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Revision of Prior Period Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 2025
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | Consolidated Statements of Operations and Comprehensive Income (in thousands)
Three Months Ended June 30, 2024 |  | As Reported |  | Adjustments |  | As Revised
Net sales from products |  | $ | 295,185 |  |  | $ | (2,422) |  |  | $ | 292,763 |
Net sales from services |  | 208,914 |  |  | 1,559 |  |  | 210,473 |
Net sales |  | 504,099 |  |  | (863) |  |  | 503,236 |
Cost of product sales |  | 145,154 |  |  | (2,527) |  |  | 142,627 |
Cost of service sales |  | 55,210 |  |  | (757) |  |  | 54,453 |
Cost of sales |  | 200,364 |  |  | (3,284) |  |  | 197,080 |
Gross margin |  | 303,735 |  |  | 2,421 |  |  | 306,156 |
Selling, general and administrative |  | 169,427 |  |  | 1,537 |  |  | 170,964 |
Total operating expenses |  | 270,861 |  |  | 1,537 |  |  | 272,398 |
Income from operations |  | 32,874 |  |  | 884 |  |  | 33,758 |
Income before provision for income taxes |  | 50,590 |  |  | 884 |  |  | 51,474 |
Provision for income taxes |  | 9,793 |  |  | 208 |  |  | 10,001 |
Net income |  | $ | 40,797 |  |  | $ | 676 |  |  | $ | 41,473 |
Net income per common and common equivalent shares - Basic |  | $ | 0.54 |  |  | $ | 0.01 |  |  | $ | 0.55 |
Comprehensive income |  | $ | 38,189 |  |  | $ | 676 |  |  | $ | 38,865 |
There was no impact on disclosed diluted income per common and common equivalent shares for the three months ended June 30, 2024.
Six Months Ended June 30, 2024 |  | As Reported |  | Adjustments |  | As Revised
Net sales from products |  | $ | 567,233 |  |  | $ | (4,046) |  |  | $ | 563,187 |
Net sales from services |  | 397,602 |  |  | 2,318 |  |  | 399,920 |
Net sales |  | 964,835 |  |  | (1,728) |  |  | 963,107 |
Cost of product sales |  | 296,852 |  |  | (2,065) |  |  | 294,787 |
Cost of service sales |  | 104,202 |  |  | (666) |  |  | 103,536 |
Cost of sales |  | 401,054 |  |  | (2,731) |  |  | 398,323 |
Gross margin |  | 563,781 |  |  | 1,003 |  |  | 564,784 |
Selling, general and administrative |  | 322,096 |  |  | (57) |  |  | 322,039 |
Total operating expenses |  | 514,627 |  |  | (57) |  |  | 514,570 |
Income from operations |  | 49,154 |  |  | 1,060 |  |  | 50,214 |
Income before provision for income taxes |  | 216,310 |  |  | 1,060 |  |  | 217,370 |
Provision for income taxes |  | 42,295 |  |  | 250 |  |  | 42,545 |
Net income |  | $ | 174,015 |  |  | $ | 810 |  |  | $ | 174,825 |
Net income per common and common equivalent shares - Basic |  | $ | 2.31 |  |  | $ | 0.01 |  |  | $ | 2.32 |
Net income per common and common equivalent shares - Diluted |  | $ | 2.25 |  |  | $ | 0.01 |  |  | $ | 2.26 |
Comprehensive income |  | $ | 170,500 |  |  | $ | 810 |  |  | $ | 171,310 |
Consolidated Statement of Stockholders' Equity (in thousands)
|  | As Reported |  | Adjustments |  | As Revised
|  | Retained Earnings |  | Total Stockholders’ Equity |  | Retained Earnings |  | Total Stockholders’ Equity |  | Retained Earnings |  | Total Stockholders’ Equity
Balance, March 31, 2024 |  | $ | 564,467 |  |  | $ | 1,818,015 |  |  | $ | 3,865 |  |  | $ | 3,865 |  |  | $ | 568,332 |  |  | $ | 1,821,880 |
Net income |  | 40,797 |  |  | 40,797 |  |  | 676 |  |  | 676 |  |  | 41,473 |  |  | 41,473 |
Balance, June 30, 2024 |  | $ | 605,264 |  |  | $ | 1,928,840 |  |  | $ | 4,541 |  |  | $ | 4,541 |  |  | $ | 609,805 |  |  | $ | 1,933,381 |
Consolidated Statement of Cash Flows (in thousands)
Six Months Ended June 30, 2024 |  | As Reported |  | Adjustments |  | As Revised
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 174,015 |  |  | $ | 810 |  |  | $ | 174,825 |
Provision for bad debts and inventory |  | 2,241 |  |  | 8,843 |  |  | 11,084 |
Change in assets and liabilities: |  |  |  |  |  |
Receivables and contract assets |  | (60,513) |  |  | (16,579) |  |  | (77,092) |
Inventory |  | (8,116) |  |  | (8,843) |  |  | (16,959) |
Deferred revenue |  | (12,067) |  |  | 3,568 |  |  | (8,499) |
Accounts payable, accrued and other liabilities |  | (43,071) |  |  | (461) |  |  | (43,532) |
Other - net |  | (4,252) |  |  | 12,662 |  |  | 8,410 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9 + Details
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