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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 28, 2024
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited) Quarterly Information (Unaudited)
In the second quarter of 2024, we identified fraudulent activity within our India Professional Services business involving certain of our then-current employees (which employees were subsequently terminated or resigned) and a relatively small number of customers of our subsidiary in India dating back to 2023. As part of these activities and the collusion of these former employees and customers, our India Professional Services business hired providers and paid for professional services that were never performed and recognized revenue for the sale of professional services that were never provided by our customers to the end users. As a result, our net sales and cost of sales, selling, general and administrative expenses, and provision for income taxes were misstated on our Condensed Consolidated Statements of Income, and our accounts receivable, inventory, other assets, accounts payable, and accrued expenses and other were misstated on our Condensed Consolidated Balance Sheets. We are working to recover amounts paid to such customers and we intend to vigorously pursue all legal remedies available to us. We will record a benefit when and if any such amounts are deemed probable of recovery.
Management has determined that these misstatements were not material to the previously issued consolidated financial statements as of and for the Thirteen Weeks Ended March 30, 2024. However, in order to appropriately reflect the impacts of the identified misstatements in the appropriate period, management has determined to revise the financial statements as of and for the Thirteen Weeks Ended March 30, 2024 the next time such financial statements are filed. All misstatements related to the India Professional Services business are identified as (1) in the tables below. Additionally, other identified immaterial errors that have been corrected and revised are footnoted with a (2) in the tables below.
The following tables present a summary of the impact of the corrections by financial statement line item:
March 30, 2024
As ReportedAdjustmentAs Revised
Condensed Consolidated Balance Sheet:
Trade accounts receivable (1) (2)$8,297,613 $(15,301)$8,282,312 
(18,896)(1)
3,595 (2)
Inventory (1)4,679,975 (3,382)4,676,593 
Other current assets (1)735,795 404 736,199 
Total current assets14,570,960 (18,279)14,552,681 
Other assets (1)483,334 4,076 487,410 
Total assets$17,651,495 $(14,203)$17,637,292 
Accounts payable (1)$8,518,159 $(2,504)$8,515,655 
Accrued expenses and other (1)1,009,487 (3,582)1,005,905 
Short-term debt and current maturities of long-term debt (2)351,591 3,595 355,186 
Total current liabilities9,984,654 (2,491)9,982,163 
Total liabilities14,618,012 (2,491)14,615,521 
Retained earnings (1)1,141,040 (11,712)1,129,328 
Total stockholder's equity3,483,483 (11,712)3,471,771 
Total liabilities and stockholders' equity$17,651,495 $(14,203)$17,637,292 
Thirteen Weeks Ended March 30, 2024
As ReportedAdjustmentAs Revised
Condensed Consolidated Statement of Income
Net sales (1)$11,345,520 $(10,586)$11,334,934 
Cost of sales (1)10,506,173 (6,177)10,499,996 
Gross profit839,347 (4,409)834,938 
Selling, general and administrative expenses (1)640,175 1,977 642,152 
Total operating expenses662,840 1,977 664,817 
Income from operations176,507 (6,386)170,121 
Income before income taxes83,067 (6,386)76,681 
Provision for income taxes (1)29,140 (2,011)27,129 
Net income$53,927 $(4,375)$49,552 
Basic and diluted earnings per share(3)
$0.24 $(0.02)$0.22 
(3) Basic and diluted earnings per share reflects the stock conversion and stock split in connection with the IPO (see section “Stock Conversion and Stock Split” within Note 2, “Significant Accounting Policies”).
Thirteen Weeks Ended March 30, 2024
As ReportedAdjustmentAs Revised
Condensed Consolidated Statement of Comprehensive Income
Net income (1)$53,927 $(4,375)$49,552 
Comprehensive income$(30,143)$(4,375)$(34,518)
Thirteen Weeks Ended March 30, 2024
As ReportedAdjustmentAs RevisedAs ReportedAdjustmentAs Revised
Retained EarningsTotal
Condensed Consolidated Statement of Stockholders’ Equity:
Balance at December 30, 2023 (1)$1,087,113 $(7,337)$1,079,776 $3,513,626 $(7,337)$3,506,289 
Net income (1)53,927 (4,375)49,552 53,927 (4,375)49,552 
Balance at March 30, 2024$1,141,040 $(11,712)$1,129,328 $3,483,483 $(11,712)$3,471,771 
Thirteen Weeks Ended March 30, 2024
As ReportedAdjustmentAs Revised
Condensed Consolidated Statement of Cash Flow
Cash flows used in operating activities:
Net income (1)$53,927 $(4,375)$49,552 
Changes in operating assets and liabilities, net of effects of acquisitions:
Trade accounts receivable (1) (2)536,150 7,144 543,294 
7,159 (1)
(15)(2)
Inventory (1)(78,254)2,876 (75,378)
Other assets (1)(4,588)(2,011)(6,599)
Accounts payable (1)(577,588)(2,258)(579,846)
Accrued expenses and other (1)(25,433)(1,391)(26,824)
Cash used in operating activities$(100,251)$(15)$(100,266)
Cash flows from financing activities:
Net proceeds from revolving and other credit facilities (2)22,475 15 22,490 
Cash provided by financing activities$3,501 $15 $3,516 
The following selected quarterly financial data is being provided in consideration of our 8367.19365-for-1 stock split as a result of our IPO as described in the “Initial Public Offering” section presented within Note 2, “Significant Accounting Policies”:
Fiscal Year 2024
Thirteen Weeks Ended March 30, 2024Thirteen Weeks Ended June 29, 2024Thirteen Weeks Ended September 28, 2024Thirteen Weeks Ended December 28, 2024
Net sales$11,334,934 $11,541,439 $11,762,628 $13,344,670 
Income from operations$170,121 $181,128 $218,174 $248,500 
Net income$49,552 $54,585 $76,969 $83,116 
Basic and diluted earnings per share$0.22 $0.25 $0.35 $0.36 
Fiscal Year 2023
Thirteen Weeks Ended April 1, 2023Thirteen Weeks Ended July 1, 2023Thirteen Weeks Ended September 30, 2023Thirteen Weeks Ended December 30, 2023
Net sales$11,569,161 $11,526,329 $11,925,373 $13,019,501 
Income from operations$194,150 $206,860 $212,402 $330,935 
Net income$62,551 $66,854 $86,783 $136,524 
Basic and diluted earnings per share$0.28 $0.30 $0.39 $0.61