Unaudited Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2021

The Company’s unaudited quarterly results are summarized below (in thousands, except per share data):


	First			Second			Third			Fourth
2021	Quarter			Quarter			Quarter			Quarter			Total
Net sales	$	608,545		$	681,647		$	659,233		$	836,449		$	2,785,874
Costs and operating expenses:
Cost of sales		254,147			280,254			271,128			351,004			1,156,533
Selling and administrative expenses		143,196			158,213			152,545			173,014			626,968
Research and development expenses		38,092			44,949			41,986			43,331			168,358
Purchased intangibles amortization		1,840			1,809			1,759			1,735			7,143
Litigation provisions		—			—			—			5,165			5,165

Total costs and operating expenses		437,275			485,225			467,418			574,249			1,964,167

Operating income		171,270			196,422			191,815			262,200			821,707
Other income (expense)		9,359			9,321			(607	)		(870	)		17,203
Interest expense		(10,946	)		(12,027	)		(11,081	)		(10,884	)		(44,938	)
Interest income		4,101			3,698			2,548			1,874			12,221

Income before income taxes		173,784			197,414			182,675			252,320			806,193
Provision for income taxes		25,657			30,122			21,490			36,081			113,350

Net income	$	148,127		$	167,292		$	161,185		$	216,239		$	692,843

Net income per basic common share		2.38			2.71			2.63			3.55			11.25
Weighted-average number of basic common shares		62,260			61,685			61,359			60,984			61,575
Net income per diluted common share		2.37			2.69			2.60			3.52			11.17
Weighted-average number of diluted common shares and equivalents		62,632			62,157			61,888			61,423			62,028


	First			Second			Third			Fourth
2020	Quarter			Quarter			Quarter			Quarter			Total
Net sales	$	464,939		$	519,984		$	593,784		$	786,658		$	2,365,365
Costs and operating expenses:
Cost of sales		210,644			213,134			262,342			320,569			1,006,689
Selling and administrative expenses		147,735			117,449			135,430			153,084			553,698
Research and development expenses		34,989			31,155			34,971			39,662			140,777
Purchased intangibles amortization		2,625			2,618			2,657			2,687			10,587
Asset Impairments		—			—			—			6,945			6,945
Litigation provisions		666			514			—			—			1,180

Total costs and operating expenses		396,659			364,870			435,400			522,947			1,719,876

Operating income		68,280			155,114			158,384			263,711			645,489
Other (expense) income		(374	)		(736	)		(1,039	)		374			(1,775	)
Interest expense		(14,079	)		(13,018	)		(10,915	)		(11,058	)		(49,070	)
Interest income		4,036			4,003			4,007			4,224			16,270

Income before income taxes		57,863			145,363			150,437			257,251			610,914
Provision for income taxes		4,301			22,434			23,668			38,940			89,343

Net income	$	53,562		$	122,929		$	126,769		$	218,311		$	521,571

Net income per basic common share		0.86			1.98			2.04			3.51			8.40
Weighted-average number of basic common shares		62,232			61,944			62,002			62,170			62,094
Net income per diluted common share		0.86			1.98			2.03			3.49			8.36
Weighted-average number of diluted common shares and equivalents		62,626			62,184			62,303			62,501			62,414