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CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]      
Net sales $ 3,398,719 $ 3,116,350 $ 3,023,189
Cost of goods sold 1,919,718 1,717,280 1,671,590
Gross profit 1,479,001 1,399,070 1,351,599
Research and development expenses 286,026 254,263 246,101
Selling and administrative expenses 557,311 566,224 494,517
Restructuring and other charges, net 19,711 (1,700) 7,594
Amortization of acquisition-related intangibles 34,694 23,763 15,040
Gain on sales of fixed assets (184) (10,836) 0
Operating profit 581,443 567,356 588,347
Interest expense 65,363 52,989 46,062
Other (income) expense, net (20,965) (9,350) 3,184
Income before taxes 537,045 523,717 539,101
Taxes on income 241,380 118,686 119,854
Net income 295,665 405,031 419,247
Other comprehensive income (loss):      
Foreign currency translation adjustments 54,609 (54,526) (124,157)
Losses on derivatives qualifying as hedges (17,936) (1,797) (2,970)
Pension and postretirement liability adjustment 5,940 (10,332) 54,117
Comprehensive income $ 338,278 $ 338,376 $ 346,237
Net income per share - basic (in dollars per share) $ 3.73 $ 5.07 $ 5.19
Net income per share - diluted (in dollars per share) $ 3.72 $ 5.05 $ 5.16
Average number of shares outstanding - basic (in shares) 79,070 79,648 80,449
Average number of shares outstanding - diluted (in shares) 79,370 79,981 80,891
Dividends declared per share (in dollars per share) $ 2.66 $ 2.40 $ 2.06