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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 26, 2020
Sep. 28, 2019
Income Statement [Abstract]        
Net sales $ 619,105 $ 608,602 $ 1,722,192 $ 1,886,777
Cost of goods sold 500,780 510,788 1,412,654 1,586,129
Depreciation and amortization 10,752 10,823 32,888 31,856
Selling, general, and administrative expense 38,346 40,739 114,714 121,838
Asset impairments 0 0 3,035 0
Litigation settlement, net 0 0 (21,933) 0
Operating income 69,227 46,252 180,834 146,954
Interest expense (4,885) (6,148) (15,237) (20,135)
Other income, net 522 533 3,634 823
Income before income taxes 64,864 40,637 169,231 127,642
Income tax expense (15,450) (7,665) (42,623) (27,643)
Loss from unconsolidated affiliates, net of foreign tax (5,457) (2,528) (20,213) (23,740)
Consolidated net income 43,957 30,444 106,395 76,259
Net income attributable to noncontrolling interests (1,255) (1,351) (3,322) (3,457)
Net income attributable to Mueller Industries, Inc. $ 42,702 $ 29,093 $ 103,073 $ 72,802
Weighted average shares for basic earnings per share (in shares) 55,816 55,832 55,805 55,771
Effect of dilutive stock-based awards (in shares) 550 482 534 523
Adjusted weighted average shares for diluted earnings per share (in shares) 56,366 56,314 56,339 56,294
Basic earnings per share (in dollars per share) $ 0.77 $ 0.52 $ 1.85 $ 1.31
Diluted earnings per share (in dollars per share) 0.76 0.52 1.83 1.29
Dividends per share (in dollars per share) $ 0.10 $ 0.10 $ 0.30 $ 0.30