XML 45 R28.htm IDEA: XBRL DOCUMENT
v3.3.1.900

QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
--- | ---
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | QUARTERLY FINANCIAL DATA (UNAUDITED)
|  | First |  | Second |  | Third |  | Fourth
2015 |  |  |  |  |  |  |  |
Net sales |  | $ | 657,900 |  |  | $ | 664,740 |  |  | $ | 645,166 |  |  | $ | 567,985 |
Gross profit |  | 220,390 |  |  | 225,781 |  |  | 198,894 |  |  | 196,079 |
Income (loss) before income taxes |  | 92,707 |  |  | 94,434 |  |  | (88,526 | ) |  | 71,172 |
Net income (loss) |  | 68,354 |  |  | 70,898 |  |  | (60,466 | ) |  | 48,692 |
Basic earnings (loss) per share |  | $ | 0.90 |  |  | $ | 0.95 |  |  | $ | (0.82 | ) |  | $ | 0.68 |
Diluted earnings (loss) per share |  | $ | 0.89 |  |  | $ | 0.94 |  |  | $ | (0.82 | ) |  | $ | 0.68 |
2014 |  |  |  |  |  |  |  |
Net sales |  | $ | 685,062 |  |  | $ | 728,531 |  |  | $ | 715,777 |  |  | $ | 683,954 |
Gross profit |  | 226,336 |  |  | 250,267 |  |  | 241,609 |  |  | 231,085 |
Income before income taxes |  | 82,426 |  |  | 114,866 |  |  | 77,785 |  |  | 100,736 |
Net income |  | 56,453 |  |  | 77,332 |  |  | 45,689 |  |  | 75,212 |
Basic earnings per share |  | $ | 0.70 |  |  | $ | 0.97 |  |  | $ | 0.58 |  |  | $ | 0.97 |
Diluted earnings per share |  | $ | 0.69 |  |  | $ | 0.96 |  |  | $ | 0.57 |  |  | $ | 0.96 |
The quarter ended December 31, 2015 includes net rationalization charges of $434 ($450 after-tax) primarily related to employee severance and other related costs. Special items also include pension settlement charges of $6,407 ($3,969 after-tax) and Venezuelan foreign exchange remeasurement losses of $708 related to the adoption of a new foreign exchange mechanism. The quarter ended September 30, 2015 includes net rationalization and asset impairment charges of $18,285 ($16,832 after-tax) primarily related to employee severance and other costs. Impairment charges include a non-cash charge to the carrying value of goodwill of $6,315 and non-cash long-lived asset impairment charges of $3,417. Special items also include pension settlement charges of $136,331 ($83,341 after-tax) primarily related to the purchase of a group annuity contract and Venezuelan foreign exchange remeasurement losses of $26,506 related to the adoption of a new foreign exchange mechanism. The quarter ended June 30, 2015 includes net rationalization charges of $1,239 ($900 after-tax) primarily related to employee severance and other costs. The quarter ended December 31, 2014 includes net rationalization and asset impairment charges of $166 ($167 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations. The quarter ended September 30, 2014 includes net rationalization and asset impairment charges of $29,068 ($30,056 after-tax). The net impairment charges during the quarter primarily consist of non-cash asset impairment charges of $32,448 partially offset by a gain of $3,911 related to the sale of real estate at a rationalized operation. Associated with the impairment of long-lived assets is an offsetting special item of $805 attributable to non-controlling interests. The quarter ended June 30, 2014 includes net rationalization and asset impairment charges of $836 ($698 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations and charges of $3,468 related to a Venezuelan remeasurement loss. The quarter ended March 31, 2014 includes net rationalization and asset impairment charges of $17 ($7 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations and charges of $17,665 related to a Venezuelan remeasurement loss. The quarterly earnings per share ("EPS") amounts are each calculated independently. Therefore, the sum of the quarterly EPS amounts may not equal the annual totals.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration