XML 12 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Oct. 01, 2023
Oct. 02, 2022
Oct. 01, 2023
Oct. 02, 2022
Income Statement [Abstract]        
Net sales $ 1,710,419 $ 1,890,216 $ 5,145,492 $ 5,574,530
Cost of sales 1,346,163 1,523,070 4,049,490 4,448,818
Gross profit 364,256 367,146 1,096,002 1,125,712
Selling, general and administrative expenses 182,672 164,552 541,421 533,875
Restructuring/Asset impairment charges 18,110 20,652 52,981 43,357
(Loss)/Gain on divestiture of business and other assets (537) 0 78,844 0
Operating profit 162,937 181,942 580,444 548,480
Other income, net 36,943 0 36,943 0
Non-operating pension costs 3,424 1,249 10,424 4,251
Interest expense 32,847 26,714 101,363 71,242
Interest income 3,173 1,148 6,679 3,450
Income before income taxes 166,782 155,127 512,279 476,437
Provision for income taxes 39,351 36,824 127,003 116,712
Income before equity in earnings of affiliates 127,431 118,303 385,276 359,725
Equity in earnings of affiliates, net of tax 3,627 4,199 8,795 10,151
Net income 131,058 122,502 394,071 369,876
Net income attributable to noncontrolling interests (309) (273) (354) (642)
Net income attributable to Sonoco $ 130,749 $ 122,229 $ 393,717 $ 369,234
Weighted average common shares outstanding:        
Basic (in shares) 98,337 98,013 98,276 97,978
Diluted (in shares) 98,912 98,762 98,800 98,669
Net income attributable to Sonoco:        
Basic (in usd per share) $ 1.33 $ 1.25 $ 4.01 $ 3.77
Diluted (in usd per share) $ 1.32 $ 1.24 $ 3.98 $ 3.74