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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jul. 02, 2022
Jul. 03, 2021
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,013,601 $ 808,773 $ 2,008,277 $ 1,566,831
Cost of sales 652,859 505,047 1,317,025 987,231
Gross profit 360,742 303,726 691,252 579,600
Selling, General and Administrative Expense 189,486 165,711 395,557 320,668
Restructuring Charges 4,029 1,011 5,904 1,805
Gain (Loss) on Disposition of Assets 0 287 0 (763)
Income from operations [1],[2] 167,227 136,717 289,791 257,890 [3]
Net interest expense and deferred financing amortization, net 20,842 14,222 38,496 30,289
Net periodic pension benefit (other than service costs) (10,784) (11,532) (22,300) (22,905)
Other (income) expense, net 5,888 (469) 9,949 (2,160)
Earnings before income taxes 151,281 134,496 263,646 252,666
Provision for income taxes 38,033 13,911 64,643 42,818
Net earnings $ 113,248 $ 120,585 $ 199,003 $ 209,848
Net earnings per share:        
Earnings Per Share, Basic $ 2.10 $ 2.18 $ 3.66 $ 3.80
Earnings Per Share, Diluted $ 2.07 $ 2.13 $ 3.59 $ 3.73
Weighted average number of shares        
Basic (in shares) 54,033,000 55,230,000 54,351,000 55,222,000
Dilutive common stock equivalents (in shares) 621,000 1,443,000 1,158,000 1,098,000
Diluted (in shares) 54,654,000 56,673,000 55,509,000 56,320,000
Comprehensive income $ 46,442 $ 121,935 $ 143,714 $ 209,026
[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.
[3] Gain/(loss) on sale of plants are included in Commercial Foodservice and Residential Kitchen.