v3.23.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 01, 2023
Oct. 02, 2022
Oct. 01, 2023
Oct. 02, 2022
Net sales $ 3,029,987 $ 2,728,153 $ 8,507,881 $ 7,766,956
Cost of sales 1,669,734 1,619,653 4,633,207 4,412,977
Gross profit 1,360,253 1,108,500 3,874,674 3,353,979
Selling, marketing and administrative expense 624,304 551,880 1,777,695 1,619,564
Business realignment costs 0 0 441 274
Operating profit 735,949 556,620 2,096,538 1,734,141
Interest expense, net 39,755 35,378 114,101 101,970
Other (income) expense, net 42,781 48,157 130,248 78,222
Income before income taxes 653,413 473,085 1,852,189 1,553,949
Provision for income taxes 134,836 73,598 339,444 305,428
Net income $ 518,577 $ 399,487 $ 1,512,745 $ 1,248,521
Common stock        
Net income per share—basic:        
Net income per share - basic (USD per share) $ 2.60 $ 2.00 $ 7.56 $ 6.23
Net income per share—diluted:        
Net income per share - diluted (USD per share) 2.52 1.94 7.36 6.04
Dividends paid per share:        
Dividends paid per share (USD per share) 1.192 1.036 3.264 2.838
Class B common stock        
Net income per share—basic:        
Net income per share - basic (USD per share) 2.36 1.82 6.93 5.67
Net income per share—diluted:        
Net income per share - diluted (USD per share) 2.36 1.81 6.91 5.65
Dividends paid per share:        
Dividends paid per share (USD per share) $ 1.083 $ 0.942 $ 2.967 $ 2.580