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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]        
Net sales [1] $ 370,310 $ 343,609 $ 988,939 $ 845,850
Cost of sales 265,105 235,861 700,678 603,349
Gross profit 105,205 107,748 288,261 242,501
Selling, general and administrative expenses 66,509 59,497 183,316 163,698
Restructuring and integration expenses 166 250 166 464
Other income (expense), net 8 (37) 8 (31)
Operating income 38,538 47,964 104,787 78,308
Other non-operating income, net 780 514 2,247 592
Interest expense 652 462 1,356 2,107
Earnings from continuing operations before taxes 38,666 48,016 105,678 76,793
Provision for income taxes 9,481 11,804 26,315 19,118
Earnings from continuing operations 29,185 36,212 79,363 57,675
Loss from discontinued operations, net of income taxes (5,122) (7,587) (7,139) (9,456)
Net earnings 24,063 28,625 72,224 48,219
Net earnings attributable to noncontrolling interest 13 0 32 0
Net earnings attributable to SMP [2] 24,050 28,625 72,192 48,219
Net earnings attributable to SMP        
Earnings from continuing operations 29,172 36,212 79,331 57,675
Discontinued operations (5,122) (7,587) (7,139) (9,456)
Net earnings attributable to SMP [2] $ 24,050 $ 28,625 $ 72,192 $ 48,219
Net earnings per common share - Basic:        
Earnings from continuing operations (in dollars per share) $ 1.32 $ 1.62 $ 3.57 $ 2.58
Discontinued operations (in dollars per share) (0.23) (0.34) (0.32) (0.42)
Net earnings per common share attributable to SMP 1.09 1.28 3.25 2.16
Net earnings per common share - Diluted:        
Earnings from continuing operations (in dollars per share) 1.29 1.59 3.50 2.53
Discontinued operations (in dollars per share) (0.22) (0.33) (0.32) (0.41)
Net earnings per common share attributable to SMP 1.07 1.26 3.18 2.12
Dividend declared per share (in dollars per share) $ 0.25 $ 0 $ 0.75 $ 0.25
Average number of common shares (in shares) 22,090,195 22,349,093 22,201,398 22,372,466
Average number of common shares and dilutive common shares (in shares) 22,543,781 22,758,458 22,678,114 22,795,426
[1] Segment net sales include intersegment sales in our Engine Management and Temperature Control segments.
[2] Throughout this Form 10-Q, “SMP” refers to Standard Motor Products, Inc. and subsidiaries.