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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Net sales        
Unrelated parties $ 2,060,596 $ 1,901,415 $ 5,737,584 $ 5,851,371
Related parties 40,714 49,508 128,929 151,994
Total net sales 2,101,310 1,950,923 5,866,513 6,003,365
Costs of goods sold 1,692,807 1,722,197 4,841,591 5,415,854
Gross profit 408,503 228,726 1,024,922 587,511
Selling, general and administrative expenses 95,185 82,648 279,899 242,207
Profit sharing 22,255 9,008 51,722 18,637
Amortization of intangible assets 7,208 6,041 21,359 18,308
Operating income 283,855 131,029 671,942 308,359
Interest expense, net of capitalized interest 36,199 37,084 109,888 117,334
Other expense, net 4,351 239 741 15,219
Income before income taxes 243,305 93,706 561,313 175,806
Income taxes 88,892 34,839 205,139 64,660
Net income 154,413 58,867 356,174 111,146
Net loss attributable to noncontrolling interests 2,984 1,750 5,929 11,782
Net income attributable to Steel Dynamics, Inc. $ 157,397 $ 60,617 $ 362,103 $ 122,928
Basic earnings per share attributable to Steel Dynamics, Inc. stockholders $ 0.65 $ 0.25 $ 1.49 $ 0.51
Weighted average common shares outstanding - basic (in shares) 243,761 242,074 243,539 241,836
Diluted earnings per share attributable to Steel Dynamics, Inc. stockholders, including the effect of assumed conversions when dilutive (in dollars per share) $ 0.64 $ 0.25 $ 1.48 $ 0.51
Weighted average common shares and share equivalents outstanding (in shares) 245,682 243,822 245,227 243,393
Dividends declared per share (in dollars per share) $ 0.1400 $ 0.1375 $ 0.4200 $ 0.4125