XML 87 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Net sales $ 2,813,324us-gaap_SalesRevenueGoodsNet $ 2,852,671us-gaap_SalesRevenueGoodsNet $ 2,853,367us-gaap_SalesRevenueGoodsNet
Cost of goods sold 1,864,027us-gaap_CostOfGoodsSold 1,910,017us-gaap_CostOfGoodsSold 1,986,711us-gaap_CostOfGoodsSold
Gross profit 949,297us-gaap_GrossProfit 942,654us-gaap_GrossProfit 866,656us-gaap_GrossProfit
Selling, general & administrative expenses 545,497us-gaap_SellingGeneralAndAdministrativeExpense 527,206us-gaap_SellingGeneralAndAdministrativeExpense 495,221us-gaap_SellingGeneralAndAdministrativeExpense
Rationalization and asset impairment charges (gains) 30,053us-gaap_RestructuringSettlementAndImpairmentProvisions 8,463us-gaap_RestructuringSettlementAndImpairmentProvisions 9,354us-gaap_RestructuringSettlementAndImpairmentProvisions
Operating income 373,747us-gaap_OperatingIncomeLoss 406,985us-gaap_OperatingIncomeLoss 362,081us-gaap_OperatingIncomeLoss
Other income (expense):      
Interest income 3,093us-gaap_InvestmentIncomeInterest 3,320us-gaap_InvestmentIncomeInterest 3,988us-gaap_InvestmentIncomeInterest
Equity earnings in affiliates 5,412us-gaap_IncomeLossFromEquityMethodInvestments 4,806us-gaap_IncomeLossFromEquityMethodInvestments 5,007us-gaap_IncomeLossFromEquityMethodInvestments
Other income 3,995us-gaap_OtherNonoperatingIncomeExpense 4,194us-gaap_OtherNonoperatingIncomeExpense 2,685us-gaap_OtherNonoperatingIncomeExpense
Interest expense (10,434)us-gaap_InterestExpense (2,864)us-gaap_InterestExpense (4,191)us-gaap_InterestExpense
Total other income (expense) 2,066us-gaap_NonoperatingIncomeExpense 9,456us-gaap_NonoperatingIncomeExpense 7,489us-gaap_NonoperatingIncomeExpense
Income before income taxes 375,813us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 416,441us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 369,570us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income taxes 121,933us-gaap_IncomeTaxExpenseBenefit 124,754us-gaap_IncomeTaxExpenseBenefit 112,354us-gaap_IncomeTaxExpenseBenefit
Net income including non-controlling interests 253,880us-gaap_ProfitLoss 291,687us-gaap_ProfitLoss 257,216us-gaap_ProfitLoss
Non-controlling interests in subsidiaries' (loss) earnings (806)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (2,093)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (195)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income $ 254,686us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 293,780us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 257,411us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Basic earnings per share (in dollars per share) $ 3.22us-gaap_EarningsPerShareBasic $ 3.58us-gaap_EarningsPerShareBasic $ 3.10us-gaap_EarningsPerShareBasic
Diluted earnings per share (in dollars per share) $ 3.18us-gaap_EarningsPerShareDiluted $ 3.54us-gaap_EarningsPerShareDiluted $ 3.06us-gaap_EarningsPerShareDiluted
Cash dividends declared per share (in dollars per share) $ 0.98us-gaap_CommonStockDividendsPerShareDeclared $ 0.83us-gaap_CommonStockDividendsPerShareDeclared $ 0.710us-gaap_CommonStockDividendsPerShareDeclared