(in millions, except per common share amounts) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter (1) | |||||||||||
Fiscal 2013 | |||||||||||||||
Revenue | $ | 25,889 | $ | 25,232 | $ | 24,552 | $ | 25,420 | |||||||
Gross margin | 1,159 | 1,224 | 1,291 | 1,247 | |||||||||||
Distribution, selling, general and administrative expenses | 690 | 699 | 712 | 775 | |||||||||||
Earnings/(loss) from continuing operations | 272 | 303 | 346 | (586 | ) | ||||||||||
Loss from discontinued operations, net of tax | (1 | ) | — | (1 | ) | — | |||||||||
Net earnings/(loss) | 271 | 303 | 345 | (586 | ) | ||||||||||
Earnings/(loss) from continuing operations per common share: | |||||||||||||||
Basic | $ | 0.80 | $ | 0.89 | $ | 1.01 | $ | (1.72 | ) | ||||||
Diluted (2) | 0.79 | 0.88 | 1.00 | (1.72 | ) | ||||||||||
(in millions, except per common share amounts) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||
Fiscal 2012 | |||||||||||||||
Revenue | $ | 26,792 | $ | 27,078 | $ | 26,918 | $ | 26,764 | |||||||
Gross margin | 1,084 | 1,114 | 1,207 | 1,136 | |||||||||||
Distribution, selling, general and administrative expenses | 644 | 640 | 683 | 712 | |||||||||||
Earnings from continuing operations | 237 | 264 | 332 | 236 | |||||||||||
Earnings/(loss) from discontinued operations, net of tax | — | (2 | ) | 1 | — | ||||||||||
Net earnings | 237 | 262 | 333 | 236 | |||||||||||
Earnings from continuing operations per common share: | |||||||||||||||
Basic | $ | 0.69 | $ | 0.77 | $ | 0.96 | $ | 0.68 | |||||||
Diluted | 0.68 | 0.76 | 0.95 | 0.68 | |||||||||||
(1) | During the fourth quarter of fiscal 2013, we recorded an out-of-period increase in income tax expense of $14 million related to uncertain tax benefits, of which generally less than $1 million pertained to the each of the first three quarters of fiscal 2013 and each of the quarters in fiscal 2012. The amounts were not material individually or in the aggregate to current or prior periods. |
(2) | Due to the loss from continuing operations incurred during the fourth quarter of fiscal 2013, potential dilutive common shares have not been included in the denominator of the diluted per share computation for this period due to their antidilutive effect. |