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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Sep. 30, 2017
Oct. 01, 2016
Sales $ 6,953,740 $ 5,936,092 $ 19,178,638 $ 17,382,370
Cost of sales 6,110,382 5,162,930 16,751,427 15,061,519
Gross Profit 843,358 773,162 2,427,211 2,320,851
Operating expenses:        
Selling, general, and administrative expenses 552,896 510,017 1,600,762 1,534,534
Depreciation and amortization 38,574 40,194 113,096 121,516
Restructuring, integration, and other charges 15,896 24,267 55,817 61,161
Total operating expenses 607,366 574,478 1,769,675 1,717,211
Operating income 235,992 198,684 657,536 603,640
Equity in earnings of affiliated companies 1,216 1,311 2,865 5,394
Loss on investment, net 15,000 0 14,250 0
Loss on extinguishment of debt 786 0 59,545 0
Interest and other financing expense, net 39,748 37,229 120,179 111,828
Income before income taxes 181,674 162,766 466,427 497,206
Provision for income taxes 46,199 44,931 114,998 137,441
Consolidated net income 135,475 117,835 351,429 359,765
Noncontrolling interests 845 108 3,352 1,533
Net income attributable to shareholders $ 134,630 $ 117,727 $ 348,077 $ 358,232
Net income per share:        
Basic $ 1.52 $ 1.29 $ 3.92 $ 3.92
Diluted [1] $ 1.50 $ 1.28 $ 3.87 $ 3.87
Weighted-average shares outstanding:        
Basic 88,453 90,937 88,870 91,412
Diluted 89,540 91,938 89,936 92,487
[1] Stock-based compensation awards for the issuance of 396 and 363 shares for the third quarter and first nine months of 2017 and 824 and 821 shares for the third quarter and first nine months 2016, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive.