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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
Income Statement [Abstract] |  |  |
Net Sales | $ 8,351,931 | $ 7,911,046 | $ 7,256,382
Cost of merchandise sold | 5,480,161 | 5,208,518 | 4,764,417
Gross profit | 2,871,770 | 2,702,528 | 2,491,965
Selling, general and administrative expenses | 1,932,572 | 1,823,440 | 1,639,749
Depreciation and amortization | 195,978 | 177,351 | 165,834
Operating income | 743,220 | 701,737 | 686,382
Interest expense, net | 19,843 | 18,352 | 13,859
Income before income taxes | 723,377 | 683,385 | 672,523
Income tax expense | 161,023 | 151,028 | 249,924
Net income | $ 562,354 | $ 532,357 | $ 422,599
Net income per share – basic | $ 4.70 | $ 4.34 | $ 3.31
Net income per share – diluted | $ 4.66 | $ 4.31 | $ 3.30
Weighted average shares outstanding |  |  |
Basic | 119,727 | 122,651 | 127,588
Shares, diluted | 120,743 | 123,471 | 128,204
Dividends declared per common share outstanding | $ 1.36 | $ 1.20 | $ 1.05

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