(In millions, except per share amounts) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||
Fiscal 2013 | |||||||||||||||
Revenues | $ | 30,798 | $ | 29,850 | $ | 31,187 | $ | 30,620 | |||||||
Gross profit | 1,600 | 1,720 | 1,668 | 1,996 | |||||||||||
Net income (1) (2) (3) (4) (5) | 380 | 401 | 298 | 259 | |||||||||||
Earnings per common share (1) (2) (3) (4) (5) (8) | |||||||||||||||
Diluted | $ | 1.58 | $ | 1.67 | $ | 1.24 | $ | 1.10 | |||||||
Basic | 1.61 | 1.70 | 1.27 | 1.12 | |||||||||||
Fiscal 2012 | |||||||||||||||
Revenues | $ | 29,980 | $ | 30,216 | $ | 30,839 | $ | 31,699 | |||||||
Gross profit | 1,509 | 1,647 | 1,566 | 1,845 | |||||||||||
Net income (6) (7) | 286 | 296 | 300 | 521 | |||||||||||
Earnings per common share (6) (7) (8) | |||||||||||||||
Diluted | $ | 1.13 | $ | 1.18 | $ | 1.20 | $ | 2.09 | |||||||
Basic | 1.15 | 1.20 | 1.22 | 2.14 | |||||||||||
(1) | Financial results for the first, second and fourth quarters of 2013 include AWP litigation charges of $16 million pre-tax ($10 million after-tax), $44 million pre-tax ($27 million after-tax) and $12 million pre-tax ($8 million after-tax), which were recorded in operating expenses. |
(2) | Financial results for the first quarter of 2013 include an $81 million pre-tax ($51 million after-tax) gain on business combination, which was recorded as a reduction to operating expenses. |
(3) | Financial results for the second, third and fourth quarters of 2013 include the pre-tax receipts of $19 million, $8 million and $17 million representing our share of settlements of antitrust class action lawsuits brought against drug manufacturers, which were recorded as a reduction to cost of sales. |
(4) | Financial results for the third quarter of 2013 include a $40 million pre-tax ($29 million after-tax) charge for a legal dispute in our Canadian business which was recorded in operating expenses. |
(5) | Financial results for the fourth quarter of 2013 include the following pre-tax impairment charges: an equity investment of $191 million, goodwill of $36 million, and capitalized software held for sale of $10 million. |
(6) | Financial results for the second, third and fourth quarters of 2012 include AWP litigation charges of $118 million pre-tax ($77 million after-tax), $27 million pre-tax ($15 million after-tax) and $4 million pre-tax (benefit of $32 million after-tax), which were recorded in operating expenses. |
(7) | Financial results for the third and fourth quarters of 2012 include product alignment pre-tax charges of $42 million and $9 million. |
(8) | Certain computations may reflect rounding adjustments. |