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Revision for Immaterial Misstatements (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The revision to the accompanying consolidated balance sheets, consolidated statement of operations and comprehensive loss, and consolidated statement of cash flows are as follows. There were no changes to the consolidated statements of stockholders’ equity that have not otherwise been reflected in the consolidated balance sheet and consolidated statement of operations and comprehensive income or loss as detailed in the tables below:

			As of December 31, 2020
			As Previously Reported						Adjustments						As Revised
			(In thousands)
Consolidated Balance Sheet
Inventories			$	514,673					$	13,801					$	528,474
Total current assets			2,482,890						13,801						2,496,691
Total assets			5,521,089						13,801						5,534,890
Retained earnings			1,539,809						13,801						1,553,610
Total stockholders' equity			596,343						13,801						610,144
Total liabilities and stockholders' equity			5,521,089						13,801						5,534,890

			Year Ended December 31, 2020
			As Previously Reported						Adjustments						As Revised
			(In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Income
Net sales			$	4,583,660					$	4,773					$	4,588,433
Cost of sales			2,340,066						5,264						2,345,330
Gross profit			2,243,594						(491)						2,243,103
Advertising and promotion expenses			516,803						9,000						525,803
Other selling and administrative expenses			1,345,906						(3,342)						1,342,564
Operating income			380,885						(6,149)						374,736
Income before income taxes			183,806						(6,149)						177,657
Provision for income taxes			68,649						(3,100)						65,549
Net income			126,628						(3,049)						123,579
Comprehensive income			51,536						(3,049)						48,487
Net loss per common share - basic			$	0.36					$	(0.01)					$	0.36
Net income per common share - diluted			$	0.36					$	(0.01)					$	0.35

			Year Ended December 31, 2019
			As Previously Reported						Adjustments						As Revised
			(In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss
Cost of sales			$	2,523,792					$	3,438					$	2,527,230
Gross profit			1,980,779						(3,438)						1,977,341
Advertising and promotion expenses			551,517						(1,300)						550,217
Operating income			39,240						(2,138)						37,102
Loss before income taxes			(157,517)						(2,138)						(159,655)
Provision for income taxes			55,224						3,100						58,324
Net loss			(213,512)						(5,238)						(218,750)
Comprehensive loss			(223,770)						(5,238)						(229,008)
Net loss per common share - basic			$	(0.62)					$	(0.01)					$	(0.63)
Net income per common share - diluted			$	(0.62)					$	(0.01)					$	(0.63)

			Year Ended December 31, 2020
			As Previously Reported						Adjustments						As Revised
			(In thousands)
Consolidated Statement of Cash Flows
Net income			$	126,628					$	(3,049)					$	123,579
Depreciation			160,973						(6,447)						154,526
Deferred income taxes			(2,200)						(3,100)						(5,300)
Changes in assets and liabilities:
Inventories			(50,562)						8,369						(42,193)
Prepaid expenses and other current assets			5,661						(25,700)						(20,039)
Accounts payable, accrued liabilities, and income taxes payable			11,209						6,194						17,403
Other, net			(26,457)						20,927						(5,530)
Net cash flows provided by operating activities			288,502						(2,806)						285,696
Purchases of other property, plant, and equipment			(62,195)						2,806						(59,389)
Net cash flows used for investing activities			(134,910)						2,806						(132,104)

			Year Ended December 31, 2019
			As Previously Reported						Adjustments						As Revised
			(In thousands)
Consolidated Statement of Cash Flows
Net loss			$	(213,512)					$	(5,238)					$	(218,750)
Asset impairments			38,729						2,485						41,214
Deferred income taxes			(9,136)						3,100						(6,036)
Changes in assets and liabilities:
Inventories			(26,920)						4,234						(22,686)
Prepaid expenses and other current assets			47,971						1,100						49,071
Accounts payable, accrued liabilities, and income taxes payable			(58,679)						4,027						(54,652)
Other, net			(10,094)						(22,249)						(32,343)
Net cash flows provided by operating activities			180,977						(12,541)						168,436
Purchases of tools, dies, and molds			(50,509)						(2,485)						(52,994)
Purchases of other property, plant, and equipment			(65,843)						15,026						(50,817)
Net cash flows used for investing activities			(114,176)						12,541						(101,635)

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

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