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v3.8.0.1

Consolidated Statements of Net Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 30, 2017 | Dec. 31, 2016 | Jan. 02, 2016
Net sales | $ 1,221,534 | $ 1,056,159 | $ 867,864
Cost of sales | 715,001 | 643,042 | 537,365
Gross profit | 506,533 | 413,117 | 330,499
Selling, general, and administrative expenses | 212,833 | 206,129 | 153,714
Research and development expenses | 50,489 | 42,198 | 30,802
Pension settlement expenses |  |  | 29,928
Amortization of intangibles | 24,700 | 19,337 | 11,898
Impairment of goodwill and intangible assets |  | 14,809 |
Total operating expenses | 288,022 | 282,473 | 226,342
Operating income | 218,511 | 130,644 | 104,157
Interest expense | 13,380 | 8,628 | 4,091
Foreign exchange loss (gain) | 2,376 | 472 | (1,465)
Other (income) expense, net | (1,282) | (1,730) | (5,417)
Income before income taxes | 204,037 | 123,274 | 106,948
Income taxes | 84,518 | 18,786 | 26,082
Net income | $ 119,519 | $ 104,488 | $ 80,866
Income per share: |  |  |
Basic (in dollars per share) | $ 5.27 | $ 4.63 | $ 3.58
Diluted (in dollars per share) | $ 5.21 | $ 4.60 | $ 3.56
Weighted-average shares and equivalent shares outstanding: |  |  |
Basic (in shares) | 22,687 | 22,559 | 22,565
Diluted (in shares) | 22,931 | 22,727 | 22,719

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