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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Net sales $ 664,740 $ 728,531 $ 1,322,640 $ 1,413,593
Cost of goods sold 438,959 478,264 876,469 936,990
Gross profit 225,781 250,267 446,171 476,603
Selling, general & administrative expenses 127,755 137,156 257,646 283,071
Rationalization and asset impairment charges 1,239 836 1,239 819
Operating income 96,787 112,275 187,286 192,713
Other income (expense):        
Interest income 738 924 1,331 1,838
Equity earnings in affiliates 979 1,575 1,828 3,136
Other income 317 1,078 2,927 2,161
Interest expense (4,387) (986) (6,231) (2,556)
Total other income (expense) (2,353) 2,591 (145) 4,579
Income before income taxes 94,434 114,866 187,141 197,292
Income taxes 23,558 37,577 47,947 63,579
Net income including non-controlling interests 70,876 77,289 139,194 133,713
Non-controlling interests in subsidiaries’ loss (22) (43) (58) (72)
Net income $ 70,898 $ 77,332 $ 139,252 $ 133,785
Basic earnings per share (in dollars per share) $ 0.95 $ 0.97 $ 1.84 $ 1.67
Diluted earnings per share (in dollars per share) 0.94 0.96 1.82 1.65
Cash dividends declared per share (in dollars per share) $ 0.29 $ 0.23 $ 0.58 $ 0.46