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Industry Segments | 12 Months Ended
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Dec. 31, 2011
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] |
Industry Segments | Note 15 – Industry Segments The Company's reportable segments are Plumbing & Refrigeration and OEM. For disclosure purposes, as permitted under ASC 280, Segment Reporting, certain operating segments are aggregated into reportable segments. The Plumbing & Refrigeration segment is composed of Standard Products (SPD), European Operations, and Mexican Operations. The OEM segment is composed of Industrial Products (IPD), Engineered Products (EPD), and Mueller-Xingrong. These segments are classified primarily by the markets for their products. Performance of segments is generally evaluated by their operating income. Intersegment transactions are generally conducted on an arms-length basis. SPD manufactures copper tube and fittings, plastic fittings, plastic pipe, and line sets. These products are manufactured in the U.S. Outside the U.S., the Company's European Operations manufacture copper tube, which is sold in Europe and the Middle East. SPD also imports and resells brass and plastic plumbing valves, malleable iron fittings, faucets, and plumbing specialty products. Mexican Operations consist of pipe nipple manufacturing and import distribution businesses including product lines of malleable iron fittings and other plumbing specialties. The European Operations consist of copper tube manufacturing and the import distribution of fittings, valves, and plumbing specialties primarily in the U.K. and Ireland. The Plumbing & Refrigeration segment's products are sold primarily to plumbing, refrigeration, and air-conditioning wholesalers, hardware wholesalers and co-ops, and building product retailers. IPD manufactures brass rod, impact extrusions, and forgings as well as a variety of end products including plumbing brass, automotive components, valves, and fittings. EPD manufactures and fabricates valves and assemblies for the refrigeration, air-conditioning, gas appliance, and barbecue grill markets and specialty copper, copper-alloy, and aluminum tube. Mueller-Xingrong manufactures engineered copper tube primarily for air-conditioning applications. These products are sold primarily to OEM customers. Summarized product line, geographic, and segment information is shown in the following tables. Geographic sales data indicates the location from which products are shipped. Unallocated expenses include general corporate expenses, plus certain charges or credits not included in segment activity. Worldwide sales to one customer in the Plumbing & Refrigeration segment totaled $175.1 million in 2009, which represented 11 percent of the Company's consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. During 2010 and 2011, no one customer exceeded 10 percent of worldwide sales. Net Sales by Major Product Line:
(In thousands) |  | 2011 |  |  | 2010 |  |  | 2009 |
Tube and fittings |  | $ | 1,082,150 |  |  | $ | 898,615 |  |  | $ | 686,102 |
Brass rod and forgings |  |  | 662,369 |  |  |  | 581,660 |  |  |  | 418,376 |
OEM components, tube & assemblies |  |  | 401,623 |  |  |  | 327,092 |  |  |  | 213,905 |
Valves and plumbing specialties |  |  | 217,985 |  |  |  | 204,074 |  |  |  | 198,333 |
Other |  |  | 53,670 |  |  |  | 48,356 |  |  |  | 30,509 |
|  | $ | 2,417,797 |  |  | $ | 2,059,797 |  |  | $ | 1,547,225 |
Geographic Information:
(In thousands) |  | 2011 |  |  | 2010 |  |  | 2009 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,830,001 |  |  | $ | 1,567,606 |  |  | $ | 1,208,757 |
United Kingdom |  |  | 272,809 |  |  |  | 214,643 |  |  |  | 173,223 |
Other |  |  | 314,987 |  |  |  | 277,548 |  |  |  | 165,245 |
|  | $ | 2,417,797 |  |  | $ | 2,059,797 |  |  | $ | 1,547,225 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 267,060 |  |  | $ | 289,714 |  |  | $ | 309,986 |
United Kingdom |  |  | 23,962 |  |  |  | 24,088 |  |  |  | 27,312 |
Other |  |  | 29,883 |  |  |  | 32,880 |  |  |  | 34,000 |
|  | $ | 320,905 |  |  | $ | 346,682 |  |  | $ | 371,298 |
Net assets of foreign operations at December 31, 2011 included $112.0 million in the United Kingdom, $45.3 million in Mexico, $47.9 million in Luxembourg, and $27.3 million in China. Segment Information:
|  | For the Year Ended December 31, 2011 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 1,330,435 |  |  | $ | 1,119,796 |  |  | $ | (32,434 | ) |  | $ | 2,417,797 |
Cost of goods sold |  |  | 1,139,932 |  |  |  | 1,007,654 |  |  |  | (31,909 | ) |  |  | 2,115,677 |
Depreciation and amortization |  |  | 20,947 |  |  |  | 14,634 |  |  |  | 1,284 |  |  |  | 36,865 |
Selling, general, and administrative expense |  |  | 84,795 |  |  |  | 24,838 |  |  |  | 26,320 |  |  |  | 135,953 |
Litigation settlement |  |  | - |  |  |  | - |  |  |  | (10,500 | ) |  |  | (10,500 | )
Operating income |  |  | 84,761 |  |  |  | 72,670 |  |  |  | (17,629 | ) |  |  | 139,802 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,553 | )
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,912 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 130,161 |
Segment Information (continued):
|  | For the Year Ended December 25, 2010 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 1,115,614 |  |  | $ | 958,855 |  |  | $ | (14,672 | ) |  | $ | 2,059,797 |
Cost of goods sold |  |  | 951,170 |  |  |  | 837,649 |  |  |  | (14,008 | ) |  |  | 1,774,811 |
Depreciation and amortization |  |  | 24,940 |  |  |  | 14,300 |  |  |  | 1,124 |  |  |  | 40,364 |
Selling, general, and administrative expense |  |  | 78,573 |  |  |  | 26,789 |  |  |  | 25,849 |  |  |  | 131,211 |
Insurance settlements |  |  | (22,736 | ) |  |  | - |  |  |  | - |  |  |  | (22,736 | )
Operating income |  |  | 83,667 |  |  |  | 80,117 |  |  |  | (27,637 | ) |  |  | 136,147 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,647 | )
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,650 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 121,850 |
|  | For the Year Ended December 26, 2009 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 892,071 |  |  | $ | 664,088 |  |  | $ | (8,934 | ) |  | $ | 1,547,225 |
Cost of goods sold |  |  | 744,880 |  |  |  | 590,361 |  |  |  | (8,219 | ) |  |  | 1,327,022 |
Depreciation and amortization |  |  | 26,289 |  |  |  | 14,208 |  |  |  | 1,071 |  |  |  | 41,568 |
Selling, general, and administrative expense |  |  | 74,397 |  |  |  | 20,501 |  |  |  | 21,762 |  |  |  | 116,660 |
Impairment charges |  |  | 19,462 |  |  |  | 10,293 |  |  |  | - |  |  |  | 29,755 |
Operating income |  |  | 27,043 |  |  |  | 28,725 |  |  |  | (23,548 | ) |  |  | 32,220 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (9,963 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 872 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 23,129 |
(In thousands) |  | 2011 |  |  | 2010 |  |  | 2009
Expenditures for long-lived assets (including business acquisitions): |  |  |  |  |  |  |  |  |  |  |  |
Plumbing & Refrigeration |  | $ | 12,686 |  |  | $ | 13,774 |  |  | $ | 7,876 |
OEM |  |  | 12,586 |  |  |  | 6,684 |  |  |  | 6,066 |
General corporate |  |  | 361 |  |  |  | 241 |  |  |  | - |
|  | $ | 25,633 |  |  | $ | 20,699 |  |  | $ | 13,942 |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |
Plumbing & Refrigeration |  | $ | 532,458 |  |  | $ | 574,671 |  |  | $ | 542,834 |
OEM |  |  | 296,997 |  |  |  | 296,978 |  |  |  | 284,480 |
General corporate |  |  | 518,149 |  |  |  | 387,347 |  |  |  | 352,827 |
|  | $ | 1,347,604 |  |  | $ | 1,258,996 |  |  | $ | 1,180,141 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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