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Industry Segments (Tables) | 9 Months Ended
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Sep. 27, 2014
Industry Segments [Abstract] |
Summary of segment information | Summarized segment information is as follows:
|  | For the Quarter Ended September 27, 2014 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 357,843 |  |  | $ | 247,883 |  |  | $ | (2,906 | ) |  | $ | 602,820 |
Cost of goods sold |  |  | 308,927 |  |  |  | 215,225 |  |  |  | (2,874 | ) |  |  | 521,278 |
Depreciation and amortization |  |  | 5,287 |  |  |  | 3,148 |  |  |  | 517 |  |  |  | 8,952 |
Selling, general, and administrative expense |  |  | 23,473 |  |  |  | 5,533 |  |  |  | 5,858 |  |  |  | 34,864 |
Operating income |  | $ | 20,156 |  |  | $ | 23,977 |  |  | $ | (6,407 | ) |  |  | 37,726 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,430 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 225 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 36,521 |
|  | For the Quarter Ended September 28, 2013 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 301,622 |  |  | $ | 230,396 |  |  | $ | (3,164 | ) |  | $ | 528,854 |
Cost of goods sold |  |  | 258,035 |  |  |  | 201,399 |  |  |  | (3,132 | ) |  |  | 456,302 |
Depreciation and amortization |  |  | 4,172 |  |  |  | 3,150 |  |  |  | 560 |  |  |  | 7,882 |
Selling, general, and administrative expense |  |  | 20,736 |  |  |  | 5,779 |  |  |  | 6,406 |  |  |  | 32,921 |
Gain on sale of plastic fittings manufacturing assets |  |  | (39,765 | ) |  |  | — |  |  |  | — |  |  |  | (39,765 | )
Impairment charges |  |  | 4,173 |  |  |  | 131 |  |  |  | — |  |  |  | 4,304 |
Operating income |  | $ | 54,271 |  |  | $ | 19,937 |  |  | $ | (6,998 | ) |  |  | 67,210 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,243 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 842 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 66,809 |
|  | For the Nine Months Ended September 27, 2014 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 1,093,060 |  |  | $ | 743,322 |  |  | $ | (9,497 | ) |  | $ | 1,826,885 |
Cost of goods sold |  |  | 934,208 |  |  |  | 650,020 |  |  |  | (9,398 | ) |  |  | 1,574,830 |
Depreciation and amortization |  |  | 14,803 |  |  |  | 9,123 |  |  |  | 1,725 |  |  |  | 25,651 |
Selling, general, and administrative expense |  |  | 67,678 |  |  |  | 15,700 |  |  |  | 18,789 |  |  |  | 102,167 |
Operating income |  | $ | 76,371 |  |  | $ | 68,479 |  |  | $ | (20,613 | ) |  |  | 124,237 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,913 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 440 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 120,764 |
|  | For the Nine Months Ended September 28, 2013 |
(In thousands) |  | Plumbing & Refrigeration Segment |  |  | OEM Segment |  |  | Corporate and Eliminations |  |  | Total |
Net sales |  | $ | 942,109 |  |  | $ | 741,227 |  |  | $ | (12,510 | ) |  | $ | 1,670,826 |
Cost of goods sold |  |  | 800,782 |  |  |  | 651,875 |  |  |  | (12,380 | ) |  |  | 1,440,277 |
Depreciation and amortization |  |  | 12,861 |  |  |  | 9,854 |  |  |  | 1,649 |  |  |  | 24,364 |
Selling, general, and administrative expense |  |  | 61,245 |  |  |  | 18,168 |  |  |  | 19,665 |  |  |  | 99,078 |
Gain on sale of plastic fittings manufacturing assets |  |  | (39,765 | ) |  |  | — |  |  |  | — |  |  |  | (39,765 | )
Impairment charges |  |  | 4,173 |  |  |  | 131 |  |  |  | — |  |  |  | 4,304 |
Insurance settlement |  |  | (103,895 | ) |  |  | — |  |  |  | (2,437 | ) |  |  | (106,332 | )
Operating income |  | $ | 206,708 |  |  | $ | 61,199 |  |  | $ | (19,007 | ) |  |  | 248,900 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,940 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,324 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 250,284 |

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- 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 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: 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 3: 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=35741047&loc=d3e13816-109267 Reference 4: 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 5: 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 + Details
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