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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Jan. 02, 2021
Dec. 28, 2019
Dec. 29, 2018
Net sales $ 2,513,257 $ 2,959,446 $ 2,722,931
Cost of Sales 1,631,209 1,855,949 1,718,791
Gross profit 882,048 1,103,497 1,004,140
Selling, General and Administrative Expense 531,897 593,813 538,842
Restructuring Charges 12,375 10,480 19,332
Gain (Loss) Related to Litigation Settlement 0 (14,839) 0
Gain (Loss) on Disposition of Assets (1,982) 0 0
Impairments 15,327 0 0
Income from operations [2] 324,431 [1] 514,043 [1] 445,966
Net interest expense and deferred financing amortization, net 78,617 82,609 58,742
Net Periodic Benefit Cost, Other Than Service Cost & Curtailment (39,996) (29,722) (39,020)
Other expense (income), net 3,071 (2,328) 1,825
Earnings before income taxes 268,057 462,619 423,513
Provision for income taxes 60,763 110,379 106,361
Net earnings $ 207,294 $ 352,240 $ 317,152
Net earnings per share:      
Basic (in usd per share) $ 3.76 $ 6.33 [3] $ 5.71
Diluted (in usd per share) $ 3.76 $ 6.33 [3] $ 5.70
Weighted average number of shares      
Basic (in shares) 55,093,000 55,647,000 55,576,000
Dilutive common stock equivalents (in shares) 43,000 9,000 28,000
Diluted (in shares) 55,136,000 55,656,000 55,604,000
Curtailment loss $ 14,682 $ 865 $ 906
[1] Gain on litigation settlement is included in Residential Kitchen and gain on sale of plant is included in Commercial Foodservice.
[2] Restructuring expenses and impairments are included in operating income of the segment to which they pertain. See note 3(f) and 13 for further details.
[3] Sum of quarters may not equal the total for the year due to changes in the number of shares outstanding during the year.