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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net sales $ 1,579,040 $ 1,715,081 $ 1,330,696
Costs and expenses      
Cost of materials sold (excludes items shown separately below) 1,280,110 1,372,954 1,055,212
Warehouse and processing 99,457 97,565 87,425
Administrative and general 76,863 81,107 69,659
Distribution 48,159 50,347 41,789
Selling 28,839 29,020 26,285
Occupancy 9,972 9,428 8,862
Depreciation 17,686 16,645 16,589
Amortization 1,344 963 889
Total costs and expenses 1,562,430 1,658,029 1,306,710
Operating income 16,610 [1] 57,052 [2] 23,986
Other loss, net (32) (307) (118)
Income before interest and income taxes 16,578 56,745 23,868
Interest and other expense on debt 11,289 10,681 7,518
Income before income taxes 5,289 46,064 16,350
Income tax provision (benefit) 1,433 12,305 (2,613)
Net income 3,856 33,759 18,963
Loss on cash flow hedges (3,041)
Tax effect of hedges 760
Total comprehensive income $ 1,575 $ 33,759 $ 18,963
Net income per share - basic (in dollars per share) $ 0.34 $ 2.95 $ 1.67
Weighted average shares outstanding - basic (in shares) 11,509 11,432 11,381
Net income per share - diluted (in dollars per share) $ 0.34 $ 2.95 $ 1.67
Weighted average shares outstanding - diluted (in shares) 11,509 11,440 11,381
Dividends declared per share of common stock (in dollars per share) $ 0.08 $ 0.08 $ 0.08
[1] Operating income (loss) in 2019 includes $3,669 of LIFO income related to the Company's tubular and pipe products segment.
[2] Operating income (loss) in 2018 includes $8,408 of LIFO expense related to the Company's tubular and pipe products segment.