Consolidated Statements of Earnings
| For the years ended December 31 (In thousands, except per share data) | 2012 | 2011 | 2010 |
|---|---|---|---|
| Net sales | $2,097,716 | $2,016,742 | $1,854,513 |
| Cost of sales | 1,438,973 | 1,359,795 | 1,248,248 |
| Gross profit | $658,743 | $656,947 | $606,265 |
| Research and development expenses | (59,712) | (62,115) | (54,131) |
| Selling expenses | (125,201) | (119,438) | (111,773) |
| General and administrative expenses | (312,384) | (288,540) | (273,676) |
| Operating income | $161,446 | $186,854 | $166,685 |
| Interest expense | (26,329) | (20,834) | (22,107) |
| Other income, net | 245 | 862 | 575 |
| Earnings before income taxes | $135,362 | $166,882 | $145,153 |
| Provision for income taxes | (43,073) | (48,262) | (47,269) |
| Earnings from continuing operations | $92,289 | $118,620 | $97,884 |
| Discontinued operations, net of taxes | |||
| Earnings from discontinued operations | $3,043 | $7,769 | $4,296 |
| Gain on divestiture | 18,512 | — | — |
| Earnings from discontinued operations | $21,555 | $7,769 | $4,296 |
| Net earnings | $113,844 | $126,389 | $102,180 |
| Basic earnings per share: | |||
| Earnings from continuing operations | $1.98 | $2.56 | $2.14 |
| Earnings from discontinued operations | 0.46 | 0.17 | 0.09 |
| Total | $2.44 | $2.73 | $2.23 |
| Diluted earnings per share: | |||
| Earnings from continuing operations | $1.95 | $2.52 | $2.12 |
| Earnings from discontinued operations | 0.45 | 0.17 | 0.09 |
| Total | $2.40 | $2.69 | $2.21 |
| Dividends per share | $0.35 | $0.32 | $0.32 |
| Weighted average shares outstanding: | |||
| Basic | 46,743 | 46,372 | 45,823 |
| Diluted | 47,412 | 47,013 | 46,322 |