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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales (Note 2) $ 590,727 $ 777,008 $ 1,292,718 $ 1,536,182
Cost of goods sold 401,349 507,127 866,018 1,007,880
Gross profit 189,378 269,881 426,700 528,302
Selling, general & administrative expenses 126,376 163,388 276,103 323,796
Rationalization and asset impairment charges (Note 6) 23,238 1,307 29,759 4,842
Operating income 39,764 105,186 120,838 199,664
Interest Income (Expense), Net (5,881) (5,898) (11,339) (11,221)
Other income (expense) (Note 14) (203) 4,196 106 7,959
Income before income taxes 33,680 103,484 109,605 196,402
Income taxes (Note 15) 6,667 18,040 27,037 39,492
Net income including non-controlling interests 27,013 85,444 82,568 156,910
Non-controlling interests in subsidiaries’ income (loss) 17 (8) 10 (22)
Net income $ 26,996 $ 85,452 $ 82,558 $ 156,932
Basic earnings per share (Note 3) $ 0.45 $ 1.37 $ 1.38 $ 2.50
Diluted earnings per share (Note 3) 0.45 1.36 1.37 2.47
Cash dividends declared per share $ 0.49 $ 0.47 $ 0.98 $ 0.94