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Statements of Consolidated Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Net sales $ 4,867,650 $ 4,731,470 $ 13,786,371 $ 13,470,272
Cost of goods sold 2,642,096 2,721,066 7,644,305 7,734,393
Gross profit $ 2,225,554 $ 2,010,404 $ 6,142,066 $ 5,735,879
Percent to net sales 45.70% 42.50% 44.60% 42.60%
Selling, general and administrative expenses $ 1,345,171 $ 1,273,066 $ 3,920,476 $ 3,795,492
Percent to net sales 27.60% 26.90% 28.40% 28.20%
Other general expense - net $ 12,032 $ 11,526 $ 18,696 $ 41,495
Amortization 77,548 80,077 234,400 239,019
Interest expense 85,282 92,281 265,474 277,335
Interest and net investment income (637) (555) (1,588) (2,732)
California litigation expense (34,667) 136,333 (34,667) 136,333
Other expense (income) - net 30,992 1,723 54,887 (8,688)
Income before income taxes 709,833 415,953 1,684,388 1,257,625
Income taxes 133,395 61,926 391,710 249,867
Net income $ 576,438 $ 354,027 $ 1,292,678 $ 1,007,758
Net income per share - basic (in dollars per share) $ 6.28 $ 3.80 $ 14.07 $ 10.82
Net income per share - diluted (in dollars per share) $ 6.16 $ 3.72 $ 13.82 $ 10.59
Average shares outstanding - basic (in shares) 91,823,573 93,099,714 91,850,565 93,121,900
Average shares and equivalents outstanding - diluted (in shares) 93,604,260 95,135,257 93,510,104 95,170,768