|
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Income Statement [Abstract] |
|
|
| Net sales |
$ 825,400 |
$ 935,036 |
| Operating costs and expenses: |
|
|
| Cost of sales |
532,196 |
597,325 |
| Selling, general and administrative |
125,671 |
113,028 |
| Research and development |
27,736 |
31,870 |
| Amortization of purchased intangible assets |
44,786 |
44,298 |
| Restructuring costs, net |
1,871 |
1,980 |
| Total operating costs and expenses |
732,260 |
788,501 |
| Operating income |
93,140 |
146,535 |
| Other income (expense), net |
2,627 |
(3,195) |
| Interest expense |
(36,329) |
(42,280) |
| Interest income |
1,029 |
1,104 |
| Income before income taxes |
60,467 |
102,164 |
| Income tax expense |
(20,991) |
(37,677) |
| Net income |
39,476 |
64,487 |
| Earnings per share: |
|
|
| Basic |
$ 0.21 |
$ 0.35 |
| Diluted |
$ 0.20 |
$ 0.34 |
| Weighted average shares outstanding: |
|
|
| Basic |
188,480 |
185,942 |
| Diluted |
193,137 |
190,922 |
| Comprehensive income: |
|
|
| Net income |
39,476 |
64,487 |
| Other comprehensive income (loss), net of tax: |
|
|
| Foreign currency translation gain (loss) |
(29,488) |
1,627 |
| Pension and other postretirement benefit activity |
(1,587) |
(1,551) |
| Available-for-sale securities |
(2,989) |
|
| Total other comprehensive income (loss), net of tax |
(34,064) |
76 |
| Total comprehensive income |
$ 5,412 |
$ 64,563 |