SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Jan. 03, 2020

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of the unaudited interim results of operations for each quarter in the years ended January 3, 2020 and December 28, 2018. The Company's fiscal year includes 53 weeks in 2019 and 52 weeks in 2018, with the extra week in 2019 in the fourth quarter. As of February 12, 2020, Anixter had 1,597 shareholders of record.


(In millions, except per share amounts)
Year ended January 3, 2020	First Quarter^(a)		Second Quarter^(b)		Third Quarter^(c)		Fourth Quarter^(d)
Net sales	$	2,108.5	$	2,262.6	$	2,222.2	$	2,252.3
Cost of goods sold	1,689.6		1,812.6		1,775.8		1,791.8
Operating income	74.6		105.7		101.8		85.4
Income before income taxes	56.0		85.6		82.1		69.7
Net income	$	39.1	$	63.5	$	59.3	$	101.0
Income per share:
Basic	$	1.15	$	1.86	$	1.74	$	2.95
Diluted	$	1.14	$	1.86	$	1.73	$	2.93

(a)In the first quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization and a reversal of acquisition and integration costs of $0.3 million.

(b)In the second quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.

(c)In the third quarter of 2019, "Operating income" includes $8.8 million of intangible asset amortization.

(d)In the fourth quarter of 2019, "Operating income" includes $8.6 million of intangible asset amortization and $12.8 million of merger costs. "Net income" includes a $45.9 million tax benefit related to the reversal of deferred income tax valuation allowances, partially offset by $0.8 million of tax expense related to prior year tax positions.


(In millions, except per share amounts)
Year ended December 28, 2018	First Quarter^(a)		Second Quarter^(b)		Third Quarter^(c)		Fourth Quarter^(d)
Net sales	$	1,964.2	$	2,137.9	$	2,179.0	$	2,119.1
Cost of goods sold	1,579.4		1,718.8		1,754.9		1,689.1
Operating income	61.6		71.3		89.5		87.3
Income before income taxes	45.7		49.0		68.6		59.9
Net income	$	32.1	$	34.8	$	47.6	$	41.8
Income per share:
Basic	$	0.95	$	1.03	$	1.41	$	1.23
Diluted	$	0.94	$	1.02	$	1.40	$	1.22

(a)In the first quarter of 2018, "Operating income" includes $9.3 million of intangible asset amortization, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

(b)In the second quarter of 2018, "Operating income" includes $9.7 million of intangible asset amortization, a restructuring charge of $9.2 million, $2.3 million of acquisition and integration costs, $2.6 million of CEO retirement agreement expense and $0.4 million of U.K. facility relocation costs.

(c)In the third quarter of 2018, "Operating income" includes $9.6 million of intangible asset amortization, a restructuring charge of $0.2 million, $0.3 million of acquisition and integration costs and $0.2 million of U.K. facility relocation costs.

(d)In the fourth quarter of 2018, "Operating income" includes $8.7 million of intangible asset amortization and $0.2 million of U.K. facility relocation costs. "Income before income taxes" includes a $4.6 million loss on extinguishment of debt.