Annual report pursuant to Section 13 and 15(d)

Quarterly Data (unaudited)

v3.8.0.1
Quarterly Data (unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data (unaudited)
Quarterly Data (unaudited)

The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The first three quarters of fiscal year 2017 ended on April 1, 2017, July 1, 2017, and September 30, 2017, and the first three quarters of fiscal year 2016 ended on April 2, 2016, July 2, 2016, and October 1, 2016.
 
Quarter Ended
 
   
(in millions, except per share data)
April 1,
2017
 
July 1,
2017
 
September 30,
2017
 
December 31,
2017
 
Year Ended December 31, 2017
Net sales
$
1,082.1

 
$
1,253.9

 
$
1,083.1

 
$
1,090.9

 
$
4,510.0

Gross margin (A) (D)
293.2

 
357.4

 
312.4

 
271.7

 
1,234.7

Pension settlement charge (B)

 

 

 
96.6

 
96.6

Restructuring, exit, integration and impairment charges (C)
8.3

 
4.8

 
6.8

 
16.7

 
36.6

Net earnings (loss) from continuing operations (D)
74.2

 
118.8

 
84.7

 
(90.4
)
 
187.3

Earnings (loss) from discontinued operations, net of tax
(9.3
)
 
0.6

 
(5.7
)
 
(26.5
)
 
(40.9
)
Net earnings (loss)
64.9

 
119.4

 
79.0

 
(116.9
)
 
146.4

Basic earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
   Net earnings (loss) from continuing operations
$
0.82

 
$
1.32

 
$
0.95

 
$
(1.02
)
 
$
2.10

   Net earnings (loss) from discontinued operations
(0.10
)
 
0.01

 
(0.06
)
 
(0.30
)
 
(0.46
)
      Net earnings (loss)
$
0.72

 
$
1.33

 
$
0.89

 
$
(1.32
)
 
$
1.64

Diluted earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
   Net earnings (loss) from continuing operations
$
0.81

 
$
1.31

 
$
0.94

 
$
(1.02
)
 
$
2.08

   Net earnings (loss) from discontinued operations
(0.10
)
 
0.01

 
(0.06
)
 
(0.30
)
 
(0.46
)
      Net earnings (loss)
$
0.71

 
$
1.32

 
$
0.88

 
$
(1.32
)
 
$
1.62

Dividends declared
$
0.165

 
$
0.165

 
$
0.165

 
$
0.19

 
$
0.685

Common stock price (NYSE symbol: BC):
 
 
 
 
 
 
 
 
 
High
$
61.74

 
$
63.82

 
$
63.79

 
$
60.25

 
$
63.82

Low
$
53.95

 
$
54.16

 
$
48.72

 
$
48.04

 
$
48.04

 
 
 
 
 
 
 
 
 
 
 
Quarter Ended
 
 
(in millions, except per share data)
April 2,
2016
 
July 2,
2016
 
October 1,
2016
 
December 31,
2016
 
December 31, 2016
Net sales
$
994.1

 
$
1,159.1

 
$
1,014.4

 
$
986.3

 
$
4,153.9

Gross margin (A)
270.9

 
344.2

 
298.3

 
266.9

 
1,180.3

Pension settlement charge (B)

 

 

 
55.1

 
55.1

Restructuring, exit, integration and impairment charges (C)
3.8

 
2.6

 
2.4

 
6.4

 
15.2

Net earnings from continuing operations
63.4

 
108.4

 
84.1

 
16.7

 
272.6

Earnings (loss) from discontinued operations, net of tax
1.4

 
(0.3
)
 
1.3

 
1.0

 
3.4

Net earnings
64.8

 
108.1

 
85.4

 
17.7

 
276.0

Basic earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
   Net earnings from continuing operations
$
0.69

 
$
1.18

 
$
0.93

 
$
0.19

 
$
2.99

   Net earnings (loss) from discontinued operations
0.02

 
(0.00
)
 
0.01

 
0.01

 
0.04

      Net earnings
$
0.71

 
$
1.18

 
$
0.94

 
$
0.20

 
$
3.03

Diluted earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
   Net earnings from continuing operations
$
0.68

 
$
1.17

 
$
0.92

 
$
0.18

 
$
2.96

   Net earnings (loss) from discontinued operations
0.02

 
(0.00
)
 
0.01

 
0.01

 
0.04

      Net earnings
$
0.70

 
$
1.17

 
$
0.93

 
$
0.19

 
$
3.00

Dividends declared
$
0.15

 
$
0.15

 
$
0.15

 
$
0.165

 
$
0.615

Common stock price (NYSE symbol: BC):
 
 
 
 
 
 
 
 
 
High
$
50.31

 
$
51.59

 
$
50.96

 
$
56.30

 
$
56.30

Low
$
36.05

 
$
41.19

 
$
44.10

 
$
42.02

 
$
36.05


(A) Gross margin is defined as Net sales less Cost of sales as presented in the Consolidated Statements of Operations.
(B) Pension settlement charges are discussed in Note 17 – Postretirement Benefits in the Notes to Consolidated Financial Statements.
(C) Restructuring, exit, integration and impairment charges are discussed in Note 3 – Restructuring, Exit, Integration and Impairment Activities in the Notes to Consolidated Financial Statements.
(D) In the fourth quarter of 2017, Gross margin and Net earnings from continuing operations include $8.4 million and $13.5 million, respectively, of charges for costs related to field campaigns pertaining to certain Cybex products designed prior to the acquisition. Refer to Note 13 – Commitments and Contingencies for further details.
[1],[2],[3],[4]
[1] (A) Gross margin is defined as Net sales less Cost of sales as presented in the Consolidated Statements of Operations.
[2] (B) Pension settlement charges are discussed in Note 17 – Postretirement Benefits in the Notes to Consolidated Financial Statements.
[3] (C) Restructuring, exit, integration and impairment charges are discussed in Note 3 – Restructuring, Exit, Integration and Impairment Activities in the Notes to Consolidated Financial Statements.
[4] (D) In the fourth quarter of 2017, Gross margin and Net earnings from continuing operations include $8.4 million and $13.5 million, respectively, of charges for costs related to field campaigns pertaining to certain Cybex products designed prior to the acquisition. Refer to Note 13 – Commitments and Contingencies for further details.