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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)        
Net sales (Note 2) $ 1,033,214 $ 935,240 $ 3,133,122 $ 2,830,277
Cost of goods sold 667,584 625,722 2,038,707 1,857,501
Gross profit 365,630 309,518 1,094,415 972,776
Selling, general & administrative expenses 187,115 159,045 569,979 492,523
Rationalization and asset impairment charges (Note 6) 7,074 8,364 10,618 9,405
Operating income 171,441 142,109 513,818 470,848
Interest expense, net 10,809 8,210 35,708 20,867
Other income (Note 11) 801 3,588 11,727 7,088
Income before income taxes 161,433 137,487 489,837 457,069
Income taxes (Note 12) 32,090 28,262 101,232 93,991
Net income $ 129,343 $ 109,225 $ 388,605 $ 363,078
Basic earnings per share (Note 3) $ 2.26 $ 1.89 $ 6.76 $ 6.24
Diluted earnings per share (Note 3) 2.22 1.87 6.67 6.17
Cash dividends declared per share $ 0.64 $ 0.56 $ 1.92 $ 1.68