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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