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CONSOLIDATED STATEMENTS OF Earnings and Retained Earnings - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
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Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
CONSOLIDATED STATEMENTS OF Earnings and Retained Earnings |  |  |
Net product sales | $ 515,674 | $ 517,373 | $ 536,692
Rental and royalty revenue | 3,615 | 3,727 | 3,420
Total revenue | 519,289 | 521,100 | 540,112
Product cost of goods sold | 325,924 | 320,290 | 340,090
Rental and royalty cost | 972 | 1,019 | 889
Total costs | 326,896 | 321,309 | 340,979
Product gross margin | 189,750 | 197,083 | 196,602
Rental and royalty gross margin | 2,643 | 2,708 | 2,531
Total gross margin | 192,393 | 199,791 | 199,133
Selling, marketing and administrative expenses | 120,977 | 107,377 | 108,051
Earnings from operations | 71,416 | 92,414 | 91,082
Other income, net | 13,145 | 5,498 | 1,496
Earnings before income taxes | 84,561 | 97,912 | 92,578
Provision for income taxes | 3,907 | 30,593 | 26,451
Net earnings | 80,654 | 67,319 | 66,127
Less: Net earnings (loss) attributable to noncontrolling interests | (210) | (191) | 38
Net earnings attributable to Tootsie Roll Industries, Inc. | $ 80,864 | $ 67,510 | $ 66,089
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) | $ 1.28 | $ 1.05 | $ 1.02
Average number of shares outstanding (in shares) | 63,179 | 64,086 | 65,103
Retained earnings at beginning of period | $ 43,833 | $ 52,349 | $ 64,927
Net earnings attributable to Tootsie Roll Industries, Inc. | 80,864 | 67,510 | 66,089
Cash dividends | (22,548) | (22,209) | (21,308)
Stock dividends | (44,924) | (53,817) | (57,359)
Retained earnings at end of period | $ 57,225 | $ 43,833 | $ 52,349

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