GAAP Earnings
Fourth-quarter 2014 net earnings attributable to common shareholders was $19.5 million, or $0.10 per diluted share, compared to net earnings attributable to common shareholders of $104.0 million, or $0.56 per diluted share, in the fourth quarter of 2013. The fourth-quarter 2014 diluted share count increased by 17.6 million shares from the fourth quarter of 2013, primarily related to shares issued in connection with the acquisitions of Consolidated Graphics and the North American operations of Esselte. The fourth-quarter net earnings attributable to common shareholders included pre-tax charges of $143.6 million and $74.5 million in 2014 and 2013, respectively, all of which were excluded from the presentation of non-GAAP net earnings attributable to common shareholders.