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Background and Basis of Presentation (Tables)
6 Months Ended
Jun. 30, 2016
Accounting Policies [Abstract]  
Summary of Activity in Product Warranty Accrual, Included in Other Accrued Liabilities

The following table summarizes the activity in the product warranty accrual, included in other accrued liabilities:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Product warranty accrual, beginning of period

 

$

17,689

 

 

$

15,366

 

 

$

17,964

 

 

$

17,054

 

Provision for warranty claims

 

 

2,468

 

 

 

2,372

 

 

 

4,519

 

 

 

3,914

 

Warranty claims paid

 

 

(1,801

)

 

 

(2,544

)

 

 

(4,127

)

 

 

(5,774

)

Product warranty accrual, end of period

 

$

18,356

 

 

$

15,194

 

 

$

18,356

 

 

$

15,194

 

 

Summary of Earnings, Weighted Average Common Shares and Potential Common Shares Outstanding

The following table presents the basis for the earnings per share computations:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income for basic and diluted earnings per share

 

$

61,961

 

 

$

45,592

 

 

$

74,541

 

 

$

85,068

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

 

192,241

 

 

 

189,682

 

 

 

191,996

 

 

 

189,084

 

Dilutive effect of equity-based awards

 

 

3,832

 

 

 

4,322

 

 

 

3,819

 

 

 

4,486

 

Weighted average common shares outstanding - diluted

 

 

196,073

 

 

 

194,004

 

 

 

195,815

 

 

 

193,570

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.32

 

 

$

0.24

 

 

$

0.39

 

 

$

0.45

 

Diluted

 

$

0.32

 

 

$

0.24

 

 

$

0.38

 

 

$

0.44