XML 20 R3.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Sales $ 37,124,422 $ 34,477,018 $ 28,673,363
Cost of sales 32,287,797 30,274,653 25,482,233
Gross profit 4,836,625 4,202,365 3,191,130
Operating expenses:      
Selling, general, and administrative expenses 2,567,008 2,435,030 2,087,050
Depreciation and amortization 187,382 195,120 189,058
Restructuring, integration, and other charges 13,741 15,393 20,511
Total operating expenses 2,768,131 2,645,543 2,296,619
Operating income 2,068,494 1,556,822 894,511
Equity in earnings (losses) of affiliated companies 7,664 3,508 (531)
Gain (loss) on investments, net (2,857) 12,951 5,348
Employee benefit plan expense, net (3,503) (5,180) (2,859)
Interest and other financing expense, net (185,648) (131,727) (137,210)
Income before income taxes 1,884,150 1,436,374 759,259
Provision for income taxes 448,992 325,906 172,795
Consolidated net income 1,435,158 1,110,468 586,464
Noncontrolling interests 8,274 2,271 2,026
Net income attributable to shareholders $ 1,426,884 $ 1,108,197 $ 584,438
Net income per share:      
Basic $ 22.01 $ 15.29 $ 7.49
Diluted [1] $ 21.80 $ 15.10 $ 7.43
Weighted-average shares outstanding:      
Basic 64,838 72,472 77,992
Diluted 65,453 73,385 78,635
[1] Stock-based compensation awards for the issuance of 52.6 thousand shares and 1.1 million shares for the years ended December 31, 2022 and 2020, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive. There were no shares excluded from the computation of net income per share on a diluted basis in 2021.