17. Unaudited Quarterly Financial Information The following table sets forth certain unaudited quarterly consolidated statement of operations information for the fiscal years ended February 1, 2020 and February 2, 2019 (in millions, except per share amounts). The unaudited quarterly information includes all normal recurring adjustments that our management considers necessary for a fair presentation of the information shown. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year 2019 | | Fiscal Year 2018 | | | 1st Quarter | | 2nd Quarter(2) | | 3rd Quarter(2) | | 4th
Quarter(2) | | 1st Quarter | | 2nd Quarter | | 3rd Quarter(2) | | 4th Quarter(2) | Net sales(1) | | $ | 1,547.7 |
| | $ | 1,285.7 |
| | $ | 1,438.5 |
| | $ | 2,194.1 |
| | $ | 1,785.8 |
| | $ | 1,501.1 |
| | $ | 1,935.4 |
| | $ | 3,063.0 |
| Gross profit(1) | | 471.2 |
| | 399.1 |
| | 441.1 |
| | 597.3 |
| | 531.1 |
| | 470.0 |
| | 558.2 |
| | 748.8 |
| Operating earnings (loss)(1) | | 17.5 |
| | (446.7 | ) | | (45.6 | ) | | 75.2 |
| | 46.5 |
| | 1.5 |
| | (517.9 | ) | | (232.1 | ) | Net income (loss) from continuing operations | | 7.5 |
| | (413.6 | ) | | (83.2 | ) | | 24.9 |
| | 20.4 |
| | (39.8 | ) | | (506.9 | ) | | (268.5 | ) | (Loss) income from discontinued operations, net of tax | | (0.7 | ) | | (1.7 | ) | | (0.2 | ) | | (3.9 | ) | | 7.8 |
| | 14.9 |
| | 18.3 |
| | 80.8 |
| Net income (loss) | | 6.8 |
| | (415.3 | ) | | (83.4 | ) | | 21.0 |
| | 28.2 |
| | (24.9 | ) | | (488.6 | ) | | (187.7 | ) | Basic earnings (loss) per share:(3) (4) | | | | | | | | | | | | | | | | | Continuing operations | | $ | 0.07 |
| | $ | (4.14 | ) | | $ | (1.01 | ) | | $ | 0.38 |
| | $ | 0.20 |
| | $ | (0.39 | ) | | $ | (4.96 | ) | | $ | (2.63 | ) | Discontinued operations | | (0.01 | ) | | (0.02 | ) | | — |
| | (0.06 | ) | | 0.08 |
| | 0.15 |
| | 0.18 |
| | 0.79 |
| Basic earnings (loss) per share | | $ | 0.07 |
| | $ | (4.15 | ) | | $ | (1.02 | ) | | $ | 0.32 |
| | $ | 0.28 |
| | $ | (0.24 | ) | | $ | (4.78 | ) | | $ | (1.84 | ) | Diluted earnings (loss) per share:(3) (4) | | | | | | | | | | | | | | | | | Continuing operations | | $ | 0.07 |
| | $ | (4.14 | ) | | $ | (1.01 | ) | | $ | 0.38 |
| | $ | 0.20 |
| | $ | (0.39 | ) | | $ | (4.96 | ) | | $ | (2.63 | ) | Discontinued operations | | (0.01 | ) | | (0.02 | ) | | — |
| | (0.06 | ) | | 0.08 |
| | 0.15 |
| | 0.18 |
| | 0.79 |
| Diluted earnings (loss) per share | | $ | 0.07 |
| | $ | (4.15 | ) | | $ | (1.02 | ) | | $ | 0.32 |
| | $ | 0.28 |
| | $ | (0.24 | ) | | $ | (4.78 | ) | | $ | (1.84 | ) | Dividend declared per common share | | $ | 0.38 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 0.38 |
| | $ | 0.38 |
| | $ | 0.38 |
|
| $ | 0.38 |
|
| | (1) | Net sales, gross profit and operating earnings (loss) differ from the amounts previously reported in our Quarterly Reports on Form 10-Q in fiscal year 2018 as a result of our former Spring Mobile business being classified as discontinued operations for all periods presented. See Note 2, "Discontinued Operations and Dispositions," for additional information. |
| | (2) | The results of operations in fiscal 2019 include goodwill impairment charges for the second quarter totaling $363.9 million on a pre-tax basis and asset impairment charges for the third and fourth quarters totaling $11.3 million and $10.4 million, respectively, on a pre-tax basis. The results of operations for the third and fourth quarters of fiscal 2018 include goodwill and asset impairment charges totaling $587.5 million and $428.4 million, respectively, on a pre-tax basis. |
| | (3) | The sum of the quarters may not necessarily be equal to the full year (loss) earnings per common share amount. |
(4) The sum of earnings (loss) per share may not total to consolidated (loss) earnings per common share as amounts are calculated based on whole numbers.
|