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Quarterly Results of Operations (unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (unaudited)
QUARTERLY RESULTS OF OPERATIONS (unaudited)
The following is a summary of our unaudited quarterly results of operations for 2015 and 2014:
 
Quarter
 
First
 
Second
 
Third
 
Fourth
 
(In thousands, except share and per share data)
2015
 
 
 
 
 
 
 
Net sales
$
2,050,762

 
$
2,014,706

 
$
2,033,693

 
$
2,022,500

Gross profit
478,309

 
495,641

 
491,988

 
508,471

Income (loss) from continuing operations
(73,651
)
 
26,519

 
20,233

 
18,818

Net Income (loss) (1) (4)
(73,740
)
 
26,519

 
20,233

 
18,480

Earnings (loss) per common share from continuing operations (2):
 
 
 
 
 
 
 
Basic
(0.78
)
 
0.28

 
0.22

 
0.20

Diluted
(0.78
)
 
0.28

 
0.22

 
0.20

 
Quarter
 
First
 
Second
 
Third
 
Fourth
 
(In thousands, except share and per share data)
2014
 
 
 
 
 
 
 
Net sales
$
2,341,040

 
$
2,393,869

 
$
2,373,280

 
$
2,395,007

Gross profit
416,175

 
399,088

 
416,800

 
441,400

Income (loss) from continuing operations
(9,792
)
 
(963
)
 
(15,136
)
 
5,704

Net income (loss) (3)
(8,956
)
 
(645
)
 
(15,972
)
 
5,277

Earnings (loss) per common share from continuing operations (2):
 
 
 
 
 
 
 
Basic
(0.10
)
 
(0.01
)
 
(0.16
)
 
0.06

Diluted
(0.10
)
 
(0.01
)
 
(0.16
)
 
0.06

(1)
The results for the first, second, third and fourth quarters of 2015 include facility closing and reorganization costs, net of tax, of $0.8 million, $3.3 million, $1.7 million and $6.4 million, respectively. See Note 16.
(2)
Earnings (loss) per common share calculations for each of the quarters were based on the basic and diluted weighted average number of shares outstanding for each quarter. The sum of the quarters may not necessarily be equal to the full year earnings (loss) per common share amount.
(3)
The results for the first, second and third quarters of 2014 include facility closing and reorganization costs, net of tax, of $0.6 million, $0.5 million and $1.8 million, respectively. See Note 16.
(4)
Results for the first quarter of 2015 include a charge of $68.7 million, net of tax, related to impairments of intangible assets (Note 6), and a loss of $23.5 million, net of tax, related to the early retirement of a portion of our senior notes due 2016 (Note 9).