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SELECTED QUARTERLY FINANCIAL DATA SELECTED QUARTERLY FINANCIAL DATA
 12 Months Ended
Dec. 29, 2018
Quarterly Financial Information [Text Block]
SELECTED QUARTERLY FINANCIAL DATA (unaudited) 
 
 
Quarter
 
 
(Millions of Dollars, except per share amounts)
 
First
 
Second
 
Third
 
Fourth
 
Year
2018
 
 
 
 
 
 
 
 
 
 
Net Sales
 
$
3,209.3

 
$
3,643.6

 
$
3,494.8

 
$
3,634.7

 
$
13,982.4

Gross profit
 
1,165.7

 
1,287.1

 
1,238.4

 
1,159.9

 
4,851.1

Selling, general and administrative (1)
 
785.6

 
805.8

 
798.9

 
781.4

 
3,171.7

Net earnings (loss)
 
170.1

 
293.4

 
248.3

 
(106.0
)
 
605.8

Less: Net (loss) gain attributable to non-controlling interest
 
(0.5
)
 
(0.2
)
 
0.5

 
0.8

 
0.6

Net Earnings (Loss) Attributable to Common Shareowners
 
$
170.6

 
$
293.6

 
$
247.8

 
$
(106.8
)
 
$
605.2

Earnings (loss) per share of common stock:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
1.13

 
$
1.96

 
$
1.67

 
$
(0.72
)
 
$
4.06

Diluted
 
$
1.11

 
$
1.93

 
$
1.65

 
$
(0.72
)
 
$
3.99

2017
 
 
 
 
 
 
 
 
 
 
Net Sales (2)
 
$
2,856.3

 
$
3,286.7

 
$
3,359.4

 
$
3,464.2

 
$
12,966.6

Gross profit (2)
 
1,066.0

 
1,213.3

 
1,253.0

 
1,246.0

 
4,778.3

Selling, general and administrative (1)(2)
 
690.3

 
744.2

 
768.9

 
795.8

 
2,999.2

Net earnings
 
393.7

 
277.6

 
274.5

 
281.1

 
1,226.9

Less: Net loss attributable to non-controlling interest
 
—

 
—

 
—

 
(0.4
)
 
(0.4
)
Net Earnings Attributable to Common Shareowners (2)
 
$
393.7

 
$
277.6

 
$
274.5

 
$
281.5

 
$
1,227.3

Earnings per share of common stock:
 
 
 
 
 
 
 
 
 
 
Basic (2)
 
$
2.64

 
$
1.86

 
$
1.83

 
$
1.88

 
$
8.20

Diluted (2)
 
$
2.60

 
$
1.82

 
$
1.80

 
$
1.84

 
$
8.05

(1) Includes provision for doubtful accounts.
(2) Prior year amounts have been recast as a result of the adoption of the new revenue and pension standards. Refer to Note A, Significant Accounting Policies, for further discussion.

The 2018 year-to-date results above include $450 million of pre-tax acquisition-related and other charges, as well as net tax charges of $181 million, which is comprised of charges related to the Tax Cuts and Jobs Act ("the Act") partially offset by the tax benefit of the pre-tax acquisition-related and other charges. The net impact of the above items and effect on diluted earnings per share by quarter was as follows:
 
Acquisition-Related Charges & Other
  
Diluted EPS Impact
• Q1 2018 —   $25 million loss ($43 million after-tax)
  
($0.28) per diluted share
• Q2 2018 —   $127 million loss ($98 million after-tax)
  
($0.64) per diluted share
• Q3 2018 —   $85 million loss ($66 million after-tax)
  
($0.43) per diluted share
• Q4 2018 —   $213 million loss ($424 million after-tax)
  
($2.83) per diluted share

The 2017 year-to-date results above include $156 million of pre-tax acquisition-related charges, a $264 million pre-tax gain on sales of businesses, primarily related to the sale of the mechanical security businesses in the first quarter, and a one-time net tax charge of $24 million recorded in the fourth quarter related to the Act. The net impact of the above items and effect on diluted earnings per share by quarter was as follows:
 
Acquisition-Related Charges & Other
  
Diluted EPS Impact
• Q1 2017 —   $211 million gain ($197 million after-tax)
  
$1.30 per diluted share
• Q2 2017 —   $43 million loss ($29 million after-tax)
  
($0.20) per diluted share
• Q3 2017 —   $33 million loss ($24 million after-tax)
  
($0.16) per diluted share
• Q4 2017 —   $27 million loss ($53 million after-tax)
  
($0.34) per diluted share