Segment Information (Tables)

9 Months Ended

Sep. 26, 2020

Segment Reporting [Abstract]

Summary of Segment Information

Summarized segment information is as follows:

	For the Quarter Ended September 26, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	409,414	$	118,831	$	97,604	$	(6,744)	$	619,105
Cost of goods sold	339,904		95,717		70,450		(5,291)		500,780
Depreciation and amortization	5,362		1,774		2,547		1,069		10,752
Selling, general, and administrative expense	19,285		2,992		6,451		9,618		38,346
Operating income	44,863		18,348		18,156		(12,140)		69,227
Interest expense									(4,885)
Other income, net									522
Income before income taxes									$	64,864

	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

Segment information (continued):

	For the Nine Months Ended September 26, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	1,128,467	$	338,652	$	276,983	$	(21,910)	$	1,722,192
Cost of goods sold	931,339		285,788		206,083		(10,556)		1,412,654
Depreciation and amortization	16,517		5,771		7,770		2,830		32,888
Selling, general, and administrative expense	54,963		8,690		19,607		31,454		114,714
Asset impairments	3,035		—		—		—		3,035
Litigation settlement, net	—		—		—		(21,933)		(21,933)
Operating income	122,613		38,403		43,523		(23,705)		180,834
Interest expense									(15,237)
Other income, net									3,634
Income before income taxes									$	169,231

	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

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 26, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	320,619	$	—	$	—	$	320,619
Brass rod and forgings	—		89,487		—		89,487
OEM components, tube & assemblies	7,402		11,215		35,957		54,574
Valves and plumbing specialties	81,393		—		—		81,393
Other	—		18,129		61,647		79,776
	409,414		118,831		97,604		625,849
Intersegment sales							(6,744)
Net sales							$	619,105

	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 Nine Months Ended September 26, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	878,764	$	—	$	—	$	878,764
Brass rod and forgings	—		253,647		—		253,647
OEM components, tube & assemblies	49,509		32,524		105,461		187,494
Valves and plumbing specialties	200,194		—		—		200,194
Other	—		52,481		171,522		224,003
	1,128,467		338,652		276,983		1,744,102
Intersegment sales							(21,910)
Net sales							$	1,722,192

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