XML 14 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Net sales $ 669,491 $ 567,646 $ 1,877,246 $ 1,710,786
Cost of goods sold 449,975 367,834 1,236,386 1,118,945
Gross profit 219,516 199,812 640,860 591,841
Selling, general & administrative expenses 132,748 117,983 384,964 352,290
Pension settlement charges (Note 11) (5,283) 0 (5,283) 0
Loss on deconsolidation of Venezuelan subsidiary (Note 1) 0 0 0 34,348
Bargain purchase gain (Note 3) 51,585 0 51,585 0
Operating income 133,070 81,829 302,198 205,203
Other income (expense):        
Interest income 1,327 360 3,349 1,225
Equity earnings in affiliates 766 619 2,001 2,084
Other income 1,401 1,303 3,293 2,552
Interest expense (5,922) (3,815) (18,333) (11,828)
Total other income (expense) (2,428) (1,533) (9,690) (5,967)
Income before income taxes 130,642 80,296 292,508 199,236
Income taxes (Note 12) 24,531 20,257 69,218 54,264
Net income including non-controlling interests 106,111 60,039 223,290 144,972
Non-controlling interests in subsidiaries’ loss (15) (10) (32) (32)
Net income $ 106,126 $ 60,049 $ 223,322 $ 145,004
Basic earnings (loss) per share (in dollars per share) $ 1.61 $ 0.90 $ 3.40 $ 2.13
Diluted earnings (loss) per share (in dollars per share) 1.59 0.89 3.35 2.11
Cash dividends declared per share (in dollars per share) $ 0.35 $ 0.32 $ 1.05 $ 0.96