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Unaudited Quarterly Financial Information | 12 Months Ended
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Jan. 02, 2016
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Financial Information |
Note 23. | Unaudited Quarterly Financial Information
Results of operations for each of the four quarters in the respective fiscal years are as follows. Each quarter during fiscal 2015 represents a period of twelve weeks, except the first quarter, which includes sixteen weeks. The first quarter of fiscal 2014 represents sixteen weeks, the second and third quarter of fiscal 2014 represents twelve weeks, and the fourth quarter of fiscal 2014 represents thirteen weeks. During the fourth quarter of fiscal 2014, we revised net sales and revised all prior periods in the fiscal 2014 Form 10-K. Historically, certain immaterial discounts had been recorded as an expense to selling, distribution and administrative costs. These discounts are now recorded as contra revenue. See Note 3, Financial Statement Revisions, for more detailed disclosure.
|  |  |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
|  | (Amounts in thousands, except per share data) |
Sales |  | 2015 |  | $ | 1,146,045 |  |  | $ | 888,795 |  |  | $ | 885,302 |  |  | $ | 858,363 |
|  | 2014 |  | $ | 1,153,917 |  |  | $ | 872,791 |  |  | $ | 844,932 |  |  | $ | 877,333 |
Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately) |  | 2015 |  | $ | 585,916 |  |  | $ | 457,253 |  |  | $ | 464,045 |  |  | $ | 455,939 |
|  | 2014 |  | $ | 595,877 |  |  | $ | 458,019 |  |  | $ | 442,978 |  |  | $ | 453,759 |
Net income |  | 2015 |  | $ | 61,389 |  |  | $ | 51,760 |  |  | $ | 43,796 |  |  | $ | 32,246 |
|  | 2014 |  | $ | 61,066 |  |  | $ | 42,064 |  |  | $ | 44,599 |  |  | $ | 28,010 |
Basic net income per share |  | 2015 |  | $ | 0.29 |  |  | $ | 0.25 |  |  | $ | 0.21 |  |  | $ | 0.15 |
|  | 2014 |  | $ | 0.29 |  |  | $ | 0.20 |  |  | $ | 0.21 |  |  | $ | 0.13 |
Diluted net income per share |  | 2015 |  | $ | 0.29 |  |  | $ | 0.24 |  |  | $ | 0.21 |  |  | $ | 0.15 |
|  | 2014 |  | $ | 0.29 |  |  | $ | 0.20 |  |  | $ | 0.21 |  |  | $ | 0.13 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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