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CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
Net sales (Note 2) | $ 759,174 | $ 757,696
Cost of goods sold | 500,753 | 501,142
Gross profit | 258,421 | 256,554
Selling, general & administrative expenses | 160,408 | 161,191
Restructuring, Settlement and Impairment Provisions | 3,535 | 10,175
Operating income | 94,478 | 85,188
Interest Income (Expense), Net | (5,323) | (4,441)
Other income (expense) (Note 14) | 3,763 | 3,451
Income before income taxes | 92,918 | 84,198
Income taxes (Note 15) | 21,452 | 23,378
Net income including non-controlling interests | 71,466 | 60,820
Non-controlling interests in subsidiaries’ earnings (loss) | (14) | (4)
Net income | $ 71,480 | $ 60,824
Basic earnings (loss) per share (in dollars per share) | $ 1.13 | $ 0.93
Diluted earnings (loss) per share (in dollars per share) | 1.12 | 0.92
Cash dividends declared per share (in dollars per share) | $ 0.47 | $ 0.39

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