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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
Gross Sales $ 1,576,376 $ 1,492,594 $ 4,418,354 $ 4,254,275
Cash discounts (6,619) (6,135) (18,422) (16,775)
Net Sales 1,569,757 1,486,459 4,399,932 4,237,500
Cost of merchandise sold (1,275,222) (1,208,796) (3,573,998) (3,460,040)
Gross Margin 294,535 277,663 825,934 777,460
Selling, general and administrative expenses (233,773) (220,791) (678,647) (652,950)
Depreciation and amortization (9,786) (9,251) (29,140) (27,268)
Other income, net 739 451 2,897 1,653
Income from Operations 51,715 48,072 121,044 98,895
Interest expense, net (364) (407) (1,122) (1,171)
Income before Provision for Income Taxes 51,351 47,665 119,922 97,724
Provision for income taxes (20,815) (18,946) (48,929) (39,100)
Net Income 30,536 28,719 70,993 58,624
Less: Net income attributable to noncontrolling interests (72) (86) (164) (154)
Net Income attributable to Graybar Electric Company, Inc. $ 30,464 $ 28,633 $ 70,829 $ 58,470
Net Income per share of Common Stock (in dollars per share) $ 1.93 [1] $ 1.80 [1] $ 4.47 [1] $ 3.67 [1]
Cash Dividends per share of Common Stock (in dollars per share) $ 0.30 [2] $ 0.30 [2] $ 0.90 [2] $ 0.90 [2]
Average Common Shares Outstanding (Shares) 15,799 [1] 15,895 [1] 15,861 [1] 15,954 [1]
[1] Adjusted for the declaration of a two and a half percent (2.5%) stock dividend in 2013, shares related to which were issued in February 2014. Prior to the adjustment, the average common shares outstanding were 15,507 and 15,565 for the three and nine months ended September 30, 2013, respectively.
[2] Cash dividends declared were $4,754 and $4,665 for the three months ended September 30, 2014 and 2013, respectively. Cash dividends declared were $14,302 and $14,041 for the nine months ended September 30, 2014 and 2013, respectively.