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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Net sales $ 4,722,922 $ 4,095,906 $ 14,131,281 $ 12,101,725
Cost of goods sold 3,238,687 2,869,016 9,689,653 8,479,402
Gross profit 1,484,235 1,226,890 4,441,628 3,622,323
Operating expenses:        
Selling, administrative and other expenses 1,119,266 931,500 3,401,254 2,715,799
Depreciation and amortization 61,082 40,276 177,896 117,640
Provision for doubtful accounts 4,939 3,508 11,306 9,182
Total operating expenses 1,185,287 975,284 3,590,456 2,842,621
Non-operating expenses (income):        
Interest expense 25,084 9,038 75,669 23,263
Other (17,871) (3,787) (45,822) (30,828)
Total non-operating expenses (income) 7,213 5,251 29,847 (7,565)
Income before income taxes 291,735 246,355 821,325 787,267
Income taxes 71,508 87,913 197,550 278,693
Net income $ 220,227 $ 158,442 $ 623,775 $ 508,574
Basic net income per common share (usd per share) $ 1.50 $ 1.08 $ 4.25 $ 3.45
Diluted net income per common share (usd per share) 1.49 1.08 4.23 3.44
Dividends declared per common share (usd per share) $ 0.72 $ 0.6750 $ 2.16 $ 2.025
Weighted average common shares outstanding (in shares) 146,763 146,720 146,746 147,312
Dilutive effect of stock options and non-vested restricted stock awards (in shares) 690 502 574 561
Weighted average common shares outstanding - assuming dilution (in shares) 147,453 147,222 147,320 147,873
Other comprehensive (loss) income, net of income taxes:        
Foreign currency translation adjustment $ (26,591) $ 38,675 $ (147,703) $ 118,852
Net gain on cash flow and net investment hedges, net of income taxes in 2018 — $278 and $6,213, respectively 752 0 16,797 0
Pension and postretirement benefit adjustments, net of income taxes in 2018 — $2,560 and $7,850; 2017 — $3,589 and $10,728, respectively 6,912 5,780 21,221 17,235
Other comprehensive (loss) income, net of income taxes (18,927) 44,455 (109,685) 136,087
Comprehensive income $ 201,300 $ 202,897 $ 514,090 $ 644,661