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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 538,431 $ 551,672 $ 1,592,163 $ 1,554,280
Cost of sales 352,178 361,077 1,055,164 1,029,063
Gross profit 186,253 190,595 536,999 525,217
Selling, general, and administrative expenses 107,687 109,366 324,651 322,352
Restructuring expense 462 1,185 735 1,898
Operating income 78,104 80,044 211,613 200,967
Interest expense (2,984) (3,066) (10,309) (7,492)
Other income/(expense), net 277 (1,250) 1,865 (2,787)
Foreign exchange expense (2,483) (3,376) (8,098) (4,290)
Income before income taxes 72,914 72,352 195,071 186,398
Income tax expense 14,746 13,380 39,167 37,544
Net income 58,168 58,972 155,904 148,854
Less: Net income attributable to noncontrolling interests (370) (348) (1,181) (1,101)
Net income attributable to Franklin Electric Co., Inc. $ 57,798 $ 58,624 $ 154,723 $ 147,753
Earnings per share:        
Basic $ 1.25 $ 1.26 $ 3.34 $ 3.17
Diluted $ 1.23 $ 1.24 $ 3.29 $ 3.13