Segment Information (Tables)

12 Months Ended

Dec. 25, 2021

Segment Reporting [Abstract]

Net sales by Major Product Line

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

	For the Year Ended December 25, 2021
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	2,055,639	$	—	$	—	$	2,055,639
Brass rod and forgings	—		565,870		—		565,870
OEM components, tube & assemblies	32,557		48,572		137,564		218,693
Valves and plumbing specialties	511,834		—		—		511,834
Flex duct and other HVAC components	—		—		357,850		357,850
Other	—		88,921		—		88,921
	$	2,600,030	$	703,363	$	495,414	$	3,798,807
Intersegment sales							(29,462)
Net sales							$	3,769,345

	For the Year Ended December 26, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	1,232,724	$	—	$	—	$	1,232,724
Brass rod and forgings	—		356,547		—		356,547
OEM components, tube & assemblies	56,176		42,127		138,551		236,854
Valves and plumbing specialties	294,102		—		—		294,102
Flex duct and other HVAC components	—		—		231,580		231,580
Other	—		73,485		—		73,485
	$	1,583,002	$	472,159	$	370,131	$	2,425,292
Intersegment sales							(27,249)
Net sales							$	2,398,043

Disaggregation of revenue from contracts with customers (continued):

	For the Year Ended December 28, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	1,271,558	$	—	$	—	$	1,271,558
Brass rod and forgings	—		425,573		—		425,573
OEM components, tube & assemblies	29,103		48,104		133,651		210,858
Valves and plumbing specialties	241,795		—		—		241,795
Flex duct and other HVAC components	—		—		222,565		222,565
Other	—		80,695		—		80,695
	$	1,542,456	$	554,372	$	356,216	$	2,453,044
Intersegment sales							(22,428)
Net sales							$	2,430,616

Summary of Segment Information

Summarized segment information is as follows:

	For the Year Ended December 25, 2021
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	2,600,030	$	703,363	$	495,414	$	(29,462)	$	3,769,345
Cost of goods sold	1,996,610		605,715		367,343		(30,679)		2,938,989
Depreciation and amortization	23,384		6,929		10,379		4,698		45,390
Selling, general, and administrative expense	93,749		11,698		29,327		49,278		184,052
Gain on sale of businesses	—		(6,454)		—		(51,306)		(57,760)
Impairment charges	—		—		2,829		—		2,829
Operating income	486,287		85,475		85,536		(1,453)		655,845
Interest expense									(7,709)
Redemption premium									(5,674)
Environmental expense									(5,053)
Other income, net									3,730
Income before income taxes									$	641,139

Segment information (continued):

	For the Year Ended December 26, 2020
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	1,583,002	$	472,159	$	370,131	$	(27,249)	$	2,398,043
Cost of goods sold	1,311,697		398,000		276,274		(19,810)		1,966,161
Depreciation and amortization	23,071		7,528		10,249		3,995		44,843
Selling, general, and administrative expense	78,744		12,566		26,806		41,367		159,483
Litigation settlement, net	—		—		—		(22,053)		(22,053)
Impairment charges	3,771		—		—		—		3,771
Operating income	165,719		54,065		56,802		(30,748)		245,838
Interest expense									(19,247)
Pension plan termination expense									(17,835)
Environmental expense									(4,454)
Other income, net									4,887
Income before income taxes									$	209,189

	For the Year Ended December 28, 2019
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	1,542,456	$	554,372	$	356,216	$	(22,428)	$	2,430,616
Cost of goods sold	1,313,980		473,010		273,850		(25,230)		2,035,610
Depreciation and amortization	22,621		7,489		9,298		3,285		42,693
Selling, general, and administrative expense	75,170		12,359		30,385		44,444		162,358
Gain on sale of assets, net	(1,194)		275		(44)		—		(963)
Insurance recovery	—		(485)		—		—		(485)
Operating income	131,879		61,724		42,727		(44,927)		191,403
Interest expense									(25,683)
Environmental expense									(1,321)
Other income, net									1,684
Income before income taxes									$	166,083

Geographic Information

Summarized geographic information is as follows:

(In thousands)	2021		2020		2019
Net sales:
United States	$	2,791,571	$	1,765,810	$	1,775,321
United Kingdom	330,908		207,754		230,791
Canada	469,652		293,776		285,720
Asia	83,217		58,256		64,363
Mexico	93,997		72,447		74,421
	$	3,769,345	$	2,398,043	$	2,430,616

Long-lived assets:	2021		2020		2019
United States	$	272,903	$	289,508	$	286,727
United Kingdom	36,529		30,872		18,776
Canada	26,422		29,582		31,429
Asia	48,742		26,107		25,637
Mexico	966		503		559
	$	385,562	$	376,572	$	363,128

Segment Information by Assets

(In thousands)	2021		2020		2019
Expenditures for long-lived assets (including those resulting from business acquisitions):
Piping Systems	$	43,429	$	39,209	$	15,505
Industrial Metals	5,744		5,968		9,101
Climate	12,428		5,521		3,845
General Corporate	3,521		448		2,711
	$	65,122	$	51,146	$	31,162

Segment assets:
Piping Systems	$	1,160,272	$	977,937	$	796,262
Industrial Metals	173,290		152,683		161,904
Climate	250,107		258,668		249,853
General Corporate	145,267		139,280		162,921
	$	1,728,936	$	1,528,568	$	1,370,940