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Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Summarized Quarterly Results of Operations | The unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 are as follows:
| 2020 Quarters (1) |  | 2019 Quarters (1)
| First |  | Second |  | Third |  | Fourth |  | First |  | Second |  | Third |  | Fourth
| (In thousands, except per share amounts)
Net sales | $ | 594,462 |  |  | $ | 561,249 |  |  | $ | 581,113 |  |  | $ | 614,822 |  |  | $ | 622,231 |  |  | $ | 642,099 |  |  | $ | 624,246 |  |  | $ | 605,997 |
Gross profit | 271,956 |  |  | 234,800 |  |  | 251,500 |  |  | 269,168 |  |  | 283,834 |  |  | 292,337 |  |  | 281,978 |  |  | 266,885 |
Operating income | 139,941 |  |  | 110,594 |  |  | 131,213 |  |  | 138,965 |  |  | 147,782 |  |  | 155,283 |  |  | 141,765 |  |  | 134,173 |
Net income (2) | 101,998 |  |  | 70,864 |  |  | 103,848 |  |  | 101,068 |  |  | 110,268 |  |  | 113,209 |  |  | 105,194 |  |  | 96,850 |
Basic EPS | $ | 1.35 |  |  | $ | 0.94 |  |  | $ | 1.38 |  |  | $ | 1.33 |  |  | $ | 1.46 |  |  | $ | 1.50 |  |  | $ | 1.39 |  |  | $ | 1.28 |
Diluted EPS | $ | 1.33 |  |  | $ | 0.93 |  |  | $ | 1.37 |  |  | $ | 1.32 |  |  | $ | 1.44 |  |  | $ | 1.48 |  |  | $ | 1.37 |  |  | $ | 1.26 |
Basic weighted average shares outstanding | 75,740 |  |  | 75,171 |  |  | 75,352 |  |  | 75,817 |  |  | 75,442 |  |  | 75,460 |  |  | 75,698 |  |  | 75,779 |
Diluted weighted average shares outstanding | 76,452 |  |  | 75,937 |  |  | 75,960 |  |  | 76,367 |  |  | 76,284 |  |  | 76,387 |  |  | 76,577 |  |  | 76,570 |
(1) Quarterly data includes the acquisition of Flow MD (February 2020) and Velcora (July 2019) from the date of acquisition. See Note 2 for further discussion.
(2) Decline in second quarter net sales and net income is primarily attributed to impacts of COVID-19.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
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