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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Gross Sales $ 1,720,842 $ 1,637,514 $ 3,258,711 $ 3,109,208
Cash discounts (7,962) (6,993) (15,260) (13,207)
Net Sales 1,712,880 1,630,521 3,243,451 3,096,001
Cost of merchandise sold (1,389,987) (1,324,922) (2,620,729) (2,510,755)
Gross Margin 322,893 305,599 622,722 585,246
Selling, general and administrative expenses (257,338) (250,565) (515,383) (495,297)
Depreciation and amortization (12,144) (11,564) (24,020) (22,875)
Other income, net 3,521 517 4,129 2,809
Income from Operations 56,932 43,987 87,448 69,883
Interest expense, net (1,068) (763) (1,865) (1,420)
Income before Provision for Income Taxes 55,864 43,224 85,583 68,463
Provision for income taxes (22,463) (17,530) (34,459) (27,672)
Net Income 33,401 25,694 51,124 40,791
Less: Net income attributable to noncontrolling interests (67) (59) (109) (111)
Net Income attributable to Graybar Electric Company, Inc. $ 33,334 $ 25,635 $ 51,015 $ 40,680
Net Income per share of Common Stock (in dollars per share) $ 1.89 $ 1.47 [1] $ 2.89 [1] $ 2.34 [1]
Cash Dividends per share of Common Stock (in dollars per share) $ 0.30 $ 0.30 $ 0.60 $ 0.60
Average Common Shares Outstanding (Shares) 17,642 17,397 17,631 17,383
[1] (A)Adjusted for the declaration of a 5% stock dividend in 2016, shares related to which were issued in February 2017. Prior to the adjustment, the average common shares outstanding were 16,569 and 16,555 for the three and six months ended June 30, 2016, respectively.