part iI / item 8 33 CONSOLIDATED STATEMENTS OF OPERATIONS See Notes to Consolidated Financial Statements For the year ended December 31, (in thousands, except per share data) 2012 2011 2010 Net sales $ 2,579,068 $ 2,500,369 $ 2,179,319 Operating costs and expenses: Cost of sales 1,709,949 1,653,238 1,437,376 Asbestos charge — 241,647 — Environmental charge — 30,327 — Restructuring charge 18,463 — 6,676 Selling, general and administrative 540,215 538,586 501,967 2,268,627 2,463,798 1,946,019 Operating profit from continuing operations 310,441 36,571 233,300 Other income (expense): Interest income 1,879 1,635 1,184 Interest expense (26,831) (26,255) (26,841) Miscellaneous (expense) income (884) 2,810 1,424 (25,836) (21,810) (24,233) Income from continuing operations before income taxes 284,605 14,761 209,067 Provision (benefit) for income taxes 88,416 (8,055) 56,087 Income from continuing operations 196,189 22,816 152,980 Discontinued Operations: Income from Discontinued Operations, net of tax 2,456 3,700 1,210 Gain from Sales of Discontinued Operations, net of tax 19,176 — — Discontinued Operations, net of tax 21,632 3,700 1,210 Net income before allocation to noncontrolling interests 217,821 26,516 154,190 Less: Noncontrolling interest in subsidiaries’ earnings 828 201 20 Net income attributable to common shareholders 216,993 26,315 154,170 Earnings per share—basic: Income from continuing operations attributable to common shareholders $ 3.40 $ 0.39 $ 2.61 Discontinued operations, net of tax 0.38 0.06 0.02 Net income attributable to common shareholders $ 3.78 $ 0.45 $ 2.63 Average basic shares outstanding 57,443 58,120 58,601 Earnings per share—diluted: Income from continuing operations attributable to common shareholders $ 3.35 $ 0.38 $ 2.57 Discontinued operations, net of tax 0.37 0.06 0.02 Net income attributable to common shareholders $ 3.72 $ 0.44 $ 2.59 Average diluted shares outstanding 58,293 59,204 59,562