Effective October 1, 2022, the Company selected to adopt the FIFO inventory valuation methodology for all inventories where it had previously valued certain inventories on the LIFO basis. Accordingly, amounts previously reported for all quarters for the year ended September 30, 2021, and the first, second and third quarters of fiscal 2022 have been recast from what was previously reported in the Company’s Quarterly Reports on Form 10-Q.


	Year Ended December 31, 2022
	4th Quarter (a)		3rd Quarter (b)		2nd Quarter		1st Quarter (c)
Net sales	$	2,203.6	$	2,066.7	$	2,066.0	$	1,945.7
Gross income		315.0		288.6		247.0		203.8
Operating income		147.0		117.2		76.3		31.8
Net income		75.1		66.9		32.1		(0.2	)
Earnings per share:
Basic	$	1.15	$	1.02	$	0.49	$	—
Diluted	$	1.14	$	1.02	$	0.49	$	—
Common stock dividends per share	$	0.37	$	0.37	$	0.37	$	0.37

(a)

The fourth quarter of fiscal 2022 was impacted by a $5.6 million ($4.3 million after-tax) intangible asset impairment charge in the Defense segment and a $33.6 million ($25.7 million after-tax) pension settlement charge.

(b)

The third quarter of fiscal 2022 was impacted by expense of $4.6 million to eliminate cumulative translation adjustments upon liquidation of foreign entities in the Access Equipment segment and a $2.1 million intangible asset impairment charge in the Commercial segment.

(c)

The first quarter of fiscal 2022 was impacted by tax expense of $18.1 million for anti-hybrid tax on prior period income.


	Year Ended September 30, 2021
	4th Quarter (a)		3rd Quarter (b)		2nd Quarter (c)		1st Quarter (d)
Net sales	$	2,063.0	$	2,208.8	$	1,889.0	$	1,576.5
Gross income		308.7		394.1		319.6		245.8
Operating income		134.4		213.3		145.3		99.1
Net income		112.9		221.0		103.0		72.0
Earnings per share:
Basic	$	1.65	$	3.21	$	1.50	$	1.06
Diluted	$	1.63	$	3.18	$	1.49	$	1.05
Common stock dividends per share	$	0.33	$	0.33	$	0.33	$	0.33

(a)

The fourth quarter of the year ended September 30, 2021 was impacted by a tax benefit of $11.7 million for the revaluation of deferred tax liabilities and a tax benefit of $5.4 million for net operating loss carrybacks.

(b)

The third quarter of the year ended September 30, 2021 was impacted a tax benefit of $69.9 million for net operating loss carrybacks and $1.3 million ($1.4 million after-tax) of restructuring-related costs in the Access Equipment segment.

(c)

The second quarter of the year ended September 30, 2021 was impacted by $2.2 million ($2.5 million after-tax) of restructuring-related costs in the Access Equipment segment.

(d)

The first quarter of the year ended September 30, 2021 was impacted by $8.0 million ($7.8 million after-tax) of restructuring-related costs in the Access Equipment segment.