

(millions except per share data)	First		Second		Third		Fourth
2017
Net sales	$	1,043.7	$	1,114.3	$	1,185.2	$	1,490.9
Gross profit	413.0		444.6		484.4		668.2
Operating income	134.2		132.6		168.7		266.9
Net income	93.5		100.0		108.2		175.7
Basic earnings per share	0.75		0.80		0.86		1.34
Diluted earnings per share	0.74		0.79		0.85		1.32
Dividends paid per share—
Common Stock and Common Stock Non-Voting	0.47		0.47		0.47		0.47
Dividends declared per share—
Common Stock and Common Stock Non-Voting	—		0.47		0.47		0.99
Market price—Common Stock
High	98.90		104.26		105.64		102.72
Low	89.23		97.33		92.15		93.70
Market price—Common Stock Non-Voting
High	99.33		104.48		105.92		102.64
Low	88.78		97.53		92.07		93.99
2016
Net sales	$	1,030.2	$	1,063.3	$	1,091.0	$	1,227.0
Gross profit	405.0		432.8		453.9		540.0
Operating income	129.1		125.0		167.8		219.1
Net income	93.4		93.8		127.7		157.4
Basic earnings per share	0.73		0.74		1.01		1.25
Diluted earnings per share	0.73		0.73		1.00		1.24
Dividends paid per share—
Common Stock and Common Stock Non-Voting	0.43		0.43		0.43		0.43
Dividends declared per share—
Common Stock and Common Stock Non-Voting	—		0.43		0.43		0.90
Market price—Common Stock
High	94.10		100.06		107.05		102.01
Low	79.53		91.32		96.92		91.06
Market price—Common Stock Non-Voting
High	94.10		100.71		107.07		101.98
Low	79.78		91.39		97.18		91.08

Operating income for the first quarter of 2017 included $3.6 million of special charges, with an after-tax impact of $2.5 million and a per share impact of $0.02 for both basic and diluted earnings per share. Operating income for the second quarter of 2017 included $4.7 million of special charges, with an after-tax impact of $3.4 million and a per share impact of $0.03 for both basic and diluted earnings per share. Operating income for the third quarter of 2017 included $4.7 million of special charges, with an after-tax impact of $3.2 million and a per share impact of $0.03 for both basic and diluted earnings per share. Operating income for the third quarter of 2017 included $30.4 million of transaction and integration expenses, including $5.9 million reflected in gross profit. Net income for the third quarter of 2017 also included a pre-tax charge of $15.4 million reflected in other debt costs. For the third quarter of 2017, the after-tax impact of transaction and integration expenses and other debt costs was $31.1 million and a per share impact of $0.25 and $0.24 for basic and diluted earnings per share, respectively. Operating income for the fourth quarter of 2017 included $9.2 million of special charges, with an after-tax impact of $6.7 million and a per share impact of $0.05 for both basic and diluted earnings per share. Operating income for the fourth quarter of 2017 included $31.3 million of transaction and integration expenses, including $15.0 million reflected in gross profit, with an after-tax impact of $22.4 million and a per share impact of $0.17 for both basic and diluted earnings per share.

Operating income for the first quarter of 2016 included $1.6 million of special charges, with an after-tax impact of $1.3 million and a per share impact of $0.01 for both basic and diluted earnings per share. Operating income for the second quarter of 2016 included $3.9 million of special charges, with an after-tax impact of $2.7 million and a per share impact of $0.02 for both basic and diluted earnings per share. Operating income for the third quarter of 2016 included $4.3 million of special charges, with an after-tax impact of $3.4 million and a per share impact of $0.03 for both basic and diluted earnings per share. Operating income for the fourth quarter of 2016 included $6.2 million of special charges, including $0.3 million reflected in gross profit, with an after-tax impact of $3.7 million and a per share impact of $0.03 for both basic and diluted earnings per share.

See notes 2 and 3 for details with respect to the transaction and integration expenses and actions undertaken in connection with these special charges, respectively.

Earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarters may not be equal to the full year earnings per share.