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CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017
Net sales (Note 2) | $ 737,099 | $ 669,491 | $ 2,284,847 | $ 1,877,246
Cost of goods sold | 485,547 | 451,610 | 1,506,625 | 1,240,391
Gross profit | 251,552 | 217,881 | 778,222 | 636,855
Selling, general & administrative expenses | 148,129 | 133,826 | 473,260 | 387,820
Restructuring, Settlement and Impairment Provisions | 2,636 | 0 | 24,353 | 0
Bargain purchase gain (Note 4) | 0 | 51,585 | 0 | 51,585
Operating income | 100,787 | 135,640 | 280,609 | 300,620
Interest Income (Expense), Net | (3,969) | (4,595) | (13,222) | (14,984)
Other income (expense) (Note 13) | (1,074) | (403) | 6,818 | 6,872
Income before income taxes | 95,744 | 130,642 | 274,205 | 292,508
Income taxes (Note 14) | 25,209 | 24,531 | 73,991 | 69,218
Net income including non-controlling interests | 70,535 | 106,111 | 200,214 | 223,290
Non-controlling interests in subsidiaries’ earnings (loss) | (4) | (15) | (13) | (32)
Net income | $ 70,539 | $ 106,126 | $ 200,227 | $ 223,322
Basic earnings (loss) per share (in dollars per share) | $ 1.09 | $ 1.61 | $ 3.07 | $ 3.40
Diluted earnings (loss) per share (in dollars per share) | 1.07 | 1.59 | 3.03 | 3.35
Cash dividends declared per share (in dollars per share) | $ 0.39 | $ 0.35 | $ 1.17 | $ 1.05

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