XML 13 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Income Statement [Abstract]        
Net sales $ 1,623,479 $ 1,705,290 $ 3,261,022 $ 3,435,073
Cost of sales 1,266,125 1,347,972 2,566,115 2,703,327
Gross profit 357,354 357,318 694,907 731,746
Selling, general and administrative expenses 202,210 170,773 395,692 358,749
Restructuring/Asset impairment charges 19,250 6,057 50,868 34,871
Gain on divestiture of business and other assets 4,478 7,371 4,478 79,381
Operating profit 140,372 187,859 252,825 417,507
Other income, net 5,867 0 5,867 0
Non-operating pension costs 4,170 3,342 7,465 7,000
Interest expense 29,640 34,284 60,860 68,516
Interest income 3,555 1,944 7,113 3,506
Income before income taxes 115,984 152,177 197,480 345,497
Provision for income taxes 27,307 40,740 44,667 87,652
Income before equity in earnings of affiliates 88,677 111,437 152,813 257,845
Equity in earnings of affiliates, net of tax 2,274 3,312 3,411 5,168
Net income 90,951 114,749 156,224 263,013
Net income attributable to noncontrolling interests (140) (100) (236) (45)
Net income attributable to Sonoco $ 90,811 $ 114,649 $ 155,988 $ 262,968
Weighted average common shares outstanding:        
Basic (in shares) 98,671 98,325 98,583 98,246
Diluted (in shares) 99,241 98,872 99,199 98,740
Net income attributable to Sonoco:        
Basic (in usd per share) $ 0.92 $ 1.17 $ 1.58 $ 2.68
Diluted (in usd per share) $ 0.92 $ 1.16 $ 1.57 $ 2.66