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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
[1]
Income Statement [Abstract]      
Net sales $ 2,430,616 $ 2,507,878 $ 2,266,073
Cost of goods sold 2,035,610 2,150,400 1,940,617
Depreciation and amortization 42,693 39,555 33,944
Selling, general, and administrative expense 162,358 148,888 140,730
Gain on sale of assets, net (963) (253) (1,491) [2]
Impairment charges 0 0 1,466 [2]
Insurance recovery (485) (3,681) 0
Operating income 191,403 172,969 150,807
Interest expense (25,683) (25,199) (19,502)
Environmental expense (1,321) (1,320) (7,284)
Other income, net 1,684 3,967 2,951
Income before income taxes 166,083 150,417 126,972
Income tax expense (35,257) (30,952) (37,884)
Loss from unconsolidated affiliates, net of foreign tax (24,594) (12,645) (2,077) [2]
Consolidated net income 106,232 106,820 87,011 [2]
Net income attributable to noncontrolling interests (5,260) (2,361) (1,413)
Net income attributable to Mueller Industries, Inc. $ 100,972 $ 104,459 $ 85,598
Weighted average shares for basic earnings per share (in shares) 55,798 56,782 56,925
Effect of dilutive stock-based awards (in shares) 545 487 559
Adjusted weighted average shares for diluted earnings per share (in shares) 56,343 57,269 57,484
Basic earnings per share (in dollars per share) $ 1.81 $ 1.84 $ 1.50
Diluted earnings per share (in dollars per share) 1.79 1.82 1.49
Dividends per share (in dollars per share) $ 0.40 $ 0.40 $ 8.40
[1] The Consolidated Statement of Income for 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 in 2018. 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.
[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.