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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Sales        
Sales $ 1,834,441 $ 2,154,647 $ 5,193,989 $ 6,759,001
Costs and expenses        
Materials, labor, and other operating expenses (excluding depreciation) 1,442,178 1,655,979 4,099,249 5,183,823
Depreciation and amortization 31,474 28,374 93,382 69,611
Selling and distribution expenses 147,714 142,176 415,707 423,106
General and administrative expenses 27,583 27,622 84,193 81,375
Other (income) expense, net (141) 1,126 (1,752) (987)
Total costs and expenses 1,648,808 1,855,277 4,690,779 5,756,928
Income from operations 185,633 299,370 503,210 1,002,073
Foreign currency exchange loss (602) (1,674) (355) (2,041)
Pension expense (excluding service costs) (40) (41) (122) (253)
Interest expense (6,351) (6,398) (19,051) (18,969)
Interest income 13,760 3,238 34,964 4,688
Change in fair value of interest rate swaps (327) 1,134 (798) 3,594
Total nonoperating income (expense) 6,440 (3,741) 14,638 (12,981)
Income before income taxes 192,073 295,629 517,848 989,092
Income tax provision (49,005) (76,042) (131,727) (248,794)
Net income $ 143,068 $ 219,587 $ 386,121 $ 740,298
Weighted average common shares outstanding:        
Basic (in shares) 39,675 39,544 39,648 39,521
Diluted (in shares) 39,983 39,776 39,849 39,762
Net income per common share:        
Basic (in dollars per share) $ 3.61 $ 5.55 $ 9.74 $ 18.73
Diluted (in dollars per share) 3.58 5.52 9.69 18.62
Dividends declared per common share (in dollars per share) $ 0.20 $ 0.12 $ 3.50 $ 2.86