Segment Information (Tables)

3 Months Ended

Apr. 01, 2023

Segment Reporting [Abstract]

Schedule of Segment Information

Summarized segment information is as follows:

	For the Quarter Ended April 1, 2023
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	662,479	$	165,234	$	152,954	$	(9,475)	$	971,192
Cost of goods sold	467,610		133,170		88,812		(10,794)		678,798
Depreciation and amortization	5,558		1,772		2,153		1,174		10,657
Selling, general, and administrative expense	25,457		3,077		8,001		16,096		52,631
Operating income	163,854		27,215		53,988		(15,951)		229,106
Interest expense									(143)
Interest income									6,235
Other income, net									2,236
Income before income taxes									$	237,434

Segment information (continued):

	For the Quarter Ended March 26, 2022
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total
Net sales	$	703,430	$	174,312	$	140,622	$	(8,362)	$	1,010,002
Cost of goods sold	514,187		145,710		93,957		(9,343)		744,511
Depreciation and amortization	5,400		1,944		2,352		1,145		10,841
Selling, general, and administrative expense	23,355		3,399		7,613		13,089		47,456
Gain on sale of assets	—		—		—		(5,507)		(5,507)
Operating income	160,488		23,259		36,700		(7,746)		212,701
Interest expense									(158)
Interest income									160
Other income, net									620
Income before income taxes									$	213,323

The following table presents total assets attributable to each segment:

(In thousands)	April 1, 2023		December 31, 2022
Segment assets:
Piping Systems	$	1,196,717	$	1,088,940
Industrial Metals	173,429		160,702
Climate	270,993		279,940
General Corporate	838,482		712,817
	$	2,479,621	$	2,242,399

Schedule of 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 April 1, 2023
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	544,228	$	—	$	—	$	544,228
Brass rod and forgings	—		130,340		—		130,340
OEM components, tube & assemblies	—		22,509		33,402		55,911
Valves and plumbing specialties	118,251		—		—		118,251
Flex duct and other HVAC components	—		—		119,552		119,552
Other	—		12,385		—		12,385
	662,479		165,234		152,954		980,667
Intersegment sales							(9,475)
Net sales							$	971,192

	For the Quarter Ended March 26, 2022
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	571,510	$	—	$	—	$	571,510
Brass rod and forgings	—		136,533		—		136,533
OEM components, tube & assemblies	—		20,096		29,092		49,188
Valves and plumbing specialties	131,920		—		—		131,920
Flex duct and other HVAC components	—		—		111,530		111,530
Other	—		17,683		—		17,683
	703,430		174,312		140,622		1,018,364
Intersegment sales							(8,362)
Net sales							$	1,010,002