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Segment Information (Tables)

12 Months Ended

Dec. 30, 2023

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 30, 2023
(In thousands)	Piping Systems		Industrial Metals		Climate		Total

Tube and fittings	$	1,926,975	$	—	$	—	$	1,926,975
Brass rod and forgings	—		454,246		—		454,246
OEM components and valves	—		79,879		120,923		200,802
Valves and plumbing specialties	455,598		—		—		455,598
Flex duct and other HVAC components	—		—		379,867		379,867
Other	—		43,750		—		43,750

	$	2,382,573	$	577,875	$	500,790	$	3,461,238

Intersegment sales							(40,893)

Net sales							$	3,420,345

Disaggregation of revenue from contracts with customers (continued):


	For the Year Ended December 31, 2022
(In thousands)	Piping Systems		Industrial Metals		Climate		Total

Tube and fittings	$	2,211,963	$	—	$	—	$	2,211,963
Brass rod and forgings	—		510,865		—		510,865
OEM components, tube & assemblies	—		74,647		121,004		195,651
Valves and plumbing specialties	518,121		—		—		518,121
Flex duct and other HVAC components	—		—		529,303		529,303
Other	—		59,177		—		59,177

	$	2,730,084	$	644,689	$	650,307	$	4,025,080

Intersegment sales							(42,625)

Net sales							$	3,982,455


	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

Summarized segment information is as follows:


	For the Year Ended December 30, 2023
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total

Net sales	$	2,382,573	$	577,875	$	500,790	$	(40,893)	$	3,420,345

Cost of goods sold	1,686,792		480,510		311,875		(45,666)		2,433,511
Depreciation and amortization	20,461		7,273		7,567		4,653		39,954
Selling, general, and administrative expense	99,823		13,713		28,950		65,686		208,172

Gain on sale of businesses	—		—		—		(4,137)		(4,137)

Impairment charges	6,258		—		—		—		6,258
Gain on insurance settlement	—		—		(19,466)		—		(19,466)

Operating income	569,239		76,379		171,864		(61,429)		756,053

Interest expense									(1,221)
Interest income									38,208
Realized and unrealized gains on short-term investments									41,865

Gain on extinguishment of NMTC liability									7,534
Environmental expense									(825)
Other income, net									3,618

Income before income taxes									$	845,232


	For the Year Ended December 31, 2022
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Eliminations		Total

Net sales	$	2,730,084	$	644,689	$	650,307	$	(42,625)	$	3,982,455

Cost of goods sold	1,943,174		543,004		416,953		(38,269)		2,864,862
Depreciation and amortization	22,193		7,647		9,174		4,717		43,731
Selling, general, and administrative expense	93,655		11,574		36,113		61,744		203,086

Gain on sale of assets	—		—		—		(6,373)		(6,373)




Operating income	671,062		82,464		188,067		(64,444)		877,149

Interest expense									(810)
Interest income									6,457
Pension plan termination expense									(13,100)
Realized and unrealized gains on short-term investments									2,918
Environmental expense									(1,298)
Other income, net									4,715

Income before income taxes									$	876,031

Segment information (continued):


	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)
Interest income									353
Redemption premium									(5,674)

Environmental expense									(5,053)
Other income, net									3,377

Income before income taxes									$	641,139

Summarized geographic information is as follows:


(In thousands)	2023		2022		2021

Expenditures for long-lived assets (including those resulting from business acquisitions):
Piping Systems	$	19,118	$	20,694	$	43,429
Industrial Metals	9,406		6,905		5,744
Climate	15,407		2,611		12,428
General Corporate	10,094		7,429		3,521

	$	54,025	$	37,639	$	65,122