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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CONSOLIDATED STATEMENTS OF INCOME      
Net sales (Note 2) $ 3,761,211 $ 3,234,180 $ 2,655,400
Cost of goods sold 2,480,451 2,165,575 1,784,059
Gross profit 1,280,760 1,068,605 871,341
Selling, general & administrative expenses 656,636 597,109 543,802
Rationalization and asset impairment charges (Note 7) 11,788 9,827 45,468
Operating income 612,336 461,669 282,071
Interest expense, net 29,500 22,214 21,973
Other income (expense) (Note 12) 9,991 (114,457) 3,942
Income before income taxes 592,827 324,998 264,040
Income taxes (Note 13) 120,603 48,418 57,896
Net income including non-controlling interests 472,224 276,580 206,144
Non-controlling interests in subsidiaries' income 0 114 29
Net income $ 472,224 $ 276,466 $ 206,115
Basic earnings per share (Note 3) $ 8.14 $ 4.66 $ 3.46
Diluted earnings per share (Note 3) 8.04 4.60 3.42
Cash dividends declared per share $ 2.32 $ 2.09 $ 1.98