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Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)

16.    QUARTERLY FINANCIAL DATA (UNAUDITED)

 

 

 

First

Quarter 2018

 

 

Second

Quarter 2018

 

 

Third

Quarter 2018

 

 

Fourth

Quarter 2018

 

Net sales

 

$

1,120,517

 

 

$

1,239,856

 

 

$

1,150,405

 

 

$

1,057,729

 

Gross profit

 

 

411,400

 

 

 

471,310

 

 

 

423,874

 

 

 

381,700

 

Operating income (1)(2)(3)

 

 

103,726

 

 

 

164,688

 

 

 

132,225

 

 

 

49,329

 

Net income (loss) (4)

 

 

33,735

 

 

 

65,922

 

 

 

63,843

 

 

 

(23,283

)

Basic earnings (loss) per share

 

$

0.18

 

 

$

0.34

 

 

$

0.33

 

 

$

(0.12

)

Diluted earnings (loss) per share

 

$

0.17

 

 

$

0.34

 

 

$

0.33

 

 

$

(0.12

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First

Quarter 2017

 

 

Second

Quarter 2017

 

 

Third

Quarter 2017

 

 

Fourth

Quarter 2017

 

Net sales

 

$

1,137,285

 

 

$

1,174,090

 

 

$

1,128,775

 

 

$

1,120,432

 

Gross profit

 

 

453,807

 

 

 

471,765

 

 

 

428,605

 

 

 

413,627

 

Operating income (1)(2)

 

 

119,972

 

 

 

136,389

 

 

 

125,428

 

 

 

90,250

 

Net income (4)

 

 

33,562

 

 

 

55,464

 

 

 

51,157

 

 

 

53,581

 

Basic earnings per share

 

$

0.17

 

 

$

0.29

 

 

$

0.27

 

 

$

0.28

 

Diluted earnings per share

 

$

0.17

 

 

$

0.28

 

 

$

0.26

 

 

$

0.27

 

 

(1)

Operating income for the first, second, third and fourth quarters in 2018 included charges related to restructuring costs of $5,450, $7,218, $7,070 and $24,287, respectively. Operating income for the first, second, third and fourth quarters in 2017 included charges related to restructuring costs of $5,388, $13,773, $5,360 and $19,261, respectively.

(2)

Operating income for the first, second, third and fourth quarters in 2018 included charges related to integration and transaction costs of $1,614, $959, $2,647 and $14,314, respectively. Operating income for the first, second, third and fourth quarters in 2017 included charges related to integration and transaction costs of $13,485, $12,684, $12,093 and $9,784, respectively.

(3)

Operating income for the fourth quarter in 2018 included an asset impairment charge of $15,000.

(4)

Net income (loss) for the fourth quarter in 2018 included employee defined benefit plan termination charges of $24,818 and foreign currency losses of $13,952 resulting from an entity liquidation. Net income for the fourth quarter in 2017 included a benefit of $22,358 for the estimated impact of U.S. tax reform and a benefit of $16,740 related to tax law changes in certain foreign jurisdictions.