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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Net sales $ 645,166 $ 715,777 $ 1,967,806 $ 2,129,370
Cost of goods sold 446,272 474,168 1,322,741 1,411,158
Gross profit 198,894 241,609 645,065 718,212
Selling, general & administrative expenses 128,299 136,424 385,945 419,495
Rationalization and asset impairment charges 18,285 29,068 19,524 29,887
Pension settlement charges 136,331 0 136,331 0
Operating income (loss) (84,021) 76,117 103,265 268,830
Other income (expense):        
Interest income 692 627 2,023 2,465
Equity earnings in affiliates 310 1,172 2,138 4,308
Other income 296 1,043 3,223 3,204
Interest expense (5,803) (1,174) (12,034) (3,730)
Total other income (expense) (4,505) 1,668 (4,650) 6,247
Income (loss) before income taxes (88,526) 77,785 98,615 275,077
Income taxes (28,045) 32,953 19,902 96,532
Net income (loss) including non-controlling interests (60,481) 44,832 78,713 178,545
Non-controlling interests in subsidiaries’ loss (15) (857) (73) (929)
Net income (loss) $ (60,466) $ 45,689 $ 78,786 $ 179,474
Basic earnings (loss) per share (in dollars per share) $ (0.82) $ 0.58 $ 1.05 $ 2.25
Diluted earnings (loss) per share (in dollars per share) (0.82) 0.57 1.04 2.22
Cash dividends declared per share (in dollars per share) $ 0.29 $ 0.23 $ 0.87 $ 0.69