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Quarterly Results (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Results (Unaudited) |
Quarterly results (unaudited) | NOTE 17 – QUARTERLY RESULTS (Unaudited) ​ The following tables set forth certain quarterly unaudited operating data for the fiscal years ended December 31, 2019 and 2018. The unaudited quarterly information includes all adjustments, which the Company considers necessary for a fair presentation of the information shown (in thousands, except per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal 2019
​ |  | First |  | Second |  | Third |  | Fourth
​ | ​ | Quarter | ​ | Quarter | ​ | Quarter | ​ | Quarter
Sales | ​ | $ | 2,410,608 | ​ | $ | 2,589,874 | ​ | $ | 2,666,528 | ​ | $ | 2,482,975
Gross profit | ​ |  | 1,279,290 | ​ |  | 1,368,287 | ​ |  | 1,422,530 | ​ |  | 1,324,584
Operating income | ​ |  | 444,786 | ​ |  | 498,074 | ​ |  | 536,363 | ​ |  | 441,503
Net income | ​ |  | 321,152 | ​ |  | 353,681 | ​ |  | 391,293 | ​ |  | 324,916
Earnings per share – basic (1) | ​ | $ | 4.09 | ​ | $ | 4.56 | ​ | $ | 5.14 | ​ | $ | 4.29
Earnings per share – assuming dilution (1) | ​ | $ | 4.05 | ​ | $ | 4.51 | ​ | $ | 5.08 | ​ | $ | 4.25
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal 2018
​ |  | First |  | Second |  | Third |  | Fourth
​ | ​ | Quarter | ​ | Quarter | ​ | Quarter | ​ | Quarter
Sales | ​ | $ | 2,282,681 | ​ | $ | 2,456,073 | ​ | $ | 2,482,717 | ​ | $ | 2,314,957
Gross profit | ​ |  | 1,201,258 | ​ |  | 1,288,638 | ​ |  | 1,315,755 | ​ |  | 1,234,315
Operating income | ​ |  | 422,846 | ​ |  | 479,150 | ​ |  | 485,148 | ​ |  | 428,040
Net income | ​ |  | 304,906 | ​ |  | 353,073 | ​ |  | 366,151 | ​ |  | 300,357
Earnings per share – basic (1) | ​ | $ | 3.65 | ​ | $ | 4.32 | ​ | $ | 4.54 | ​ | $ | 3.76
Earnings per share – assuming dilution (1) | ​ | $ | 3.61 | ​ | $ | 4.28 | ​ | $ | 4.50 | ​ | $ | 3.72
​
(1) | Earnings per share amounts are computed independently for each quarter and annual period. The quarterly earnings per share amounts may not sum to equal the full-year earnings per share amount.
​ The unaudited operating data presented above should be read in conjunction with the Company’s consolidated financial statements and related notes, and the other financial information included therein. ​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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