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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Gross Sales $ 1,840,417 $ 1,720,842 $ 3,485,393 $ 3,258,711
Cash discounts (8,085) (7,962) (15,409) (15,260)
Net Sales 1,832,332 1,712,880 3,469,984 3,243,451
Cost of merchandise sold (1,481,176) (1,389,987) (2,807,409) (2,620,729)
Gross Margin 351,156 322,893 662,575 622,722
Selling, general and administrative expenses (270,768) (252,107) (534,129) (505,102)
Depreciation and amortization (12,358) (12,144) (24,415) (24,020)
Other income, net 652 3,521 1,416 4,129
Income from Operations 68,682 62,163 105,447 97,729
Non-operating expenses (7,527) (6,299) (15,013) (12,146)
Income before Provision for Income Taxes 61,155 55,864 90,434 85,583
Provision for income taxes (16,574) (22,463) (24,689) (34,459)
Net Income 44,581 33,401 65,745 51,124
Less: Net income attributable to noncontrolling interests (89) (67) (160) (109)
Net Income attributable to Graybar Electric Company, Inc. $ 44,492 $ 33,334 $ 65,585 $ 51,015
Net Income per share of Common Stock (in dollars per share) $ 2.28 $ 1.72 [1] $ 3.36 [1] $ 2.63 [1]
Cash Dividends per share of Common Stock (in dollars per share) $ 0.30 $ 0.30 $ 0.60 $ 0.60
Average Common Shares Outstanding (Shares) 19,501 19,406 19,516 19,394
[1] (A)Adjusted for the declaration of a 10% stock dividend in 2017, shares related to which were issued in February 2018. Prior to the adjustment, the average common shares outstanding were 17,642 and 17,631 for the three and six months ended June 30, 2017, respectively.