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Unaudited Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2023

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


	First			Second			Third			Fourth
2023	Quarter			Quarter			Quarter			Quarter			Total
Net sales	$	684,674		$	740,576		$	711,692		$	819,474		$	2,956,416
Costs and operating expenses:
Cost of sales		284,380			301,076			291,407			318,360			1,195,223
Selling and administrative expenses		181,956			186,953			186,748			180,357			736,014
Research and development expenses		42,691			45,873			41,995			44,386			174,945
Purchased intangibles amortization		1,479			6,815			12,116			12,148			32,558

Total costs and operating expenses		510,506			540,717			532,266			555,251			2,138,740

Operating income		174,168			199,859			179,426			264,223			817,676
Other income (expense), net		1,388			(352	)		328			(557	)		807
Interest expense		(14,444	)		(23,272	)		(30,442	)		(30,703	)		(98,861	)
Interest income		4,061			4,040			3,883			4,637			16,621

Income before income taxes		165,173			180,275			153,195			237,600			736,243
Provision for income taxes		24,250			29,721			18,643			21,395			94,009

Net income	$	140,923		$	150,554		$	134,552		$	216,205		$	642,234

Net income per basic common share		2.39			2.56			2.28			3.66			10.87
Weighted-average number of basic common shares		59,023			58,857			59,093			59,142			59,076
Net income per diluted common share		2.38			2.55			2.27			3.65			10.84
Weighted-average number of diluted common shares and equivalents		59,317			59,010			59,225			59,311			59,270


	First			Second			Third			Fourth
2022	Quarter			Quarter			Quarter			Quarter			Total
Net sales	$	690,572		$	714,319		$	708,555		$	858,510		$	2,971,956
Costs and operating expenses:
Cost of sales		285,685			307,206			307,101			348,190			1,248,182
Selling and administrative expenses		157,475			161,877			164,417			174,257			658,026
Research and development expenses		40,472			44,006			43,435			48,277			176,190
Purchased intangibles amortization		1,673			1,598			1,592			1,503			6,366
Acquired in-process research and development		9,797			—			—			—			9,797

Total costs and operating expenses		495,102			514,687			516,545			572,227			2,098,561

Operating income		195,470			199,632			192,010			286,283			873,395
Other income (expense), net		170			1,535			895			(372	)		2,228
Interest expense		(11,059	)		(11,419	)		(12,420	)		(13,899	)		(48,797	)
Interest income		2,114			2,526			2,896			3,484			11,020

Income before income taxes		186,695			192,274			183,381			275,496			837,846
Provision for income taxes		26,864			27,410			27,383			48,434			130,091

Net income	$	159,831		$	164,864		$	155,998		$	227,062		$	707,755

Net income per basic common share		2.64			2.74			2.61			3.83			11.80
Weighted-average number of basic common shares		60,580			60,206			59,801			59,329			59,985
Net income per diluted common share		2.62			2.72			2.60			3.81			11.73
Weighted-average number of diluted common shares and equivalents		60,952			60,510			60,081			59,644			60,331