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Condensed Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Net Sales $ 901,000 $ 692,489 $ 1,823,396 $ 1,342,135
Cost of sales 516,834 382,092 1,037,545 721,918
Gross profit 384,166 310,397 785,851 620,217
Selling, general and administrative expenses 145,596 90,685 315,463 177,793
Engineering, research and development expenses 71,030 49,248 142,936 95,963
Amortization of intangible assets 54,680 12,494 112,254 25,145
Impairment of goodwill 0   88,872 0
Gain on termination of alliance agreement (154,754) 0 (154,754) 0
Operating income 267,614 157,970 281,080 321,316
Interest expense 80,908 32,001 167,054 44,877
Interest income (2,303) (658) (3,628) (670)
Other expense, net 7,724 9,619 3,066 14,521
Income before income tax (benefit) expense 181,285 117,008 114,588 262,588
Income tax (benefit) expense (16,491) 17,517 4,978 37,392
Equity in net loss of affiliates 130 0 130 0
Net income $ 197,646 $ 99,491 $ 109,480 $ 225,196
Basic earnings per common share $ 1.32 $ 0.73 $ 0.73 $ 1.66
Diluted earnings per common share $ 1.31 $ 0.73 $ 0.73 $ 1.65
Weighted shares outstanding:        
Basic 149,825 135,895 149,626 135,783
Diluted 150,837 136,454 150,609 136,503
Retained Earnings        
Net income $ 197,646 $ 99,491