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Condensed Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Net Sales $ 812,652 $ 901,000 $ 1,583,677 $ 1,823,396
Cost of sales 436,833 516,834 856,038 1,037,545
Gross profit 375,819 384,166 727,639 785,851
Selling, general and administrative expenses 116,315 145,596 228,508 315,463
Engineering, research and development expenses 81,885 71,030 153,761 142,936
Amortization of intangible assets 47,513 54,680 97,672 112,254
Goodwill, Impairment Loss 0 0 0 88,872
Gain on termination of alliance agreement 0 154,754 0 154,754
Operating income 130,106 267,614 247,698 281,080
Interest expense 53,687 80,908 111,060 167,054
Interest income (1,160) (2,303) (4,154) (3,628)
Other expense, net 2,977 7,724 17,262 3,066
Income before income tax expense (benefit) 74,602 181,285 123,530 114,588
Income tax expense (benefit) 6,689 (16,491) 10,145 4,978
Equity in net loss of affiliates 217 130 423 130
Net income $ 67,696 $ 197,646 $ 112,962 $ 109,480
Basic earnings per common share $ 0.45 $ 1.32 $ 0.75 $ 0.73
Diluted earnings per common share $ 0.45 $ 1.31 $ 0.74 $ 0.73
Weighted average shares outstanding:        
Basic 150,801 149,825 150,675 149,626
Diluted 151,819 150,837 151,769 150,609