XML 35 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Recent Accounting Standards (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Changes and Error Corrections [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The cumulative effect of the changes made to the Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASC 606 were as follows:

 
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at January 1, 2018
Assets
 
 
 
 
 
Accounts receivable, less allowances
$
348,943

 
$
13,536

 
$
362,479

Inventories
241,962

 
(8,908
)
 
233,054

Prepaid expenses and other current assets
32,526

 
14,579

 
47,105

Deferred income taxes
12,161

 
(990
)
 
11,171

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Accrued liabilities
181,241

 
13,536

 
194,777

Deferred income taxes
73,505

 
386

 
73,891

 
 
 
 
 
 
Stockholders' equity
 
 
 
 
 
Retained earnings
1,206,723

 
4,295

 
1,211,018


The impact of adoption on the Consolidated Statements of Income and Balance Sheets was as follows:
 
Three months ended
June 30, 2018
 
Six months ended
June 30, 2018
 
As Reported
 
Balances Without Adoption of ASC 606
 
Effect of Change Higher/(Lower)
 
As Reported
 
Balances Without Adoption of ASC 606
 
Effect of Change Higher/(Lower)
Consolidated Statement of Income
 
 
 
 
 
 
 
 
 
 
 
Net sales
$
375,315

 
$
375,662

 
$
(347
)
 
$
741,975

 
$
742,294

 
$
(319
)
Cost of sales
237,608

 
237,651

 
(43
)
 
474,742

 
475,468

 
(726
)
Operating income
63,879

 
64,183

 
(304
)
 
120,512

 
120,105

 
407

Income before income taxes
58,799

 
59,103

 
(304
)
 
109,777

 
109,370

 
407

Income taxes
9,370

 
9,445

 
(75
)
 
21,530

 
21,427

 
103

Net income
49,429

 
49,658

 
(229
)
 
88,247

 
87,943

 
304



 
June 30, 2018
 
As Reported
 
Balances Without Adoption of ASC 606
 
Effect of Change Higher/(Lower)
Consolidated Balance Sheet
 
 
 
 
 
Assets
 
 
 
 
 
Accounts receivable, less allowances
$
378,790

 
$
357,243

 
$
21,547

Inventories
251,047

 
259,177

 
(8,130
)
Prepaid expenses and other current assets
55,943

 
41,624

 
14,319

Deferred income taxes
14,857

 
16,063

 
(1,206
)
 
 
 
 
 
 
Liabilities
 
 
 
 
 
Accrued liabilities
202,209

 
180,531

 
21,678

Deferred income taxes
70,296

 
70,045

 
251

 
 
 
 
 
 
Stockholders' equity
 
 
 
 
 
Retained earnings
1,302,640

 
1,298,044

 
4,596

Accumulated other changes to equity
(157,137
)
 
(157,148
)
 
11