Segment Information (Tables)

9 Months Ended

Sep. 28, 2019

Segment Reporting [Abstract]

Summary of Segment Information

Summarized segment information is as follows:

	For the Quarter Ended September 28, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations			Total
Net sales	$	390,917	$	135,443	$	90,938	$	(8,696	)	$	608,602
Cost of goods sold	330,418		117,893		70,523		(8,046		)	510,788
Depreciation and amortization	5,751		1,836		2,491		745			10,823
Selling, general, and administrative expense	18,738		3,115		9,961		8,925			40,739
Operating income	36,010		12,599		7,963		(10,320		)	46,252
Interest expense										(6,148		)
Other income, net										533
Income before income taxes										$	40,637

	For the Quarter Ended September 29, 2018
(In thousands)	Piping Systems			Industrial Metals			Climate		Corporate and Eliminations			Total
Net sales	$	410,525		$	158,709		$	81,619	$	(4,895	)	$	645,958
Cost of goods sold	363,174			141,435			66,832		(4,485		)	566,956
Depreciation and amortization	5,946			1,864			2,123		686			10,619
Selling, general, and administrative expense	17,387			3,086			6,890		11,526			38,889
Gain on sale of assets	(1,390		)	(1,301		)	—		—			(2,691		)
Insurance recovery	—			(1,486		)	—		—			(1,486		)
Operating income	25,408			15,111			5,774		(12,622		)	33,671
Interest expense												(6,746		)
Other income, net												411
Income before income taxes												$	27,336

Segment information (continued):

	For the Nine Months Ended September 28, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations			Total
Net sales	$	1,193,274	$	434,037	$	276,853	$	(17,387	)	$	1,886,777
Cost of goods sold	1,019,546		372,542		212,201		(18,160		)	1,586,129
Depreciation and amortization	16,953		5,518		6,932		2,453			31,856
Selling, general, and administrative expense	56,620		9,280		24,336		31,602			121,838
Operating income	100,155		46,697		33,384		(33,282		)	146,954
Interest expense										(20,135		)
Other income, net										823
Income before income taxes										$	127,642

	For the Nine Months Ended September 29, 2018
(In thousands)	Piping Systems			Industrial Metals			Climate		Corporate and Eliminations			Total
Net sales	$	1,294,672		$	511,932		$	156,854	$	(14,667	)	$	1,948,791
Cost of goods sold	1,120,890			445,259			124,806		(14,509		)	1,676,446
Depreciation and amortization	17,568			5,715			3,371		2,427			29,081
Selling, general, and administrative expense	57,931			9,908			12,009		32,229			112,077
(Gain) loss on sale of assets	(2,093		)	(1,301		)	—		3,060			(334		)
Insurance recovery	—			(1,486		)	—		—			(1,486		)
Operating income	100,376			53,837			16,668		(37,874		)	133,007
Interest expense												(18,728		)
Other income, net												1,557
Income before income taxes												$	115,836

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 September 28, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	320,789	$	—	$	—	$	320,789
Brass rod and forgings	—		103,616		—		103,616
OEM components, tube & assemblies	7,059		11,724		32,334		51,117
Valves and plumbing specialties	63,069		—		—		63,069
Other	—		20,103		58,604		78,707
	390,917		135,443		90,938		617,298
Intersegment sales							(8,696		)
Net sales							$	608,602

	For the Quarter Ended September 29, 2018
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	340,269	$	—	$	—	$	340,269
Brass rod and forgings	—		122,411		—		122,411
OEM components, tube & assemblies	7,618		12,292		35,555		55,465
Valves and plumbing specialties	62,638		—		—		62,638
Other	—		24,006		46,064		70,070
	410,525		158,709		81,619		650,853
Intersegment sales							(4,895		)
Net sales							$	645,958

Disaggregation of revenue from contracts with customers (continued):

	For the Nine Months Ended September 28, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	986,783	$	—	$	—	$	986,783
Brass rod and forgings	—		333,622		—		333,622
OEM components, tube & assemblies	21,786		37,613		106,542		165,941
Valves and plumbing specialties	184,705		—		—		184,705
Other	—		62,802		170,311		233,113
	1,193,274		434,037		276,853		1,904,164
Intersegment sales							(17,387		)
Net sales							$	1,886,777

	For the Nine Months Ended September 29, 2018
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	1,077,525	$	—	$	—	$	1,077,525
Brass rod and forgings	—		394,880		—		394,880
OEM components, tube & assemblies	22,128		41,956		110,790		174,874
Valves and plumbing specialties	195,019		—		—		195,019
Other	—		75,096		46,064		121,160
	1,294,672		511,932		156,854		1,963,458
Intersegment sales							(14,667		)
Net sales							$	1,948,791