These condensed consolidated financial statements are unaudited and have been prepared following the rules and regulations of the United States Securities and Exchange Commission and, in the Company's opinion, reflect all adjustments, including normal recurring items that are necessary for a fair statement of the results for the interim periods. Certain information and note disclosures normally included in the balance sheet, statements of income, comprehensive income, statements of shareholder’s equity and cash flows prepared in conformity with accounting principles generally accepted in the United States of America have been condensed or omitted as permitted by such rules and regulations. Operating results of any interim period presented herein are not necessarily indicative of the results that may be expected for a full fiscal year.

Adoption of the new guidance,standard resulted in the contract is defined as the order received from the Company's customer who, in most cases, is onerecording of the Company's independent distributors or a memberadditional net lease assets and lease liabilities of its independent sales force. Revenue is recognized when control of the product passes to the customer, which is upon shipment,$82.0 million and is recognized at the amount that reflects the consideration the Company expects to receive for the products sold, including various forms of discounts.  Generally, payment is either received in advance or in a relatively short period of time following shipment. When revenue is recorded, estimates of returns are made and recorded as a reduction of revenue. Contracts with customers are evaluated to determine if there are separate performance obligations that are not yet met. These obligations generally relate to product awards to be subsequently fulfilled. When that is the case, revenue is deferred until each performance obligation is met. The impact$83.3 million, respectively, as of the end of the third quarter of 2018 from deferred revenue was not material.

The cost of products sold line item includes costs related to the purchase and manufacture of goods sold by the Company. Among these costs are inbound freight charges, duties, purchasing and receiving costs, inspection costs, depreciation expense, internal transfer costs and warehousing costs of raw material, work in process and packing materials. The warehousing and distribution costs of finished goods are included in delivery, sales and administrative expense (“expenses ("DS&A”&A"). Distribution costs are comprised of outbound freight and associated labor costs. Fees billed to customers associated with the distribution of products are classified as revenue. The distribution costs included in DS&A expense were $32.5$32.8 million and $35.0$35.5 million for the thirdfirst quarters of 2019 and 2018, and 2017, respectively, and $103.8 million and $105.5 million for the respective year-to-date periods.respectively.

The Company frequently makes promotional offers to members of its independent sales force to encourage them to fulfill specific goals or targets for other activities, ancillary to the Company's business, but considered separate and distinct services from sales, which are measured by defined group/team sales levels, party attendance, addition of new sales force members or other business-critical functions. The awards offered are in the form of product awards, special prizes or trips.

The Company accrues for the costs of these awards during the period over which the sales force qualifies for the award and reports these costs primarily as a component of DS&A expense. These accruals require estimates as to the cost of the awards, based upon estimates of achievement and actual cost to be incurred. During the qualification period, actual results are monitored, and changes to the original estimates are made when known. Promotional and other sales force compensation expenses included in DS&A expense totaled $73.0$78.6 million and $86.4$88.4 million for the thirdfirst quarters of 2019 and 2018, and 2017, respectively, and $244.1 million and $274.0 million for the respective year-to-date periods.respectively.

Basic per share information is calculated by dividing net income by the weighted average number of shares outstanding. Diluted per share information is calculated by also considering the impact of potential common stock on both net income and the weighted average number of shares outstanding.

Pretax amounts reclassified from accumulated other comprehensive loss that related to cash flow hedges consisted of net gainsloss of $4.2$0.5 million and $1.0a gain of $0.1 million forin the year-to-date periods ended September 29,first quarters of 2019 and 2018, and September 30, 2017, respectively. Associated with these items were a tax provisionsbenefit of $1.1$0.2 million and $0.4a provision of $0.2 million, respectively. See Note 11 for further discussion of derivatives.

ForIn the year-to-date periods ended September 29,first quarters of 2019 and 2018, and September 30, 2017, pretax amounts reclassified from accumulated other comprehensive loss related to pension and other post-retirement items consisted of prior service benefits of $0.6 million and $1.1 million, actuarial losses of $0.3 million and $1.1$0.4 million, respectively, and in 2018, an actuarial loss of $0.1 million and a pension settlement costscost of $0.6 million and $0.9 million, respectively.$0.1 million. Associated with these items was awere tax provisionprovisions of $0.2 million and $0.1 million in 2019 and 2018, and benefit of $0.2 million in 2017.respectively. See Note 13 to the Consolidated Financial Statements for further discussion of pension and other post-retirement benefit costs.

The Company recorded $3.0$4.3 million and $9.0$7.6 million in re-engineering charges during the thirdfirst quarters of 2019 and 2018, and 2017, respectively, and $12.7 million and $43.9 million for the respective year-to-date periods.respectively.

In 20182019 and 2017,2018, the re-engineering and impairment charges incurred were primarily related to severance costs and restructuring actions taken in connection with the Company's plans through 2019, to rationalize its supply chain and to adjust the cost base of several marketing units. The restructuring charges also relateCompany incurred $3.1 million and $7.6 million in the first quarters of 2019 and 2018, respectively, related to the Company's decision to wind-downrevitalization program announced in July 2017.

In January 2019, the Beauticontrol reporting unitCompany announced an acceleration of investment in 2017.its Global Growth Strategy initiatives through the commencement of a transformation program running through 2022. In the year-to-date periodsfirst quarter of 2018 and 2017,2019, the Company recorded $1.0incurred $1.2 million and $3.2 million, respectively, in cost of sales for inventory obsolescencetransformation program costs in connection with its re-engineering program.

The re-engineering charges related to the 2017 revitalization program by segment during the thirdfirst quarter of 2019 and year-to-date period ended September2018 were as follows:

The Company manufactures and distributes a broad portfolio of products, primarily through independent direct sales consultants. Certain operating segments have been aggregated based upon geography, consistency of economic substance, products, production process, class of customers and distribution method.

The Company's reportable segments primarily sell design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware® brand. Europe includes Avroy Shlain® in South Africa and Nutrimetics® in France, which sell beauty and personal care products. Some units in Asia Pacific also sell beauty and personal care products under the NaturCare®, Nutrimetics® and Fuller® brands. North America also includes the Fuller Mexico beauty and personal care products business, and sells products under the Fuller Cosmetics® brand in that unit and in Central America. South America also sells beauty products under the Fuller®, Nutrimetics® and Nuvo® brands.

Worldwide sales of beauty and personal care products totaled $66.6$66.1 million and $86.8$72.8 million in the thirdfirst quarters of 2019 and 2018, and 2017, respectively, and $214.9 million and $253.1 million in the respective year-to-date periods.respectively.

On March 29, 2019, the Company and its wholly owned subsidiaries Tupperware Nederland B.V., Administradora Dart, S. de R.L. de C.V., and Tupperware Brands Asia Pacific Pte. Ltd. (the “Subsidiary Borrowers”), amended and restated its multicurrency Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent (the “Administrative Agent”), swingline lender, joint lead arranger and joint bookrunner, and Credit Agricole Corporate and Investment Bank, HSBC Securities (USA) Inc., Mizuho Bank, Ltd. and Wells Fargo Securities, LLC, as syndication agents, joint lead arrangers and joint bookrunners. The Credit Agreement replaces the Credit Agreement dated September 11, 2013 and as amended (the “Old Credit Agreement”) and, other than an increased aggregate amount that may be borrowed, an improvement in the consolidated leverage ratio covenant and a slightly more favorable commitment fee rate, has terms and conditions similar to that of the Old Credit Agreement. The Credit Agreement makes available to the Company and the Subsidiary Borrowers a committed five-year credit facility in an aggregate amount of $650 million (the “Facility Amount”). The Credit Agreement provides (i) a revolving credit facility, available up to the full amount of the Facility Amount, (ii) a letter of credit facility, available up to $50 million of the Facility Amount, and (iii) a swingline facility, available up to $100 million of the Facility Amount. Each of such facilities is fully available to the Company and the Facility Amount is available to the Subsidiary Borrowers up to an aggregate amount not to exceed $325 million. With the agreement of its lenders, the Company is permitted to increase, on up to three occasions, the Facility Amount by a total of up to $200 million (for a maximum aggregate Facility Amount of $850 million), subject to certain conditions. As of September 29, 2018,March 30, 2019, the Company had total borrowings of $366.2 million outstanding under the Credit Agreement, with $204.5 million of that amount denominated in euros.

Loans made under the Credit Agreement will be composed of (i) “Eurocurrency Borrowings”, bearing interest determined in reference to the London interbank offered rate ("LIBOR") for the applicable currency and interest period, plus a margin, and/or (ii) “ABR Borrowings”, bearing interest at the sum of (A) the greatest of (x) the rate of interest publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate, (y) the NYFRB rate plus 0.5%, and (z) adjusted LIBOR on such day (or if such day is not a business day, the immediately preceding business day) for a deposit in U.S. dollars with a maturity of one month plus 1%, and (B) a margin. The applicable margin in each case will be determined by reference to a pricing schedule and will be based upon the better for the Company of (a) the Consolidated Leverage Ratio (computed as consolidated funded indebtedness of the Company and its subsidiaries to the consolidated EBITDA (as defined in the Credit Agreement) of the Company and its subsidiaries for the four fiscal quarters then most recently ended) for the fiscal quarter referred to in the quarterly or annual financial statements most recently delivered, or (b) the Company’s then existing long-term debt securities rating by Moody’s Investor Service, Inc. or Standard and Poor’s Financial Services, Inc. Under the Credit Agreement, the applicable margin for ABR Borrowings ranges from 0.375% to 0.875%, the applicable margin for Eurocurrency Borrowings ranges from 1.375% to 1.875%, and the applicable margin for the commitment fee ranges from 0.150% to 0.275%. Loans made under the swingline facility will bear interest, if denominated in U.S. Dollars, at the same rate as an ABR Borrowing and, if denominated in another currency, at the same rate as a Eurocurrency Borrowing. As of March 30, 2019, the Credit Agreement dictated a base rate spread of 150 basis points, which gave the Company a weighted average interest rate of 2.6 percent on outstanding LIBOR-based borrowings of 2.0 percent under its multicurrency Amended and Restatedthe Credit Agreement (“Credit Agreement”) that has a final maturity date of June 9, 2020.March 29, 2024.

The financial covenants provide for a maximum Consolidated Leverage Ratio of 3.75 to 1.0 and a minimum interest coverage ratio of 3.0 to 1.0 (defined as consolidated EBITDA divided by consolidated total interest expense). For purposes of the Credit Agreement, consolidated EBITDA represents earnings before interest, income taxes, depreciation and amortization, as adjusted to exclude unusual, non-recurring gains as well as non-cash charges and certain other items. As of March 30, 2019, and currently, the Company had $350.6considerable cushion under its financial covenants as well as the necessary bond credit ratings to prevent default.

At March 30, 2019, the Company had $364.9 million of unused lines of credit, including $268.0$282.2 million under the committed, secured Credit Agreement, and $82.6$82.7 million available under various uncommitted lines around the world.

The Company is exposed to fluctuations in foreign currency exchange rates on the earnings, cash flows and financial position of its international operations. Although this currency risk is partially mitigated by the natural hedge arising from the Company's local manufacturing in many markets, a strengthening U.S. dollar generally has a negative impact on the Company. In response, the Company uses financial instruments to hedge certain of its exposures and to manage the foreign exchange impact to its financial statements. At its inception, a derivative financial instrument is designated as a fair value, cash flow or net equity hedge.

Fair value hedges are entered into with financial instruments such as forward contracts, with the objective of limiting exposure to certain foreign exchange risks primarily associated with accounts payable and non-permanent intercompany transactions. For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current earnings. In assessing hedge effectiveness, as of the beginning of 2019, the Company excludesmade the accounting policy election in accordance with ASU 2017-12 to exclude forward points which are consideredand record their impact in the same income statement line item that is used to bepresent the earnings effect of the hedged item for 2019, Other (income) expense. Prior to 2019, the forward points had been included as a component of interest expense. The forward points on fair value hedges resulted in pretax gainsincome of $4.3$3.7 million and $5.9$6.1 million in the thirdfirst quarters of 2019 and 2018, and 2017, respectively, and $15.1 million and $16.1 million for the respective year-to-date periods.respectively.

The Company also uses derivative financial instruments to hedge foreign currency exposures resulting from certain forecasted purchases and classifies these as cash flow hedges. The majority of cash flow hedge contracts that the Company enters into relate to inventory purchases. At initiation, the Company's cash flow hedge contracts are generally for periods ranging from one month to fifteen months. The effective portion of the gain or loss on the open hedging instrument is recorded in other comprehensive income and is reclassified into earnings when settled through the same line item as the transactionstransaction being hedged are recorded.hedged. As such, the balance at the end of the current reporting period in other comprehensive income, related to cash flow hedges, will generally be reclassified into earnings within the next twelve months. The associated asset or liability on the open hedges is recorded in other current assets or accrued liabilities, as applicable. In assessing hedge effectiveness, the Company excludesmade an accounting policy change as of December 30, 2018 to include forward points which are includedin the assessment of effectiveness for cash flow hedges causing the impact from forward points to be recorded as a componentpart of other comprehensive income compared to interest expense.expense as it previously had been recorded. Based on the interest expense incurred for open cash flow hedges as of December 30, 2018, the Company recorded an adjustment of $1.2 million, net of taxes, to accumulated comprehensive income and retained earnings to reflect this accounting policy change. The impact from forward points recorded in other comprehensive income for activity related to the first quarter of 2019 was $0.8 million. The Company recognized $1.0 million expense in cost of products sold related to the forward point impact from the settlement of cash flow hedges in the first quarter of 2019.

While the forward contracts used for net equity and fair value hedges of non-permanent intercompany balances mitigate its exposure to foreign exchange gains or losses, they result in an impact to operating cash flows as they are settled, whereas the hedged items do not generate offsetting cash flows. The net cash flow impact of these currency hedges for the year-to-date periods ended September 29,first quarters of 2019 and 2018 and September 30, 2017 were inflows of $3.5$0.8 million and $5.8$5.4 million, respectively.

The Company considers the total notional value of its forward contracts as the best measure of the volume of derivative transactions. As of SeptemberMarch 30, 2019 and December 29, 2018, and December 30, 2017, the notional amounts of outstanding forward contracts to purchase currencies were $121.3$87.9 million and $111.1$186.8 million, respectively, and the notional amounts of outstanding forward contracts to sell currencies were $101.1$89.1 million and $112.1$184.6 million, respectively. As of September 29, 2018,March 30, 2019, the notional values of the largest positions outstanding were to purchase $57.1$28.8 million of U.S. dollars, and $29.1$26.9 million of euros and $19.9 million of Swiss francs and to sell $29.5$26.2 million of Mexican pesos.

The following table summarizes the Company's derivative positions, which are the only assets and liabilities recorded at fair value on a recurring basis, and the impact they had on the Company's financial position as of September 29, 2018March 30, 2019 and December 30, 2017.29, 2018. Fair values were determined based on third party quotations (Level 2 fair value measurement):

The following table summarizes the impact of the Company's fair value hedging positions on the results of operations for the thirdfirst quarters of 20182019 and 2017:2018:

The following table summarizes the impact of the Company's hedging activities on comprehensive income for the thirdfirst quarters of 20182019 and 2017:2018:

Due to their short maturities or their insignificance, the carrying amounts of cash and cash equivalents, accounts and notes receivable, accounts payable, accrued liabilities, leased assets and liabilities and short-term borrowings approximated their fair values at September 29, 2018March 30, 2019 and December 30, 2017.29, 2018. The Company estimates that, based on current market conditions, the value of its 4.75%, 2021 senior notes was $611.6$617.2 million at September 29, 2018,March 30, 2019, compared with the carrying value of $599.6 million. The higher fair value resulted from changes, since issuance, in the corporate debt markets and investor preferences. The fair value of debt is classified as a Level 2 liability, and is estimated using quoted market prices as provided in secondary markets that consider the Company's credit risk and market related conditions. See Note 11 to the Consolidated Financial Statements for discussion of the Company's derivative instruments and related fair value measurements.

Components of net periodic benefit cost for the thirdfirst quarters ended March 30, 2019 and year-to-date periods ended September 29,March 31, 2018 and September 30, 2017 were as follows:

During the year-to-date periods ended September 29,first quarters of 2019 and 2018, and September 30, 2017, approximately $0.3 million and $0.9$0.2 million of pretax expense, respectively,gain were reclassified from other comprehensive income to a component of net periodic benefit cost.cost, respectively. As they relate to non-U.S. plans, the Company uses current exchange rates to make these reclassifications. The impact of exchange rate fluctuations is included on the net amortization line of the table above. The Company included $1.5 million and $2.0$0.2 million related to the components of net periodic benefit cost, excluding service cost, in other expense in the year-to-date periods ended September 29, 2018first quarters of both 2019 and September 30, 2017, respectively.2018.

The Company estimates that it may settle one or more audits in the next twelve months that may result in cash payments decreasing the amount of accrual for uncertain tax positions by up to $2.0$3.3 million. For the remaining balance as of September 29, 2018,March 30, 2019, the Company is not able to reliably estimate the timing or ultimate settlement amount. While the Company does not currently expect material changes, it is possible that the amount of unrecognized benefit with respect to the uncertain tax positions will significantly increase or decrease related to audits in various foreign jurisdictions that may conclude during that period or new developments that could also, in turn, impact the Company's assessment relative to the establishment or reversal of valuation allowances against certain existing deferred tax assets. These valuation allowances relate to tax assets in jurisdictions where it is management's best estimate that there is not a greater than 50 percent probability that the benefit of the assets will be realized in the associated tax returns. The likelihood of realizing the benefit of deferred tax assets is assessed on an ongoing basis. This assessment requires estimates as to future operating results, as well as an evaluation of the effectiveness of the Company's tax planning strategies. At this time, the Company is not able to make a reasonable estimate of the range of impact on the balance of unrecognized tax benefits or the impact on the effective tax rate related to these items.

Under the Company's stock incentive programs, in certain jurisdictions, employees are allowed to use shares retained by the Company to satisfy minimum statutorily required withholding taxes. In the year-to-date periods ended September 29,first quarters of 2019 and 2018, 23,088 and September 30, 2017, 22,494 and 9,25620,145 shares, respectively, were retained to fund withholding taxes, with values totaling $1.1$0.7 million and $0.6$1.0 million, respectively, which were included as stock repurchases in the Condensed Consolidated Statements of Cash Flows.

Restricted cash is recorded in either prepaid and other current assets or in the long-term other assets.assets balance sheet line items.

Stock option activity for 2018the first quarter ended March 30, 2019 is summarized in the following table:

The Company also has time-vested, performance-vested and market-vested share awards. The activity for such awards in 2018the first quarter ended March 30, 2019 is summarized in the following table:

Compensation expense related to the Company's stock-based compensation for the third quarterfirst quarters ended March 30, 2019 and year-to-date periods ended September 29,March 31, 2018 and September 30, 2017 werewas as follows:

As of September 29, 2018,March 30, 2019, total unrecognized stock-based compensation expense related to all stock based awards was $18.3$22.9 million, which is expected to be recognized over a weighted average period of 1.72.1 years.

As of September 29, 2018, $17.2March 30, 2019, $16.8 million of long-term receivables from both active and inactive customers were considered past due, the majority of which were reserved through the Company's allowance for uncollectible accounts.

The balance of the allowance for long-term receivables as of September 29, 2018March 30, 2019 was as follows:

The Company's payment obligations under its senior notes due in 2021 are fully and unconditionally guaranteed, on a senior secured basis, by Dart Industries Inc. (the "Guarantor"). The guarantee is, as are the payment obligations under the Company's Credit Agreement. Both guarantees are secured by certain "Tupperware" trademarks and service marks owned by the Guarantor.

Condensed consolidated financial information as of SeptemberMarch 30, 2019 and December 29, 2018, and December 30, 2017 and for the quarterquarters ended March 30, 2019 and year-to-date periods ended September 29,March 31, 2018, and September 30, 2017 for the Company (the "Parent"), the Guarantor and all other subsidiaries (the "Non-Guarantors") is as follows.

Each entity in the consolidating financial information follows the same accounting policies as described in the consolidated financial statements, except for the use by the Parent and Guarantor of the equity method of accounting to reflect ownership interests in subsidiaries that are eliminated upon consolidation. The Guarantor is 100% owned by the Parent, and there are certain entities within the Non-Guarantors' classification that the Parent owns directly. There are no significant restrictions on the ability of either the Parent or the Guarantor to obtain adequate funds from their respective subsidiaries by dividend or loan that should interfere with their ability to meet their operating needs or debt repayment obligations.