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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net Sales        
Sales $ 704,396 $ 609,357 $ 1,335,256 $ 1,168,818
Cost of sales        
Total cost of sales 444,823 380,843 854,275 738,902
Gross profit 259,573 228,514 480,981 429,916
Research and development expenses 20,210 23,868 42,234 44,417
Selling expenses 34,273 30,407 66,698 58,499
General and administrative expenses 92,315 76,134 180,659 163,734
Loss on divestiture 0 0 0 4,651
Operating income 112,775 98,105 191,390 158,615
Interest expense (14,992) (9,788) (27,936) (19,318)
Other income, net 7,954 4,555 15,721 7,552
Earnings before income taxes 105,737 92,872 179,175 146,849
Provision for income taxes (24,738) (22,000) (41,330) (35,292)
Net earnings $ 80,999 $ 70,872 $ 137,845 $ 111,557
Basic earnings per share        
Basic earnings per share (usd per share) $ 2.11 $ 1.84 $ 3.60 $ 2.90
Diluted earnings per share        
Diluted earnings per share (usd per share) 2.10 1.83 3.58 2.89
Dividends per share $ 0.20 $ 0.19 $ 0.39 $ 0.37
Weighted average shares outstanding:        
Basic (shares) 38,329 38,429 38,309 38,438
Diluted (shares) 38,555 38,654 38,528 38,657
Retained Earnings        
Cost of sales        
Net earnings $ 80,999 $ 70,872 $ 137,845 $ 111,557
Product [Member]        
Net Sales        
Sales 583,036 505,416 1,107,917 958,837
Cost of sales        
Cost of Goods and Services Sold 369,549 316,389 713,306 610,916
Service [Member]        
Net Sales        
Sales 121,360 103,941 227,339 209,981
Cost of sales        
Cost of Goods and Services Sold $ 75,274 $ 64,454 $ 140,969 $ 127,986