Quarterly Financial Information (Unaudited) Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Jan. 03, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Selected quarterly financial information is as follows for the fiscal years ended:

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter(1)		Year
	(In thousands, except per share data)
January 3, 2021
Revenue	$	652,396	$	811,718	$	964,025	$	1,354,606	$	3,782,745
Gross profit	308,023		447,344		527,445		827,065		2,109,877
Restructuring and other costs, net	5,858		1,158		4,059		(3,062)		8,013
Operating income from continuing operations	44,682		175,639		248,006		510,254		978,581
Income from continuing operations before income taxes	34,689		164,827		233,757		473,091		906,364
Income from continuing operations	33,715		137,213		176,736		380,434		728,098
Loss from discontinued operations and dispositions	(50)		(51)		(37)		(73)		(211)
Net income	33,665		137,162		176,699		380,361		727,887
Basic earnings per share:
Income from continuing operations	$	0.30	$	1.23	$	1.58	$	3.40	$	6.53
Loss from discontinued operations and dispositions	(0.00)		(0.00)		(0.00)		(0.00)		(0.00)
Net income	0.30		1.23		1.58		3.40		6.53
Diluted earnings per share:
Income from continuing operations	$	0.30	$	1.23	$	1.57	$	3.38	$	6.50
Loss from discontinued operations and dispositions	(0.00)		(0.00)		(0.00)		(0.00)		(0.00)
Net income	0.30		1.23		1.57		3.38		6.49
Cash dividends declared per common share	$	0.07	$	0.07	$	0.07	$	0.07	$	0.28
December 29, 2019
Revenue	$	648,737	$	722,517	$	706,923	$	805,496	$	2,883,673
Gross profit	307,806		347,793		342,275		398,181		1,396,055
Restructuring and other costs, net	7,639		6,161		14,068		1,560		29,428
Operating income from continuing operations	53,330		91,735		78,660		138,248		361,973
Income from continuing operations before income taxes	36,765		71,827		63,254		65,296		237,142
Income from continuing operations	35,453		69,141		58,610		64,549		227,753
Loss from discontinued operations and dispositions	(41)		(54)		(52)		(48)		(195)
Net income	35,412		69,087		58,558		64,501		227,558
Basic earnings per share:
Income from continuing operations	$	0.32	$	0.62	$	0.53	$	0.58	$	2.06
Loss from discontinued operations and dispositions	(0.00)		(0.00)		(0.00)		(0.00)		(0.00)
Net income	0.32		0.62		0.53		0.58		2.06
Diluted earnings per share:
Income continuing operations	$	0.32	$	0.62	$	0.53	$	0.58	$	2.04
Loss from discontinued operations and dispositions	(0.00)		(0.00)		(0.00)		(0.00)		(0.00)
Net income	0.32		0.62		0.52		0.58		2.04
Cash dividends declared per common share	$	0.07	$	0.07	$	0.07	$	0.07	$	0.28

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(1)     The fourth quarter of fiscal year 2020 includes a pre-tax loss of $25.4 million as a result of the mark-to-market adjustment on postretirement benefit plans. The fourth quarter of fiscal year 2019 includes a pre-tax loss of $31.2 million as a result of the mark-to-market adjustment on postretirement benefit plans. See Note 1 for a discussion of this accounting policy.