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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Summary of Segment Information | Summarized segment information is as follows:
|  | For the Quarter Ended June 30, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 453,183 |  |  | $ | 175,891 |  |  | $ | 39,172 |  |  | $ | (5,473 | ) |  | $ | 662,773 |
Cost of goods sold |  | 384,821 |  |  | 154,401 |  |  | 30,688 |  |  | (6,090 | ) |  | 563,820 |
Depreciation and amortization |  | 5,744 |  |  | 1,948 |  |  | 627 |  |  | 687 |  |  | 9,006 |
Selling, general, and administrative expense |  | 20,599 |  |  | 3,449 |  |  | 2,510 |  |  | 11,870 |  |  | 38,428 |
(Gain) loss on sale of assets |  | — |  |  | — |  |  | — |  |  | (409 | ) |  | (409 | )
Operating income |  | 42,019 |  |  | 16,093 |  |  | 5,347 |  |  | (11,531 | ) |  | 51,928 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,073 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 586 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 46,441 |
|  | For the Quarter Ended July 1, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 422,844 |  |  | $ | 154,504 |  |  | $ | 36,636 |  |  | $ | 282 |  |  | $ | 614,266 |
Cost of goods sold |  | 364,261 |  |  | 132,972 |  |  | 27,449 |  |  | (371 | ) |  | 524,311 |
Depreciation and amortization |  | 5,591 |  |  | 1,904 |  |  | 615 |  |  | 485 |  |  | 8,595 |
Selling, general, and administrative expense |  | 19,831 |  |  | 3,239 |  |  | 2,456 |  |  | 10,773 |  |  | 36,299 |
(Gain) loss on sale of assets |  | (1,631 | ) |  | — |  |  | — |  |  | — |  |  | (1,631 | )
Operating income |  | 34,792 |  |  | 16,389 |  |  | 6,116 |  |  | (10,605 | ) |  | 46,692 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,442 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 342 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 40,592 |
Segment information (continued):
|  | For the Six Months Ended June 30, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 884,147 |  |  | $ | 353,223 |  |  | $ | 75,235 |  |  | $ | (9,772 | ) |  | $ | 1,302,833 |
Cost of goods sold |  | 757,716 |  |  | 303,824 |  |  | 57,974 |  |  | (10,024 | ) |  | 1,109,490 |
Depreciation and amortization |  | 11,622 |  |  | 3,851 |  |  | 1,248 |  |  | 1,741 |  |  | 18,462 |
Selling, general, and administrative expense |  | 39,841 |  |  | 6,822 |  |  | 5,119 |  |  | 20,703 |  |  | 72,485 |
(Gain) loss on sale of assets |  | — |  |  | — |  |  | — |  |  | 3,060 |  |  | 3,060 |
Operating income |  | 74,968 |  |  | 38,726 |  |  | 10,894 |  |  | (25,252 | ) |  | 99,336 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,982 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,146 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 88,500 |
|  | For the Six Months Ended July 1, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 821,619 |  |  | $ | 304,341 |  |  | $ | 70,915 |  |  | $ | (4,689 | ) |  | $ | 1,192,186 |
Cost of goods sold |  | 708,907 |  |  | 257,015 |  |  | 53,013 |  |  | (6,197 | ) |  | 1,012,738 |
Depreciation and amortization |  | 10,933 |  |  | 3,802 |  |  | 1,244 |  |  | 971 |  |  | 16,950 |
Selling, general, and administrative expense |  | 38,028 |  |  | 6,788 |  |  | 4,932 |  |  | 22,125 |  |  | 71,873 |
(Gain) loss on sale of assets |  | (1,631 | ) |  | — |  |  | — |  |  | — |  |  | (1,631 | )
Operating income |  | 65,382 |  |  | 36,736 |  |  | 11,726 |  |  | (21,588 | ) |  | 92,256 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,973 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 936 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 84,219 |
Disaggregation of Revenue From Contracts with Customers | The following tables represent a disaggregation of revenue from contracts with customers, along with the reportable segment for each category:
|  | For the Quarter Ended June 30, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 379,165 |  |  | $ | — |  |  | $ | — |  |  | $ | 379,165 |
Brass rod and forgings |  | — |  |  | 135,921 |  |  | — |  |  | 135,921 |
OEM components, tube & assemblies |  | 7,448 |  |  | 14,597 |  |  | 39,172 |  |  | 61,217 |
Valves and plumbing specialties |  | 66,570 |  |  | — |  |  | — |  |  | 66,570 |
Other |  | — |  |  | 25,373 |  |  | — |  |  | 25,373 |
|  | 453,183 |  |  | 175,891 |  |  | 39,172 |  |  | 668,246 |
Intersegment sales |  |  |  |  |  |  |  | (5,473 | )
Net sales |  |  |  |  |  |  |  | $ | 662,773 |
|  | For the Quarter Ended July 1, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 318,433 |  |  | $ | — |  |  | $ | — |  |  | $ | 318,433 |
Brass rod and forgings |  | — |  |  | 119,783 |  |  | — |  |  | 119,783 |
OEM components, tube & assemblies |  | 47,709 |  |  | 12,887 |  |  | 36,636 |  |  | 97,232 |
Valves and plumbing specialties |  | 56,702 |  |  | — |  |  | — |  |  | 56,702 |
Other |  | — |  |  | 21,834 |  |  | — |  |  | 21,834 |
|  | 422,844 |  |  | 154,504 |  |  | 36,636 |  |  | 613,984 |
Intersegment sales |  |  |  |  |  |  |  | 282 |
Net sales |  |  |  |  |  |  |  | $ | 614,266 |
Disaggregation of revenue from contracts with customers (continued):
|  | For the Six Months Ended June 30, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 737,256 |  |  | $ | — |  |  | $ | — |  |  | $ | 737,256 |
Brass rod and forgings |  | — |  |  | 272,469 |  |  | — |  |  | 272,469 |
OEM components, tube & assemblies |  | 14,510 |  |  | 29,664 |  |  | 75,235 |  |  | 119,409 |
Valves and plumbing specialties |  | 132,381 |  |  | — |  |  | — |  |  | 132,381 |
Other |  | — |  |  | 51,090 |  |  | — |  |  | 51,090 |
|  | 884,147 |  |  | 353,223 |  |  | 75,235 |  |  | 1,312,605 |
Intersegment sales |  |  |  |  |  |  |  | (9,772 | )
Net sales |  |  |  |  |  |  |  | $ | 1,302,833 |
|  | For the Six Months Ended July 1, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 626,799 |  |  | $ | — |  |  | $ | — |  |  | $ | 626,799 |
Brass rod and forgings |  | — |  |  | 233,963 |  |  | — |  |  | 233,963 |
OEM components, tube & assemblies |  | 79,680 |  |  | 26,102 |  |  | 70,915 |  |  | 176,697 |
Valves and plumbing specialties |  | 115,140 |  |  | — |  |  | — |  |  | 115,140 |
Other |  | — |  |  | 44,276 |  |  | — |  |  | 44,276 |
|  | 821,619 |  |  | 304,341 |  |  | 70,915 |  |  | 1,196,875 |
Intersegment sales |  |  |  |  |  |  |  | (4,689 | )
Net sales |  |  |  |  |  |  |  | $ | 1,192,186 |

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