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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2020
Jun. 29, 2019
Sales [1] $ 6,606,494 $ 7,344,548 $ 12,987,911 $ 14,500,539
Cost of sales 5,856,031 6,529,639 11,509,057 12,823,942
Gross profit 750,463 814,909 1,478,854 1,676,597
Operating expenses:        
Selling, general, and administrative expenses 501,470 599,212 1,035,309 1,155,288
Depreciation and amortization 46,812 46,982 93,922 94,508
Loss on disposition of businesses, net 0 0 0 866
Impairments (Notes D and E) 4,918 697,993 4,918 697,993
Restructuring, integration, and other charges 650 19,912 9,788 31,572
Total operating expenses 553,850 1,364,099 1,143,937 1,980,227
Operating income (loss) 196,613 (549,190) 334,917 (303,630)
Equity in earnings (losses) of affiliated companies (283) 382 247 (1,085)
Gain (loss) on investments, net 10,901 1,390 (5,909) 6,738
Employee benefit plan expense (1,173) (1,139) (2,282) (2,278)
Interest and other financing expense, net (31,867) (51,563) (75,135) (103,544)
Income (loss) before income taxes 174,191 (600,120) 251,838 (403,799)
Provision (benefit) for income taxes 40,854 (52,369) 68,746 1,538
Consolidated net income (loss) 133,337 (547,751) 183,092 (405,337)
Noncontrolling interests 533 1,215 785 2,894
Net income (loss) attributable to shareholders $ 132,804 $ (548,966) $ 182,307 $ (408,231)
Net income (loss) per share:        
Basic $ 1.69 $ (6.48) $ 2.29 $ (4.80)
Diluted [2] $ 1.68 $ (6.48) $ 2.28 $ (4.80)
Weighted-average shares outstanding:        
Basic 78,677 84,652 79,527 85,022
Diluted 79,226 84,652 80,113 85,022
[1] Includes sales related to the United States of $2,463,885 and $4,875,972 for the second quarter and first six months of 2020 and $2,902,393 and $5,684,428 for the second quarter and first six months 2019, respectively.
[2] Stock-based compensation awards for the issuance of 1,625 and 1,471 shares for the second quarter and first six months of 2020, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive. As the company reported a net loss attributable to shareholders for the second quarter and first six months of 2019, basic and diluted net loss per share attributable to shareholders are the same and stock-based compensation awards for the issuance of 1,961 and 1,810 shares, respectively, were excluded from the computation of net loss per share on a diluted basis as their effect was anti-dilutive.