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v3.25.1

Segment Information | 3 Months Ended
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Mar. 28, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information Effective January 1, 2025, the Company has classified its business into three reportable segments: Contractor, Industrial and Expansion Markets. The Industrial segment consists of the newly formed Industrial Division and the Powder Division. The Company’s former Industrial and Lubrication Equipment Divisions, along with the Process Transfer Equipment business that was part of the Company’s former Process Division, were combined to form the new global Industrial Division. The Powder Division remains unchanged. The Expansion Markets segment consists of the Expansion Markets Division. The Company’s environmental, semiconductor, high-pressure valves and electric motors businesses, together with select future ventures and acquisitions, reside within this division. The Contractor segment, consisting of the Contractor Division, remains unchanged as a reporting segment relative to prior periods. Prior year segment information has been recast to conform to the current organizational structure. Segment information follows (in thousands):
| Three Months Ended |  |
| March 28, 2025 |  | March 29, 2024 |  |  |  |
Contractor |  |  |  |  |  |  |
Net Sales | $ | 255,032 |  |  | $ | 230,042 |  |  |  |  |
Cost of products sold | 131,883 |  |  | 110,571 |  |  |  |  |
Gross Profit | 123,149 |  |  | 119,471 |  |  |  |  |
Operating expenses | 61,219 |  |  | 53,330 |  |  |  |  |
Contractor Operating Earnings | $ | 61,930 |  |  | $ | 66,141 |  |  |  |  |
Industrial |  |  |  |  |  |  |
Net Sales | $ | 231,653 |  |  | $ | 224,860 |  |  |  |  |
Cost of products sold | 96,824 |  |  | 94,719 |  |  |  |  |
Gross Profit | 134,829 |  |  | 130,141 |  |  |  |  |
Operating expenses | 55,234 |  |  | 57,052 |  |  |  |  |
Industrial Operating Earnings | $ | 79,595 |  |  | $ | 73,089 |  |  |  |  |
Expansion Markets |  |  |  |  |  |  |
Net Sales | $ | 41,599 |  |  | $ | 37,287 |  |  |  |  |
Cost of products sold | 20,163 |  |  | 18,491 |  |  |  |  |
Gross Profit | 21,436 |  |  | 18,796 |  |  |  |  |
Operating expenses | 11,371 |  |  | 12,044 |  |  |  |  |
Expansion Markets Operating Earnings | $ | 10,065 |  |  | $ | 6,752 |  |  |  |  |
Reportable Segment Operating Earnings Total | $ | 151,590 |  |  | $ | 145,982 |  |  |  |  |
Unallocated corporate expense | 7,577 |  |  | 12,986 |  |  |  |  |
Operating Earnings | 144,013 |  |  | 132,996 |  |  |  |  |
Interest expense | 713 |  |  | 744 |  |  |  |  |
Other (income) expense, net | (8,174) |  |  | (8,078) |  |  |  |  |
Earnings Before Income Taxes | $ | 151,474 |  |  | $ | 140,330 |  |  |  |  |
Geographic information follows (in thousands):
| Three Months Ended |  |
| March 28, 2025 |  | March 29, 2024 |  |  |  |
Net Sales (based on customer location) |  |  |  |  |  |  |
United States | $ | 282,557 |  |  | $ | 267,832 |  |  |  |  |
Other countries | 245,727 |  |  | 224,357 |  |  |  |  |
Total | $ | 528,284 |  |  | $ | 492,189 |  |  |  |  |
| March 28, 2025 |  | December 27, 2024
Long-lived Assets |  |  |
United States | $ | 627,799 |  |  | $ | 635,698 |
Other countries | 137,498 |  |  | 135,958 |
Total | $ | 765,297 |  |  | $ | 771,656 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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