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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2018
Selected Quarterly Financial Data (Unaudited)  
Schedule of selected quarterly financial data (unaudited)

 

 

Three Months Ended

 

 

 

    

March 31, 

   

June 30, 

   

September 30, 

   

December 31, 

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

1,866.9

 

$

1,981.4

 

$

2,129.0

 

$

2,224.7

 

 

Gross profit

 

 

606.9

 

 

644.8

 

 

688.2

 

 

715.0

 

 

Operating income

 

 

376.9

 

 

408.2

 

 

444.2

 

 

457.6

(4)

 

Net income

 

 

268.3

(1)

 

287.8

(2)

 

319.6

(3)

 

341.2

(4)

 

Net income attributable to Amphenol Corporation

 

 

265.6

(1)

 

284.8

(2)

 

316.6

(3)

 

338.1

(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share—Basic

 

 

0.87

(1)

 

0.95

(2)

 

1.05

(3)

 

1.13

(4)

 

Net income per common share—Diluted

 

 

0.84

(1)

 

0.91

(2)

 

1.01

(3)

 

1.09

(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

1,560.1

 

$

1,666.5

 

$

1,840.8

 

$

1,943.9

 

 

Gross profit

 

 

515.9

 

 

552.6

 

 

606.1

 

 

635.4

 

 

Operating income

 

 

314.1

 

 

336.2

(6)

 

377.9

 

 

399.4

 

 

Net income (loss)

 

 

227.3

(5)

 

253.6

(6)

 

280.3

(7)

 

(100.4)

(8)

 

Net income (loss) attributable to Amphenol Corporation

 

 

224.9

(5)

 

251.5

(6)

 

277.5

(7)

 

(103.4)

(8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share—Basic

 

 

0.73

(5)

 

0.82

(6)

 

0.91

(7)

 

(0.34)

(8)

 

Net income (loss) per common share—Diluted

 

 

0.71

(5)

 

0.80

(6)

 

0.88

(7)

 

(0.34)

(8)

 


 

(1)

Net income and net income per common share includes excess tax benefits related to stock-based compensation of $4.1.  The excess tax benefits had the effect of increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $4.1,  $4.1 and $0.01 per share, respectively, for the three months ended March 31, 2018.

 

(2)

Net income and net income per common share includes excess tax benefits related to stock-based compensation of $3.0.  The excess tax benefits had the effect of increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $3.0,  $3.0 and $0.01 per share, respectively, for the three months ended June 30, 2018.

 

(3)

Net income and net income per common share includes excess tax benefits related to stock-based compensation of $7.0.  The excess tax benefits had the effect of increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $7.0,  $7.0 and $0.02 per share, respectively, for the three months ended September 30, 2018.

 

(4)

Operating income, net income and net income per common share includes acquisition-related expenses of $8.5 ($7.2 after-tax, or $0.02 per share) primarily related to external transaction costs.  Net income and net income per common share also includes an income tax benefit of $14.5  ($0.04 per share) recorded in 2018 related to the completion of its accounting for the provisional Tax Act Charge from 2017 resulting from the enactment of the Tax Cuts and Jobs Act (“Tax Act”), and the excess tax benefits related to stock-based compensation of $5.7 ($0.02 per share).  These items had the aggregate effect of decreasing Operating income by $8.5, while increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $13.0,  $13.0 and $0.04 per share, respectively, for the three months ended December 31, 2018.

 

(5)

Net income and net income per common share includes excess tax benefits related to stock-based compensation of $8.0.  The excess tax benefits had the effect of increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $8.0,  $8.0 and $0.02 per share, respectively, for the three months ended March 31, 2017.

 

(6)

Operating income, net income and net income per common share includes acquisition-related expenses of $4.0 ($3.7 after-tax, or $0.01 per share) primarily related to 2017 acquisitions and excess tax benefits related to stock-based compensation of $21.2 ($0.07 per share).  These items had the aggregate effect of decreasing Operating income by $4.0, while increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $17.5,  $17.5 and $0.06 per share, respectively, for the three months ended June 30, 2017.

 

(7)

Net income and net income per common share includes excess tax benefits related to stock-based compensation of $16.6.  The excess tax benefits had the effect of increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $16.6,  $16.6 and $0.05 per share, respectively, for the three months ended September 30, 2017.

 

(8)

Net loss and net loss per common share includes the provisional Tax Act Charge of $398.5 ($1.26 per share) related to the enactment of the Tax Act, partially offset by the excess tax benefits related to stock-based compensation of $20.8 ($0.07 per share).  In addition, diluted weighted average shares used to calculate the GAAP diluted net loss per common share for the fourth quarter of 2017 excluded the anti-dilutive effect of 12.4 million common share equivalents due to the GAAP net loss position during the period; this net loss per common share-diluted in this period would have been $0.01 less if the dilutive impact of common share equivalents was included in the diluted weighted average common shares outstanding.  These items had the aggregate effect of decreasing Net income, Net income attributable to Amphenol Corporation, and Net income (loss) per common share-Diluted by $377.7,  $377.7 and $1.20 per share, respectively, for the three months ended December 31, 2017.