XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Net sales $ 727,413 $ 637,515 $ 2,194,339 $ 1,913,832
Operating costs and expenses:        
Cost of sales 476,291 421,317 1,427,056 1,257,161
Selling, general and administrative 144,402 127,189 461,512 391,916
Environmental provision 55,800 0 55,800 0
Restructuring charges 2,203 0 15,533 0
Acquisition integration related charges 984 0 7,739 0
Operating profit 47,733 89,009 226,699 264,755
Other income (expense):        
Interest income 383 337 1,136 1,488
Interest expense (9,556) (6,688) (29,129) (20,651)
Miscellaneous - net 342 [1] (456) [1] (1,376) [1] (170)
Nonoperating Income (Expense), Total (8,831) (6,807) (29,369) (19,333)
Income before income taxes 38,902 82,202 197,330 245,422
Provision for Income Taxes 10,686 24,719 60,333 74,583
Net income before allocation to noncontrolling interests 28,216 57,483 136,997 170,839
Less: Noncontrolling interest in subsidiaries' earnings 137 352 537 1,043
Net income attributable to common shareholders $ 28,079 $ 57,131 $ 136,460 $ 169,796
Earnings per share - basic: (a)        
Net income attributable to common shareholders $ 0.48 $ 0.98 $ 2.32 $ 2.94
Earnings per share - diluted: (a)        
Net income attributable to common shareholders $ 0.47 $ 0.97 $ 2.28 $ 2.89
Average basic shares outstanding 58,971 58,093 58,770 57,814
Average diluted shares outstanding 59,903 59,035 59,734 58,737
Dividends per share $ 0.33 $ 0.30 $ 0.93 $ 0.86
[1] e Includes a $49,000 charge related to an increase in the Company's liability expected at its Goodyear, AZ Superfund Site and a $6,800 charge for expected remediation costs associated with a previously disclosed environmental site in Roseland, NJ for the three and nine months ended September 30, 2014.f