Segment Information (Tables)

6 Months Ended

Jun. 29, 2019

Segment Reporting [Abstract]

Summary of Segment Information

Summarized segment information is as follows:

	For the Quarter Ended June 29, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations			Total
Net sales	$	425,865	$	147,719	$	96,081	$	(3,271	)	$	666,394
Cost of goods sold	364,332		127,950		74,849		(3,183		)	563,948
Depreciation and amortization	5,652		1,838		2,128		860			10,478
Selling, general, and administrative expense	19,985		3,020		6,069		11,372			40,446
Operating income	35,896		14,911		13,035		(12,320		)	51,522
Interest expense										(7,033		)
Other income, net										462
Income before income taxes										$	44,951

	For the Quarter Ended June 30, 2018
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations			Total
Net sales	$	453,183	$	175,891	$	39,172	$	(5,473	)	$	662,773
Cost of goods sold	384,821		154,401		30,688		(6,090		)	563,820
Depreciation and amortization	5,744		1,948		627		687			9,006
Selling, general, and administrative expense	20,599		3,449		2,510		11,870			38,428
Gain on sale of assets	—		—		—		(409		)	(409		)
Operating income	42,019		16,093		5,347		(11,531		)	51,928
Interest expense										(6,073		)
Other income, net										586
Income before income taxes										$	46,441

Segment information (continued):

	For the Six Months Ended June 29, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations			Total
Net sales	$	802,357	$	298,594	$	185,915	$	(8,691	)	$	1,278,175
Cost of goods sold	689,128		254,649		141,678		(10,114		)	1,075,341
Depreciation and amortization	11,202		3,682		4,441		1,708			21,033
Selling, general, and administrative expense	37,882		6,165		14,375		22,677			81,099
Operating income	64,145		34,098		25,421		(22,962		)	100,702
Interest expense										(13,987		)
Other income, net										290
Income before income taxes										$	87,005

	For the Six Months Ended June 30, 2018
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations			Total
Net sales	$	884,147	$	353,223	$	75,235	$	(9,772	)	$	1,302,833
Cost of goods sold	757,716		303,824		57,974		(10,024		)	1,109,490
Depreciation and amortization	11,622		3,851		1,248		1,741			18,462
Selling, general, and administrative expense	39,841		6,822		5,119		20,703			72,485
Loss on sale of assets	—		—		—		3,060			3,060
Operating income	74,968		38,726		10,894		(25,252		)	99,336
Interest expense										(11,982		)
Other income, net										1,146
Income before income taxes										$	88,500

Disaggregation of Revenue From Contracts with Customers

The following tables represent a disaggregation of revenue from contracts with customers, along with the reportable segment for each category:

	For the Quarter Ended June 29, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	358,473	$	—	$	—	$	358,473
Brass rod and forgings	—		114,082		—		114,082
OEM components, tube & assemblies	7,444		12,852		36,965		57,261
Valves and plumbing specialties	59,948		—		—		59,948
Other	—		20,785		59,116		79,901
	425,865		147,719		96,081		669,665
Intersegment sales							(3,271		)
Net sales							$	666,394

	For the Quarter Ended June 30, 2018
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	379,165	$	—	$	—	$	379,165
Brass rod and forgings	—		135,921		—		135,921
OEM components, tube & assemblies	7,448		14,597		39,172		61,217
Valves and plumbing specialties	66,570		—		—		66,570
Other	—		25,373		—		25,373
	453,183		175,891		39,172		668,246
Intersegment sales							(5,473		)
Net sales							$	662,773

Disaggregation of revenue from contracts with customers (continued):

	For the Six Months Ended June 29, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	665,994	$	—	$	—	$	665,994
Brass rod and forgings	—		230,006		—		230,006
OEM components, tube & assemblies	14,727		25,889		74,208		114,824
Valves and plumbing specialties	121,636		—		—		121,636
Other	—		42,699		111,707		154,406
	802,357		298,594		185,915		1,286,866
Intersegment sales							(8,691		)
Net sales							$	1,278,175

	For the Six Months Ended June 30, 2018
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	737,256	$	—	$	—	$	737,256
Brass rod and forgings	—		272,469		—		272,469
OEM components, tube & assemblies	14,510		29,664		75,235		119,409
Valves and plumbing specialties	132,381		—		—		132,381
Other	—		51,090		—		51,090
	884,147		353,223		75,235		1,312,605
Intersegment sales							(9,772		)
Net sales							$	1,302,833