Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data [Abstract]

Quarterly Financial Data

19. Quarterly Financial Data (unaudited)

(in millions, except per share amounts)
2012	1st	2nd	3rd	4th
Net sales	$180.1	$191.9	$194.6	$194.3
Gross profit	68.3	78.5	79.7	79.0
Net income	47.0	(33.7)	9.5	8.2
Basic earnings per share	1.50	(1.08)	0.30	0.27
Diluted earnings per share	1.49	(1.08)	0.30	0.26
Cash dividends per share	0.13	0.14	0.14	0.14
Class A Common Stock prices:
High	25.90	24.70	22.78	22.68
Low	22.35	17.15	17.66	20.11
2011
Net sales	$200.0	$189.7	$200.3	$197.4
Gross profit	85.2	73.9	78.1	77.0
Net income	16.7	8.8	16.7	(7.2)
Basic earnings per share	0.54	0.28	0.53	(0.23)
Diluted earnings per share	0.53	0.28	0.53	(0.23)
Cash dividends per share	0.12	0.13	0.13	0.13
Class A Common Stock prices:
High	25.09	27.90	27.68	25.70
Low	21.84	23.54	17.82	17.24
2010
Net sales	$174.5	$185.6	$186.6	$196.3
Gross profit	61.8	69.6	71.9	78.6
Net (loss)/income	5.6	7.9	3.6	20.5
Basic (losses)/earnings per share	0.18	0.25	0.12	0.66
Diluted (losses)/earnings per share	0.18	0.25	0.12	0.66
Cash dividends per share	0.12	0.12	0.12	0.12
Class A Common Stock prices:
High	23.27	25.73	20.89	25.62
Low	18.32	16.00	15.06	18.68

In 2012, earnings per share includes pension plan settlement charges per share of $0.22 in the first quarter and $2.34 in the second quarter.

In Q1 2012 income tax expense includes a favorable discrete adjustment for a Canadian audit settlement of $0.23 per share.

In 2012, restructuring charges reduced earnings per share by $0.01 in the first quarter, $0.06 in the second quarter, $0.05 in the third quarter, and $0.02 in the fourth quarter.

Income tax expense in the fourth quarter of 2011 includes a favorable adjustment of $0.11 per share to correct errors from periods prior to 2006. The Company does not believe that the corrected item is or was material to 2011 or any previously reported quarterly or annual financial statements. As a result, the Company has not restated its previously issued annual or quarterly financial statements.

In 2011, restructuring charges reduced earnings per share by $0.00 in the first quarter, $0.04 in the second quarter, $0.06 in the third quarter, and $0.10 in the fourth quarter.

In 2010, restructuring charges reduced earnings per share by $0.03 in the first quarter, $0.01 in the second quarter, $0.02 in the third quarter, and $0.02 in the fourth quarter.

The Company's Class A Common Stock is traded principally on the New York Stock Exchange. As of December 31, 2012, there were approximately 5,500 beneficial owners of the Company's common stock, including employees owning shares through the Company's 401(k) defined contribution plan.