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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Apr. 01, 2017
Income Statement [Abstract]    
Net sales $ 640,060 $ 577,920 [1]
Cost of goods sold 545,670 488,427 [1]
Depreciation and amortization 9,456 8,355 [1]
Selling, general, and administrative expense 34,057 35,574 [1]
Asset impairment 3,469 0 [2]
Operating income 47,408 45,564 [1]
Interest expense (5,909) (2,531) [1]
Other income, net 560 594 [1]
Income before income taxes 42,059 43,627 [1]
Income tax expense (7,395) (11,929) [1]
Loss from unconsolidated affiliates, net of foreign tax (10,320) (1,243) [1],[2]
Consolidated net income [1] 24,344 30,455 [2]
Net income attributable to noncontrolling interests (216) (468) [1]
Net income attributable to Mueller Industries, Inc. $ 24,128 $ 29,987 [1]
Weighted average shares for basic earnings per share (in shares) 56,900 56,780 [1]
Effect of dilutive stock-based awards (in shares) 517 658 [1]
Adjusted weighted average shares for diluted earnings per share (in shares) 57,417 57,438 [1]
Basic earnings per share (in dollars per share) $ 0.42 $ 0.53 [1]
Diluted earnings per share (in dollars per share) 0.42 0.52 [1]
Dividends per share (in dollars per share) $ 0.1 $ 8.1 [1]
[1] The Condensed Consolidated Statement of Income for the quarter ended April 1, 2017 has been adjusted to reflect the adoption of ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The components of net periodic benefit cost (income) other than the service cost component are included in other income, net in the Condensed Consolidated Statements of Income. Refer to Note 1 for further discussion.
[2] The Condensed Consolidated Statement of Cash Flows for the quarter ended April 1, 2017 has been adjusted to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The Condensed Consolidated Statements of Cash Flows reflects the changes during the periods in the total of cash, cash equivalents, and restricted cash. Therefore, restricted cash activity is included with cash when reconciling the beginning-of-period and end-of-period total amounts shown. Refer to Note 1 for further discussion.