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Quarterly Financial Information (unaudited) | 12 Months Ended
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Jan. 02, 2021
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information (unaudited) | Note 17 – Quarterly Financial Information (Unaudited) Earnings per share amounts for each quarter are required to be computed independently and may not sum to the amount computed for the total year.
| 2020 |
| Full Year |  |  | 4th Quarter |  |  | 3rd Quarter |  |  | 2nd Quarter |  |  | 1st Quarter |
(In thousands, except per share amounts) | (53 Weeks) |  |  | (13 Weeks) |  |  | (12 Weeks) |  |  | (12 Weeks) |  |  | (16 Weeks) |
Net sales | $ |  | 9,348,485 |  |  | $ |  | 2,247,112 |  |  | $ |  | 2,060,816 |  |  | $ |  | 2,184,101 |  |  | $ |  | 2,856,456 |
Gross profit |  |  | 1,424,965 |  |  |  |  | 338,202 |  |  |  |  | 324,822 |  |  |  |  | 338,374 |  |  |  |  | 423,567 |
Restructuring, asset impairment and other charges |  |  | 24,398 |  |  |  |  | 3,943 |  |  |  |  | 6,543 |  |  |  |  | 3,675 |  |  |  |  | 10,237 |
Earnings before income taxes |  |  | 85,364 |  |  |  |  | 14,030 |  |  |  |  | 25,516 |  |  |  |  | 30,385 |  |  |  |  | 15,433 |
Net earnings | $ |  | 75,914 |  |  | $ |  | 12,093 |  |  | $ |  | 19,952 |  |  | $ |  | 28,467 |  |  | $ |  | 15,402 |
Earnings from continuing operations per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ |  | 2.12 |  |  | $ |  | 0.34 |  |  | $ |  | 0.56 |  |  | $ |  | 0.80 |  |  | $ |  | 0.43 |
Diluted |  |  | 2.12 |  |  |  |  | 0.34 |  |  |  |  | 0.56 |  |  |  |  | 0.80 |  |  |  |  | 0.43 |
Net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ |  | 2.12 |  |  | $ |  | 0.34 |  |  | $ |  | 0.56 |  |  | $ |  | 0.80 |  |  | $ |  | 0.43 |
Diluted |  |  | 2.12 |  |  |  |  | 0.34 |  |  |  |  | 0.56 |  |  |  |  | 0.80 |  |  |  |  | 0.43 |
Dividends | $ |  | 27,701 |  |  | $ |  | 6,905 |  |  | $ |  | 6,901 |  |  | $ |  | 6,898 |  |  | $ |  | 6,997 |
| 2019 |
| Full Year |  |  | 4th Quarter |  |  | 3rd Quarter |  |  | 2nd Quarter |  |  | 1st Quarter |
(In thousands, except per share amounts) | (52 Weeks) |  |  | (12 Weeks) |  |  | (12 Weeks) |  |  | (12 Weeks) |  |  | (16 Weeks) |
Net sales | $ |  | 8,536,065 |  |  | $ |  | 1,997,953 |  |  | $ |  | 1,999,808 |  |  | $ |  | 1,995,929 |  |  | $ |  | 2,542,375 |
Gross profit |  |  | 1,243,830 |  |  |  |  | 286,733 |  |  |  |  | 290,361 |  |  |  |  | 289,007 |  |  |  |  | 377,729 |
Merger/acquisition and integration |  |  | 1,437 |  |  |  |  | 73 |  |  |  |  | — |  |  |  |  | 582 |  |  |  |  | 782 |
Restructuring, asset impairment and other charges (gains) |  |  | 13,050 |  |  |  |  | 2,835 |  |  |  |  | 1,296 |  |  |  |  | 14,581 |  |  |  |  | (5,662 | )
Postretirement benefit expense |  |  | 19,803 |  |  |  |  | 126 |  |  |  |  | 10,221 |  |  |  |  | 8,821 |  |  |  |  | 635 |
Earnings (loss) before income taxes and discontinued operations |  |  | 3,575 |  |  |  |  | 5,104 |  |  |  |  | (1,966 | ) |  |  |  | (9,708 | ) |  |  |  | 10,145 |
Earnings (loss) from continuing operations |  |  | 5,917 |  |  |  |  | 5,473 |  |  |  |  | (310 | ) |  |  |  | (6,767 | ) |  |  |  | 7,521 |
Loss from discontinued operations, net of taxes |  |  | (175 | ) |  |  |  | (49 | ) |  |  |  | (27 | ) |  |  |  | (47 | ) |  |  |  | (52 | )
Net earnings (loss) | $ |  | 5,742 |  |  | $ |  | 5,424 |  |  | $ |  | (337 | ) |  | $ |  | (6,814 | ) |  | $ |  | 7,469 |
Earnings (loss) from continuing operations per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ |  | 0.16 |  |  | $ |  | 0.15 |  |  | $ |  | (0.01 | ) |  | $ |  | (0.19 | ) |  | $ |  | 0.21 |
Diluted |  |  | 0.16 |  |  |  |  | 0.15 |  |  |  |  | (0.01 | ) |  |  |  | (0.19 | ) |  |  |  | 0.21 |
Net earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ |  | 0.16 |  |  | $ |  | 0.15 |  |  | $ |  | (0.01 | ) |  | $ |  | (0.19 | ) |  | $ |  | 0.21 |
Diluted |  |  | 0.16 |  |  |  |  | 0.15 |  |  |  |  | (0.01 | ) |  |  |  | (0.19 | ) |  |  |  | 0.21 |
Dividends | $ |  | 27,616 |  |  | $ |  | 6,907 |  |  | $ |  | 6,905 |  |  | $ |  | 6,902 |  |  | $ |  | 6,902 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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