| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales | |||||||||||
1,839,900 | 1,717,400 | 1,599,100 | 1,509,100 | 1,399,800 | 1,421,400 | 1,368,400 | 1,266,400 | 1,192,300 | 1,104,700 | 1,055,700 | 1,051,100 |
Cost of goods and services sold | |||||||||||
1,234,200 | 1,172,000 | 1,086,200 | 1,007,700 | 944,000 | 973,600 | 933,700 | 878,700 | 853,000 | 786,600 | 752,100 | 748,500 |
Gross profit | |||||||||||
605,700 | 545,400 | 512,900 | 501,400 | 455,800 | 447,800 | 434,700 | 387,700 | 339,300 | 318,100 | 303,600 | 302,600 |
Research and development | |||||||||||
38,900 | 40,300 | 39,100 | 36,800 | 34,100 | 37,300 | 37,900 | 33,200 | 29,100 | 23,900 | 19,900 | 18,700 |
Selling, general and administrative expenses | |||||||||||
272,700 | 262,900 | 246,000 | 239,600 | 233,000 | 228,700 | 234,900 | 218,100 | 191,100 | 187,700 | 177,700 | 159,300 |
Other income (Note 15) | |||||||||||
2,500 | -1,900 | -2,000 | -29,800 | -60,100 | 200 | 500 | -1,300 | 9,500 | 15,800 | 8,500 | 500 |
Operating profit | |||||||||||
296,600 | 240,300 | 225,800 | 195,200 | 128,600 | 182,000 | 162,400 | 135,100 | 109,600 | 90,700 | 97,500 | 124,100 |
Loss on debt extinguishment | |||||||||||
- | - | - | - | - | - | -200 | -11,600 | 0 | 0 | - | - |
Interest expense | |||||||||||
8,500 | 8,400 | 7,800 | 8,100 | 14,100 | 16,500 | 17,000 | 16,700 | 18,200 | 16,800 | 15,200 | 16,000 |
Interest income | |||||||||||
3,800 | 2,100 | 1,300 | 1,100 | 1,600 | 3,500 | 1,900 | 1,800 | 1,300 | 600 | 800 | 1,400 |
Other nonoperating expense (income) | |||||||||||
-100 | 6,700 | 3,100 | 1,600 | - | - | - | - | - | - | - | - |
Income before income taxes | |||||||||||
291,800 | 240,700 | 222,400 | 189,800 | 116,100 | 169,000 | 147,100 | 108,600 | 92,700 | 74,500 | 83,100 | 109,500 |
Income tax expense | |||||||||||
59,000 | 41,400 | 80,900 | 54,400 | 26,300 | 47,200 | 40,200 | 32,700 | 23,500 | 13,600 | 13,500 | 23,700 |
Equity in net income of affiliated companies | |||||||||||
8,900 | 7,600 | 9,200 | 8,200 | 5,800 | 5,300 | 5,400 | 4,800 | 6,300 | 4,400 | 3,000 | 800 |
Net income | |||||||||||
241,700 | 206,900 | 150,700 | 143,600 | 95,600 | 127,100 | 112,300 | 80,700 | 75,500 | 65,300 | 72,600 | 86,600 |
Net income per share: | |||||||||||
Less: net income attributable to noncontrolling interests | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 600 |
Net income attributable to common shareholders | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 86,000 |
Basic (in dollars per share) | |||||||||||
3.27 | 2.80 | 2.04 | 1.96 | 1.33 | 1.79 | 1.61 | 1.19 | 1.12 | 1.96 | 2.21 | 2.65 |
Diluted (in dollars per share) | |||||||||||
3.21 | 2.74 | 1.99 | 1.91 | 1.30 | 1.75 | 1.57 | 1.15 | 1.08 | 1.89 | 2.12 | 2.50 |
Weighted average shares outstanding: | |||||||||||
Basic (in shares) | |||||||||||
74,000 | 73,900 | 73,900 | 73,300 | 72,000 | 70,900 | 69,600 | 68,100 | 67,300 | 33,300 | 32,800 | 32,400 |
Diluted (in shares) | |||||||||||
75,400 | 75,400 | 75,800 | 75,000 | 73,800 | 72,800 | 71,400 | 71,800 | 74,000 | 36,700 | 36,300 | 36,100 |
Dividends declared per share (in dollars per share) | |||||||||||
- | - | - | 0.50 | 0.46 | 0.41 | 0.39 | 0.37 | 0.35 | 0.66 | 0.62 | 0.58 |