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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The following is an analysis of certain line items in the Consolidated Statements of Income by quarter for 2017 and 2016:
(in millions of dollars, except per share data)
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter
2017
 
 
 
 
 
 
 
Net sales(1)
$
359.8

 
$
490.0

 
$
532.2

 
$
566.8

Gross profit
110.8

 
168.5

 
177.9

 
199.2

Operating income
9.3

 
45.4

 
58.7

 
79.6

Net income
$
3.6

 
$
23.5

 
$
30.6

 
$
74.0

Per share:
 
 
 
 
 
 
 
Basic income per share (2)
$
0.03

 
$
0.21

 
$
0.28

 
$
0.69

Diluted income per share (2)
$
0.03

 
$
0.21

 
$
0.28

 
$
0.68

2016
 
 
 
 
 
 
 
Net sales(1)
$
278.1

 
$
410.1

 
$
431.3

 
$
437.6

Gross profit
82.4

 
134.8

 
144.2

 
153.7

Operating income
6.5

 
45.4

 
55.7

 
59.7

Net income
$
4.8

 
$
61.9

 
$
22.7

 
$
6.1

Per share:
 
 
 
 
 
 
 
Basic income per share (2)
$
0.05

 
$
0.58

 
$
0.21

 
$
0.06

Diluted income per share (2)
$
0.04

 
$
0.57

 
$
0.21

 
$
0.06


(1)
Historically, our business has experienced higher sales and earnings in the third and fourth quarters of the calendar year and we expect these trends to continue. Two principal factors contribute to this seasonality: (1) we are a major supplier of products related to the back-to-school season, which occurs principally from June through September for our North American business and from November through February for our Australian and Brazilian businesses; and (2) several product categories we sell lend themselves to calendar year-end purchase timing, including planners, paper organization and storage products (including bindery) and Kensington® computer accessories, which have higher sales in the fourth quarter driven by traditionally strong fourth-quarter sales of personal computers and tablets.

(2)
The sum of the quarterly earnings per share amounts may not equal the total for the year due to the effects of rounding, dilution as a result of issuing shares of common stock and repurchasing of shares of common stock during the year.