QUARTERLY FINANCIAL INFORMATION (Unaudited)

12 Months Ended

Dec. 30, 2017

NOTE 17. QUARTERLY FINANCIAL INFORMATION (Unaudited)

(In millions, except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

2017
Net sales	$	1,572.1	$	1,626.9	$	1,679.5	$	1,735.3
Gross profit		442.4		452.6		451.6		465.6
Net income (loss) (1)		112.2		120.9		108.3		(59.6	)
Net income (loss) per common share		1.27		1.37		1.23		(.68	)
Net income (loss) per common share, assuming dilution		1.25		1.34		1.20		(.66	)

2016
Net sales	$	1,485.5	$	1,541.5	$	1,508.7	$	1,550.8
Gross profit		422.6		434.1		417.6		425.4
Net income		89.6		80.0		89.1		62.0
Net income per common share		1.00		.90		1.00		.70
Net income per common share, assuming dilution		.98		.88		.98		.69


(1)	During the fourth quarter of 2017, we recognized a net tax charge of $172 million as a result of the TCJA.

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

(In millions)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

2017
Restructuring charges:
Severance and related costs	$	5.7	$	7.3	$	8.7	$	9.5
Asset impairment charges and lease cancellation costs		–		.3		1.8		.1
Other items:
Net gains on sales of assets		–		–		–		(2.1	)
Transaction costs		.8		2.6		.3		1.5

Other expense, net	$	6.5	$	10.2	$	10.8	$	9.0

2016
Restructuring charges:
Severance and related costs	$	5.2	$	3.6	$	1.9	$	4.0
Asset impairment charges and lease cancellation costs		.4		2.8		.7		1.3
Other items:
Loss from settlement of pension obligations		–		41.4		–		–
Loss (gain) on sales of assets		–		.3		–		(1.4	)
Transaction costs		–		2.1		2.0		.9

Other expense, net	$	5.6	$	50.2	$	4.6	$	4.8