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Statements of Consolidated Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Net sales $ 4,731,470 $ 4,507,020 $ 13,470,272 $ 11,004,224
Cost of goods sold 2,721,066 2,605,193 7,734,393 6,024,727
Gross profit $ 2,010,404 $ 1,901,827 $ 5,735,879 $ 4,979,497
Percent to net sales 42.50% 42.20% 42.60% 45.30%
Selling, general and administrative expenses $ 1,273,066 $ 1,307,402 $ 3,795,492 $ 3,472,202
Percent to net sales 26.90% 29.00% 28.20% 31.60%
Other general expense - net $ 11,526 $ 4,109 $ 41,495 $ 6,160
Amortization 80,077 83,711 239,019 118,799
Interest expense 92,281 91,593 277,335 174,017
Interest and net investment income (555) (2,448) (2,732) (6,819)
California litigation expense 136,333   136,333  
Other expense (income) - net 1,723 (10,262) (8,688) (28,192)
Income from continuing operations before income taxes 415,953 427,722 1,257,625 1,243,330
Income taxes 61,926 111,116 249,867 326,921
Net income from continuing operations 354,027 316,606 1,007,758 916,409
Loss from discontinued operations (see Note 4)
Income taxes 41,540
Net loss from discontinued operations 0 0 0 (41,540)
Net income $ 354,027 $ 316,606 $ 1,007,758 $ 874,869
Basic net income per common share        
Continuing operations (in dollars per share) $ 3.80 $ 3.40 $ 10.82 $ 9.88
Discontinued operations (in dollars per share) 0.00 0.00 0.00 (0.45)
Net income per common share (in dollars per share) 3.80 3.40 10.82 9.43
Diluted net income per common share        
Continuing operations (in dollars per share) 3.72 3.33 10.59 9.67
Discontinued operations (in dollars per share) 0.00 0.00 0.00 (0.44)
Net income per common share (in dollars per share) $ 3.72 $ 3.33 $ 10.59 $ 9.23
Average shares outstanding - basic (in shares) 93,099,714 92,988,118 93,121,900 92,793,275
Average shares and equivalents outstanding - diluted (in shares) 95,135,257 95,207,884 95,170,768 94,817,669