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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
CONSOLIDATED STATEMENTS OF INCOME        
Net sales (Note 2) $ 935,240 $ 806,454 $ 2,830,277 $ 2,389,929
Cost of goods sold 625,722 538,282 1,857,501 1,593,981
Gross profit 309,518 268,172 972,776 795,948
Selling, general & administrative expenses 159,045 149,118 492,523 446,351
Rationalization and asset impairment charges (Note 6) 8,364 3,484 9,405 8,277
Operating income 142,109 115,570 470,848 341,320
Interest expense, net 8,210 5,714 20,867 16,736
Other income (expense) (Note 14) 3,588 (71,441) 7,088 (71,155)
Income before income taxes 137,487 38,415 457,069 253,429
Income taxes (Note 15) 28,262 6,658 93,991 51,259
Net income including non-controlling interests 109,225 31,757 363,078 202,170
Non-controlling interests in subsidiaries' income (loss) 0 0 0 131
Net income $ 109,225 $ 31,757 $ 363,078 $ 202,039
Basic earnings per share (Note 3) $ 1.89 $ 0.54 $ 6.24 $ 3.40
Diluted earnings per share (Note 3) 1.87 0.53 6.17 3.36
Cash dividends declared per share $ 0.56 $ 0.51 $ 1.68 $ 1.53