Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Table Text Block]

A summary of the company's consolidated quarterly results of operations is as follows:

	First Quarter		Second Quarter (b)			Third Quarter (c)		Fourth Quarter (d)
2019
Sales	$	7,155,991	$	7,344,548		$	7,078,118	$	7,338,190
Gross profit	861,688		814,909			798,841		822,943
Operating income (loss)	245,560		(549,190		)	173,218		238,108
Net income (loss) attributable to shareholders	140,735		(548,966		)	92,131		112,013
Net income (loss) per share (a):
Basic	$	1.65	$	(6.48	)	$	1.11	$	1.37
Diluted	$	1.63	$	(6.48	)	$	1.10	$	1.36
2018
Sales	$	6,875,613	$	7,392,528		$	7,490,445	$	7,918,182
Gross profit	868,944		932,820			923,778		975,370
Operating income	235,995		286,827			290,310		334,380
Net income attributable to shareholders	139,094		169,915			176,533		230,653
Net income per share (a):
Basic	$	1.58	$	1.94		$	2.02	$	2.66
Diluted	$	1.56	$	1.92		$	1.99	$	2.63

Amounts discussed below are before tax except for amounts related to the effects of the Tax Act.

(a) Quarterly net income per share is calculated using the weighted-average shares outstanding during each quarterly period, while net income per share for the full year is calculated using the weighted-average shares outstanding during the year. Therefore, the sum of the net income per share for each of the four quarters may not equal the net income per share for the full year. As the company reported a net loss attributable to shareholders for the second quarter of 2019, basic and diluted net loss per share attributable to shareholders are the same.

(b) Net income attributable to shareholders includes impairments of $697,993, a charge of $20,114 related to a subset of inventory held by its digital business, and a charge of $15,851 related to the receivables and inventory of its financing solutions business during the second quarter of 2019.

(c) Net income attributable to shareholders includes a loss on disposition of businesses, net, of $14,573 and personnel charges of $30,906 related to the operating expense reduction program, previously disclosed in July 2019, during the third quarter of 2019.

(d)

Net income attributable to shareholders includes a U.S. Tax Act benefit of $28,323 during the fourth quarter of 2018. Net income attributable to shareholders includes a pension settlement of $20,111 and loss on disposition of businesses, net of $5,813, and tax expense of $18,193 during the fourth quarter of 2019 related to the repatriation of foreign earnings and the wind down of the personal computer and mobility asset disposition business.