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 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Statement [Abstract]        
Product sales $ 1,055,036 $ 883,068 $ 2,006,619 $ 1,704,714
Shipping & handling revenues 164,203 148,880 336,267 291,409
Net sales 1,219,239 1,031,948 2,342,886 1,996,123
Cost of sales 247,224 203,737 473,201 399,881
Gross profit 972,015 828,211 1,869,685 1,596,242
Royalty overrides 379,551 335,195 743,580 652,728
Selling, general & administrative expenses 400,107 306,310 764,827 602,703
Operating income 192,357 186,706 361,278 340,811
Interest expense, net 5,559 3,169 10,932 4,542
Income before income taxes 186,798 183,537 350,346 336,269
Income taxes 43,636 51,586 88,311 96,387
NET INCOME $ 143,162 $ 131,951 $ 262,035 $ 239,882
Earnings per share:        
Basic $ 1.39 $ 1.13 $ 2.53 $ 2.06
Diluted $ 1.34 $ 1.09 $ 2.44 $ 1.96
Weighted average shares outstanding:        
Basic 102,993 116,557 103,551 116,376
Diluted 107,083 121,482 107,589 122,182
Dividends declared per share $ 0.30 $ 0.30 $ 0.60 $ 0.60