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v3.3.1.900

Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
Net sales | $ 468,540 | $ 499,261 | $ 563,579
Cost of sales | 179,069 | 212,224 | 234,800
Gross margin | 289,471 | 287,037 | 328,779
Selling, general, and administrative expenses | 228,268 | 233,634 | 250,025
Income from operations | 61,203 | 53,403 | 78,754
Other expenses (income): |  |  |
Interest expense | 2,826 | 1,478 | 1,380
(Gain) loss on foreign currency | 876 | (902) | 1,168
Interest and dividend income | (2,995) | (3,888) | (4,440)
Other expenses (income) | 707 | (3,312) | (1,892)
Income before income taxes | 60,496 | 56,715 | 80,646
Income taxes | 21,527 | 19,370 | 29,680
Net income | 38,969 | 37,345 | 50,966
Less: Net income attributable to the noncontrolling interest | 8,532 | 7,909 | 11,755
Net income attributable to Inter Parfums, Inc. | $ 30,437 | $ 29,436 | $ 39,211
Net income attributable to Inter Parfums, Inc. common shareholders: |  |  |
Basic | $ 0.98 | $ 0.95 | $ 1.27
Diluted | $ 0.98 | $ 0.95 | $ 1.27
Weighted average number of shares outstanding: |  |  |
Basic | 30,996,137 | 30,931,308 | 30,763,955
Diluted | 31,100,215 | 31,060,326 | 30,953,882
Dividends declared per share | $ 0.52 | $ 0.48 | $ 0.96

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