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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Jun. 28, 2024
Jun. 30, 2023
Net sales $ 1,795,943 $ 1,738,832 $ 3,387,569 $ 3,310,474
Cost of sales 1,079,233 1,067,255 2,030,300 2,014,791
Gross profit 716,710 671,577 1,357,269 1,295,683
Selling, delivery and administrative expenses 457,570 437,907 882,723 855,959
Income from operations 259,140 233,670 474,546 439,724
Interest (income) expense, net (1,620) 1,353 (4,336) 4,282
Mark-to-market on acquisition related contingent consideration 27,826 25,520 22,285 67,174
Pension plan settlement expense 0 39,777 0 39,777
Other expense, net 709 2,268 1,537 4,537
Income before taxes 232,225 164,752 455,060 323,954
Income tax expense 59,413 42,433 116,507 83,508
Net income $ 172,812 $ 122,319 $ 338,553 $ 240,446
Common Stock        
Basic net income per share:        
Common Stock (in dollars per share) $ 18.57 $ 13.05 $ 36.26 $ 25.65
Weighted average number of Common Stock shares outstanding (in shares) 8,302 8,369 8,335 8,369
Diluted net income per share:        
Common Stock (in dollars per share) $ 18.54 $ 13.02 $ 36.19 $ 25.59
Weighted average number of Common Stock shares outstanding - assuming dilution (in shares) 9,321 9,396 9,354 9,396
Cash dividends per share:        
Common Stock (in dollars per share) $ 0.50 $ 0.50 $ 17.00 $ 4.00
Class B Common Stock        
Basic net income per share:        
Common Stock (in dollars per share) $ 18.56 $ 13.05 $ 36.18 $ 25.65
Weighted average number of Common Stock shares outstanding (in shares) 1,005 1,005 1,005 1,005
Diluted net income per share:        
Common Stock (in dollars per share) $ 18.53 $ 13.01 $ 35.92 $ 25.51
Weighted average number of Common Stock shares outstanding - assuming dilution (in shares) 1,019 1,027 1,019 1,027
Cash dividends per share:        
Common Stock (in dollars per share) $ 0.50 $ 0.50 $ 17.00 $ 4.00