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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | Quarterly Results of Operations (Unaudited) The unaudited quarterly results of operations for the years ended December 31, 2016 and 2015 are as follows:
| 2016 Quarters |  | 2015 Quarters
| First |  | Second |  | Third |  | Fourth |  | First |  | Second |  | Third |  | Fourth
| (In thousands, except per share amounts)
Net sales | $ | 502,572 |  |  | $ | 549,696 |  |  | $ | 530,356 |  |  | $ | 530,419 |  |  | $ | 502,198 |  |  | $ | 514,881 |  |  | $ | 503,791 |  |  | $ | 499,798 |
Gross profit | 223,335 |  |  | 244,058 |  |  | 230,889 |  |  | 232,485 |  |  | 226,041 |  |  | 231,615 |  |  | 223,260 |  |  | 223,399 |
Operating income | 102,557 |  |  | 112,976 |  |  | 108,857 |  |  | 81,411 |  |  | 101,757 |  |  | 109,909 |  |  | 121,813 |  |  | 98,259 |
Net income | 68,130 |  |  | 75,759 |  |  | 69,873 |  |  | 57,347 |  |  | 65,954 |  |  | 69,585 |  |  | 79,505 |  |  | 67,763 |
Basic EPS | $ | 0.90 |  |  | $ | 1.00 |  |  | $ | 0.92 |  |  | $ | 0.75 |  |  | $ | 0.84 |  |  | $ | 0.89 |  |  | $ | 1.03 |  |  | $ | 0.89 |
Diluted EPS | $ | 0.89 |  |  | $ | 0.99 |  |  | $ | 0.91 |  |  | $ | 0.75 |  |  | $ | 0.84 |  |  | $ | 0.89 |  |  | $ | 1.02 |  |  | $ | 0.88 |
Basic weighted average shares outstanding | 75,749 |  |  | 75,690 |  |  | 75,819 |  |  | 75,955 |  |  | 77,996 |  |  | 77,466 |  |  | 76,831 |  |  | 76,211 |
Diluted weighted average shares outstanding | 76,699 |  |  | 76,674 |  |  | 76,880 |  |  | 76,806 |  |  | 78,856 |  |  | 78,297 |  |  | 77,646 |  |  | 77,091 |
(1) Quarterly data includes acquisition of Novotema (June 2015), Alfa Valvole (June 2015), CiDRA Precision Services (July 2015), Akron Brass (March 2016), AWG Fittings (July 2016) and SFC Koenig (September 2016) from the date of acquisition. Quarterly data also includes the results of Ismatec (July 2015), Hydra-Stop (July 2016), CVI Japan (September 2016), IETG (October 2016) and CVI Korea (December 2016) through the date of disposition.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: 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=68064558&loc=d3e765-108305 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=68064558&loc=d3e725-108305 + Details
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