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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales $ 531,438 $ 538,431 $ 1,535,596 $ 1,592,163
Cost of sales 341,775 352,178 982,556 1,055,164
Gross profit 189,663 186,253 553,040 536,999
Selling, general, and administrative expenses 115,998 107,687 352,290 324,651
Restructuring expense 139 462 139 735
Operating income 73,526 78,104 200,611 211,613
Interest expense (1,556) (2,984) (4,980) (10,309)
Other (expense) income, net (181) 277 709 1,865
Foreign exchange income (expense), net 88 (2,483) (5,228) (8,098)
Income before income taxes 71,877 72,914 191,112 195,071
Income tax expense 16,983 14,746 43,795 39,167
Net income 54,894 58,168 147,317 155,904
Less: Net income attributable to noncontrolling interests (298) (370) (663) (1,181)
Net income attributable to Franklin Electric Co., Inc. $ 54,596 $ 57,798 $ 146,654 $ 154,723
Earnings per share:        
Basic $ 1.19 $ 1.25 $ 3.18 $ 3.34
Diluted $ 1.17 $ 1.23 $ 3.14 $ 3.29