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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sales        
Sales $ 1,713,724 $ 1,834,441 $ 5,156,814 $ 5,193,989
Costs and expenses        
Materials, labor, and other operating expenses (excluding depreciation) 1,375,719 1,442,178 4,123,838 4,099,249
Depreciation and amortization 36,861 31,474 107,078 93,382
Selling and distribution expenses 157,522 147,714 451,415 415,707
General and administrative expenses 26,172 27,583 77,232 84,193
Other (income) expense, net 94 (141) (68) (1,752)
Total costs and expenses 1,596,368 1,648,808 4,759,495 4,690,779
Income from operations 117,356 185,633 397,319 503,210
Foreign currency exchange gain (loss) 300 (602) (103) (355)
Pension expense (excluding service costs) (37) (40) (111) (122)
Interest expense (6,082) (6,351) (18,257) (19,051)
Interest income 10,168 13,760 31,308 34,964
Change in fair value of interest rate swaps (866) (327) (1,573) (798)
Total nonoperating income (expense) 3,483 6,440 11,264 14,638
Income before income taxes 120,839 192,073 408,583 517,848
Income tax provision (29,801) (49,005) (101,129) (131,727)
Net income $ 91,038 $ 143,068 $ 307,454 $ 386,121
Weighted average common shares outstanding:        
Basic (in shares) 38,848 39,675 39,286 39,648
Diluted (in shares) 39,063 39,983 39,521 39,849
Net income per common share:        
Basic (in dollars per share) $ 2.34 $ 3.61 $ 7.83 $ 9.74
Diluted (in dollars per share) 2.33 3.58 7.78 9.69
Dividends declared per common share (in dollars per share) $ 5.21 $ 0.20 $ 5.61 $ 3.50