| Quarterly Data (unaudited) |
Note 21 – Quarterly Data (unaudited)
Brunswick maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters ending on the Saturday closest to the end of the period (13-week periods). The first three quarters of fiscal year 2013 ended on March 30, 2013, June 29, 2013, and September 28, 2013, and the first three quarters of fiscal year 2012 ended on March 31, 2012, June 30, 2012, and September 29, 2012.
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Quarter Ended |
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(in millions, except per share data) |
March 30,
2013 |
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June 29,
2013 |
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September 28,
2013 |
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December 31,
2013 |
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Year Ended December 31, 2013 |
Net sales |
$ |
995.3 |
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$ |
1,098.3 |
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$ |
892.4 |
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$ |
901.5 |
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$ |
3,887.5 |
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Gross margin (A)
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261.9 |
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301.6 |
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238.3 |
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213.4 |
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1,015.2 |
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Restructuring, exit and impairment charges |
5.6 |
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4.0 |
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3.1 |
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8.7 |
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21.4 |
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Loss on early extinguishment of debt |
0.1 |
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32.3 |
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0.3 |
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0.1 |
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32.8 |
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Net earnings from continuing operations |
54.9 |
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79.3 |
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57.4 |
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583.6 |
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775.2 |
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Net earnings (loss) from discontinued operations, net of tax |
(5.1 |
) |
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1.1 |
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0.4 |
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(2.4 |
) |
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(6.0 |
) |
Net earnings |
49.8 |
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80.4 |
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57.8 |
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581.2 |
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769.2 |
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Basic earnings (loss) per common share: |
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Net earnings from continuing operations |
$ |
0.61 |
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$ |
0.87 |
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$ |
0.63 |
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$ |
6.35 |
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$ |
8.50 |
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Net earnings (loss) from discontinued operations |
$ |
(0.06 |
) |
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$ |
0.01 |
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$ |
0.00 |
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$ |
(0.02 |
) |
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$ |
(0.07 |
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Net earnings |
$ |
0.55 |
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$ |
0.88 |
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$ |
0.63 |
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$ |
6.33 |
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$ |
8.43 |
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Diluted earnings (loss) per common share: |
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Net earnings from continuing operations |
$ |
0.59 |
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$ |
0.85 |
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$ |
0.61 |
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$ |
6.18 |
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$ |
8.26 |
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Net earnings (loss) from discontinued operations |
$ |
(0.06 |
) |
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$ |
0.01 |
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$ |
0.00 |
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$ |
(0.02 |
) |
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$ |
(0.06 |
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Net earnings |
$ |
0.53 |
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$ |
0.86 |
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$ |
0.61 |
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$ |
6.16 |
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$ |
8.20 |
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Dividends declared |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
0.10 |
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$ |
0.10 |
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Common stock price (NYSE symbol: BC): |
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High |
$ |
37.23 |
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$ |
35.40 |
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$ |
40.76 |
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$ |
46.48 |
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$ |
46.48 |
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Low |
$ |
30.92 |
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$ |
30.42 |
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$ |
32.36 |
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$ |
39.09 |
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$ |
30.42 |
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Quarter Ended |
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(in millions, except per share data) |
March 31,
2012 |
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June 30,
2012 |
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September 29,
2012 |
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December 31,
2012 |
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Year Ended December 31, 2012 |
Net sales |
$ |
959.6 |
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$ |
1,053.9 |
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$ |
874.3 |
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$ |
829.8 |
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$ |
3,717.6 |
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Gross margin (A)
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238.2 |
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283.9 |
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233.0 |
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188.9 |
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944.0 |
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Restructuring, exit and impairment charges |
0.2 |
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0.8 |
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14.3 |
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10.5 |
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25.8 |
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Loss on early extinguishment of debt |
— |
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4.4 |
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7.5 |
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4.4 |
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16.3 |
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Net earnings (loss) from continuing operations |
47.0 |
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94.0 |
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22.5 |
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(16.1 |
) |
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147.4 |
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Net loss from discontinued operations, net of tax |
(7.3 |
) |
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(10.4 |
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(20.5 |
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(59.2 |
) |
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(97.4 |
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Net earnings (loss) |
39.7 |
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83.6 |
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2.0 |
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(75.3 |
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50.0 |
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Basic earnings (loss) per common share: |
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Net earnings (loss) from continuing operations |
$ |
0.52 |
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$ |
1.05 |
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$ |
0.25 |
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$ |
(0.18 |
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$ |
1.64 |
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Net loss from discontinued operations |
$ |
(0.08 |
) |
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$ |
(0.12 |
) |
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$ |
(0.23 |
) |
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$ |
(0.66 |
) |
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$ |
(1.08 |
) |
Net earnings (loss) |
$ |
0.44 |
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$ |
0.93 |
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$ |
0.02 |
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$ |
(0.84 |
) |
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$ |
0.56 |
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Diluted earnings (loss) per common share: |
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Net earnings (loss) from continuing operations |
$ |
0.51 |
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$ |
1.02 |
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$ |
0.24 |
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$ |
(0.18 |
) |
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$ |
1.59 |
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Net loss from discontinued operations |
$ |
(0.08 |
) |
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$ |
(0.12 |
) |
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$ |
(0.22 |
) |
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$ |
(0.66 |
) |
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$ |
(1.05 |
) |
Net earnings (loss) |
$ |
0.43 |
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$ |
0.90 |
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$ |
0.02 |
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$ |
(0.84 |
) |
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$ |
0.54 |
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Dividends declared |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
0.05 |
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$ |
0.05 |
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Common stock price (NYSE symbol: BC): |
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High |
$ |
26.70 |
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$ |
27.04 |
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$ |
25.46 |
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$ |
29.09 |
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$ |
29.09 |
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Low |
$ |
18.49 |
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$ |
19.83 |
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$ |
20.21 |
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$ |
21.24 |
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$ |
18.49 |
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(A) |
Gross margin is defined as Net sales less Cost of sales as presented in the Consolidated Statements of Operations. |
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