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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 29, 2024
Oct. 01, 2023
Sep. 29, 2024
Oct. 01, 2023
Net sales $ 2,987,494 $ 3,029,987 $ 8,314,723 $ 8,507,881
Cost of sales 1,754,775 1,669,734 4,572,178 4,633,207
Gross profit 1,232,719 1,360,253 3,742,545 3,874,674
Selling, marketing and administrative expense 591,920 624,304 1,750,888 1,777,695
Business realignment costs 27,635 0 32,572 441
Operating profit 613,164 735,949 1,959,085 2,096,538
Interest expense, net 44,316 39,755 125,511 114,101
Other (income) expense, net 50,101 42,781 82,695 130,248
Income before income taxes 518,747 653,413 1,750,879 1,852,189
Provision for income taxes 72,446 134,836 326,231 339,444
Net income $ 446,301 $ 518,577 $ 1,424,648 $ 1,512,745
Common stock        
Net income per share—basic:        
Net income per share - basic (USD per share) $ 2.26 $ 2.60 $ 7.19 $ 7.56
Net income per share—diluted:        
Net income per share - diluted (USD per share) 2.20 2.52 7.00 7.36
Dividends paid per share:        
Dividends paid per share (USD per share) 1.370 1.192 4.110 3.264
Class B common stock        
Net income per share—basic:        
Net income per share - basic (USD per share) 2.05 2.36 6.53 6.93
Net income per share—diluted:        
Net income per share - diluted (USD per share) 2.05 2.36 6.53 6.91
Dividends paid per share:        
Dividends paid per share (USD per share) $ 1.245 $ 1.083 $ 3.735 $ 2.967