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CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018
Net sales (Note 2) | $ 730,783 | $ 737,099 | $ 2,266,965 | $ 2,284,847
Cost of goods sold | 492,432 | 485,547 | 1,500,312 | 1,506,625
Gross profit | 238,351 | 251,552 | 766,653 | 778,222
Selling, general & administrative expenses | 148,312 | 148,129 | 472,108 | 473,260
Restructuring, Settlement and Impairment Provisions | 1,495 | 2,636 | 6,337 | 24,353
Operating income | 88,544 | 100,787 | 288,208 | 280,609
Interest Income (Expense), Net | (6,400) | (3,969) | (17,621) | (13,222)
Other income (expense) (Note 14) | 9,653 | (1,074) | 17,612 | 6,818
Income before income taxes | 91,797 | 95,744 | 288,199 | 274,205
Income taxes (Note 15) | 19,340 | 25,209 | 58,832 | 73,991
Net income including non-controlling interests | 72,457 | 70,535 | 229,367 | 200,214
Non-controlling interests in subsidiaries’ earnings (loss) | (4) | (4) | (26) | (13)
Net income | $ 72,461 | $ 70,539 | $ 229,393 | $ 200,227
Basic earnings (loss) per share (in dollars per share) | $ 1.18 | $ 1.09 | $ 3.68 | $ 3.07
Diluted earnings (loss) per share (in dollars per share) | 1.17 | 1.07 | 3.64 | 3.03
Common Stock, Dividends, Per Share, Declared | $ 0.47 | $ 0.39 | $ 1.41 | $ 1.17

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