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Quarterly Operating Results (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Operating Results (Unaudited) | Quarterly Operating Results (Unaudited)
2017 | 1st |  | 2nd |  | 3rd |  | 4th |  | Year
| (In thousands, except days and per share amounts)
Number of days in quarter | 92 |  |  | 91 |  |  | 91 |  |  | 91 |  |  | 365 |
Revenues | $ | 551,381 |  |  | $ | 610,633 |  |  | $ | 621,745 |  |  | $ | 604,884 |  |  | $ | 2,388,643 |
Gross profit | 222,114 |  |  | 242,509 |  |  | 239,824 |  |  | 229,592 |  |  | 934,039 |
Operating income | 51,337 |  |  | 62,481 |  |  | 60,791 |  |  | 60,081 |  |  | 234,690 |
Net income | 25,581 |  |  | 35,891 |  |  | 945 |  |  | 30,436 |  |  | 92,853 |
Less: Net loss attributable to noncontrolling interest | (106 | ) |  | (86 | ) |  | (82 | ) |  | (83 | ) |  | (357 | )
Net income attributable to Belden | 25,687 |  |  | 35,977 |  |  | 1,027 |  |  | 30,519 |  |  | 93,210 |
Less: Preferred stock dividends | 8,733 |  |  | 8,733 |  |  | 8,732 |  |  | 8,733 |  |  | 34,931 |
Net income (loss) attributable to Belden common stockholders | 16,954 |  |  | 27,244 |  |  | (7,705 | ) |  | 21,786 |  |  | 58,279 |
Basic income (loss) per share attributable to Belden common stockholders: | $ | 0.40 |  |  | $ | 0.64 |  |  | $ | (0.18 | ) |  | $ | 0.52 |  |  | $ | 1.38 |
Diluted income (loss) per share attributable to Belden stockholders: | $ | 0.40 |  |  | $ | 0.64 |  |  | $ | (0.18 | ) |  | $ | 0.51 |  |  | $ | 1.37 |
During the financial closing process for the fourth quarter of 2017, we determined that certain consolidated financial statement amounts were not recorded correctly in prior interim periods of 2017. We have evaluated these errors and concluded that they were not material to any of our previously issued interim financial statements and did not require restatement of the quarters. The errors primarily related to recognizing revenue prior to satisfying all of the delivery criteria in one business within our Broadcast segment. The impact of the errors in the first, second, and third quarters of 2017 was an overstatement of revenues of $6.1 million, $10.4 million, and $11.8 million, respectively, and an overstatement of net income of $3.0 million, $1.3 million, and $2.6 million, respectively. The impact of the errors in the fourth quarter of 2017 was an understatement of revenues of $27.8 million and an understatement of net income of $5.2 million. All of the errors have been corrected as of December 31, 2017. Included in the first, second, third, and fourth quarters of 2017 are severance, restructuring, and integration costs of $6.6 million, $9.6 million, $16.7 million, and $9.9 million, respectively.
2016 | 1st |  | 2nd |  | 3rd |  | 4th |  | Year
| (In thousands, except days and per share amounts)
Number of days in quarter | 94 |  |  | 91 |  |  | 91 |  |  | 90 |  |  | 366 |
Revenues | $ | 541,497 |  |  | $ | 601,631 |  |  | $ | 601,109 |  |  | $ | 612,435 |  |  | $ | 2,356,672 |
Gross profit | 225,035 |  |  | 248,213 |  |  | 245,962 |  |  | 261,784 |  |  | 980,994 |
Operating income | 40,964 |  |  | 62,241 |  |  | 61,980 |  |  | 58,668 |  |  | 223,853 |
Net Income | 16,358 |  |  | 41,933 |  |  | 36,072 |  |  | 33,283 |  |  | 127,646 |
Less: Net loss attributable to noncontrolling interest | (99 | ) |  | (99 | ) |  | (88 | ) |  | (71 | ) |  | (357 | )
Net income attributable to Belden | 16,457 |  |  | 42,032 |  |  | 36,160 |  |  | 33,354 |  |  | 128,003 |
Less: Preferred stock dividends | — |  |  | — |  |  | 6,695 |  |  | 8,733 |  |  | 15,428 |
Net income attributable to Belden common stockholders | 16,457 |  |  | 42,032 |  |  | 29,465 |  |  | 24,621 |  |  | 112,575 |
Basic income per share attributable to Belden common stockholders: | $ | 0.39 |  |  | $ | 1.00 |  |  | $ | 0.70 |  |  | $ | 0.58 |  |  | $ | 2.67 |
Diluted income per share attributable to Belden stockholders: | $ | 0.39 |  |  | $ | 0.99 |  |  | $ | 0.69 |  |  | $ | 0.58 |  |  | $ | 2.65 |
Included in the first, second, third, and fourth quarters of 2016 are severance, restructuring, and integration costs of $8.4 million, $5.9 million, $12.8 million, and $11.7 million, respectively. Included in the fourth quarter of 2016 are royalty revenues of $10.3 million from a patent settlement during the quarter.

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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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