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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Net sales $ 4,736,833 $ 4,586,294
Cost of goods sold 3,228,665 3,150,487
Gross profit 1,508,168 1,435,807
Operating expenses:    
Selling, administrative and other expenses 1,197,220 1,133,771
Depreciation and amortization 61,977 58,363
Provision for doubtful accounts 3,969 2,701
Total operating expenses 1,263,166 1,194,835
Non-operating expenses (income):    
Interest expense 23,883 24,109
Other 9,607 (12,456)
Total non-operating expenses (income) 33,490 11,653
Income before income taxes 211,512 229,319
Income taxes 51,262 52,743
Net income $ 160,250 $ 176,576
Basic net income per common share (usd per share) $ 1.10 $ 1.20
Diluted net income per common share (usd per share) 1.09 1.20
Dividends declared per common share (usd per share) $ 0.7625 $ 0.7200
Weighted average common shares outstanding (in shares) 145,981 146,727
Dilutive effect of stock options and non-vested restricted stock awards (in shares) 713 595
Weighted average common shares outstanding - assuming dilution (in shares) 146,694 147,322
Other comprehensive income, net of income taxes:    
Foreign currency translation adjustments $ 27,117 $ 42,880
Cash flow and net investment hedges adjustments, net of income taxes in 2019 and 2018 — $5,795 and $6,180 respectively 15,668 (16,710)
Pension and postretirement benefit adjustments, net of income taxes in 2019 and 2018 — $1,788 and $2,648, respectively 4,832 7,164
Other comprehensive income, net of income taxes 47,617 [1] 33,334
Comprehensive income $ 207,867 $ 209,910
[1] Includes the effects of reclassifying realized currency losses of $27,037 out of accumulated other comprehensive loss into earnings in connection with the March 7, 2019 sale of Grupo Auto Todo. Refer to the accumulated other comprehensive loss footnote for further details.