442.9

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Net income from continuing operations attributable to noncontrolling interest

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4.0

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3.9

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4.4

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5.0

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17.3

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Net income from continuing operations attributable to Ecolab

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251.6

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343.4

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435.9

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394.7

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1,425.6

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Net income from discontinued operations, net of tax (b)

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44.9

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25.2

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28.3

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34.9

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133.3

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Net income attributable to Ecolab

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$296.5

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$368.6

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$464.2

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$429.6

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$1,558.9

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Earnings attributable to Ecolab per common share

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Basic

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Continuing operations

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$ 0.87

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$ 1.19

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$ 1.51

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$ 1.37

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$ 4.95

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Discontinued operations

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$ 0.16

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$ 0.09

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$ 0.10

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$ 0.12

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$ 0.46

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Earnings attributable to Ecolab

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$ 1.03

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$ 1.28

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$ 1.61

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$ 1.49

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$ 5.41

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Diluted

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Continuing operations

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$ 0.86

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$ 1.18

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$ 1.49

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$ 1.35

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$ 4.87

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Discontinued operations

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$ 0.15

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$ 0.09

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$ 0.10

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$ 0.12

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$ 0.46

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Earnings attributable to Ecolab

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$ 1.01

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$ 1.26

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$ 1.59

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$ 1.47

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$ 5.33

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Weighted-average common shares outstanding

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Basic

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288.2

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287.6

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288.1

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288.3

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288.1

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Diluted

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292.3

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292.1

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292.8

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292.6

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292.5

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2018

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Net sales

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$2,865.3

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$3,086.5

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$3,126.5

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$3,143.8

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$12,222.1

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Operating expenses

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Cost of sales (a)

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1,639.3

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1,722.5

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1,743.3

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1,770.2

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6,875.3

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Selling, general and administrative expenses

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896.7

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911.4

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855.9

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841.8

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3,505.8

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Special (gains) and charges

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26.2

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8.0

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66.2

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12.3

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112.7

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Operating income

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303.1

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444.6

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461.1

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519.5

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1,728.3

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Other (income) expense

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(19.4)

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(19.5)

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(21.2)

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(19.8)

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(79.9)

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Interest expense, net (a)

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56.0

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56.2

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55.1

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53.8

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221.1

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Income before income taxes

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266.5

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407.9

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427.2

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485.5

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1,587.1

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Provision for income taxes

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58.2

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80.5

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95.4

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87.1

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321.2

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Net income from continuing operations, including noncontrolling interest

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208.3

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327.4

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331.8

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398.4

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1,265.9

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Net income from continuing operations attributable to noncontrolling interest

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2.8

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3.7

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3.6

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5.5

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15.6

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Net income from continuing operations attributable to Ecolab

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205.5

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323.7

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328.2

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392.9

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1,250.3

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Net income from discontinued operations, net of tax (b)

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41.8

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27.6

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107.2

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2.2

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178.8

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Net income attributable to Ecolab

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$247.3

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$351.3

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$435.4

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$395.1

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$1,429.1

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Earnings attributable to Ecolab per common share

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Basic

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Continuing operations

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$ 0.71

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$ 1.12

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$ 1.14

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$ 1.36

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$ 4.33

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Discontinued operations

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$ 0.14

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$ 0.10

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$ 0.37

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$ 0.01

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$ 0.62

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Earnings attributable to Ecolab

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$ 0.86

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$ 1.22

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$ 1.51

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$ 1.37

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$ 4.95

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Diluted

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Continuing operations

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$ 0.70

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$ 1.10

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$ 1.12

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$ 1.34

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$ 4.27

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Discontinued operations

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$ 0.14

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$ 0.09

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$ 0.37

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$ 0.01

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$ 0.61

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Earnings attributable to Ecolab

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$ 0.84

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$ 1.20

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$ 1.48

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$ 1.35

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$ 4.88

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Weighted-average common shares outstanding

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Basic

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288.6

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288.8

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288.8

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288.0

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288.6

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Diluted

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292.7

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293.3

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293.4

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292.2

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292.8

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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 the first quarter of 2019 with current accounting policies. There was no impact to net sales or operating income.

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(a)Cost of sales includes special charges of $3.6, $7.9, $11.3 and $15.7 in Q1, Q2, Q3 and Q4 of 2019, respectively and $(0.1), $3.6, and $5.8 in Q2, Q3 and Q4 of 2018, respectively. Other (income) expense includes special charges of $9.5 in Q4 of 2019. Net interest expense includes special charges of $0.2 in Q1 of 2019 and $0.3 in Q4 of 2018.
(b)Net income from discontinued operations, net of tax includes noncontrolling interest of $(0.1), $(0.3), $0.7 and $(0.3) in Q1, Q2, Q3 and Q4 of 2019, respectively and $(1.9), $(1.4), $(0.7) and $(0.4) in Q1, Q2, Q3 and Q4 of 2018, respectively.