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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Sales $ 9,074,125 $ 8,385,919
Cost of sales 7,866,621 7,455,809
Gross profit 1,207,504 930,110
Operating expenses:    
Selling, general, and administrative expenses 643,925 574,567
Depreciation and amortization 48,305 50,331
Restructuring, integration, and other charges 4,898 5,709
Total operating expenses 697,128 630,607
Operating income 510,376 299,503
Equity in earnings of affiliated companies 843 844
Gain on investments, net 2,011 2,793
Employee benefit plan expense, net (889) (1,230)
Interest and other financing expense, net (33,985) (33,656)
Income before income taxes 478,356 268,254
Provision for income taxes 112,360 61,026
Consolidated net income 365,996 207,228
Noncontrolling interests 1,247 907
Net income attributable to shareholders $ 364,749 $ 206,321
Net income per share:    
Basic $ 5.38 $ 2.76
Diluted [1] $ 5.31 $ 2.72
Weighted-average shares outstanding:    
Basic 67,840 74,882
Diluted 68,749 75,794
[1] Stock-based compensation awards for the issuance of 86 and 103 shares for the first quarter of 2022 and 2021, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive.