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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Sales        
Sales $ 1,815,219 $ 2,278,072 $ 3,359,548 $ 4,604,354
Costs and expenses        
Materials, labor, and other operating expenses (excluding depreciation) 1,426,436 1,797,948 2,657,071 3,527,844
Depreciation and amortization 30,722 20,694 61,908 41,237
Selling and distribution expenses 139,205 134,279 267,993 280,930
General and administrative expenses 30,147 27,701 56,610 53,753
Other (income) expense, net (1,266) 375 (1,611) (2,113)
Total costs and expenses 1,625,244 1,980,997 3,041,971 3,901,651
Income from operations 189,975 297,075 317,577 702,703
Foreign currency exchange gain (loss) 320 (499) 247 (367)
Pension expense (excluding service costs) (41) (41) (82) (212)
Interest expense (6,339) (6,317) (12,700) (12,571)
Interest income 11,519 1,385 21,204 1,450
Change in fair value of interest rate swaps 333 394 (471) 2,460
Total nonoperating income (expense) 5,792 (5,078) 8,198 (9,240)
Income before income taxes 195,767 291,997 325,775 693,463
Income tax provision (49,447) (73,886) (82,722) (172,752)
Net income $ 146,320 $ 218,111 $ 243,053 $ 520,711
Weighted average common shares outstanding:        
Basic (in shares) 39,675 39,544 39,634 39,509
Diluted (in shares) 39,834 39,763 39,818 39,762
Net income per common share:        
Basic (in dollars per share) $ 3.69 $ 5.52 $ 6.13 $ 13.18
Diluted (in dollars per share) 3.67 5.49 6.10 13.10
Dividends declared per common share $ 3.15 $ 2.62 $ 3.30 $ 2.74