Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Comprehensive Income

v3.20.4
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jan. 02, 2021
Dec. 28, 2019
Dec. 29, 2018
Net sales $ 1,134,644 $ 1,060,902 $ 1,189,248
Cost of sales 209,111 187,503 200,710
Gross profit 925,533 873,399 988,538
Operating expenses:      
Associate incentives 487,856 459,478 525,126
Selling, general and administrative 261,186 267,731 275,059
Total operating expenses 749,042 727,209 800,185
Earnings from operations 176,491 146,190 188,353
Other income (expense):      
Interest income 2,535 4,707 4,427
Interest expense (507) (66) (36)
Other, net (571) (335) (1,234)
Other income (expense), net 1,457 4,306 3,157
Earnings before income taxes 177,948 150,496 191,510
Income taxes 53,284 49,970 65,286
Net earnings $ 124,664 $ 100,526 $ 126,224
Earnings per common share      
Basic (in dollars per share) $ 5.89 $ 4.44 $ 5.24
Diluted (in dollars per share) $ 5.86 $ 4.41 $ 5.12
Weighted average common shares outstanding      
Basic (in shares) 21,156 22,644 24,105
Diluted (in shares) 21,256 22,818 24,642
Comprehensive income:      
Net earnings $ 124,664 $ 100,526 $ 126,224
Other comprehensive income (loss), net of tax:      
Foreign currency translation adjustment 13,327 (2,736) (10,860)
Tax benefit (expense) related to foreign currency translation adjustment (3,051) (778) 1,899
Other comprehensive income (loss), net of tax 10,276 (3,514) (8,961)
Comprehensive income $ 134,940 $ 97,012 $ 117,263