XML 15 R2.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Apr. 01, 2023
Apr. 02, 2022
Sales $ 8,736,428 $ 9,074,125
Cost of sales 7,622,606 7,866,621
Gross profit 1,113,822 1,207,504
Operating expenses:    
Selling, general, and administrative expenses 642,431 643,925
Depreciation and amortization 46,679 48,305
Restructuring, integration, and other charges 2,560 4,898
Total operating expenses 691,670 697,128
Operating income 422,152 510,376
Equity in earnings (losses) of affiliated companies (80) 843
Gain on investments, net 10,311 2,011
Employee benefit plan expense, net (853) (889)
Interest and other financing expense, net (79,658) (33,985)
Income before income taxes 351,872 478,356
Provision for income taxes 76,547 112,360
Consolidated net income 275,325 365,996
Noncontrolling interests 1,575 1,247
Net income attributable to shareholders $ 273,750 $ 364,749
Net income per share:    
Basic $ 4.66 $ 5.38
Diluted [1] $ 4.60 $ 5.31
Weighted-average shares outstanding:    
Basic 58,731 67,840
Diluted 59,479 68,749
[1] Stock-based compensation awards for the issuance of 127.6 thousand and 86.0 thousand shares for the first quarter of 2023 and 2022, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive.