XML 57 R48.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segments (Tables)
12 Months Ended
Dec. 30, 2023
Segment Reporting [Abstract]  
Summary of Financial Data Attributable to Operating Segments

The following table represents summary financial data attributable to our operating segments for the years ended December 30, 2023, December 31, 2022, and January 1, 2022. Results of the Southeast segment for the year ended January 1, 2022 includes the results of Eco for its post-acquisition period from February 1, 2021. Results of the Western segment for the year ended December 31, 2022 includes the results of Martin for its post-acquisition period from October 14, 2022, and for the year ended January 1, 2022, includes the results of Anlin for its post-acquisition period from October 25, 2021. Corporate overhead has been allocated to each segment using an allocation method we believe is reasonable (in thousands):

 

 

 

Year Ended

 

 

 

December 30,

 

 

December 31,

 

 

January 1,

 

 

 

2023

 

 

2022

 

 

2022

 

Net sales:

 

 

 

 

 

 

 

 

 

Southeast segment

 

$

1,130,394

 

 

$

1,110,355

 

 

$

968,693

 

Western segment

 

 

373,847

 

 

 

381,599

 

 

 

192,771

 

 

 

 

 

 

 

 

 

 

 

Total net sales

 

$

1,504,241

 

 

$

1,491,954

 

 

$

1,161,464

 

 

 

 

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

 

 

 

 

Southeast segment

 

$

137,150

 

 

$

112,593

 

 

$

74,815

 

Western segment

 

 

49,298

 

 

 

55,190

 

 

 

25,641

 

Impairment of trade name (1)

 

 

(5,500

)

 

 

(7,423

)

 

 

 

Restructuring costs and charges, net (2)

 

 

(1,722

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total income from operations

 

 

179,226

 

 

 

160,360

 

 

 

100,456

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

31,077

 

 

 

28,879

 

 

 

30,029

 

Debt extinguishment costs

 

 

-

 

 

 

410

 

 

 

25,472

 

 

 

 

 

 

 

 

 

 

 

Total income before income taxes

 

$

148,149

 

 

$

131,071

 

 

$

44,955

 

 

(1)
In 2023, impairment to our Martin trade name, which is part of our Western segment. In 2022, impairment relates to our WinDoor trade name, which is part of our Southeast segment.

 

(2)
Restructuring costs and charges, net, relates to our NewSouth brand, which is part of our Southeast segment.