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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Apr. 03, 2021
Mar. 28, 2020
Sales [1] $ 8,385,919 $ 6,381,417
Cost of sales 7,455,809 5,653,026
Gross profit 930,110 728,391
Operating expenses:    
Selling, general, and administrative expenses 574,567 533,839
Depreciation and amortization 50,331 47,110
Restructuring, integration, and other charges 5,709 9,138
Total operating expenses 630,607 590,087
Operating income 299,503 138,304
Equity in earnings of affiliated companies 844 530
Gain (loss) on investments, net 2,793 (16,810)
Employee benefit plan expense, net (1,230) (1,109)
Interest and other financing expense, net (33,656) (43,268)
Income before income taxes 268,254 77,647
Income Tax Expense (Benefit) 61,026 27,892
Consolidated net income 207,228 49,755
Noncontrolling interests 907 252
Net income attributable to shareholders $ 206,321 $ 49,503
Net income per share:    
Basic $ 2.76 $ 0.62
Diluted [2] $ 2.72 $ 0.61
Weighted-average shares outstanding:    
Basic 74,882 80,407
Diluted 75,794 81,108
Corporate    
Operating expenses:    
Operating income [3] $ (67,239) $ (68,896)
[1] Includes sales related to the United States of $2,497,998 and $2,412,087 for the first quarter of 2021 and 2020, respectively.
[2] Stock-based compensation awards for the issuance of 103 and 1,307 shares for the first quarter of 2021 and 2020, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive.
[3] Corporate operating income includes restructuring, integration, and other charges of $5,709 and $9,138 for the first quarter of 2021 and 2020, respectively.