SEGMENT INFORMATION

9 Months Ended

Sep. 26, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

15. SEGMENT INFORMATION

The Company has two reportable segments, Manufacturing and Distribution, which are based on its method of internal reporting, which segregates its businesses based on the manner in which its chief operating decision maker allocates resources, evaluates financial results, and determines compensation.

The tables below present information about the sales and operating income of those segments. 

Third Quarter Ended September 26, 2021
(thousands)	Manufacturing		Distribution		Total
Net outside sales	$	772,235	$	287,942	$	1,060,177
Intersegment sales	20,064		1,880		21,944
Total sales	792,299		289,822		1,082,121
Operating income	91,370		31,187		122,557

Third Quarter Ended September 27, 2020
(thousands)	Manufacturing		Distribution		Total
Net outside sales	$	494,274	$	206,433	$	700,707
Intersegment sales	12,004		1,640		13,644
Total sales	506,278		208,073		714,351
Operating income	63,312		16,444		79,756

Nine Months Ended September 26, 2021
(thousands)	Manufacturing		Distribution		Total
Net outside sales	$	2,102,032	$	828,581	$	2,930,613
Intersegment sales	49,914		4,800		54,714
Total sales	2,151,946		833,381		2,985,327
Operating income	269,227		83,563		352,790

Nine Months Ended September 27, 2020
(thousands)	Manufacturing		Distribution		Total
Net outside sales	$	1,206,114	$	507,870	$	1,713,984
Intersegment sales	24,691		4,025		28,716
Total sales	1,230,805		511,895		1,742,700
Operating income	131,426		33,350		164,776

The following table presents a reconciliation of segment operating income to consolidated operating income:

	Third Quarter Ended				Nine Months Ended
(thousands)	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Operating income for reportable segments	$	122,557	$	79,756	$	352,790	$	164,776
Unallocated corporate expenses	(14,526)		(9,706)		(55,075)		(23,962)
Amortization	(14,758)		(10,221)		(40,695)		(29,600)
Consolidated operating income	$	93,273	$	59,829	$	257,020	$	111,214

Unallocated corporate expenses include corporate general and administrative expenses comprised of wages, insurance, taxes, supplies, travel and entertainment, professional fees and other.

The following table presents an allocation of total assets to the reportable segments of the Company and a reconciliation to consolidated total assets:

(thousands)	September 26, 2021		December 31, 2020
Manufacturing assets	$	1,838,583	$	1,337,920
Distribution assets	453,839		343,170
Assets for reportable segments	2,292,422		1,681,090
Corporate assets unallocated to segments	21,154		27,578
Cash and cash equivalents	44,882		44,767
Consolidated total assets	$	2,358,458	$	1,753,435