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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]      
Net sales [1] $ 1,371,815 $ 1,298,816 $ 1,128,588
Cost of sales 989,276 921,885 791,933
Gross profit 382,539 376,931 336,655
Selling, general and administrative expenses 276,626 247,547 224,670
Intangible asset impairment 0 0 2,600
Restructuring and integration expenses 1,891 [2] 392 464
Other income (expense), net 113 7 (26)
Operating income 104,135 128,999 108,895
Other non-operating income, net 4,814 3,494 812
Interest expense 10,617 2,028 2,328
Earnings from continuing operations before income taxes 98,332 130,465 107,379
Provision for income taxes 25,206 31,044 26,962
Earnings from continuing operations 73,126 99,421 80,417
Loss from discontinued operations, net of income tax benefit of $6,216, $2,975 and $8,089 (17,691) (8,467) (23,024)
Net earnings 55,435 90,954 57,393
Net earnings attributable to noncontrolling interest 84 68 0
Net earnings attributable to SMP [3] 55,351 90,886 57,393
Net earnings attributable to SMP      
Earnings from continuing operations 73,042 99,353 80,417
Discontinued operations (17,691) (8,467) (23,024)
Net earnings attributable to SMP [3] $ 55,351 $ 90,886 $ 57,393
Net earnings per common share - Basic:      
Earnings from continuing operations (in dollars per share) $ 3.37 $ 4.49 $ 3.59
Discontinued operations (in dollars per share) (0.82) (0.39) (1.02)
Net earnings per common share - Basic (in dollars per share) 2.55 4.1 2.57
Net earnings per common share - Diluted:      
Earnings from continuing operations (in dollars per share) 3.3 4.39 3.52
Discontinued operations (in dollars per share) (0.8) (0.37) (1.01)
Net earnings per common share - Diluted (in dollars per share) 2.5 4.02 2.51
Dividend declared per share (in dollars per share) $ 1.08 $ 1 $ 0.5
Average number of common shares (in shares) 21,683,719 22,147,479 22,374,123
Average number of common shares and dilutive common shares (in shares) 22,139,981 22,616,456 22,825,885
[1] Segment net sales include intersegment sales in our Engine Management and Temperature Control segments.
[2] Included in restructuring and integration costs in 2022 is a $0.2 million increase in environmental cleanup costs related to ongoing monitoring and remediation in connection with the prior closure of our manufacturing operations at our Long Island City, New York location.  The environmental liability has been reclassed to accrued liabilities as of December 31, 2022.
[3] Throughout this Form 10-K, “SMP” refers to Standard Motor Products, Inc. and subsidiaries.