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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | QUARTERLY FINANCIAL DATA (UNAUDITED)
|  | First |  | Second |  | Third |  | Fourth
2016 |  |  |  |  |  |  |  |
Net sales |  | $ | 550,722 |  |  | $ | 592,418 |  |  | $ | 567,646 |  |  | $ | 563,828 |
Gross profit |  | 189,102 |  |  | 202,927 |  |  | 199,812 |  |  | 197,457 |
Income before income taxes |  | 73,182 |  |  | 45,758 |  |  | 80,296 |  |  | 78,152 |
Net income |  | 53,638 |  |  | 31,317 |  |  | 60,049 |  |  | 53,395 |
Basic earnings per share |  | $ | 0.77 |  |  | $ | 0.46 |  |  | $ | 0.90 |  |  | $ | 0.81 |
Diluted earnings per share |  | $ | 0.76 |  |  | $ | 0.45 |  |  | $ | 0.89 |  |  | $ | 0.81 |
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 |
The quarter ended June 30, 2016 includes special items charges of $34,348 ($33,251 after-tax) primarily related to the loss on deconsolidation of Venezuelan subsidiary and a tax benefit of $7,196 related to the reversal of an income tax valuation allowance as a result of a legal entity change to realign the Company's tax structure. 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 quarterly earnings per share ("EPS") amounts are each calculated independently. Therefore, the sum of the quarterly EPS amounts may not equal the annual totals.

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