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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Data
 
Quarter
2014:
First (a)
 
Second (b)
 
Third (c)
 
Fourth (d)
 
Total
Net sales
$
1,431.3

 
$
1,468.4

 
$
1,518.9

 
$
1,434.0

 
$
5,852.6

Gross profit
301.4

 
310.8

 
320.3

 
297.0

 
1,229.5

Income from operations
160.9

 
180.2

 
188.4

 
173.2

 
702.7

Net income
90.1

 
99.6

 
104.4

 
98.5

 
392.6

Basic earnings per share
0.92

 
1.01

 
1.06

 
1.00

 
3.99

Diluted earnings per share
0.92

 
1.01

 
1.06

 
1.00

 
3.99

Stock price - high
75.10

 
72.74

 
72.82

 
80.14

 
80.14

Stock price - low
61.35

 
65.00

 
63.11

 
57.06

 
57.06

 
Quarter
2013:
First
 
Second (e)
 
Third (f)
 
Fourth (g)
 
Total
Net sales
$
755.2

 
$
800.2

 
$
845.5

 
$
1,264.4

 
$
3,665.3

Gross profit
185.2

 
195.3

 
227.6

 
259.4

 
867.5

Income from operations
106.0

 
110.2

 
142.8

 
122.9

 
481.9

Net income
62.3

 
66.2

 
84.7

 
228.1

 
441.3

Basic earnings per share
0.65

 
0.69

 
0.88

 
2.36

 
4.57

Diluted earnings per share
0.64

 
0.68

 
0.87

 
2.34

 
4.52

Stock price - high
44.93

 
50.78

 
61.32

 
64.39

 
64.39

Stock price - low
37.86

 
42.36

 
48.45

 
55.66

 
37.86

____________
Note: The sum of the quarters may not equal the total of the respective year’s earnings per share on either a basic or diluted basis due to changes in the weighted average shares outstanding throughout the year.
(a)
Includes $17.6 million of costs accrued for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit ($11.2 million after-tax or $0.11 per diluted share), $4.1 million of integration-related costs ($2.6 million after-tax or $0.03 per diluted share), and $4.0 million of DeRidder restructuring charges ($2.6 million after-tax or $0.02 per diluted share).
(b)
Includes $17.8 million of DeRidder restructuring charges ($11.2 million after-tax or $0.12 per diluted share) and $4.9 million of integration-related and other costs ($3.0 million after-tax or $0.03 per diluted share).
(c)
Includes $26.0 million of DeRidder restructuring charges ($16.6 million after-tax or $0.17 per diluted share) and $4.5 million of integration-related and other costs ($2.9 million after-tax or $0.03 per diluted share).
(d)
Includes $18.0 million of DeRidder restructuring charges ($11.7 million after-tax or $0.12 per diluted share) and $6.4 million of integration-related and other costs ($4.2 million after-tax or $0.04 per diluted share).
(e)
Includes a $7.8 million non-cash pension curtailment charge ($5.0 million after-tax or $0.05 per diluted share).
(f)
Includes a $3.1 million non-cash pension curtailment charge ($2.0 million after-tax or $0.02 per diluted share), $1.5 million of acquisition-related costs ($1.0 million after-tax or $0.01 per diluted share), and $2.7 million of acquisition-related financing costs ($1.8 million after-tax or $0.02 per diluted share).
(g)
Includes Boise's results for the period of October 25, 2013, through December 31, 2013. The quarter also includes $166.0 million of income tax benefits from the reversal of the reserves for unrecognized tax benefits from alternative energy tax credits ($1.70 per diluted share), partially offset by $21.5 million of expense for the acquisition inventory step-up ($13.6 million after-tax or $0.14 per diluted share), $15.8 million of acquisition-related costs ($10.0 million after-tax or $0.10 per diluted share), $8.9 million of acquisition-related financing costs ($5.6 million after-tax or $0.06 per diluted share), and $17.4 million of integration-related and other costs ($11.0 million after-tax or $0.11 per diluted share).