Segment Information (Tables)

6 Months Ended

Jun. 27, 2020

Segment Reporting [Abstract]

Summary of Segment Information

Summarized segment information is as follows:

	For the Quarter Ended June 27, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	334,040	$	88,619	$	86,107	$	(8,598)	$	500,168
Cost of goods sold	272,271		75,274		64,540		(8,926)		403,159
Depreciation and amortization	5,456		1,995		2,757		889		11,097
Selling, general, and administrative expense	15,239		2,477		6,457		9,443		33,616
Operating income	41,074		8,873		12,353		(10,004)		52,296
Interest expense									(4,973)
Other income, net									2,834
Income before income taxes									$	50,157

	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

Segment information (continued):

	For the Six Months Ended June 27, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	719,053	$	219,821	$	179,379	$	(15,166)	$	1,103,087
Cost of goods sold	591,435		190,071		135,633		(5,265)		911,874
Depreciation and amortization	11,155		3,997		5,223		1,761		22,136
Selling, general, and administrative expense	35,678		5,698		13,156		21,836		76,368
Asset impairments	3,035		—		—		—		3,035
Litigation settlement, net	—		—		—		(21,933)		(21,933)
Operating income	77,750		20,055		25,367		(11,565)		111,607
Interest expense									(10,352)
Other income, net									3,112
Income before income taxes									$	104,367

	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

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 27, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	256,016	$	—	$	—	$	256,016
Brass rod and forgings	—		64,490		—		64,490
OEM components, tube & assemblies	16,812		10,427		32,931		60,170
Valves and plumbing specialties	61,212		—		—		61,212
Other	—		13,702		53,176		66,878
	334,040		88,619		86,107		508,766
Intersegment sales							(8,598)
Net sales							$	500,168

	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 Six Months Ended June 27, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	558,145	$	—	$	—	$	558,145
Brass rod and forgings	—		164,160		—		164,160
OEM components, tube & assemblies	42,107		21,309		69,504		132,920
Valves and plumbing specialties	118,801		—		—		118,801
Other	—		34,352		109,875		144,227
	719,053		219,821		179,379		1,118,253
Intersegment sales							(15,166)
Net sales							$	1,103,087

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