Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v2.4.0.8
Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Income Statement [Abstract]        
Product sales $ 1,062,962 $ 869,542 $ 3,069,581 $ 2,574,256
Shipping & handling revenues 150,581 147,345 486,848 438,754
Net sales 1,213,543 1,016,887 3,556,429 3,013,010
Cost of sales 238,415 201,597 711,616 601,478
Gross profit 975,128 815,290 2,844,813 2,411,532
Royalty overrides 373,241 330,247 1,116,821 982,975
Selling, general & administrative expenses 409,747 324,200 1,174,574 926,903
Operating income 192,140 160,843 553,418 501,654
Interest expense, net 4,726 3,546 15,658 8,088
Income before income taxes 187,414 157,297 537,760 493,566
Income taxes 45,464 45,424 133,775 141,811
NET INCOME $ 141,950 $ 111,873 $ 403,985 $ 351,755
Earnings per share:        
Basic $ 1.39 $ 1.03 $ 3.92 $ 3.09
Diluted $ 1.32 $ 0.98 $ 3.75 $ 2.95
Weighted average shares outstanding:        
Basic 102,200 108,816 103,096 113,838
Diluted 107,777 113,646 107,759 119,376
Dividends declared per share $ 0.30 $ 0.30 $ 0.90 $ 0.90