XML 28 R37.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Industry Segments (Tables) | 12 Months Ended
--- | ---
Dec. 28, 2013
Industry Segments [Abstract] |
Net Sales by Major Product Line | Net Sales by Major Product Line:
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
Tube and fittings |  | $ | 972,107 |  |  | $ | 986,825 |  |  | $ | 1,082,150 |
Brass rod and forgings |  |  | 553,896 |  |  |  | 583,940 |  |  |  | 662,369 |
OEM components, tube & assemblies |  |  | 337,772 |  |  |  | 335,461 |  |  |  | 401,623 |
Valves and plumbing specialties |  |  | 239,822 |  |  |  | 231,278 |  |  |  | 217,985 |
Other |  |  | 54,944 |  |  |  | 52,434 |  |  |  | 53,670 |
|  | $ | 2,158,541 |  |  | $ | 2,189,938 |  |  | $ | 2,417,797 |
Geographic Information | Geographic Information:
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,676,385 |  |  | $ | 1,696,589 |  |  | $ | 1,830,001 |
United Kingdom |  |  | 229,659 |  |  |  | 234,684 |  |  |  | 272,809 |
Other |  |  | 252,497 |  |  |  | 258,665 |  |  |  | 314,987 |
|  | $ | 2,158,541 |  |  | $ | 2,189,938 |  |  | $ | 2,417,797 |
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 325,667 |  |  | $ | 306,023 |  |  | $ | 267,060 |
United Kingdom |  |  | 22,159 |  |  |  | 23,496 |  |  |  | 23,962 |
Other |  |  | 25,224 |  |  |  | 27,442 |  |  |  | 29,883 |
|  | $ | 373,050 |  |  | $ | 356,961 |  |  | $ | 320,905 |
Summary of segment information | Segment Information:
|  | For the Year Ended December 28, 2013 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 1,225,306 |  |  | $ | 947,784 |  |  | $ | (14,549 | ) |  | $ | 2,158,541 |
Cost of goods sold |  |  | 1,043,059 |  |  |  | 833,518 |  |  |  | (14,488 | ) |  |  | 1,862,089 |
Depreciation and amortization |  |  | 17,117 |  |  |  | 13,025 |  |  |  | 2,252 |  |  |  | 32,394 |
Selling, general, and administrative expense |  |  | 85,471 |  |  |  | 24,479 |  |  |  | 24,964 |  |  |  | 134,914 |
Insurance settlement |  |  | (103,895 | ) |  |  | — |  |  |  | (2,437 | ) |  |  | (106,332 | )
Gain on sale of plastic fittings manufacturing assets |  |  | (39,765 | ) |  |  | — |  |  |  | — |  |  |  | (39,765 | )
Impairment charges |  |  | 4,173 |  |  |  | 131 |  |  |  | — |  |  |  | 4,304 |
Operating income |  |  | 219,146 |  |  |  | 76,631 |  |  |  | (24,840 | ) |  |  | 270,937 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,990 | )
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,451 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 271,398 |
|  | For the Year Ended December 29, 2012 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 1,238,230 |  |  | $ | 974,606 |  |  | $ | (22,898 | ) |  | $ | 2,189,938 |
Cost of goods sold |  |  | 1,060,755 |  |  |  | 866,404 |  |  |  | (22,696 | ) |  |  | 1,904,463 |
Depreciation and amortization |  |  | 16,513 |  |  |  | 13,435 |  |  |  | 1,547 |  |  |  | 31,495 |
Selling, general, and administrative expense |  |  | 75,448 |  |  |  | 27,680 |  |  |  | 26,328 |  |  |  | 129,456 |
Litigation settlement |  |  | — |  |  |  | — |  |  |  | (4,050 | ) |  |  | (4,050 | )
Insurance settlement |  |  | (1,500 | ) |  |  | — |  |  |  | — |  |  |  | (1,500 | )
Severance |  |  | — |  |  |  | — |  |  |  | 3,369 |  |  |  | 3,369 |
Operating income |  |  | 87,014 |  |  |  | 67,087 |  |  |  | (27,396 | ) |  |  | 126,705 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,890 | )
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 539 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 120,354 |
|  | 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 by Assets |
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
Expenditures for long-lived assets (including business acquisitions): |  |  |  |  |  |  |  |  |
Plumbing & Refrigeration |  | $ | 47,222 |  |  | $ | 24,030 |  |  | $ | 12,686 |
OEM |  |  | 14,845 |  |  |  | 24,137 |  |  |  | 12,586 |
General corporate |  |  | 3,253 |  |  |  | 17,290 |  |  |  | 361 |
|  | $ | 65,320 |  |  | $ | 65,457 |  |  | $ | 25,633 |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |
Plumbing & Refrigeration |  | $ | 625,371 |  |  | $ | 531,429 |  |  | $ | 532,458 |
OEM |  |  | 305,052 |  |  |  | 290,058 |  |  |  | 296,997 |
General corporate |  |  | 317,344 |  |  |  | 282,668 |  |  |  | 518,149 |
|  | $ | 1,247,767 |  |  | $ | 1,104,155 |  |  | $ | 1,347,604 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 32 -Subparagraph c -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. + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 37 -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 2: 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 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 38 -Subparagraph b(1) -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 4: 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 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -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. + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_SegmentReportingDisclosureOfEntitysReportableSegmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration