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SELECTED QUARTERLY FINANCIAL DATA (Tables)
12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The following table sets forth selected quarterly financial data for the years ended December 31, 2020 and 2019:
(In thousands, except per share data)First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
2020    
Net sales$1,968,647 $2,086,706 $4,141,801 $4,128,841 
Cost of goods sold (excluding depreciation and amortization)(1)
1,592,249 1,692,931 3,356,259 3,356,890 
Gross profit376,398 393,775 785,542 771,951 
Income from operations60,913 15,270 178,095 92,763 
Income (loss) before income taxes44,441 (45,313)104,332 19,384 
Net income (loss)(1)
34,175 (34,459)80,038 20,288 
Net income (loss) attributable to common stockholders34,407 (35,782)66,167 5,632 
Basic earnings (loss) per share attributable to common stockholders(2)
$0.82 $(0.84)$1.32 $0.11 
Diluted earnings (loss) per share attributable to common stockholders(3)
$0.82 $(0.84)$1.31 $0.11 
2019    
Net sales$1,961,267 $2,150,088 $2,148,110 $2,099,452 
Cost of goods sold (excluding depreciation and amortization)1,578,771 1,741,114 1,747,913 1,709,658 
Gross profit382,496 408,974 400,197 389,794 
Income from operations70,726 97,950 93,733 83,808 
Income before income taxes53,606 80,643 80,225 67,587 
Net income41,950 63,215 64,339 52,694 
Net income attributable to common stockholders42,369 63,464 64,495 53,098 
Basic earnings per share attributable to common stockholders(2)
$0.94 $1.46 $1.53 $1.27 
Diluted earnings per share attributable to common stockholders(3)
$0.93 $1.45 $1.52 $1.26 
(1)    An out-of-period adjustment was recorded during the quarter ended December 31, 2020, resulting in an increase of $23.3 million to cost of goods sold and a decrease of $16.7 million to net income, as described in Note 2, "Accounting Policies".
(2)    Earnings per share (EPS) in each quarter is computed using the weighted-average number of shares outstanding during that quarter while EPS for the full year is computed by using the weighted-average number of shares outstanding during the year. Thus, the sum of the four quarters’ EPS may not equal the full-year EPS.
(3)    Diluted EPS in each quarter is computed using the weighted-average number of shares outstanding and common share equivalents during that quarter while diluted EPS for the full year is computed by using the weighted-average number of shares outstanding and common share equivalents during the year. Thus, the sum of the four quarters’ diluted EPS may not equal the full-year diluted EPS.