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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net sales    
Unrelated parties $ 2,597,312 $ 2,319,663
Related parties 6,563 48,553
Total net sales 2,603,875 2,368,216
Costs of goods sold 2,140,459 1,896,062
Gross profit 463,416 472,154
Selling, general and administrative expenses 106,431 102,933
Profit sharing 26,662 27,231
Amortization of intangible assets 6,926 7,424
Operating income 323,397 334,566
Interest expense, net of capitalized interest 31,896 33,973
Other expense (income), net (4,463) (3,659)
Income before income taxes 295,964 304,252
Income tax expense 70,489 105,586
Net income 225,475 198,666
Net loss attributable to noncontrolling interests 2,076 2,151
Net income attributable to Steel Dynamics, Inc. $ 227,551 $ 200,817
Basic earnings per share attributable to Steel Dynamics, Inc. stockholders $ 0.96 $ 0.83
Weighted average common shares outstanding - basic (in shares) 236,623 242,943
Diluted earnings per share attributable to Steel Dynamics, Inc. stockholders, including the effect of assumed conversions when dilutive (in dollars per share) $ 0.96 $ 0.82
Weighted average common shares and share equivalents outstanding (in shares) 237,723 244,546
Dividends declared per share (in dollars per share) $ 0.1875 $ 0.155