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Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Results of Operations (Unaudited) | The following table presents our quarterly results of operations for the years ended December 31, 2017 and 2016:
| First |  | Second |  | Third |  | Fourth
| (Dollars in thousands, except per share data)
2017 (1) |  |  |  |  |  |  |
Net sales | $ | 805,407 |  |  | $ | 1,021,814 |  |  | $ | 1,266,930 |  |  | $ | 995,703 |
Gross profit | 124,566 |  |  | 165,189 |  |  | 212,559 |  |  | 158,802 |
Net income | 23,232 |  |  | 27,926 |  |  | 72,382 |  |  | 146,119 |
Basic net income per share (3) | $ | 0.21 |  |  | $ | 0.25 |  |  | $ | 0.66 |  |  | $ | 1.32 |
Diluted net income per share (3) | 0.21 |  |  | 0.25 |  |  | 0.65 |  |  | 1.31 |
Dividends per share | $ | 0.09 |  |  | $ | 0.09 |  |  | $ | 0.09 |  |  | $ | 0.09 |
2016 (2) |  |  |  |  |  |  |
Net sales | $ | 792,738 |  |  | $ | 874,642 |  |  | $ | 1,139,643 |  |  | $ | 805,891 |
Gross profit | 113,877 |  |  | 127,707 |  |  | 181,939 |  |  | 110,013 |
Net income | 26,572 |  |  | 33,315 |  |  | 69,770 |  |  | 23,694 |
Basic net income per share (3) | $ | 0.22 |  |  | $ | 0.28 |  |  | $ | 0.58 |  |  | $ | 0.20 |
Diluted net income per share (3) | 0.22 |  |  | 0.27 |  |  | 0.57 |  |  | 0.20 |
Dividends per share | $ | 0.085 |  |  | $ | 0.085 |  |  | $ | 0.085 |  |  | $ | 0.085 |
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(1) | The first, second, third and fourth quarters of 2017 include rationalization charges of $0.9 million, $3.0 million, $0.6 million and $1.3 million, respectively. The first, second, third and fourth quarters of 2017 includes costs attributed to announced acquisitions of $13.2 million, $9.8 million, $0.8 million and $0.9 million, respectively. The first and second quarters of 2017 include a loss on early extinguishment of debt of $2.7 million and $4.4 million, respectively. The fourth quarter of 2017 includes the benefit from effective tax rate adjustments totaling $110.9 million primarily related to the remeasurement of net deferred tax liabilities to reflect the lower future cash tax obligations as a result of the reduction in the federal corporate tax rate under the 2017 Tax Act.
(2) | The first, second, third and fourth quarters of 2016 include rationalization charges of $1.1 million, $5.0 million, $7.8 million and $5.1 million, respectively. The fourth quarter of 2016 includes costs attributed to announced acquisitions of $1.4 million.
(3) | Net income per share data is computed independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the year.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=84173487&loc=d3e1280-108306 + Details
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