Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of New Accounting Pronouncements Impact

The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet for the adoption of ASU 2014-09, "Revenue - Revenue from Contracts with Customers" and ASU 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" were as follows (in thousands):



	Balance at December 31, 2017		Adjustments Due to ASU 2014-09			Adjustments Due to ASU 2016-16			Balance at January 1, 2018

Assets
Accounts receivable, net	$	346,687	$	981		$	—		$	347,668
Inventories	372,183		(524		)	—			371,659
Other assets	59,869		—			(1,005		)	58,864

Liabilities
Deferred revenue	25,614		(788		)	—			24,826
Deferred income taxes	12,496		290			1,422			14,208
Pension and other long-term liabilities	59,872		—			(8,030		)	51,842

Shareholders' Equity
Retained earnings	1,856,756		955			5,603			1,863,314

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet was as follows (in thousands):



	For the Period Ended March 31, 2018
	As Reported		Balances Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Income Statement
Revenue	$	439,618	$	438,971	$	647
Cost of goods sold	221,704		221,610		94
Income tax provision	15,420		15,301		119
Net earnings	39,195		38,761		434



	March 31, 2018
	As Reported		Balances Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Balance Sheet
Assets
Accounts receivable, net	$	329,792	$	328,164	$	1,628
Inventories	385,906		386,524		(618		)

Liabilities
Deferred revenue	25,224		26,012		(788		)
Deferred income taxes	15,732		15,323		409

Equity
Retained earnings	1,880,277		1,878,888		1,389