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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Summary of Significant Accounting Policies [Abstract]

Impacts of Adopting ASU 606 on Consolidated Financial Statement

The cumulative effect of the changes made to our consolidated balance sheet as of January 1, 2018 for the adoption of ASU 2014-09 is as follows (in thousands):

		Balance at December 31, 2017				Adjustments Due to Adoption of ASU 2014-09				Balance at January 1, 2018
Balance Sheet
Unreturned customer inventories		$	—			$	19,950			$	19,950
Accrued customer returns			35,916				6,670				42,586
Accrued core liability			11,899				14,469				26,368
Retained earnings			357,153				(1,189	)			355,964

The adoption of ASU 2014-09 resulted in the following changes to our consolidated balance sheet as of June 30, 2018 and our consolidated statement of operations for the three months and six months ended June 30, 2018 (in thousands):

		As Reported				Balances Without Adoption of ASU 2014-09				Effect of Change
Balance Sheet
Unreturned customer inventories		$	18,246			$	—			$	18,246
Prepaid expenses and other current assets			16,458				16,733				(275	)
Accrued customer returns			42,536				36,184				6,352
Accrued core liability			26,138				14,123				12,015
Retained earnings			370,461				370,857				(396	)

		Three Months Ended June 30, 2018												Six Months Ended June 30, 2018
		As Reported				Balances Without Adoption of ASU 2014-09				Effect of Change				As Reported				Balances Without Adoption of ASU 2014-09				Effect of Change
Statement of Operations
Net sales		$	286,636			$	286,531			$	105			$	548,462			$	546,009			$	2,453
Cost of sales			205,347				205,781				(434	)			394,584				393,199				1,385
Earnings from continuing operations before taxes			22,579				22,040				539				34,223				33,155				1,068
Provision for income taxes			5,752				5,615				137				8,799				8,524				275
Net earnings			15,945				15,543				402				23,934				23,141				793

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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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