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16. Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Data [Abstract] |
Quarterly Financial Data [Text Block] | 16. QUARTERLY FINANCIAL DATA (UNAUDITED) During 2016 and 2015, there were three different misstatements associated with income taxes. The first misstatement was related to our second implementation of our global single instance ERP platform in the U.S. in the third quarter of 2015. Part of the data migrated was not reconciled timely, resulting in the double counting of a deferred tax asset. The second misstatement was related to the misapplication of a tax rule related to foreign dividend income. The third misstatement was related to a design deficiency associated with transfer pricing. Management evaluated the materiality of all the errors described above from a qualitative and quantitative perspective. Based on such evaluation, we have concluded that they are not material to any individual prior period, nor did they have an effect on the trend of financial results, taking into account the requirements of the Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 108, Considering the Effect of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements (SAB 108). Accordingly, we are correcting these errors in every affected period in the 2015 and 2016 consolidated financial statements included in this Form 10-K. During the fourth quarter of 2017, we identified errors in the unaudited interim condensed consolidated financial statements for the three months ended September 30, 2017. We identified an error in the recording of deferred revenue acquired in our acquisition of RainDance (see Note 2, "Acquisitions"). This resulted in an overstatement of revenue recorded in the third quarter of 2017 of $0.9 million that was corrected in the fourth quarter of 2017. In addition, we identified an error in an estimated employee benefit expense that resulted in an understatement of expenses reported in Cost of goods sold, Selling, general and administrative expense and Research and development expense, net, in the third quarter of 2017 of $3.8 million that was corrected in the fourth quarter of 2017. Finally, we identified an error during our reconciliation of various inventory accounts which resulted in an understatement of Cost of goods sold in the third quarter of 2017 of $3.5 million that was corrected in the fourth quarter of 2017. The impact of these errors resulted in an overstatement of our Provision for income taxes reported in the third quarter of 2017 of $2.9 million that was corrected in the fourth quarter of 2017. Management evaluated the materiality of all the errors described in the previous paragraph from a qualitative and quantitative perspective. Based on such evaluation, we have concluded that they are not material to any individual prior period, nor did they have an effect on the trend of financial results, taking into account the requirements of SAB 108. Accordingly, we are correcting these errors in the financial statements for the quarter ended September 30, 2017 included in this Form 10-K. The impact of the immaterial error corrections described above are presented on a as reported, adjustment and as revised basis in the following summarized quarterly financial data for 2017 and 2016 (in millions, except per share data):
As reported: |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2017 |  |  |  |  |  |  |  |
Net sales |  | $ | 500.1 |  |  | $ | 504.7 |  |  | $ | 535.0 |  |  | $ | 620.4 |
Cost of goods sold |  | 230.1 |  |  | 231.4 |  |  | 230.5 |  |  | 280.8 |
Gross profit |  | 270.0 |  |  | 273.3 |  |  | 304.5 |  |  | 339.6 |
Selling, general and administrative expense |  | 194.9 |  |  | 213.0 |  |  | 196.8 |  |  | 204.2 |
Research and development expense |  | 49.5 |  |  | 62.6 |  |  | 61.4 |  |  | 76.8 |
Income before income taxes |  | 20.1 |  |  | 1.1 |  |  | 38.9 |  |  | 37.7 |
(Provision for) benefit from income taxes |  | (7.7 | ) |  | 3.9 |  |  | (11.5 | ) |  | 32.2 |
Net income |  | 12.4 |  |  | 5.0 |  |  | 27.4 |  |  | 69.9 |
Basic earnings per share |  | $ | 0.42 |  |  | $ | 0.17 |  |  | $ | 0.92 |  |  | $ | 2.35 |
Diluted earnings per share |  | $ | 0.41 |  |  | $ | 0.17 |  |  | $ | 0.91 |  |  | $ | 2.32 |
2016 |  |  |  |  |  |  |  |
Net sales |  | $ | 471.2 |  |  | $ | 516.8 |  |  | $ | 508.7 |  |  | $ | 571.5 |
Cost of goods sold |  | 207.2 |  |  | 236.6 |  |  | 229.2 |  |  | 257.1 |
Gross profit |  | 264.0 |  |  | 280.2 |  |  | 279.5 |  |  | 314.4 |
Selling, general and administrative expense |  | 189.7 |  |  | 205.5 |  |  | 201.5 |  |  | 220.0 |
Research and development expense |  | 48.6 |  |  | 49.8 |  |  | 49.9 |  |  | 57.6 |
Income (loss) before income taxes |  | 20.2 |  |  | 26.9 |  |  | 22.7 |  |  | (28.2 | )
(Provision for) benefit from income taxes |  | (7.9 | ) |  | (8.9 | ) |  | (4.3 | ) |  | 7.6 |
Net income (loss) |  | 12.3 |  |  | 18.0 |  |  | 18.4 |  |  | (20.6 | )
Basic earnings (loss) per share |  | $ | 0.42 |  |  | $ | 0.61 |  |  | $ | 0.63 |  |  | $ | (0.70 | )
Diluted earnings (loss) per share |  | $ | 0.42 |  |  | $ | 0.61 |  |  | $ | 0.62 |  |  | $ | (0.70 | )
Adjustments: |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2017 |  |  |  |  |  |  |  |
Net sales |  | $ | — |  |  | $ | — |  |  | $ | (0.9 | ) |  | $ | 0.9 |
Cost of goods sold |  | — |  |  | — |  |  | 4.7 |  |  | (4.7 | )
Gross profit |  | — |  |  | — |  |  | (5.6 | ) |  | 5.6 |
Selling, general and administrative expense |  | — |  |  | — |  |  | 1.9 |  |  | (1.9 | )
Research and development expense |  | — |  |  | — |  |  | 0.7 |  |  | (0.7 | )
Income before income taxes |  | — |  |  | — |  |  | (8.2 | ) |  | 8.2 |
(Provision for) benefit from income taxes |  | — |  |  | — |  |  | 2.9 |  |  | 4.6 |
Net income |  | — |  |  | — |  |  | (5.3 | ) |  | 12.8 |
Basic earnings per share |  | $ | — |  |  | $ | — |  |  | $ | (0.18 | ) |  | $ | 0.43 |
Diluted earnings per share |  | $ | — |  |  | $ | — |  |  | $ | (0.18 | ) |  | $ | 0.43 |
2016 |  |  |  |  |  |  |  |
Net sales |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of goods sold |  | — |  |  | — |  |  | — |  |  | — |
Gross profit |  | — |  |  | — |  |  | — |  |  | — |
Selling, general and administrative expense |  | — |  |  | — |  |  | — |  |  | — |
Research and development expense |  | — |  |  | — |  |  | — |  |  | — |
Income (loss) before income taxes |  | — |  |  | — |  |  | — |  |  | — |
(Provision for) benefit from income taxes |  | (1.3 | ) |  | (1.4 | ) |  | (1.3 | ) |  | 1.9 |
Net income (loss) |  | (1.3 | ) |  | (1.4 | ) |  | (1.3 | ) |  | 1.9 |
Basic earnings (loss) per share |  | $ | (0.04 | ) |  | $ | (0.05 | ) |  | $ | (0.05 | ) |  | $ | 0.07 |
Diluted earnings (loss) per share |  | $ | (0.05 | ) |  | $ | (0.05 | ) |  | $ | (0.04 | ) |  | $ | 0.07 |
As revised: |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2017 |  |  |  |  |  |  |  |
Net sales |  | $ | 500.1 |  |  | $ | 504.7 |  |  | $ | 534.1 |  |  | $ | 621.3 |
Cost of goods sold |  | 230.1 |  |  | 231.4 |  |  | 235.2 |  |  | 276.1 |
Gross profit |  | 270.0 |  |  | 273.3 |  |  | 298.9 |  |  | 345.2 |
Selling, general and administrative expense |  | 194.9 |  |  | 213.0 |  |  | 198.7 |  |  | 202.3 |
Research and development expense |  | 49.5 |  |  | 62.6 |  |  | 62.1 |  |  | 76.1 |
Income before income taxes |  | 20.1 |  |  | 1.1 |  |  | 30.7 |  |  | 45.9 |
(Provision for) benefit from income taxes |  | (7.7 | ) |  | 3.9 |  |  | (8.6 | ) |  | 36.8 |
Net income |  | 12.4 |  |  | 5.0 |  |  | 22.1 |  |  | 82.7 |
Basic earnings per share |  | $ | 0.42 |  |  | $ | 0.17 |  |  | $ | 0.74 |  |  | $ | 2.78 |
Diluted earnings per share |  | $ | 0.41 |  |  | $ | 0.17 |  |  | $ | 0.73 |  |  | $ | 2.75 |
2016 |  |  |  |  |  |  |  |
Net sales |  | $ | 471.2 |  |  | $ | 516.8 |  |  | $ | 508.7 |  |  | $ | 571.5 |
Cost of goods sold |  | 207.2 |  |  | 236.6 |  |  | 229.2 |  |  | 257.1 |
Gross profit |  | 264.0 |  |  | 280.2 |  |  | 279.5 |  |  | 314.4 |
Selling, general and administrative expense |  | 189.7 |  |  | 205.5 |  |  | 201.5 |  |  | 220.0 |
Research and development expense |  | 48.6 |  |  | 49.8 |  |  | 49.9 |  |  | 57.6 |
Income (loss) before income taxes |  | 20.2 |  |  | 26.9 |  |  | 22.7 |  |  | (28.2 | )
(Provision for) benefit from income taxes |  | (9.2 | ) |  | (10.3 | ) |  | (5.6 | ) |  | 9.5 |
Net income (loss) |  | 11.0 |  |  | 16.6 |  |  | 17.1 |  |  | (18.7 | )
Basic earnings (loss) per share |  | $ | 0.38 |  |  | $ | 0.56 |  |  | $ | 0.58 |  |  | $ | (0.63 | )
Diluted earnings (loss) per share |  | $ | 0.37 |  |  | $ | 0.56 |  |  | $ | 0.58 |  |  | $ | (0.63 | )
Note: As a result of the net loss for the three months ended December 31, 2016, all potentially issuable common shares have been excluded from the diluted shares used in the computation of earnings per share as their effect was anti-dilutive.

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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 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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