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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Gross Sales $ 1,708,638 $ 1,697,037 $ 4,967,349 $ 4,806,245
Cash discounts (7,795) (7,418) (23,055) (20,625)
Net Sales 1,700,843 1,689,619 4,944,294 4,785,620
Cost of merchandise sold (1,378,859) (1,370,861) (3,999,588) (3,881,616)
Gross Margin 321,984 318,758 944,706 904,004
Selling, general and administrative expenses (260,752) (254,969) (776,135) (750,266)
Depreciation and amortization (12,211) (12,283) (36,231) (35,158)
Other income, net 1,511 629 5,640 3,438
Income from Operations 50,532 52,135 137,980 122,018
Interest expense, net (1,217) (1,215) (3,082) (2,635)
Income before Provision for Income Taxes 49,315 50,920 134,898 119,383
Provision for income taxes (19,761) (20,724) (54,220) (48,396)
Net Income 29,554 30,196 80,678 70,987
Less: Net income attributable to noncontrolling interests (120) (67) (229) (178)
Net Income attributable to Graybar Electric Company, Inc. $ 29,434 $ 30,129 $ 80,449 $ 70,809
Net Income per share of Common Stock (in dollars per share) $ 1.68 $ 1.73 [1] $ 4.57 [1] $ 4.07 [1]
Cash Dividends per share of Common Stock (in dollars per share) $ 0.30 $ 0.30 $ 0.90 $ 0.90
Average Common Shares Outstanding (Shares) 17,611 17,402 17,618 17,386
[1] (A)Adjusted for the declaration of a 5% stock dividend in 2016, shares related to which were issued in February 2017. Prior to the adjustment, the average common shares outstanding were 16,573 and 16,558 for the three and nine months ended September 30, 2016, respectively.