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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Jan. 02, 2021
Net sales $ 4,032,853 $ 3,250,792 $ 2,513,257
Cost of Sales 2,586,299 2,055,932 1,631,209
Gross profit 1,446,554 1,194,860 882,048
Selling, General and Administrative Expense 797,234 667,976 531,897
Restructuring Charges 9,716 7,655 12,375
Merger termination fee 0 (110,000) 0
Gain on sale of plant 0 (763) (1,982)
Impairments 0 0 15,327
Income from operations [1] 639,604 629,992 324,431
Net interest expense and deferred financing amortization, net 88,977 57,157 78,617
Net Periodic Benefit Cost, Other Than Service Cost & Curtailment (42,681) (45,066) (39,996)
Curtailment loss 0 0 14,682
Other expense (income), net 28,893 (1,603) 3,071
Earnings before income taxes 564,415 619,504 268,057
Provision for income taxes 127,846 131,012 60,763
Net earnings $ 436,569 $ 488,492 $ 207,294
Net earnings per share:      
Basic (in usd per share) $ 8.07 $ 8.85 $ 3.76
Diluted (in usd per share) $ 7.95 $ 8.62 $ 3.76
Weighted average number of shares      
Basic (in shares) 54,095,000 55,216,000 55,093,000
Dilutive common stock equivalents (in shares) 852,000 1,449,000 43,000
Diluted (in shares) 54,947,000 56,665,000 55,136,000
[1] Restructuring expenses are included in operating income of the segment to which they pertain. See note 12 for further details