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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following table presents our quarterly results of operations for the years ended December 31, 2016 and 2015:
 
First
 
Second
 
Third
 
Fourth
 
(Dollars in thousands, except per share data)
2016 (1) 
 
 
 
 
 
 
 
Net sales
$
792,738

 
$
874,642

 
$
1,139,643

 
$
805,891

Gross profit
113,877

 
127,707

 
181,939

 
110,013

Net income
26,572

 
33,315

 
69,770

 
23,694

 
 
 
 
 
 
 
 
Basic net income per share (3)
$
0.44

 
$
0.55

 
$
1.15

 
$
0.41

Diluted net income per share (3)
0.44

 
0.55

 
1.15

 
0.41

 
 
 
 
 
 
 
 
Dividends per share
$
0.17

 
$
0.17

 
$
0.17

 
$
0.17

 
 
 
 
 
 
 
 
2015 (2)  
 
 
 
 
 
 
 
Net sales
$
816,601

 
$
914,229

 
$
1,203,525

 
$
829,616

Gross profit
122,237

 
133,657

 
185,106

 
113,126

Net income
33,304

 
42,244

 
70,316

 
26,549

 
 
 
 
 
 
 
 
Basic net income per share (3)
$
0.53

 
$
0.70

 
$
1.16

 
$
0.44

Diluted net income per share (3)
0.53

 
0.70

 
1.16

 
0.44

 
 
 
 
 
 
 
 
Dividends per share
$
0.16

 
$
0.16

 
$
0.16

 
$
0.16


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(1) 
The first, second, third and fourth quarters of 2016 include rationalization charges of $1.1 million, $5.0 million, $7.8 million and $5.1 million, respectively. The fourth quarter of 2016 includes costs attributed to announced acquisitions of $1.4 million.
(2) 
The first, second, third and fourth quarters of 2015 include rationalization charges of $0.7 million, $1.0 million, $9.1 million and $3.6 million, respectively.
(3)
Net income per share data is computed independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the year.