XML 45 R33.htm IDEA: XBRL DOCUMENT v3.23.3
Segment Information - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 24, 2022
Sep. 30, 2023
Sep. 24, 2022
Dec. 31, 2022
Summary of segment information [Abstract]          
Net sales $ 819,792 $ 944,830 $ 2,687,968 $ 3,104,874  
Cost of goods sold 579,058 678,637 1,897,128 2,244,062  
Depreciation and amortization 9,631 10,850 30,704 32,993  
Selling, general, and administrative expense 48,295 50,178 156,988 146,590  
Gain on sale of assets 0 0 0 5,507  
Gain on sale of business (4,137) 0 (4,137) 0  
Asset impairments 5,934 0 5,934 0  
Gain on insurance settlement 0 0 (19,466) 0  
Operating income 181,011 205,165 620,817 686,736  
Interest expense (230) (361) (508) (666)  
Interest income 10,599 1,356 24,566 1,619  
Unrealized gain on short-term investments (2,371) 0 18,449 0  
Other (expense) income, net (44) (326) 4,033 2,394  
Income before income taxes 188,965 205,834 667,357 690,083  
Assets 2,663,741   2,663,741   $ 2,242,399
Operating Segments          
Summary of segment information [Abstract]          
Net sales 829,112 954,338 2,718,004 3,141,168  
Operating Segments | Piping Systems          
Summary of segment information [Abstract]          
Net sales 568,151 634,808 1,868,635 2,163,045  
Cost of goods sold 394,736 440,216 1,315,212 1,539,493  
Depreciation and amortization 5,025 5,516 15,835 16,846  
Selling, general, and administrative expense 21,847 21,137 76,049 66,700  
Gain on sale of assets       0  
Gain on sale of business 0   0    
Asset impairments 5,934   5,934    
Gain on insurance settlement     0    
Operating income 140,609 167,939 455,605 540,006  
Assets 1,083,888   1,083,888   1,088,940
Operating Segments | Industrial Metals          
Summary of segment information [Abstract]          
Net sales 141,012 144,880 452,512 498,367  
Cost of goods sold 119,108 128,152 375,375 424,802  
Depreciation and amortization 1,835 1,846 5,411 5,636  
Selling, general, and administrative expense 3,848 2,805 10,319 8,425  
Gain on sale of assets       0  
Gain on sale of business 0   0    
Asset impairments 0   0    
Gain on insurance settlement     0    
Operating income 16,221 12,077 61,407 59,504  
Assets 168,608   168,608   160,702
Operating Segments | Climate          
Summary of segment information [Abstract]          
Net sales 119,949 174,650 396,857 479,756  
Cost of goods sold 76,133 114,850 242,009 311,917  
Depreciation and amortization 1,618 2,289 5,973 6,989  
Selling, general, and administrative expense 7,352 10,049 22,440 25,941  
Gain on sale of assets       0  
Gain on sale of business 0   0    
Asset impairments 0   0    
Gain on insurance settlement     (19,466)    
Operating income 34,846 47,462 145,901 134,909  
Assets 257,832   257,832   279,940
Corporate and Eliminations          
Summary of segment information [Abstract]          
Net sales (9,320) (9,508) (30,036) (36,294)  
Cost of goods sold (10,919) (4,581) (35,468) (32,150)  
Depreciation and amortization 1,153 1,199 3,485 3,522  
Selling, general, and administrative expense 15,248 16,187 48,180 45,524  
Gain on sale of assets       5,507  
Gain on sale of business (4,137)   (4,137)    
Asset impairments 0   0    
Gain on insurance settlement     0    
Operating income (10,665) $ (22,313) (42,096) $ (47,683)  
Assets $ 1,153,413   $ 1,153,413   $ 712,817