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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]  
Quarterly Financial Information Disclosure QUARTERLY FINANCIAL DATA (UNAUDITED)
Quarterly financial data for the years ended December 31, 2019 and 2018 are as follows:
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
2019
 

 
 

 
 

 
 

Net sales
$
679,452

 
$
731,366

 
$
753,866

 
$
843,968

Gross profit
$
388,319

 
$
419,538

 
$
435,056

 
$
498,298

Net earnings(a)
$
111,805

 
$
127,160

 
$
129,395

 
$
192,749

Basic earnings per common share:
 
 
 
 
 
 
 
Net earnings
$
4.50

 
$
5.15

 
$
5.28

 
$
7.95

Weighted average number of common shares
24,851,340

 
24,698,032

 
24,487,268

 
24,241,383

Diluted earnings per common share:
 
 
 
 
 
 
 
Net earnings
$
4.42

 
$
5.06

 
$
5.20

 
$
7.84

Weighted average number of common and common equivalent shares
25,310,525

 
25,118,352

 
24,880,179

 
24,599,702

Market price per share:
 
 
 
 
 
 
 
High
$
729.72

 
$
840.00

 
$
872.45

 
$
793.31

Low
$
513.56

 
$
701.80

 
$
642.84

 
$
658.61

 
 
 
 
 
 
 
 
2018
 

 
 

 
 

 
 

Net sales
$
660,821

 
$
721,996

 
$
734,846

 
$
817,923

Gross profit
$
374,933

 
$
412,625

 
$
419,254

 
$
477,566

Net earnings(a)
$
93,304

 
$
111,468

 
$
126,653

 
$
181,186

Basic earnings per common share:
 

 

 
 

 
 

Net earnings
$
3.66

 
$
4.41

 
$
5.04

 
$
7.25

Weighted average number of common shares
25,468,323

 
25,299,414

 
25,126,061

 
24,975,303

Diluted earnings per common share:
 

 

 
 

 
 

Net earnings
$
3.58

 
$
4.31

 
$
4.93

 
$
7.11

Weighted average number of common and common equivalent shares
26,095,647

 
25,867,383

 
25,683,365

 
25,490,270

Market price per share:
 

 

 
 

 
 

High
$
692.30

 
$
595.14

 
$
617.94

 
$
645.33

Low
$
566.87

 
$
546.43

 
$
559.44

 
$
524.03

(a) Net earnings includes a non-cash deferred net benefit of $15.8 million for the three months ended December 31, 2019 related to the enactment of Swiss tax reform and a charge of $3.6 million for the three months ended December 31, 2018 for the enactment of the U.S. Tax Cuts and Job Act. Net earnings for the three months ended December 31, 2018 also includes a one-time gain of $18.7 million relating to the Biotix acquisition contingent consideration and a one-time legal charge of $3 million.