Note 16. Quarterly Financial Information (Unaudited)
Fiscal Year Ended September 30, 2013 | |||||||||||||||
First | Second | Third | Fourth | Fiscal | |||||||||||
Quarter | Quarter | Quarter | Quarter | Year | |||||||||||
(In thousands, except per share amounts) | |||||||||||||||
Revenue | $ | 21,059,811 | $ | 20,523,668 | $ | 21,906,648 | $ | 24,469,040 | $ | 87,959,167 | |||||
Gross profit (a) | $ | 660,828 | $ | 716,989 | $ | 562,450 | $ | 567,552 | $ | 2,507,819 | |||||
Distribution, selling and | |||||||||||||||
administrative expenses, | |||||||||||||||
depreciation, and | |||||||||||||||
amortization | 359,384 | 363,404 | 372,311 | 400,799 | 1,495,898 | ||||||||||
Warrants | - | 3,761 | 35,815 | 50,479 | 90,055 | ||||||||||
Employee severance, | |||||||||||||||
litigation and other | 2,004 | (299) | 19,678 | 2,084 | 23,467 | ||||||||||
Operating income | $ | 299,440 | $ | 350,123 | $ | 134,646 | $ | 114,190 | $ | 898,399 | |||||
Income from continuing operations | $ | 174,621 | $ | 204,143 | $ | 64,110 | $ | 50,561 | $ | 493,435 | |||||
(Loss) income from discontinued | |||||||||||||||
operations, net of tax (b) | (6,010) | (158,509) | 104,329 | 462 | (59,728) | ||||||||||
Net income | $ | 168,611 | $ | 45,634 | $ | 168,439 | $ | 51,023 | $ | 433,707 | |||||
Earnings per share from continuing | |||||||||||||||
operations: | |||||||||||||||
Basic | $ | 0.75 | $ | 0.89 | $ | 0.28 | $ | 0.22 | $ | 2.14 | |||||
Diluted | $ | 0.74 | $ | 0.87 | $ | 0.27 | $ | 0.22 | $ | 2.10 | |||||
Earnings per share: | |||||||||||||||
Basic | $ | 0.73 | $ | 0.20 | $ | 0.73 | $ | 0.22 | $ | 1.88 | |||||
Diluted | $ | 0.71 | $ | 0.19 | $ | 0.71 | $ | 0.22 | $ | 1.84 | |||||
____________ | |||||||||||||||
(a)
(b)
The first, second, third and fourth quarters of 2013 include gains of $12.3 million, $3.5 million, $6.0 million, and $1.1 million, respectively, from antitrust litigation settlements. The first, second, third, and fourth quarters of 2013 include a LIFO charge of $1.1 million, a LIFO credit of $0.2 million, a LIFO charge of $122.1 million, and a LIFO charge of $154.0 million, respectively.
Includes (loss) income from AB and ABCC, both of which were divested in May 2013 (see Note 3).
Fiscal Year Ended September 30, 2012 | ||||||||||||||
First | Second | Third | Fourth | Fiscal | ||||||||||
Quarter | Quarter | Quarter | Quarter | Year | ||||||||||
(In thousands, except per share amounts) | ||||||||||||||
Revenue | $ | 19,981,185 | $ | 19,708,371 | $ | 19,326,807 | $ | 19,064,443 | $ | 78,080,806 | ||||
Gross profit (a) | $ | 573,262 | $ | 679,741 | $ | 667,866 | $ | 713,817 | $ | 2,634,686 | ||||
Distribution, selling and | ||||||||||||||
administrative expenses, | ||||||||||||||
depreciation and amortization | 286,300 | 293,654 | 339,345 | 367,632 | 1,286,931 | |||||||||
Employee severance, litigation | ||||||||||||||
and other | 3,559 | 9,027 | 4,135 | 27,419 | 44,140 | |||||||||
Operating income | $ | 283,403 | $ | 377,060 | $ | 324,386 | $ | 318,766 | $ | 1,303,615 | ||||
Income from continuing operations | $ | 161,592 | $ | 219,143 | $ | 190,177 | $ | 190,449 | $ | 761,361 | ||||
Income (loss) from discontinued | ||||||||||||||
operations, net of tax (b) | 524 | (7,038) | (8,906) | (26,955) | (42,375) | |||||||||
Net income | $ | 162,116 | $ | 212,105 | $ | 181,271 | $ | 163,494 | $ | 718,986 | ||||
Earnings per share from continuing | ||||||||||||||
operations: | ||||||||||||||
Basic | $ | 0.63 | $ | 0.85 | $ | 0.75 | $ | 0.78 | $ | 3.01 | ||||
Diluted | $ | 0.61 | $ | 0.84 | $ | 0.74 | $ | 0.77 | $ | 2.96 | ||||
Earnings per share: | ||||||||||||||
Basic | $ | 0.63 | $ | 0.82 | $ | 0.72 | $ | 0.67 | $ | 2.84 | ||||
Diluted | $ | 0.62 | $ | 0.81 | $ | 0.71 | $ | 0.66 | $ | 2.80 | ||||
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