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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Net sales $ 2,959,446 $ 2,722,931 $ 2,335,542
Cost of Sales 1,855,949 1,718,791 1,422,801
Gross profit 1,103,497 1,004,140 912,741
Selling, General and Administrative Expense 593,813 538,842 468,219
Restructuring Charges 10,480 19,332 19,951
Gain (Loss) Related to Litigation Settlement (14,839) 0 0
Gain (Loss) on Disposition of Assets 0 0 (12,042)
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 0 0 58,000
Income from operations [2] 514,043 [1] 445,966 378,613 [3],[4]
Net interest expense and deferred financing amortization, net 82,609 58,742 25,983
Net Periodic Benefit Cost, Other Components (28,857) (38,114) (31,728)
Other (income) expense, net (2,328) 1,825 829
Earnings before income taxes 462,619 423,513 383,529
Provision for income taxes 110,379 106,361 85,401
Net earnings $ 352,240 $ 317,152 $ 298,128
Net earnings per share:      
Basic (in usd per share) $ 6.33 $ 5.71 [5] $ 5.26
Diluted (in usd per share) $ 6.33 $ 5.70 [5] $ 5.26
Weighted average number of shares      
Basic (in shares) 55,647,000 55,576,000 56,715,000
Dilutive common stock equivalents (in shares) 9,000 28,000 4,000
Diluted (in shares) 55,656,000 55,604,000 56,719,000
[1]
Gain on litigation settlement is included in Residential Kitchen.
[2]
Restructuring expenses are included in operating income of the segment to which they pertain. See note 13 for further details.
[3]
Impairment of intangible assets is included in Residential Kitchen.
[4]
Impairment of intangible assets is included in Residential Kitchen.











[5]
Sum of quarters may not equal the total for the year due to changes in the number of shares outstanding during the year.