beatandraise : SEC Filings Research with AI

1.0.0.3 false QUARTERLY RESULTS (UNAUDITED) false 1 $ false false iso4217_USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 iso4217_USD_per_shares Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares 0 shares Standard http://www.xbrl.org/2003/instance shares 0 5 QUARTERLY RESULTS (UNAUDITED) 3 us-gaap_QuarterlyFinancialInformationTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div> Note 12—QUARTERLY RESULTS (UNAUDITED) The following tables contain selected unaudited statement of operations information for each quarter of 2009 and 2008. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. Our business is affected by seasonality, which historically has resulted in higher sales volume during our fourth quarter. Unaudited quarterly results are as follows (in millions, except per share data):   <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="72%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="11">Year Ended December 31, 2009 (1)</td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Fourth Quarter</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Third Quarter</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Second Quarter</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">First Quarter</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net sales </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,519</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,449</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,651</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,889</td> </tr> <tr> <td valign="top"> Gross profit </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,976</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,273</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,133</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,148</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Income before income taxes </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">471</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">262</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">179</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">248</td> </tr> <tr> <td valign="top"> Provision for income taxes </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">85</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">60</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">39</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">69</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net income </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">384</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">199</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">142</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">177</td> </tr> <tr> <td valign="top"> Basic earnings per share </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.87</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.46</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.33</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.41</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Diluted earnings per share </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.45</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.32</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.41</td> </tr> <tr> <td valign="top"> Shares used in computation of earnings per share: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Basic </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">440</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">432</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">431</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">429</td> </tr> <tr> <td valign="top"> Diluted </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">450</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">441</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">440</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">437</td> </tr> </table>   <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="72%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="11">Year Ended December 31, 2008 (1)</td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Fourth Quarter</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Third Quarter</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">Second Quarter</td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center" colspan="2">First Quarter</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net sales (2) </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,704</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,264</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,063</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,135</td> </tr> <tr> <td valign="top"> Gross profit </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,348</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">999</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">967</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">956</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Income before income taxes </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">302</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">182</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">208</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">207</td> </tr> <tr> <td valign="top"> Provision for income taxes </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">79</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">59</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">46</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">62</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Net income </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">225</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">118</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">158</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">143</td> </tr> <tr> <td valign="top"> Basic earnings per share </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.52</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.28</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.38</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.34</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Diluted earnings per share </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.52</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.27</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.37</td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.34</td> </tr> <tr> <td valign="top"> Shares used in computation of earnings per share: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> Basic </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">428</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">427</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">420</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">417</td> </tr> <tr> <td valign="top"> Diluted </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">436</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">436</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">430</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">426</td> </tr> </table>   <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" align="left" width="4%">(1)</td> <td valign="top" align="left">The sum of quarterly amounts, including per share amounts, may not equal amounts reported for year-to-date periods. This is due to the effects of rounding and changes in the number of weighted-average shares outstanding for each period.</td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" align="left" width="4%">(2)</td> <td valign="top" align="left">Our year-over-year revenue growth was 36% for the first three quarters of 2008. For Q4 2008, our quarterly revenue growth rates declined to 18%, driven primarily by decreased consumer demand following disruptions in the global financial markets and changes in foreign exchange rates (excluding the $320 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the fourth quarter, net sales would have grown 24% compared with Q4 2007).</td> </tr> </table> </div> Note 12—QUARTERLY RESULTS (UNAUDITED) The following tables contain selected unaudited statement of operations information for each quarter of 2009 and false false No definition available. No authoritative reference available. false false 1 1 false UnKnown UnKnown UnKnown false true