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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Selected Quarterly Financial Information [Abstract]  
Schedule of Selected Quarterly Financial Data (Unaudited)
The tables below set forth selected unaudited financial data for each quarter of the two years ended December 31, 2016 (in millions, except per share amounts):
 
Year Ended December 31, 2016
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
 

 
 

 
 

 
 

Net revenues
$
1,097.9

 
$
1,221.3

 
$
1,285.3

 
$
1,385.6

Gross margin(1)
690.9

 
756.4

 
799.5

 
857.7

Income before income taxes
126.5

 
192.2

 
236.6

 
272.1

Net income
$
91.4

 
$
140.0

 
$
172.4

 
$
188.9

 
 
 
 
 
 
 
 
Net income per share:(2)
 
 
 
 
 
 
 
Basic
$
0.24

 
$
0.37

 
$
0.45

 
$
0.50

Diluted
$
0.23

 
$
0.36

 
$
0.45

 
$
0.49


Year Ended December 31, 2015
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
 

 
 

 
 

 
 

Net revenues
$
1,067.4

 
$
1,222.2

 
$
1,248.6

 
$
1,319.6

Gross margin
657.3

 
781.5

 
797.4

 
842.4

Income before income taxes
116.0

 
226.0

 
249.6

 
260.6

Net income
$
80.2

 
$
158.0

 
$
197.7

 
$
197.8

 
 
 
 
 
 
 
 
Net income per share:(2)
 
 
 
 
 
 
 
Basic
$
0.20

 
$
0.41

 
$
0.52

 
$
0.52

Diluted
$
0.19

 
$
0.40

 
$
0.51

 
$
0.51


_______________
(1) 
Gross margin for the fourth quarter of 2016 includes a $10.8 million charge for expected remediation costs for certain products containing a defect in a clock-signal component manufactured by a third-party supplier.
(2) 
Net income per share is computed independently. Therefore, the sum of the quarterly net income per share may not equal the total computed for the year or any cumulative interim period.