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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2020
Selected Quarterly Financial Data (Unaudited)  
Schedule of selected quarterly financial data (unaudited)

Three Months Ended

 

    

March 31, 

   

June 30, 

   

September 30, 

   

December 31, 

 

2020

Net sales

$

1,862.0

$

1,987.5

$

2,323.4

$

2,426.0

Gross profit

559.8

603.8

734.9

765.6

Operating income

316.9

357.4

475.8

488.4

(4)

Net income

243.2

(1)

260.5

(2)

349.5

(3)

360.2

(4)

Net income attributable to Amphenol Corporation

242.1

(1)

257.7

(2)

346.6

(3)

357.0

(4)

Net income per common share—Basic

0.81

(1)

0.87

(2)

1.16

(3)

1.19

(4)

Net income per common share—Diluted

0.79

(1)

0.85

(2)

1.12

(3)

1.15

(4)

2019

Net sales

$

1,958.5

$

2,015.3

$

2,100.6

$

2,151.0

Gross profit

627.8

647.6

661.9

678.7

Operating income

376.2

(5)

399.5

(6)

413.6

429.8

Net income

269.9

(5)

290.9

(6)

282.3

(7)

320.8

(8)

Net income attributable to Amphenol Corporation

267.5

(5)

288.4

(6)

280.3

(7)

318.7

(8)

Net income per common share—Basic

0.90

(5)

0.97

(6)

0.95

(7)

1.07

(8)

Net income per common share—Diluted

0.87

(5)

0.93

(6)

0.92

(7)

1.03

(8)

(1)Net income and net income per common share includes excess tax benefits related to stock-based compensation of $5.0 ($0.02 per diluted share) and a discrete tax benefit of $19.9 ($0.06 per diluted share) related to the settlements of refund claims in certain non-U.S. jurisdictions and the resulting adjustments to deferred taxes. These items had the aggregate effect of increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $24.9, $24.9, and $0.08 per share, respectively, for the three months ended March 31, 2020.

(2)Net income and net income per common share includes excess tax benefits related to stock-based compensation of $12.4. 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 $12.4, $12.4, and $0.04 per share, respectively, for the three months ended June 30, 2020.

(3)Net income and net income per common share includes excess tax benefits related to stock-based compensation of $10.7. 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 $10.7, $10.7, and $0.03 per share, respectively, for the three months ended September 30, 2020.

(4)Operating income, net income and net income per common share includes acquisition-related expenses of $11.5 ($10.7 after-tax, or $0.03 per diluted share) primarily comprised of external transaction costs related to acquisitions that were announced or closed. Net income and net income per common share also includes excess tax benefits related to stock-based compensation of $14.8 ($0.05 per diluted share). These items had the aggregate effect of decreasing Operating income by $11.5, while increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $4.1, $4.1, and $0.02 per share, respectively, for the three months ended December 31, 2020.

(5)Operating income, net income and net income per common share includes acquisition-related expenses of $16.5 ($13.2 after-tax, or $0.04 per diluted share) primarily comprised of amortization related to the value associated with acquired backlog from the SSI acquisition, along with external transaction costs. Net income and net income per common share also includes excess tax benefits related to stock-based compensation of $6.8 ($0.02 per diluted share). These items had the aggregate effect of decreasing Operating income, Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $16.5, $6.4, $6.4, and $0.02 per share, respectively, for the three months ended March 31, 2019.

(6)Operating income, net income and net income per common share includes acquisition-related expenses of $8.9 ($7.8 after-tax, or $0.03 per diluted share) primarily related to external transaction costs, as well as amortization related to the value associated with acquired backlog from an acquisition closed in the second quarter of 2019. Net income and net income per common share also includes excess tax benefits related to stock-based compensation of $12.9 ($0.04 per diluted share). These items had the aggregate effect of decreasing Operating income by $8.9, while increasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $5.1, $5.1, and $0.01 per share, respectively, for the three months ended June 30, 2019.

(7)Net income and net income per common share includes the excess tax benefits related to stock-based compensation of $1.6 ($0.01 per diluted share) and the refinancing-related costs associated with the early extinguishment of debt of $14.3 ($12.5 after-tax, or $0.04 per diluted share). These items had the aggregate effect of decreasing Net income, Net income attributable to Amphenol Corporation, and Net income per common share-Diluted by $10.9, $10.9, and $0.03 per share, respectively, for the three months ended September 30, 2019.

(8)Net income and net income per common share includes the excess tax benefits related to stock-based compensation of $16.8. 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 $16.8, $16.8, and $0.05 per share, respectively, for the three months ended December 31, 2019.