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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net sales $ 2,624,431 $ 2,274,614 $ 2,535,791
Cost of goods sold 1,744,105 1,485,316 1,694,647
Gross profit 880,326 789,298 841,144
Selling, general & administrative expenses 537,525 466,676 496,748
Rationalization and asset impairment charges (Notes 4 and 6) 6,590 0 19,958
Pension settlement (charges) (Note 11) (8,150) 0 (142,738)
Loss on deconsolidation of Venezuelan subsidiary (Note 1) 0 34,348 0
Bargain purchase gain (Note 3) 49,650 0 0
Operating income 377,711 288,274 181,700
Other income (expense):      
Interest income 4,788 2,092 2,714
Equity earnings in affiliates 2,742 2,928 3,015
Other income 5,215 3,173 4,182
Interest expense (24,220) (19,079) (21,824)
Total other income (expense) (11,475) (10,886) (11,913)
Income before income taxes 366,236 277,388 169,787
Income taxes (Note 12) 118,761 79,015 42,375
Net income including non-controlling interests 247,475 198,373 127,412
Non-controlling interests in subsidiaries' loss (28) (26) (66)
Net income $ 247,503 $ 198,399 $ 127,478
Basic earnings per share $ 3.76 $ 2.94 $ 1.72
Diluted earnings per share 3.71 2.91 1.70
Cash dividends declared per share $ 1.44 $ 1.31 $ 1.19