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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 29, 2018
Dec. 30, 2017
[1]
Dec. 31, 2016
[1]
Income Statement [Abstract]      
Net sales $ 2,507,878 $ 2,266,073 $ 2,055,622
Cost of goods sold 2,150,400 1,940,617 1,723,499
Depreciation and amortization 39,555 33,944 35,133
Selling, general, and administrative expense 148,888 140,730 135,811
Gain on sale of assets, net (253) (1,491) [2] 0 [2]
Impairment charges 0 1,466 [2] 6,778 [2]
Insurance recovery (3,681) 0 0
Operating income 172,969 150,807 154,401
Interest expense (25,199) (19,502) (7,387)
Environmental expense (1,320) (7,284) (1,279)
Other income, net 3,967 2,951 295
Income before income taxes 150,417 126,972 146,030
Income tax expense (30,952) (37,884) (48,137)
(Loss) income from unconsolidated affiliates, net of foreign tax (12,645) (2,077) [2] 1,861 [2]
Consolidated net income 106,820 87,011 [2] 99,754 [2]
Net income attributable to noncontrolling interests (2,361) (1,413) (27)
Net income attributable to Mueller Industries, Inc. $ 104,459 $ 85,598 $ 99,727
Weighted average shares for basic earnings per share (in shares) 56,782 56,925 56,572
Effect of dilutive stock-based awards (in shares) 487 559 597
Adjusted weighted average shares for diluted earnings per share (in shares) 57,269 57,484 57,169
Basic earnings per share (in dollars per share) $ 1.84 $ 1.50 $ 1.76
Diluted earnings per share (in dollars per share) 1.82 1.49 1.74
Dividends per share (in dollars per share) $ 0.4 $ 8.4 $ 0.375
[1] The Consolidated Statements of Income for prior periods have 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 Consolidated Statements of Income. Refer to Note 1 for further discussion.
[2] The Consolidated Statements of Cash Flows for prior periods have been adjusted to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The Consolidated Statements of Cash Flows reflect 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.