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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,039,982 $ 1,013,601 $ 2,047,378 $ 2,008,277
Cost of sales 646,746 652,859 1,275,407 1,317,025
Gross profit 393,236 360,742 771,971 691,252
Selling, General and Administrative Expense 203,521 189,486 418,928 395,557
Restructuring Charges 4,944 4,029 7,250 5,904
Income from operations [1],[2] 184,771 167,227 345,793 289,791
Net interest expense and deferred financing amortization, net 31,529 20,842 60,991 38,496
Net periodic pension benefit (other than service costs) (2,575) (10,784) (4,826) (22,300)
Other (income) expense, net (326) 5,888 1,570 9,949
Earnings before income taxes 156,143 151,281 288,058 263,646
Provision for income taxes 39,293 38,033 72,119 64,643
Net earnings $ 116,850 $ 113,248 $ 215,939 $ 199,003
Net earnings per share:        
Earnings Per Share, Basic $ 2.18 $ 2.10 $ 4.03 $ 3.66
Earnings Per Share, Diluted $ 2.16 $ 2.07 $ 3.98 $ 3.59
Weighted average number of shares        
Basic (in shares) 53,527,000 54,033,000 53,560,000 54,351,000
Dilutive common stock equivalents (in shares) 515,000 621,000 649,000 1,158,000
Diluted (in shares) 54,042,000 54,654,000 54,209,000 55,509,000
Comprehensive income $ 125,781 $ 46,442 $ 240,699 $ 143,714
[1] Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
[2] Restructuring expenses are allocated in operating income by segment.(4)Includes depreciation on right of use assets.