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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jul. 03, 2016 | Jun. 28, 2015 | Jul. 03, 2016 | Jun. 28, 2015
Sales | $ 3,492.6 | $ 3,486.6 | $ 6,798.9 | $ 7,103.1
Cost of sales | 3,035.6 | 3,068.1 | 5,929.5 | 6,278.5
Gross profit | 457.0 | 418.5 | 869.4 | 824.6
Selling, general and administrative expenses | 227.8 | 232.6 | 435.9 | 454.5
(Income) loss from equity method investments | (7.9) | (0.2) | (13.7) | (4.2)
Operating profit | 237.1 | 186.1 | 447.2 | 374.3
Interest expense | 32.8 | 31.5 | 64.8 | 66.2
Nonoperating income | 0.0 | (0.7) | 0.0 | 12.1
Income before income taxes | 204.3 | 155.3 | 382.4 | 296.0
Income tax (benefit) expense | 66.5 | 51.1 | 123.6 | 94.8
Net income | $ (137.8) | $ (104.2) | $ (258.8) | $ (201.2)

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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(12)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(10)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3602-108585 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66022249&loc=d3e33749-111570 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(13)(f)) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 + Details
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