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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CONSOLIDATED STATEMENTS OF INCOME    
Net sales (Note 2) $ 925,448 $ 757,021
Cost of goods sold 595,671 503,254
Gross profit 329,777 253,767
Selling, general & administrative expenses 166,686 145,676
Rationalization and asset impairment charges (Note 6) 1,885 4,163
Operating income 161,206 103,928
Interest expense, net 6,198 5,359
Other income (expense) (Note 14) 4,634 (1,416)
Income before income taxes 159,642 97,153
Income taxes (Note 15) 33,611 23,020
Net income including non-controlling interests 126,031 74,133
Non-controlling interests in subsidiaries' income (loss) 1 (44)
Net income $ 126,030 $ 74,177
Basic earnings per share (Note 3) $ 2.15 $ 1.24
Diluted earnings per share (Note 3) 2.13 1.23
Cash dividends declared per share $ 0.56 $ 0.51