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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 | Quarterly Financial Data (unaudited) The healthcare business in the United States and overseas is typically subject to quarterly fluctuations in hospital and other alternative care admissions. Although this did not occur during fiscal year 2015, the Company’s third fiscal quarter revenues have historically experienced a sequential decline from its second fiscal quarter revenues. The Company believes this is primarily due to the summer vacation season during which people tend to avoid elective procedures. Another factor affecting the seasonality of the Company’s quarterly revenues is the traditional “flu season” that often increases hospital and acute care facility admissions in the first and fourth calendar quarters. Because the Company’s non-sales variable operating expenses often do not fluctuate in the same manner as its quarterly product sales, this may cause fluctuations in the Company’s quarterly operating income that are disproportionate to fluctuations in its quarterly revenue. The following tables contain selected unaudited consolidated statements of operations data for each quarter of 2016 and 2015 (in thousands, except per share data):
| Quarters Ended |
Fiscal 2016 | April 2, 2016 |  | July 2, 2016 |  | October 1, 2016 |  | December 31, 2016 |
Total revenue | $ | 171,167 |  |  | $ | 172,636 |  |  | $ | 167,621 |  |  | $ | 183,201 |  |
Gross profit | 114,213 |  |  | 115,135 |  |  | 110,122 |  |  | 124,329 |  |
Operating income | 37,337 |  |  | 36,429 |  |  | 36,604 |  |  | 310,400 |  | (1)
Net income attributable to Masimo Corporation stockholders | 27,577 |  |  | 30,023 |  |  | 27,773 |  |  | 215,293 |  | (2)
Net income per share attributable to Masimo Corporation stockholders: |  |  |  |  |  |  |  |
Basic (3) | $ | 0.56 |  |  | $ | 0.61 |  |  | $ | 0.56 |  |  | $ | 4.31 |  |
Diluted (3) | $ | 0.53 |  |  | $ | 0.57 |  |  | $ | 0.52 |  |  | $ | 3.97 |  |
(1) On November 5, 2016, the Company entered into the Philips Settlement Agreement, pursuant to which Philips N.V. agreed to pay the Company $300 million. Per the terms of the agreement, $270 million of this settlement is included within Operating income for the quarter ended December 31, 2016. See Note 2 - Summary of Significant Accounting Policies under the subheading “Litigation Costs and Contingencies” and Note 15 - Commitments and Contingencies under the subheading “Litigation” for additional information on the Phillips Settlement Agreement.
(2) The Company early adopted Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09) during the quarter ended April 2, 2016. The early adoption of ASU 2016-09 increased net income for the quarters ended April 2, 2016, July 2, 2016, October 1, 2016 and December 31, 2016 by $1.0 million, $4.1 million, $2.6 million and $5.2 million, respectively.
(3) Due to the significant impact of the Philips Settlement Agreement on the fourth quarter results, the sum of the basic and diluted earnings per share numbers for each quarter will not equal the basic and diluted earnings per share number for the entire year.
| Quarters Ended |
Fiscal 2015 | April 4, 2015 |  | July 4, 2015 |  | October 3, 2015 |  | January 2, 2016 |
Total revenue | $ | 154,537 |  |  | $ | 155,726 |  |  | $ | 152,575 |  |  | $ | 167,273 |  |
Gross profit | 103,105 |  |  | 102,901 |  |  | 102,232 |  |  | 101,745 |  |
Operating income | 27,377 |  |  | 27,841 |  |  | 28,140 |  |  | 36,892 |  | (2)
Net income attributable to Masimo Corporation stockholders | 20,523 |  |  | 19,351 |  |  | 19,325 |  |  | 24,101 |  |
Net income per share attributable to Masimo Corporation stockholders: |  |  |  |  |  |  |  |
Basic | $ | 0.39 |  |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.48 |  |
Diluted | $ | 0.38 |  |  | $ | 0.36 |  |  | $ | 0.36 |  |  | $ | 0.46 |  |
(2) On November 16, 2015, we entered into a Settlement Agreement with Shenzhen Mindray Biomedical Electronics Co., Ltd. and certain of its affiliates (collectively, Mindray), pursuant to which Mindray agreed to pay the Company $25 million, which has been included within Operating income for the quarter ended January 2, 2016.

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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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