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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net sales (Note 2) $ 737,099 $ 669,491 $ 2,284,847 $ 1,877,246
Cost of goods sold 485,547 451,610 1,506,625 1,240,391
Gross profit 251,552 217,881 778,222 636,855
Selling, general & administrative expenses 148,129 133,826 473,260 387,820
Restructuring, Settlement and Impairment Provisions 2,636 0 24,353 0
Bargain purchase gain (Note 4) 0 51,585 0 51,585
Operating income 100,787 135,640 280,609 300,620
Interest Income (Expense), Net (3,969) (4,595) (13,222) (14,984)
Other income (expense) (Note 13) (1,074) (403) 6,818 6,872
Income before income taxes 95,744 130,642 274,205 292,508
Income taxes (Note 14) 25,209 24,531 73,991 69,218
Net income including non-controlling interests 70,535 106,111 200,214 223,290
Non-controlling interests in subsidiaries’ earnings (loss) (4) (15) (13) (32)
Net income $ 70,539 $ 106,126 $ 200,227 $ 223,322
Basic earnings (loss) per share (in dollars per share) $ 1.09 $ 1.61 $ 3.07 $ 3.40
Diluted earnings (loss) per share (in dollars per share) 1.07 1.59 3.03 3.35
Cash dividends declared per share (in dollars per share) $ 0.39 $ 0.35 $ 1.17 $ 1.05