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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 30, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Accounts Receivable Allowances

The following table presents the activity in our accounts receivable allowances (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Additions

​

​

​

​

​

​

​

​

​

Charged to

​

​

​

​

​

​

​

​

Beginning

​

Costs and

​

​

​

Ending

​

​

Balance

​

Expenses

​

Deductions*

​

Balance

Year Ended December 30, 2023:

​

​

​

​

Allowance for possible losses on accounts receivable

​

$

11,727

​

$

56,522

​

$

(63,116)

​

$

5,133

Year Ended December 31, 2022:

​

​

​

​

Allowance for possible losses on accounts receivable

​

$

5,085

​

$

79,862

​

$

(73,220)

​

$

11,727

Year Ended December 25, 2021:

​

​

​

​

Allowance for possible losses on accounts receivable

​

$

4,629

​

$

66,883

​

$

(66,427)

​

$

5,085

* Includes accounts charged off, discounts given to customers and actual customer returns and allowances.

Schedule of Components of Property, Plant and Equipment

​

​	​	​	​	​	​	​
​	​	Year Ended
​		December 30,			December 31,
​	​	2023		​	2022
Land and improvements		$	185,188	​	$	171,729
Building and improvements	​	​	400,232	​	​	355,228
Machinery and equipment	​	​	884,880	​	​	708,095
Furniture and fixtures	​		26,275	​	​	23,186
Construction in progress	​		62,729	​	​	121,730
Total Property, Plant and Equipment, Gross	​	$	1,559,304	​	$	1,379,968

Schedule of Estimated Useful Lives of Property, Plant, and Equipment

​

​	​	​
Land improvements		5 to 15 years
Buildings and improvements		10 to 32 years
Machinery, equipment and office furniture		2 to 20 years

​

Schedule of Disaggregation of revenue

The following table presents our net sales disaggregated by revenue source (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended

​

December 30,

December 31,

​

December 25,

2023 vs. 2022

​

2022 vs. 2021

​

​

2023

​

2022

​

2021

​

% Change

​

% Change

Point in Time Revenue

​

$

7,069,690

​

$

9,442,794

​

$

8,512,012

(25.1)%

​

10.9%

Over Time Revenue

​

148,694

​

​

183,945

​

​

124,122

(19.2)%

​

48.2%

Total Net Sales

​

$

7,218,384

​

$

9,626,739

​

$

8,636,134

(25.0)%

​

11.5%

Schedule of Percentage of Completion Account Balances

The following table presents the balances of over time accounting accounts on December 30, 2023 and December 31, 2022 which are included in “Other current assets” and “Accrued liabilities: Other”, respectively (in thousands):

​	​	​	​	​	​	​
​	​	December 30,		​	December 31,
​		2023			2022
Cost and Earnings in Excess of Billings		$	3,572		$	6,798
Billings in Excess of Cost and Earnings	​		9,487			10,184

Schedule of Computation of earnings per share

The computation of EPS is as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​		December 30,			December 31,			December 25,
​	​	2023		​	2022		​	2021
Numerator:		​			​			​
Net earnings attributable to controlling interest	​	$	514,312	​	$	692,651	​	$	535,640
Adjustment for earnings allocated to non-vested restricted common stock equivalents	​		(25,139)	​		(27,488)	​		(17,342)
Net earnings for calculating EPS	​	$	489,173	​	$	665,163	​	$	518,298
Denominator:	​			​			​
Weighted average shares outstanding	​		62,683	​		62,667	​		62,209
Adjustment for non-vested restricted common stock equivalents	​		(3,064)	​		(2,487)	​		(2,014)
Shares for calculating basic EPS	​		59,619	​		60,180	​		60,195
Effect of dilutive restricted common stock equivalents	​		1,020	​		473	​		159
Shares for calculating diluted EPS	​		60,639	​		60,653	​		60,354
Net earnings per share:	​			​			​
Basic	​	$	8.21	​	$	11.05	​	$	8.61
Diluted	​	$	8.07	​	$	10.97	​	$	8.59

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