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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present certain consolidated quarterly financial information for each of the last twelve quarters for the years ended December 31, 2023, 2022 and 2021:
| Quarter Ended
| March 31, |  | June 30, |  | September 30, |  | December 31,
| (In millions, except for share data)
2023 |  |  |  |  |  |  |
Net Revenues | $ | 3,037 |  |  | $ | 3,415 |  |  | $ | 3,760 |  |  | $ | 4,261 |
Gross profit | 1,536 |  |  | 1,720 |  |  | 1,995 |  |  | 1,955 |
Net Income | 201 |  |  | 262 |  |  | 359 |  |  | 165 |
Net Income per share-basic | 4.01 |  |  | 5.22 |  |  | 7.18 |  |  | 3.26 |
Net Income per share-diluted | 3.97 |  |  | 5.16 |  |  | 7.16 |  |  | 3.25 |
Weighted average shares |  |  |  |  |  |  |
Basic | 50,245,073 |  | 50,162,687 |  | 50,008,320 |  | 50,631,669
Diluted | 51,235,341 |  | 51,152,955 |  | 50,209,439 |  | 50,697,515
2022 |  |  |  |  |  |  |
Net Revenues | $ | 2,248 |  |  | $ | 2,597 |  |  | $ | 2,690 |  |  | $ | 3,002 |
Gross profit | 1,073 |  |  | 1,284 |  |  | 1,348 |  |  | 1,458 |
Net Income | 65 |  |  | 123 |  |  | 129 |  |  | 165 |
Net Income per share-basic | 1.30 |  |  | 2.43 |  |  | 2.57 |  |  | 3.28 |
Net Income per share-diluted | 1.30 |  |  | 2.43 |  |  | 2.56 |  |  | 3.25 |
Weighted average shares |  |  |  |  |  |  |
Basic | 50,408,754 |  | 50,364,529 |  | 50,325,075 |  | 50,284,640
Diluted | 50,408,754 |  | 50,364,529 |  | 51,315,343 |  | 51,274,909
2021 |  |  |  |  |  |  |
Net Revenues | $ | 1,378 |  |  | $ | 1,703 |  |  | $ | 1,858 |  |  | $ | 2,130 |
Gross profit | 591 |  |  | 754 |  |  | 807 |  |  | 853 |
Net (loss) Income | (34) |  |  | 68 |  |  | 95 |  |  | (46) |
Net (loss) Income per share-basic | (0.68) |  |  | 1.37 |  |  | 1.92 |  |  | (0.92) |
Net (loss) Income per share-diluted | (0.68) |  |  | 1.37 |  |  | 1.92 |  |  | (0.92) |
Weighted average shares |  |  |  |  |  |  |
Basic | 49,867,625 |  | 49,822,272 |  | 49,597,157 |  | 49,926,533
Diluted | 49,867,625 |  | 49,822,272 |  | 49,597,157 |  | 49,926,533

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//270/tableOfContent + Details
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