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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Net sales $ 4,822,065 $ 4,100,178 $ 9,408,359 $ 8,005,819
Cost of goods sold 3,300,479 2,860,466 6,450,966 5,610,386
Gross profit 1,521,586 1,239,712 2,957,393 2,395,433
Operating expenses:        
Selling, administrative and other expenses 1,148,217 906,943 2,281,988 1,784,299
Depreciation and amortization 58,451 39,232 116,814 77,364
Provision for doubtful accounts 3,666 2,546 6,367 5,674
Total operating expenses 1,210,334 948,721 2,405,169 1,867,337
Non-operating expenses (income):        
Interest expense 26,476 7,446 50,585 14,225
Other (15,495) (13,592) (27,951) (27,041)
Total non-operating expenses (income) 10,981 (6,146) 22,634 (12,816)
Income before income taxes 300,271 297,137 529,590 540,912
Income taxes 73,299 107,165 126,042 190,780
Net income $ 226,972 $ 189,972 $ 403,548 $ 350,132
Basic net income per common share (usd per share) $ 1.55 $ 1.29 $ 2.75 $ 2.37
Diluted net income per common share (usd per share) 1.54 1.29 2.74 2.36
Dividends declared per common share (usd per share) $ 0.72 $ 0.6750 $ 1.44 $ 1.350
Weighted average common shares outstanding (in shares) 146,748 147,079 146,738 147,613
Dilutive effect of stock options and non-vested restricted stock awards (in shares) 512 571 548 598
Weighted average common shares outstanding - assuming dilution (in shares) 147,260 147,650 147,286 148,211
Other comprehensive income (loss), net of income taxes:        
Foreign currency translation adjustment $ (163,993) $ 23,157 $ (121,113) $ 80,177
Net investment hedge, net of income taxes in 2018 — ($5,935) 32,755 0 16,045 0
Pension and postretirement benefit adjustments, net of income taxes in 2018 — $2,642 and $5,290; 2017 — $3,568 and $7,139 respectively 7,145 5,723 14,309 11,455
Other comprehensive (loss) income, net of income taxes (124,093) 28,880 (90,759) 91,632
Comprehensive income $ 102,879 $ 218,852 $ 312,789 $ 441,764