QUARTERLY FINANCIAL INFORMATION (Unaudited)

12 Months Ended

Dec. 28, 2013

QUARTERLY FINANCIAL INFORMATION (Unaudited)

QUARTERLY FINANCIAL INFORMATION (Unaudited)

NOTE 14. QUARTERLY FINANCIAL INFORMATION (Unaudited)

(In millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2013
Net sales	$	1,498.9		$	1,552.3		$	1,504.9		$	1,583.9
Gross profit		401.7			417.5			402.2			416.3
Income from continuing operations		66.8			70.8			62.0			44.7
Loss from discontinued operations, net of tax		(9.0	)		(2.0	)		(15.5	)		(2.0	)
Net income		57.8			68.8			46.5			42.7
Net income (loss) per common share:
Continuing operations		.67			.71			.63			.46
Discontinued operations		(.09	)		(.02	)		(.16	)		(.02	)
Net income per common share		.58			.69			.47			.44
Net income (loss) per common share, assuming dilution:
Continuing operations		.66			.70			.62			.45
Discontinued operations		(.09	)		(.02	)		(.15	)		(.02	)
Net income per common share, assuming dilution		.57			.68			.47			.43
2012
Net sales	$	1,443.0		$	1,490.4		$	1,447.0		$	1,483.1
Gross profit		377.1			388.1			381.0			382.0
Income from continuing operations		44.6			49.1			35.9			28.0
(Loss) income from discontinued operations, net of tax		(.7	)		15.1			22.4			21.0
Net income		43.9			64.2			58.3			49.0
Net income per common share:
Continuing operations		.42			.47			.36			.28
Discontinued operations		–			.15			.22			.21
Net income per common share		.42			.62			.58			.49
Net income (loss) per common share, assuming dilution:
Continuing operations		.42			.47			.35			.28
Discontinued operations		(.01	)		.15			.22			.20
Net income per common share, assuming dilution		.41			.62			.57			.48

        "Other expense, net" is presented by type for each quarter below:

(In millions, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2013
Restructuring costs:
Severance and related costs	$	6.8		$	5.4		$	8.7		$	6.3
Asset impairment, lease and other contract cancellation charges		1.3			2.4			8.0			1.4
Other items:
Charitable contribution to Avery Dennison Foundation		–			–			10.0			–
Gain on sale of assets		(1.3	)		(10.9	)		(.5	)		(5.1	)
Gain from curtailment of pension obligation		–			–			(1.6	)		–
Legal settlement		–			2.5			–			–
Divestiture-related costs (1)		.7			.3			1.1			1.1
Other expense, net	$	7.5		$	(.3	)	$	25.7		$	3.7
2012
Restructuring costs:
Severance and related costs	$	5.7		$	9.8		$	17.6		$	16.2
Asset impairment and lease cancellation charges		1.5			.4			1.5			3.1
Other items:
Indefinite-lived intangible asset impairment charge		–			–			–			7.0
Gain on sale of product line		–			(.6	)		–			–
Product line exits		–			–			2.1			1.8
Divestiture-related costs (1)		.4			1.6			.7			–
Other expense, net	$	7.6		$	11.2		$	21.9		$	28.1

(1)

Represents only the portion allocated to continuing operations.