NOTE 22 - QUARTERLY RESULTS (UNAUDITED)
| | | | | | | | | | | | | | | | | | Spectrum Brands Holdings, Inc. | | Quarter Ended | 2016 (in millions, except per share) | | September 30, 2016 | | July 3, 2016 | | April 3, 2016 | | January 3, 2016 | Net sales | | $ | 1,249.8 |
| | $ | 1,361.5 |
| | $ | 1,209.6 |
| | $ | 1,218.8 |
| Gross profit | | 485.8 |
| | 530.6 |
| | 462.8 |
| | 440.7 |
| Net income attributable to controlling interest | | 89.0 |
| | 101.9 |
| | 92.6 |
| | 73.6 |
| Basic earnings per share | | $ | 1.50 |
| | $ | 1.72 |
| | $ | 1.56 |
| | $ | 1.24 |
| Diluted earnings per share | | $ | 1.49 |
| | $ | 1.71 |
| | $ | 1.55 |
| | $ | 1.24 |
|
| | | | | | | | | | | | | | | | | | Spectrum Brands Holdings, Inc. | | Quarter Ended | 2015 (in millions, except per share) | | September 30, 2015 | | June 28, 2015 | | March 29, 2015 | | December 28, 2014 | Net sales | | $ | 1,308.1 |
| | $ | 1,247.5 |
| | $ | 1,067.0 |
| | $ | 1,067.8 |
| Gross profit | | 467.4 |
| | 458.0 |
| | 374.7 |
| | 370.2 |
| Net income attributable to controlling interest | | 26.4 |
| | 44.9 |
| | 27.8 |
| | 49.8 |
| Basic earnings per share | | $ | 0.44 |
| | $ | 0.79 |
| | $ | 0.52 |
| | $ | 0.94 |
| Diluted earnings per share | | $ | 0.44 |
| | $ | 0.79 |
| | $ | 0.52 |
| | $ | 0.94 |
|
| | | | | | | | | | | | | | | | | | SB/RH Holdings, LLC | | Quarter Ended | 2016 (in millions) | | September 30, 2016 | | July 3, 2016 | | April 3, 2016 | | January 3, 2016 | Net sales | | $ | 1,249.8 |
| | $ | 1,361.5 |
| | $ | 1,209.6 |
| | $ | 1,218.8 |
| Gross profit | | 485.8 |
| | 530.6 |
| | 462.8 |
| | 440.7 |
| Net income attributable to controlling interest | | 88.9 |
| | 105.1 |
| | 82.5 |
| | 75.4 |
|
| | | | | | | | | | | | | | | | | | SB/RH Holdings, LLC | | Quarter Ended | 2015 (in millions) | | September 30, 2015 | | June 28, 2015 | | March 29, 2015 | | December 28, 2014 | Net sales | | $ | 1,308.1 |
| | $ | 1,247.5 |
| | $ | 1,067.0 |
| | $ | 1,067.8 |
| Gross profit | | 467.4 |
| | 458.0 |
| | 374.7 |
| | 370.2 |
| Net income attributable to controlling interest | | 28.4 |
| | 46.6 |
| | 29.6 |
| | 50.8 |
|
As previously discussed in Note 2, “Significant Accounting Policies and Practices”, the Company adopted ASU No. 2016-09. The Company had elected to early adopt the ASU during the quarter ended July 3, 2016 effective as if adopted the first day of the fiscal year, October 1, 2015. The adoption of the new standard impacted our previously reported quarterly results for the recognition of excess tax benefits in our provision for income taxes rather than paid in capital. Due to the valuation allowance on deferred taxes, there was no impact to our quarterly results for the quarter ended January 3, 2016. The following summarizes the impact to the quarter ended April 3, 2016:
| | | | | | | | | | | | | | | | Quarter Ended April 3, 2016 | SBH (in millions, except per share) | | As Reported | | Adjustment | | As Adjusted | Net income attributable to controlling interest | | 75.2 |
| | 17.4 |
| | 92.6 |
| Basic earnings per share | | $ | 1.27 |
| | $ | 0.29 |
| | $ | 1.56 |
| Diluted earnings per share | | $ | 1.26 |
| | $ | 0.29 |
| | $ | 1.55 |
|
| | | | | | | | | | | | | Quarter Ended April 3, 2016 | SB/RH (in millions) | | As Reported | | Adjustment | | As Adjusted | Net income attributable to controlling interest | | 72.1 |
| | 10.4 |
| | 82.5 |
|
|