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Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Upon the adoption of Topic 606, the Company recorded a cumulative adjustment to beginning retained earnings of $11,185,000, as noted in the table below, which reflects the estimated amount of variable consideration related to future sales programs for revenue recognized in prior periods. Prior period information that is presented for comparative purposes has not been restated and continues to be reported under the accounting standards that were in effect in those periods.

Balance Sheet	Balance at December 31, 2017				Adjustments Due To Topic 606				Balance at January 1, 2018
Accounts receivable, net	$	94,725			$	(16,156	)		$	78,569
Deferred taxes, net	$	91,398			$	4,971			$	96,369
Retained earnings	$	324,081			$	(11,185	)		$	312,896

The impact of adopting the new revenue standard on the Company's consolidated condensed statements of operations for the three and nine month periods ended September 30, 2018 was as follows:

	Three Months Ended September 30, 2018
	As Reported				Balances Without Adoption of Topic 606				Effect of Change Increase/(Decrease)
Net Sales	$	262,654			$	260,069			$	2,585
Income tax provision	$	1,335			$	730			$	605
Net income	$	9,740			$	7,760			$	1,980

	Nine Months Ended September 30, 2018
	As Reported				Balances Without Adoption of Topic 606				Effect of Change Increase/(Decrease)
Net Sales	$	1,062,156			$	1,068,640			$	(6,484	)
Income tax provision	$	35,801			$	37,173			$	(1,372	)
Net income	$	133,405			$	138,517			$	(5,112	)

The impact of adopting the new revenue standard on the Company's consolidated condensed balance sheet as of September 30, 2018 was as follows:

	September 30, 2018
	As Reported				Balances Without Adoption of Topic 606				Effect of Change Increase/(Decrease)
Assets
Accounts receivable, net	$	130,033			$	152,673			$	(22,640	)
Deferred taxes, net	$	65,045			$	59,791			$	5,254
Liabilities and Equity
Income tax liability	$	10,827			$	11,916			$	(1,089	)
Retained earnings	$	443,247			$	459,544			$	(16,297	)

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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