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Quarterly Financial Information (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited)
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share amounts)
Year Ended December 31, 2017 |  |  |  |  |  |  |
Net sales | $ | 735,618 |  |  | $ | 974,477 |  |  | $ | 1,560,983 |  |  | $ | 1,610,873 |
Gross profit | 278,778 |  |  | 399,765 |  |  | 647,149 |  |  | 495,137 |
Advertising and promotion expenses | 73,562 |  |  | 95,499 |  |  | 179,691 |  |  | 293,534 |
Other selling and administrative expenses | 332,244 |  |  | 352,943 |  |  | 381,756 |  |  | 454,423 |
Operating (loss) income | (127,028 | ) |  | (48,677 | ) |  | 85,702 |  |  | (252,820 | )
(Loss) income before income taxes | (145,671 | ) |  | (73,743 | ) |  | 61,263 |  |  | (346,836 | )
Net loss (a) | (113,231 | ) |  | (56,075 | ) |  | (603,247 | ) |  | (281,283 | )
Net loss per common share—basic | $ | (0.33 | ) |  | $ | (0.16 | ) |  | $ | (1.75 | ) |  | $ | (0.82 | )
Weighted average number of common shares | 342,914 |  |  | 343,116 |  |  | 343,870 |  |  | 344,294 |
Net loss per common share—diluted | $ | (0.33 | ) |  | $ | (0.16 | ) |  | $ | (1.75 | ) |  | $ | (0.82 | )
Weighted average number of common and potential common shares | 342,914 |  |  | 343,116 |  |  | 343,870 |  |  | 344,294 |
Dividends declared per common share | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.15 |  |  | $ | — |
Common stock market price: |  |  |  |  |  |  |
High | $ | 31.56 |  |  | $ | 25.73 |  |  | $ | 21.63 |  |  | $ | 18.81 |
Low | 24.96 |  |  | 20.01 |  |  | 14.52 |  |  | 13.04 |
Year Ended December 31, 2016 |  |  |  |  |  |  |
Net sales | $ | 869,399 |  |  | $ | 957,276 |  |  | $ | 1,795,575 |  |  | $ | 1,834,400 |
Gross profit | 388,671 |  |  | 433,567 |  |  | 870,765 |  |  | 861,388 |
Advertising and promotion expenses | 86,943 |  |  | 94,771 |  |  | 202,900 |  |  | 250,333 |
Other selling and administrative expenses | 350,874 |  |  | 350,456 |  |  | 350,469 |  |  | 348,412 |
Operating (loss) income | (49,146 | ) |  | (11,660 | ) |  | 317,396 |  |  | 262,643 |
(Loss) income before income taxes | (93,479 | ) |  | (29,752 | ) |  | 294,028 |  |  | 238,945 |
Net (loss) income (a) | (72,959 | ) |  | (19,114 | ) |  | 236,250 |  |  | 173,845 |
Net (loss) income per common share—basic | $ | (0.21 | ) |  | $ | (0.06 | ) |  | $ | 0.69 |  |  | $ | 0.51 |
Weighted average number of common shares | 340,369 |  |  | 340,926 |  |  | 341,961 |  |  | 342,653 |
Net (loss) income per common share—diluted | $ | (0.21 | ) |  | $ | (0.06 | ) |  | $ | 0.68 |  |  | $ | 0.50 |
Weighted average number of common and potential common shares | 340,369 |  |  | 340,926 |  |  | 344,226 |  |  | 344,996 |
Dividends declared per common share | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.38 |  |  | $ | 0.38 |
Common stock market price: |  |  |  |  |  |  |
High | $ | 33.62 |  |  | $ | 34.26 |  |  | $ | 34.12 |  |  | $ | 33.09 |
Low | 24.87 |  |  | 28.89 |  |  | 30.28 |  |  | 27.55 |
(a) | Net losses in the first and second quarters of 2017 included net discrete tax expense of $0.5 million and net discrete tax benefits of $3.2 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted law changes. Net loss in the third quarter of 2017 included net discrete tax expense of $561.9 million, primarily related to the establishment of a valuation allowance. Net loss in the fourth quarter of 2017 included a net discrete tax benefit of $104.4 million primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted law changes. Net loss for the first and second quarters of 2016 included net discrete tax expense of $0.2 million and net discrete tax benefits of $4.0 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted law changes. Net income for the third and fourth quarters of 2016 included net discrete tax benefits of $9.0 million and $4.0 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world, settlements, and enacted tax law changes and the adoption of a new accounting pronouncement.

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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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