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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net sales $ 2,535,791 $ 2,813,324 $ 2,852,671
Cost of goods sold 1,694,647 1,864,027 1,910,017
Gross profit 841,144 949,297 942,654
Selling, general & administrative expenses 496,748 545,497 527,206
Rationalization and asset impairment charges (gains) 19,958 30,053 8,463
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements (142,738) 0 0
Operating income 181,700 373,747 406,985
Other income (expense):      
Interest income 2,714 3,093 3,320
Equity earnings in affiliates 3,015 5,412 4,806
Other income 4,182 3,995 4,194
Interest expense (21,824) (10,434) (2,864)
Total other income (expense) (11,913) 2,066 9,456
Income before income taxes 169,787 375,813 416,441
Income taxes 42,375 121,933 124,754
Net income including non-controlling interests 127,412 253,880 291,687
Non-controlling interests in subsidiaries' (loss) earnings (66) (806) (2,093)
Net income $ 127,478 $ 254,686 $ 293,780
Basic earnings per share (in dollars per share) $ 1.72 $ 3.22 $ 3.58
Diluted earnings per share (in dollars per share) 1.70 3.18 3.54
Cash dividends declared per share (in dollars per share) $ 1.19 $ 0.98 $ 0.83