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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CONSOLIDATED STATEMENTS OF INCOME      
Net sales (Note 2) $ 4,191,636 $ 3,761,211 $ 3,234,180
Cost of goods sold 2,726,191 2,480,451 2,165,575
Gross profit 1,465,445 1,280,760 1,068,605
Selling, general & administrative expenses 758,910 656,636 597,109
Rationalization and asset impairment charges (Note 7) (11,314) 11,788 9,827
Operating income 717,849 612,336 461,669
Interest expense, net 44,371 29,500 22,214
Other income (expense) (Note 12) 13,388 9,991 (114,457)
Income before income taxes 686,866 592,827 324,998
Income taxes (Note 13) 141,618 120,603 48,418
Net income $ 545,248 $ 472,224 $ 276,580
Basic earnings per share (Note 3) $ 9.50 $ 8.14 $ 4.66
Diluted earnings per share (Note 3) 9.37 8.04 4.60
Cash dividends declared per share $ 2.63 $ 2.32 $ 2.09