| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Net sales | ||||||||||
1,513,300 | 1,476,900 | 1,306,800 | 883,400 | 1,012,300 | 960,900 | 818,800 | 776,400 | 774,400 | 683,200 | 598,500 |
Cost of goods sold | ||||||||||
1,047,100 | 1,041,900 | 903,500 | 551,100 | 666,300 | 658,900 | 563,600 | 540,000 | 548,000 | 469,100 | 412,300 |
Gross profit | ||||||||||
466,200 | 435,000 | 403,300 | 332,300 | 346,000 | 302,000 | 255,200 | 236,400 | 226,400 | 214,100 | 186,200 |
Operating expenses: | ||||||||||
Selling, general and administrative | ||||||||||
280,900 | 261,000 | 244,200 | 216,700 | 206,700 | 169,200 | 142,100 | 119,100 | 158,300 | 113,500 | 144,100 |
Research and development | ||||||||||
35,400 | 33,400 | 31,400 | 25,400 | 25,300 | 22,200 | 21,200 | 19,600 | 18,300 | 17,600 | 16,400 |
Fair value of contingent consideration | ||||||||||
- | - | - | - | - | - | - | 0 | - | - | - |
Restructuring charge | ||||||||||
0 | 7,100 | 0 | 0 | - | - | - | - | 600 | 8,700 | 2,800 |
Adjustment to fair value of contingent consideration | ||||||||||
- | - | - | -9,400 | -40,700 | -1,900 | 0 | - | - | - | - |
Loss on disposal of subsidiary | ||||||||||
0 | 0 | -900 | -1,400 | 1,600 | 0 | 0 | - | - | - | - |
Foreign exchange loss on liquidation of subsidiary | ||||||||||
0 | 0 | -1,800 | 0 | 0 | - | - | - | - | - | - |
Impairment of Octane Additives segment goodwill | ||||||||||
- | - | - | - | - | - | 1,300 | 1,200 | 2,000 | 2,200 | 2,200 |
Profit on disposal, net | ||||||||||
- | - | - | - | - | - | - | - | 0 | 100 | 0 |
Total operating expenses | ||||||||||
316,300 | 301,500 | 278,300 | 234,100 | 189,700 | 189,500 | 164,600 | 139,900 | 179,200 | 141,900 | 165,500 |
Operating income | ||||||||||
149,900 | 133,500 | 125,000 | 98,200 | 156,300 | 112,500 | 90,600 | 96,500 | 47,200 | 72,200 | 20,700 |
Other income, net | ||||||||||
5,300 | 5,000 | 11,300 | 8,100 | 0 | 1,800 | 4,100 | -2,000 | 6,300 | 3,100 | 3,600 |
Interest expense, net | ||||||||||
-4,800 | -6,900 | -8,200 | -3,200 | -4,000 | -3,400 | -1,900 | 1,800 | 3,900 | 5,100 | 6,300 |
Interest income | ||||||||||
- | - | - | - | - | - | - | 600 | 600 | 500 | 300 |
Income before income tax expense | ||||||||||
150,400 | 131,600 | 128,100 | 103,100 | 152,300 | 110,900 | 92,800 | 93,300 | 50,200 | 70,700 | 18,300 |
Income tax expense | ||||||||||
38,200 | 46,600 | 66,300 | 21,800 | 32,800 | 26,800 | 15,000 | 26,400 | 3,100 | 3,000 | 11,900 |
Net income | ||||||||||
112,200 | 85,000 | 61,800 | 81,300 | 119,500 | 84,100 | 77,800 | 66,900 | 47,100 | 73,700 | 6,400 |
Earnings per share: | ||||||||||
Basic | ||||||||||
4.58 | 3.48 | 2.56 | 3.39 | 4.96 | 3.45 | 3.29 | 2.89 | 2.00 | 3.10 | 0.27 |
Diluted | ||||||||||
4.54 | 3.45 | 2.52 | 3.33 | 4.86 | 3.38 | 3.22 | 2.81 | 1.92 | 2.97 | 0.26 |
Weighted average shares outstanding (in thousands): | ||||||||||
Basic | ||||||||||
24,482 | 24,401 | 24,148 | 23,998 | 24,107 | 24,391 | 23,651 | 23,187 | 23,568 | 23,756 | 23,642 |
Diluted | ||||||||||
24,728 | 24,603 | 24,486 | 24,442 | 24,612 | 24,878 | 24,156 | 23,850 | 24,520 | 24,814 | 24,714 |
Dividend declared per common share | ||||||||||
- | - | - | 0.67 | 0.61 | 0.55 | 0.50 | 2.00 | 0.00 | 0.00 | 0.05 |