108   Fair Value Measurement   December 31, 2012 December 31, 2011 (in millions) Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Assets:                 Derivative assets $ — $ 7.1 $ — $ 7.1 $ — $ 10.7 $ — $ 10.7 Equity securities 17.7 — — 17.7 15.2 — — 15.2 Total Assets $ 17.7 $ 7.1 $ — $ 24.8 $ 15.2 $ 10.7 $ — $ 25.9 Liabilities:                 Derivative liabilities $ — $ 10.1 $ — $ 10.1 $ — $ 36.2 $ — $ 36.2 Total liabilities $ — $ 10.1 $ — $ 10.1 $ — $ 36.2 $ — $ 36.2 At December 31, 2012 , there were no financial assets or financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Similarly , there were no nonfinancial assets or nonfinancial liabilities measured at fair value on a non-recurring basis. W ith the adoption of ASU 2010-06, there were no transfers in and out of Level 1 and Level 2 fair value measurements to be disclosed, as discussed in Note 2 - Summary of Significant Accounting Policies. 21. Quarterly Operating Results (Unaudited) The interim financial information is unaudited. In the opinion of management, the interim financial information reflects all adjustments necessary for a fair presentation of quarterly financial information. Quarterly results have been influenced by seasonal factors inherent in General Cable’ s businesses. The sum of the quarters’ earnings per share amounts may not add to full year earnings per share because each quarter is calculated independently , and the sum of the quarters’ other figures may not add to the full year because of rounding. The Company's fiscal quarters consist of 13-week periods ending on the Friday nearest to the end of the calendar months of March, June and September . Summarized historical quarterly financial data for 2012 and 201 1 are set forth below (in millions, except per share data): First Quarter Second Quarter Third Quarter Fourth Quarter 2012         Net sales $ 1,432.5 $ 1,478.1 $ 1,500.6 $ 1,603.1 Gross profit 144.5 173.5 163.0 133.2 Net income (loss) attributable to Company common shareholders 22.7 18.8 (20.6 ) (17.2 ) Net income (loss) attributable to Company common shareholders — for diluted EPS computation 22.8 18.9 (20.5 ) (17.2 ) Earnings (loss) per common share — basic $ 0.46 $ 0.38 $ (0.41 ) $ (0.35 ) Earnings (loss) per common share — assuming dilution $ 0.45 $ 0.37 $ (0.41 ) $ (0.35 ) 2011         Net sales $ 1,447.6 $ 1,532.2 $ 1,517.8 $ 1,369.1 Gross profit 163.0 170.3 151.7 122.7 Net income (loss) attributable to Company common shareholders 34.0 33.2 (2.1 ) 0.6 Net income (loss) attributable to Company common shareholders — for diluted EPS computation 34.1 33.3 (2.0 ) 0.6 Earnings (loss) per common share — basic $ 0.65 $ 0.64 $ (0.04 ) $ 0.01 Earnings (loss) per common share — assuming dilution $ 0.63 $ 0.61 $ (0.04 ) $ 0.01 Quarterly results have been impacted by changes in volume, copper and aluminum prices as well as seasonal factors inherent in the Company's businesses. T able of Contents