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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Net sales $ 4,559,532 $ 4,736,833
Cost of goods sold 3,058,741 3,228,665
Gross profit 1,500,791 1,508,168
Operating expenses:    
Selling, administrative and other expenses 1,232,743 1,203,905
Depreciation and amortization 70,443 61,977
Provision for doubtful accounts 7,300 3,969
Business Exit Costs 1,439 0
Total operating expenses 1,311,925 1,269,851
Non-operating (income) expenses:    
Interest expense 20,969 23,883
Other (11,048) 2,922
Total non-operating (income) expenses 9,921 26,805
Income before income taxes 178,945 211,512
Income taxes 42,410 51,262
Net income $ 136,535 $ 160,250
Basic net income per common share (usd per share) $ 0.94 $ 1.10
Diluted net income per common share (usd per share) 0.94 1.09
Dividends declared per common share (usd per share) $ 0.7900 $ 0.7625
Weighted average common shares outstanding (in shares) 145,052 145,981
Dilutive effect of stock options and non-vested restricted stock awards (in shares) 571 713
Weighted average common shares outstanding - assuming dilution (in shares) 145,623 146,694
Other comprehensive income (loss), net of income taxes:    
Foreign currency translation adjustments, net of income taxes in 2020 and 2019 — $15,560 and $7,710 respectively $ (182,613) $ 47,964
Cash flow hedge adjustments, net of income taxes in 2020 and 2019 — $6,604 and $1,915, respectively (17,856) (5,179)
Pension and postretirement benefit adjustments, net of income taxes in 2020 and 2019 — $3,017 and $1,788, respectively 8,448 4,832
Other comprehensive income (loss), net of income taxes (192,021) 47,617
Comprehensive income (loss) $ (55,486) $ 207,867