XML 23 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 02, 2016
Jun. 27, 2015
Jul. 02, 2016
Jun. 27, 2015
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) [Abstract]        
Net sales $ 544,071 $ 555,593 $ 1,076,880 $ 1,092,835
Cost of goods sold 456,060 470,365 902,702 931,199
Depreciation and amortization 9,061 8,188 17,981 16,041
Selling, general, and administrative expense 34,514 33,420 70,294 66,251
Gain on sale of assets 0 (15,376) 0 (15,376)
Severance 0 3,442 0 3,442
Operating income 44,436 55,554 85,903 91,278
Interest expense (1,692) (2,219) (3,540) (4,295)
Other income, net 515 265 760 370
Income before income taxes 43,259 53,600 83,123 87,353
Income tax expense (14,005) (19,738) (28,126) (31,151)
(Loss) income from unconsolidated affiliates, net of tax (995) 0 1,927 0
Consolidated net income 28,259 33,862 56,924 56,202
Net income attributable to noncontrolling interests (462) (211) (497) (573)
Net income attributable to Mueller Industries, Inc. $ 27,797 $ 33,651 $ 56,427 $ 55,629
Weighted average shares for basic earnings per share (in shares) 56,511 56,247 56,489 56,220
Effect of dilutive stock-based awards (in shares) 418 743 456 737
Adjusted weighted average shares for diluted earnings per share (in shares) 56,929 56,990 56,945 56,957
Basic earnings per share (in dollars per share) $ 0.49 $ 0.60 $ 1.00 $ 0.99
Diluted earnings per share (in dollars per share) 0.49 0.59 0.99 0.98
Dividends per share (in dollars per share) $ 0.100 $ 0.075 $ 0.175 $ 0.150