Page 22 - 2017 AMETEK Annual Report (Interactive) Updated mobile

Condensed Consolidated Statement of Income

(In thousands, except per share amounts)
Year Ended December 31,
2017 2016 2015
Net sales $ 4,300,170 $ 3,840,087 $ 3,974,295
Operating expenses:
Cost of sales 2,851,431 2,575,220 2,617,987
Selling, general and administrative 533,645 462,970 448,592
Total operating expenses 3,385,076 3,038,190 3,066,579
Operating income 915,094 801,897 907,716
Other expenses:
Interest expense (98,029) (94,304) (91,795)
Other, net (20,336) (14,490) (9,541)
Income before income taxes 796,729 693,103 806,380
Provision for income taxes 115,259 180,945 215,521
Net income $ 681,470 $ 512,158 $ 590,859
Basic earnings per share $ 2.96 $ 2.20 $ 2.46
Diluted earnings per share $ 2.94 $ 2.19 $ 2.45
Weighted average common shares outstanding:
Basic shares 230,229 232,593 239,906
Diluted shares 231,845 233,730 241,586
These condensed consolidated financial statements should be read in conjunction with the full financial statements and the notes presented in Appendix A to the Company’s Proxy
Statement for the 2018 Annual Meeting of Stockholders.

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