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Selected Quarterly data - (Unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 26, 2014
Jun. 27, 2014
Mar. 28, 2014
Dec. 31, 2013
Sep. 27, 2013
Jun. 28, 2013
Mar. 29, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Selected Quarterly Financial Information [Abstract]                      
Net sales $ 1,206,356us-gaap_SalesRevenueNet $ 1,164,453us-gaap_SalesRevenueNet $ 1,199,336us-gaap_SalesRevenueNet $ 1,054,331us-gaap_SalesRevenueNet $ 1,171,378us-gaap_SalesRevenueNet $ 1,014,570us-gaap_SalesRevenueNet $ 1,074,118us-gaap_SalesRevenueNet $ 947,143us-gaap_SalesRevenueNet $ 4,624,476us-gaap_SalesRevenueNet [1] $ 4,207,209us-gaap_SalesRevenueNet [1] $ 3,913,856us-gaap_SalesRevenueNet [1]
Gross Profit 391,847us-gaap_GrossProfit 373,195us-gaap_GrossProfit 388,171us-gaap_GrossProfit 325,632us-gaap_GrossProfit 357,381us-gaap_GrossProfit 320,294us-gaap_GrossProfit 337,822us-gaap_GrossProfit 290,725us-gaap_GrossProfit 1,478,845us-gaap_GrossProfit 1,306,222us-gaap_GrossProfit 1,152,125us-gaap_GrossProfit
Net income (loss) 85,789us-gaap_ProfitLoss [2] 81,303us-gaap_ProfitLoss 198,344us-gaap_ProfitLoss [3] 54,837us-gaap_ProfitLoss [4] 44,193us-gaap_ProfitLoss [5] 65,475us-gaap_ProfitLoss 67,200us-gaap_ProfitLoss 32,275us-gaap_ProfitLoss 420,273us-gaap_ProfitLoss 209,143us-gaap_ProfitLoss (42,264)us-gaap_ProfitLoss
Net Income (Loss) Available to Common Stockholders $ 80,134us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [2] $ 73,389us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 191,785us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [3] $ 24,877us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [4] $ 31,984us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [5] $ 50,389us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 53,306us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 22,553us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 370,185us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 158,232us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (83,353)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Net income (loss) per share- basic $ 0.65us-gaap_EarningsPerShareBasic [2] $ 0.59us-gaap_EarningsPerShareBasic $ 1.55us-gaap_EarningsPerShareBasic [3] $ 0.22us-gaap_EarningsPerShareBasic [4] $ 0.31us-gaap_EarningsPerShareBasic [5] $ 0.49us-gaap_EarningsPerShareBasic $ 0.53us-gaap_EarningsPerShareBasic $ 0.21us-gaap_EarningsPerShareBasic $ 3.06us-gaap_EarningsPerShareBasic $ 1.56us-gaap_EarningsPerShareBasic $ (0.92)us-gaap_EarningsPerShareBasic
Net income (loss) per share- diluted $ 0.64us-gaap_EarningsPerShareDiluted [2] $ 0.59us-gaap_EarningsPerShareDiluted $ 1.53us-gaap_EarningsPerShareDiluted [3] $ 0.22us-gaap_EarningsPerShareDiluted [4] $ 0.31us-gaap_EarningsPerShareDiluted [5] $ 0.48us-gaap_EarningsPerShareDiluted $ 0.52us-gaap_EarningsPerShareDiluted $ 0.21us-gaap_EarningsPerShareDiluted $ 3.02us-gaap_EarningsPerShareDiluted $ 1.54us-gaap_EarningsPerShareDiluted $ (0.92)us-gaap_EarningsPerShareDiluted
[1] The Company attributes revenues from external customers to individual countries based upon the country in which the sale was originated.
[2] Net income and Net income per share for the three months ended December 31, 2014 were significantly impacted by the catch-up portion of the enactment of the U.S. tax extenders package related to the taxation of certain foreign income during the nine months ended September 26, 2014 in the U.S.
[3] Net income and Net income per share for the three months ended June 27, 2014 includes the benefit of deferred tax assets as a result of the effect of the Victor Acquisition on expected future income. This reassessment resulted in a decrease in the Company’s valuation allowance against U.S. deferred tax assets. The reduction in the valuation allowance created a non-cash income tax benefit for the three months ended June 27, 2014 of $113.1 million.
[4] On February 12, 2014 the Company entered into a Conversion Agreement with BDT CF Acquisition Vehicle, LLC (the “BDT Investor”). As consideration for the BDT Investor’s agreement to exercise its optional conversion right, the Company paid approximately $23.4 million to the BDT Investor, of which $19.6 million represents the Preferred stock conversion inducement payment. See Note 11, “Equity” for additional information regarding the Preferred stock conversion inducement payment.
[5] Net income and Net income per share for the three months ended December 31, 2013 includes a $13.8 million gain to remeasure the Company’s equity investment in Sicelub to fair value upon increasing the Company’s ownership to 100%, which was included in Selling, general and administrative expense. See Note 4, “Acquisitions” for additional information regarding the Company’s acquisition of Sicelub. Additionally, during the three months ended December 31, 2013, the Company wrote-off $26.8 million of deferred financing fees and original issue discount associated with the Third Amendment to the Deutsche Bank Credit Agreement. See Note 10, “Debt” for additional information regarding the Third Amendment to the Deutsche Bank Credit Agreement.