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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Oct. 01, 2022
Oct. 02, 2021
Revenue from Contract with Customer, Excluding Assessed Tax $ 992,871 $ 817,545 $ 3,001,148 $ 2,384,376
Cost of sales 627,639 517,918 1,944,664 1,505,149
Gross profit 365,232 299,627 1,056,484 879,227
Selling, General and Administrative Expense 201,200 175,354 596,757 496,022
Restructuring Charges 2,327 791 8,231 2,596
Merger termination fee 0 110,000 0 110,000
Gain (Loss) on Disposition of Assets 0 0 0 (763)
Income from operations [1],[2] 161,705 233,482 451,496 491,372 [3]
Net interest expense and deferred financing amortization, net 24,067 13,192 62,563 43,481
Net periodic pension benefit (other than service costs) (9,944) (11,363) (32,244) (34,268)
Other (income) expense, net 8,529 794 18,478 (1,366)
Earnings before income taxes 139,053 230,859 402,699 483,525
Provision for income taxes 34,684 54,893 99,327 97,711
Net earnings $ 104,369 $ 175,966 $ 303,372 $ 385,814
Net earnings per share:        
Earnings Per Share, Basic $ 1.94 $ 3.19 $ 5.60 $ 6.99
Earnings Per Share, Diluted $ 1.92 $ 3.09 $ 5.50 $ 6.83
Weighted average number of shares        
Basic (in shares) 53,867,000 55,232,000 54,190,000 55,225,000
Dilutive common stock equivalents (in shares) 517,000 1,707,000 944,000 1,301,000
Diluted (in shares) 54,384,000 56,939,000 55,134,000 56,526,000
Comprehensive income $ 64,883 $ 163,011 $ 208,597 $ 372,037
[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.