NOTE 20 – quArTErlY FINANCIAl dATA (Unaudited) 85 THE TIMKEN COMPANY 2011 1st 2nd 3rd 4th Total Net sales $ 1,254.1  $ 1,329.6  $ 1,321.8  $ 1,264.7  $ 5,170.2  Gross profit  (1)  333.3   350.5   343.3   342.6   1,369.7  Impairment and restructuring charges  (2)  1.1   6.2   1.2   5.9   14.4  Income from continuing operations  113.8   122.3   112.2   108.3   456.6  Net income  113.8   122.3   112.2   108.3   456.6  Net income (loss) attributable to noncontrolling  interests  1.1   0.8   1.2   (0.8)  2.3  Net income attributable to The Timken company  112.7   121.5   111.0   109.1   454.3  Net income per share – basic: Income from continuing operations  1.15   1.24   1.13   1.12   4.65  Total net income per share  1.15   1.24   1.13   1.12   4.65  Net income per share – Diluted: Income from continuing operations  1.13   1.22   1.12   1.11   4.59  Total net income per share  1.13   1.22   1.12   1.11   4.59  Dividends per share  0.18   0.20   0.20   0.20   0.78  2010 1st 2nd 3rd 4th Total Net sales $ 913.7 $ 1,011.4  $ 1,059.7  $ 1,070.7  $ 4,055.5  Gross profit  222.7   268.3   265.1   265. 6   1,021.7  Impairment and restructuring charges  (3)  5.5   1.0   2.9   12.3   21.7  Income from continuing operations  (4)  28.7   82.0   72.2   86.6   269.5  Income (loss) from discontinued operations  (5)  0.3   4.2   (1.1)  4.0   7.4  Net income  29.0   86.2   71.1   90.6   276.9  Net income attributable to noncontrolling interests  0.4   0.6   0.8   0.3   2.1  Net income attributable to The Timken Company  28.6   85.6   70.3   90.3   274.8  Net income per share – Basic: Income from continuing operations  0.29   0.84   0.74   0.89   2.76  Income (loss) from discontinued operations  0.01   0.04   (0.01)  0.04   0.07  Total net income per share  0.30   0.88   0.73   0.93   2.83  Net income per share – Diluted: Income from continuing operations  0.29   0.84   0.73   0.87   2.73  Income (loss) from discontinued operations  –   0.04   (0.01)  0.04   0.08  Total net income per share  0.29   0.88   0.72   0.91   2.81  Dividends per share  0.09   0.13   0.13   0.18   0.53  Earnings per share are computed independently for each of the quarters presented; therefore, the sum of the quarterly earnings per  share may not equal the total computed for the year. (1)  Gross profit for the second quarter of 2011 includes an inventory write-down of $3.2 million related to the Company’s decision to exit  certain non-strategic aerospace aftermarket product lines. (2) Impairment and restructuring charges for the second quarter of 2011 include exit costs of $5.6 million, impairment charges of $0.4  million and severance and related benefit costs of $0.2 million. Impairment and restructuring charges for the fourth quarter of 2011  include exit costs of $5.9 million. (3) Impairment and restructuring charges for the first quarter of 2010 include severance and related benefit costs of $5.0 million and exit  costs of $0.5 million. Impairment and restructuring charges for the fourth quarter of 2010 include exit costs of $8.2 million, impairment  charges of $2.7 million and severance and related benefit costs of $1.4 million. (4) Income from continuing operations for the first quarter of 2010 includes a charge of $21.6 million to record the deferred tax impact of  the PPACA. Income from continuing operations for the fourth quarter of 2010 includes an income tax benefit of $19.8 million related  to contributions to a VEBA trust. (5) Discontinued operations for 2010 reflects a working capital adjustment related to the sale of the NRB operations, net of tax.  FINANCIAls ANd FOOTNOTEs