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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
NET SALES | $ 1,845,444 | $ 2,027,489 | $ 1,863,315
COST OF SALES | 1,519,910 | 1,724,046 | 1,630,681
Gross profit | 325,534 | 303,443 | 232,634
GENERAL AND ADMINISTRATIVE EXPENSES | 74,129 | 73,495 | 61,694
SELLING EXPENSES | 27,270 | 27,233 | 26,676
AMORTIZATION OF INTANGIBLES | 19,940 | 21,259 | 21,878
OTHER OPERATING EXPENSES | 1,663 | 1,087 | 0
Income from operations | 202,532 | 180,369 | 122,386
OTHER INCOME (EXPENSE): |  |  |
Interest expense | (15,663) | (19,548) | (22,165)
Other, net | (1,452) | 2,490 | (1,759)
Income before income taxes | 185,417 | 163,311 | 98,462
INCOME TAX EXPENSE | 65,984 | 59,022 | 37,532
Net income | $ 119,433 | $ 104,289 | $ 60,930
BASIC NET INCOME PER SHARE | $ 1.87 | $ 1.55 | $ 0.88
DILUTED NET INCOME PER SHARE | $ 1.82 | $ 1.50 | $ 0.85

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