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Condensed Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
SALES $ 357,397 $ 312,210 $ 715,127 $ 622,410
Costs and Expenses        
Cost of sales 262,772 242,940 520,283 475,794
Selling and general expenses 15,992 15,172 32,425 32,139
Other Operating Expense (Income), net 709 (1,260) (1,409) (5,828)
Costs and Expenses, Total 279,473 256,852 551,299 502,105
Equity in income of New Zealand joint venture 1,149 986 2,823 531
OPERATING INCOME BEFORE GAIN ON SALE OF A PORTION OF THE INTEREST IN THE NEW ZEALAND JOINT VENTURE 79,073 56,344 166,651 120,836
Gain on sale of a portion of the interest in the New Zealand joint venture 0 0 0 12,367
OPERATING INCOME 79,073 56,344 166,651 133,203
Interest expense (12,628) (12,250) (25,945) (24,736)
Interest and miscellaneous income, net 314 408 605 598
INCOME BEFORE INCOME TAXES 66,759 44,502 141,311 109,065
Income tax expense (10,305) (5,944) (26,446) (13,554)
NET INCOME 56,454 38,558 114,865 95,511
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment 7,442 (2,045) 7,729 (3,261)
Joint venture cash flow hedges 699 816 132 1,026
Amortization of pension and postretirement benefit costs, net of income tax expense (benefit) of $927 and $221, and $1,854 and ($2,366) 2,094 535 4,188 4,639
COMPREHENSIVE INCOME $ 66,689 $ 37,864 $ 126,914 $ 97,915
EARNINGS PER COMMON SHARE        
Basic earnings per share $ 0.70 $ 0.48 $ 1.42 $ 1.20
Diluted earnings per share $ 0.67 $ 0.48 $ 1.38 $ 1.18
Dividends per share $ 0.54 $ 0.50 $ 1.08 $ 1.00
PRO FORMA BASIS (ADJUSTED FOR 3-FOR-2 STOCK SPLIT EFFECTIVE AUGUST 2011) (NOTE 2)        
Basic earnings per share, pro forma $ 0.46 $ 0.32 $ 0.94 $ 0.80
Diluted earnings per share, pro forma $ 0.45 $ 0.32 $ 0.92 $ 0.79
Dividends per share, pro forma $ 0.36 $ 0.33 $ 0.72 $ 0.67