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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Income Statement [Abstract]        
Net sales $ 997,745 $ 896,984 $ 1,847,399 $ 1,868,176
Cost of goods sold 724,990 639,272 1,333,693 1,318,070
Depreciation and amortization 10,018 10,416 19,187 21,073
Selling, general, and administrative expense 52,731 56,062 101,088 108,693
Gain on insurance settlement 0 (19,466) 0 (19,466)
Operating income 210,006 210,700 393,431 439,806
Interest expense (107) (135) (222) (278)
Interest income 14,383 7,732 31,628 13,967
Realized and unrealized gains on short-term investments 0 20,820 365 22,730
Other (expense) income, net (1,356) 1,841 (726) 2,167
Income before income taxes 222,926 240,958 424,476 478,392
Income tax expense (58,384) (62,122) (110,218) (123,479)
(Loss) income from unconsolidated affiliates, net of foreign tax (1,095) 715 (9,102) (269)
Consolidated net income 163,447 179,551 305,156 354,644
Net income attributable to noncontrolling interests (3,282) (1,840) (6,628) (3,694)
Net income attributable to Mueller Industries, Inc. $ 160,165 $ 177,711 $ 298,528 $ 350,950
Weighted average shares for basic earnings per share (in shares) [1] 111,216 111,320 111,316 111,354
Effect of dilutive stock-based awards (in shares) [1] 2,763 2,680 2,746 2,046
Adjusted weighted average shares for diluted earnings per share (in shares) [1] 113,979 114,000 114,062 113,400
Basic earnings per share (in dollars per share) [1] $ 1.44 $ 1.60 $ 2.68 $ 3.15
Diluted earnings per share (in dollars per share) [1] 1.41 1.56 2.62 3.09
Dividends per share (in dollars per share) [1] $ 0.20 $ 0.15 $ 0.40 $ 0.30
[1] Adjusted retroactively to reflect the two-for-one stock split that occurred on October 20, 2023. Refer to Note 2 - Earnings per Common Share for additional information.

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