Black & Decker 2014 Annual Report Download - page 117

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103
SELECTED QUARTERLY FINANCIAL DATA (unaudited)
Quarter
(Millions of Dollars, except per share amounts) First Second Third Fourth Year
2014
Net sales............................................................. $ 2,617.1 $ 2,860.1 $ 2,878.9 $ 2,982.5 $ 11,338.6
Gross profit........................................................ 956.4 1,048.6 1,046.6 1,051.1 4,102.7
Selling, general and administrative expenses.... 640.6 655.9 641.1 658.3 2,595.9
Net earnings from continuing operations .......... 169.9 222.7 246.1 219.0 857.7
Less: Net earnings (loss) attributable to non-
controlling interest............................................. 0.2 0.9 (0.3)(0.3) 0.5
Net earnings from continuing operations
attributable to Stanley Black & Decker, Inc...... 169.7 221.8 246.4 219.3 857.2
Net loss from discontinued operations .............. (7.8) (5.3)(9.7)(73.5)(96.3)
Net earnings attributable to Stanley Black &
Decker, Inc......................................................... $ 161.9 $ 216.5 $ 236.7 $ 145.8 $ 760.9
Basic earnings (loss) per common share:
Continuing operations ....................................... $ 1.09 $ 1.42 $ 1.57 $ 1.41 $ 5.49
Discontinued operations .................................... (0.05) (0.03)(0.06)(0.47)(0.62)
Total basic earnings per common share............. $ 1.04 $ 1.38 $ 1.51 $ 0.94 $ 4.87
Diluted earnings (loss) per common share:
Continuing operations ....................................... $ 1.07 $ 1.39 $ 1.53 $ 1.37 $ 5.37
Discontinued operations .................................... (0.05) (0.03)(0.06)(0.46)(0.60)
Total diluted earnings per common share.......... $ 1.02 $ 1.36 $ 1.47 $ 0.91 $ 4.76
2013
Net sales............................................................. $ 2,448.1 $ 2,830.0 $ 2,730.8 $ 2,880.6 $ 10,889.5
Gross profit........................................................ 900.0 997.3 979.6 1,026.8 3,903.7
Selling, general and administrative expenses.... 658.6 672.1 663.0 696.9 2,690.6
Net earnings from continuing operations .......... 83.5 195.9 169.2 70.4 519.0
Less: Net (loss) earnings attributable to non-
controlling interest............................................. (0.4) (0.3)(0.2)(0.1)(1.0)
Net earnings from continuing operations
attributable to Stanley Black & Decker, Inc...... 83.9 196.2 169.4 70.5 520.0
Net loss from discontinued operations .............. (2.8) (9.1)(3.4)(14.4)(29.7)
Net earnings attributable to Stanley Black &
Decker, Inc......................................................... $ 81.1 $ 187.1 $ 166.0 $ 56.1 $ 490.3
Basic earnings (loss) per common share:
Continuing operations ....................................... $ 0.54 $ 1.26 $ 1.09 $ 0.45 $ 3.35
Discontinued operations .................................... (0.02) (0.06)(0.02)(0.09)(0.19)
Total basic earnings per common share............. $ 0.52 $ 1.21 $ 1.07 $ 0.36 $ 3.16
Diluted earnings (loss) per common share:
Continuing operations ....................................... $ 0.53 $ 1.24 $ 1.07 $ 0.44 $ 3.28
Discontinued operations .................................... (0.02) (0.06)(0.02)(0.09)(0.19)
Total diluted earnings per common share.......... $ 0.51 $ 1.18 $ 1.04 $ 0.35 $ 3.09
The quarterly amounts above have been adjusted for the Security segment's Spain and Italy operations as well as for two small
businesses within the Security and Industrial segments, which have been excluded from continuing operations and are reported
as discontinued operations. Refer to Note T, Discontinued Operations, of the Notes to Consolidated Financial Statements in
Item 8 for further discussion.