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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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 September 30, 2018 and our consolidated statement of operations for the three months and nine months ended September 30, 2018 (in thousands):

		As Reported				Balances Without Adoption of ASU 2014-09				Effect of Change
Balance Sheet
Unreturned customer inventories		$	21,295			$	—			$	21,295
Prepaid expenses and other current assets			11,681				11,907				(226	)
Accrued customer returns			53,717				45,934				7,783
Accrued core liability			30,002				16,165				13,837
Retained earnings			381,503				382,054				(551	)

		Three Months Ended September 30, 2018												Nine Months Ended September 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		$	296,619			$	298,440			$	(1,821	)		$	845,081			$	844,449			$	632
Cost of sales			209,313				210,930				(1,617	)			603,897				604,129				(232	)
Earnings from continuing operations operations before taxes			26,275				26,479				(204	)			60,498				59,634				864
Provision for income taxes			7,002				7,051				(49	)			15,801				15,575				226
Net earnings			15,749				15,904				(155	)			39,683				39,045				638

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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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