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CORRECTION OF PRIOR PERIOD ERROR (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | Consolidated Balance Sheet as of December 31, 2022:
(In thousands) | As previously reported |  | Corrections |  | As revised
Receivables, net | $ | 724,603 |  |  | $ | (1,299) |  |  | $ | 723,304 |
Total current assets | 1,517,313 |  |  | (1,299) |  |  | 1,516,014 |
Total assets | 4,449,602 |  |  | (1,299) |  |  | 4,448,303 |
Accrued expenses | 177,536 |  |  | (3,096) |  |  | 174,440 |
Deferred revenue | 242,483 |  |  | 12,318 |  |  | 254,801 |
Other current liabilities | 82,395 |  |  | 384 |  |  | 82,779 |
Total current liabilities | 971,439 |  |  | 9,606 |  |  | 981,045 |
Total liabilities | 2,457,483 |  |  | 9,606 |  |  | 2,467,089 |
Retained earnings | 3,174,396 |  |  | (10,905) |  |  | 3,163,491 |
Total stockholders' equity | 1,992,119 |  |  | (10,905) |  |  | 1,981,214 |
Total liabilities and stockholders' equity | 4,449,602 |  |  | (1,299) |  |  | 4,448,303 |
Consolidated Statement of Earnings for the year ended December 31, 2021:
(In thousands) | As previously reported |  | Corrections |  | As revised
Product sales | $ | 2,109,617 |  |  | $ | (5,170) |  |  | $ | 2,104,447 |
Total net sales | 2,505,931 |  |  | (5,170) |  |  | 2,500,761 |
Cost of product sales | 1,330,191 |  |  | 384 |  |  | 1,330,575 |
Total cost of sales | 1,572,575 |  |  | 384 |  |  | 1,572,959 |
Gross profit | 933,356 |  |  | (5,554) |  |  | 927,802 |
Operating income | 382,683 |  |  | (5,554) |  |  | 377,129 |
Earnings before income taxes | 354,510 |  |  | (5,554) |  |  | 348,956 |
Provision for income taxes | (87,351) |  |  | 1,224 |  |  | (86,127) |
Net earnings | 267,159 |  |  | (4,330) |  |  | 262,829 |
Basic earnings per share | $ | 6.61 |  |  | $ | (0.11) |  |  | $ | 6.50 |
Diluted earnings per share | $ | 6.58 |  |  | $ | (0.11) |  |  | $ | 6.47 |
Consolidated Statement of Comprehensive Income for the year ended December 31, 2021:
(In thousands) | As previously reported |  | Corrections |  | As revised
Net earnings | $ | 267,159 |  |  | $ | (4,330) |  |  | $ | 262,829 |
Comprehensive income | 387,550 |  |  | (4,330) |  |  | 383,220 |
Consolidated Statement of Cash Flows for the year ended December 31, 2021:
(In thousands) | As previously reported |  | Corrections |  | As revised
Net earnings | $ | 267,159 |  |  | $ | (4,330) |  |  | $ | 262,829 |
Receivables, net | (61,277) |  |  | 105 |  |  | (61,172) |
Deferred revenue | 9,584 |  |  | 5,065 |  |  | 14,649 |
Income taxes | (12,988) |  |  | (1,224) |  |  | (14,212) |
Other | 19,005 |  |  | 384 |  |  | 19,389 |
Net cash provided by operating activities | 387,668 |  |  | — |  |  | 387,668 |

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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 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8 Reference 2: 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 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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