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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Net sales $ 2,074,480 $ 2,490,280 $ 5,327,229 $ 5,477,894
Cost of sales 1,240,735 1,358,181 2,817,403 2,963,473
Gross profit 833,745 1,132,099 2,509,826 2,514,421
Selling, marketing and administrative expense 540,987 571,804 1,158,968 1,153,391
Business realignment costs (benefits) 4,937 (370) 4,937 441
Operating profit 287,821 560,665 1,345,921 1,360,589
Interest expense, net 41,373 36,661 81,195 74,346
Other (income) expense, net 574 84,484 32,594 87,467
Income before income taxes 245,874 439,520 1,232,132 1,198,776
Provision for income taxes 64,980 32,537 253,785 204,608
Net income $ 180,894 $ 406,983 $ 978,347 $ 994,168
Common stock        
Net income per share—basic:        
Net income per share - basic (USD per share) $ 0.92 $ 2.03 $ 4.93 $ 4.96
Net income per share—diluted:        
Net income per share - diluted (USD per share) 0.89 1.98 4.80 4.83
Dividends paid per share:        
Dividends paid per share (USD per share) 1.370 1.036 2.740 2.072
Class B common stock        
Net income per share—basic:        
Net income per share - basic (USD per share) 0.83 1.88 4.48 4.57
Net income per share—diluted:        
Net income per share - diluted (USD per share) 0.83 1.88 4.47 4.56
Dividends paid per share:        
Dividends paid per share (USD per share) $ 1.245 $ 0.942 $ 2.49 $ 1.884