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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 9 Months Ended
Sep. 26, 2009
Sep. 27, 2008
Sep. 26, 2009
Sep. 27, 2008
Net sales $ 781,254 $ 870,355 $ 1,887,057 $ 2,445,830
Cost of goods sold 371,512 484,716 929,706 1,322,948
Gross profit 409,742 385,639 957,351 1,122,882
Advertising expense 45,853 50,742 103,101 147,199
Selling, general and administrative expense 71,499 67,785 193,461 194,181
Research and development expense 55,507 52,749 166,795 155,904
Total operating expense 172,859 171,276 463,357 497,284
Operating income 236,883 214,363 493,994 625,598
Interest income 6,360 8,435 16,646 26,563
Foreign currency 11,752 (12,744) 4,478 4,818
Gain on sale of equity securities 0 0 0 50,949
Other 1,684 1,358 1,325 2,091
Total other income 19,796 (2,951) 22,449 84,421
Income before income taxes 256,679 211,412 516,443 710,019
Income tax provision 41,546 40,168 90,901 134,904
Net income $ 215,133 $ 171,244 $ 425,542 $ 575,115
Net income per share:
Basic $ 1.07 $ 0.83 $ 2.12 $ 2.71
Diluted $ 1.07 $ 0.82 $ 2.12 $ 2.68
Weighted average common shares outstanding:
Basic 200,546 206,634 200,398 212,299
Diluted 201,599 208,107 201,038 214,252