In the second quarter, we generated revenue of approximately $3 billion, the highest quarterly sales of any period in our company's history.
Our adjusted earnings per share of $4.45 was the highest on record for any quarter.
We've delivered almost $95 million of the anticipated $100 million to $110 million in savings for our restructuring initiatives.
To alleviate manufacturing constraints, we have approved new capital investments of approximately $650 million to increase our production, with most taking 12 to 18 months to fully implement.
In the second quarter, we purchased $142 million of our stock at an average price of $2.08 (sic) $208 for a total amount of approximately $830 million since we initiated the program.
For the quarter, our sales were $2.954 million, an increase of 44% as reported and 38% on a constant basis.
Gross margin for the quarter was 30.5% as reported or 30.7%, excluding charges, increasing from 21.4% in the prior year.
SG&A, as reported, was 16.9% of sales or 16.8% versus 19.7% in the prior year, both excluding charges as a result of strong leverage by the business on the sharp increase in volume.
Operating margin as reported was 13.7%, with restructuring charges of approximately $7 million.
Our restructuring savings are on track as we have recorded approximately $95 million of the planned $100 million and $110 million of savings.
Operating margin excluding charges, 13.9%, improving from 1.7% in the prior year.
Interest for the quarter was $15 million.
Other income, other expense was $11 million income, primarily a result of a settlement of foreign non-income tax contingency and other miscellaneous items.
Income tax rate, as reported, was 16% and 22.5% on a non-GAAP basis versus a credit of 2.5% in the prior year.
We expect the full year rate to be between 21.5% and 22.5%.
That leads us to a net earnings as reported of $336 million or an earnings per share of $4.82.
Earnings per share excluding charges was $4.45 percent -- or $4.45, excuse me.
The Global Ceramic segment had sales of just over $1 billion, an increase of 38% as reported or 34% on a constant basis, with strong geographic growth across our business led by Mexico, Brazil and Europe.
Operating margin, excluding charges was 13.2%, a significant increase from the low point of 2020 at 0.5%.
Flooring North America had sales of just under $1.1 billion for a 35% increase, driven by a strong residential demand with commercial channel continuing its growth versus prior year, but still below historic levels.
Operating income, excluding charges, was 11.2% and similar to Global Ceramic, a significant increase from the 2020 margin trough.
Lastly, Flooring Rest of the World with sales of just over $830 million, a 68% improvement as reported or 50% on a constant basis, as continued strength in residential remodeling and new home construction drove improvement across all product groups, led by resilient, panels, laminate and our soft surface business in Australia and New Zealand.
Operating margin, excluding charges of 19.7%, and similar to our other segments, was a significant increase from prior year's low point of 11.9%.
Corporate and eliminations came in at $12 million and expect full year 2021 to be approximately $45 million.
Cash and short-term investments are approximately $1.4 billion with free cash flow of $226 million in the quarter.
Receivables of just over $2 billion, an improvement in DSO to 53 days versus 64 days in the prior year.
Inventories for the quarter were just shy of $2.1 billion, an increase of approximately $160 million or 8% from the prior year or increasing $85 million or 4% compared to Q1 2021.
Inventory days remain historically low at 99 days versus 126 in the prior year.
Property, plant and equipment were just shy of $4.5 billion and capex for the quarter was $113 million with D&A of $148 million.
Full year capex has been increased to approximately $700 million to strengthen future growth with full year D&A projected to be approximately $580 million.
Overall, the balance sheet and cash flow remained very strong, with gross debt of $2.7 billion, total cash and short-term investments of approximately $1.4 billion and a leverage at 0.7 times to adjusted EBITDA.
For the period, our Flooring Rest of the World segment, sales increased 68% as reported and 50% on a constant basis.
Operating margins expanded to 19.7% due to higher volume, pricing and mix improvements and a reduction of COVID restrictions, partially offset by inflation.
For the period, our Flooring North America segment sales increased 35%, and adjusted margins expanded to 11.2% due to higher volume, productivity, pricing and mix improvements and fewer COVID interruptions, partially offset by inflation.
For the period, our Global Ceramic segment sales increased 38% as reported and 34% on a constant basis.
Adjusted margins expanded to 13.2% due to higher volume, productivity, pricing and mix, improvements and fewer COVID disruptions, partially offset by inflation.
We are expanding operations in Mexico this quarter, and we have initiated new investments to increase capacity in Brazil.
Around the world, flooring sales trends remain favorable, with residential remodeling and new construction at high levels and commercial projects strengthening.
Material, energy and transportation inflation is expected to continue and will require further pricing actions to offset.
Most of our facilities will operate at high utilization rates, though ongoing material and local labor constraints will limit our production.
Given these factors, we anticipate our third quarter adjusted earnings per share to be between $3.71 and $3.81, excluding any restructuring charges.
Longer term, housing sales and remodeling are expected to remain at historical high levels.
Apartment renovation should accelerate as rent deferment expires, and investments in commercial projects should continue to strengthen.

Summary:
Our adjusted earnings per share of $4.45 was the highest on record for any quarter.
To alleviate manufacturing constraints, we have approved new capital investments of approximately $650 million to increase our production, with most taking 12 to 18 months to fully implement.
That leads us to a net earnings as reported of $336 million or an earnings per share of $4.82.
Earnings per share excluding charges was $4.45 percent -- or $4.45, excuse me.
We are expanding operations in Mexico this quarter, and we have initiated new investments to increase capacity in Brazil.
Around the world, flooring sales trends remain favorable, with residential remodeling and new construction at high levels and commercial projects strengthening.
Material, energy and transportation inflation is expected to continue and will require further pricing actions to offset.
Most of our facilities will operate at high utilization rates, though ongoing material and local labor constraints will limit our production.
Given these factors, we anticipate our third quarter adjusted earnings per share to be between $3.71 and $3.81, excluding any restructuring charges.
Longer term, housing sales and remodeling are expected to remain at historical high levels.
Apartment renovation should accelerate as rent deferment expires, and investments in commercial projects should continue to strengthen.