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Segment Information (Tables) | 9 Months Ended
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Sep. 29, 2018
Segment Reporting [Abstract] |
Summary of Segment Information | Summarized segment information is as follows:
|  | For the Quarter Ended September 29, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 410,525 |  |  | $ | 158,709 |  |  | $ | 81,619 |  |  | $ | (4,895 | ) |  | $ | 645,958 |
Cost of goods sold |  | 363,174 |  |  | 141,435 |  |  | 66,832 |  |  | (4,485 | ) |  | 566,956 |
Depreciation and amortization |  | 5,946 |  |  | 1,864 |  |  | 2,123 |  |  | 686 |  |  | 10,619 |
Selling, general, and administrative expense |  | 17,387 |  |  | 3,086 |  |  | 6,890 |  |  | 11,526 |  |  | 38,889 |
(Gain) loss on sale of assets |  | (1,390 | ) |  | (1,301 | ) |  | — |  |  | — |  |  | (2,691 | )
Insurance recovery |  | — |  |  | (1,486 | ) |  | — |  |  | — |  |  | (1,486 | )
Operating income |  | 25,408 |  |  | 15,111 |  |  | 5,774 |  |  | (12,622 | ) |  | 33,671 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,746 | )
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  | 411 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 27,336 |
|  | For the Quarter Ended September 30, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 384,078 |  |  | $ | 147,578 |  |  | $ | 32,488 |  |  | $ | (13,781 | ) |  | $ | 550,363 |
Cost of goods sold |  | 340,191 |  |  | 120,021 |  |  | 24,111 |  |  | (13,061 | ) |  | 471,262 |
Depreciation and amortization |  | 5,290 |  |  | 1,845 |  |  | 636 |  |  | 495 |  |  | 8,266 |
Selling, general, and administrative expense |  | 17,516 |  |  | 3,014 |  |  | 2,312 |  |  | 10,372 |  |  | 33,214 |
(Gain) loss on sale of assets |  | 140 |  |  | — |  |  | — |  |  | — |  |  | 140 |
Operating income |  | 20,941 |  |  | 22,698 |  |  | 5,429 |  |  | (11,587 | ) |  | 37,481 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,237 | )
Other loss, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (380 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 31,864 |
Segment information (continued):
|  | For the Nine Months Ended September 29, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 1,294,672 |  |  | $ | 511,932 |  |  | $ | 156,854 |  |  | $ | (14,667 | ) |  | $ | 1,948,791 |
Cost of goods sold |  | 1,120,890 |  |  | 445,259 |  |  | 124,806 |  |  | (14,509 | ) |  | 1,676,446 |
Depreciation and amortization |  | 17,568 |  |  | 5,715 |  |  | 3,371 |  |  | 2,427 |  |  | 29,081 |
Selling, general, and administrative expense |  | 57,931 |  |  | 9,908 |  |  | 12,009 |  |  | 32,229 |  |  | 112,077 |
(Gain) loss on sale of assets |  | (2,093 | ) |  | (1,301 | ) |  | — |  |  | 3,060 |  |  | (334 | )
Insurance recovery |  | — |  |  | (1,486 | ) |  | — |  |  | — |  |  | (1,486 | )
Operating income |  | 100,376 |  |  | 53,837 |  |  | 16,668 |  |  | (37,874 | ) |  | 133,007 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (18,728 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,557 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 115,836 |
|  | For the Nine Months Ended September 30, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 1,205,697 |  |  | $ | 451,919 |  |  | $ | 103,403 |  |  | $ | (18,470 | ) |  | $ | 1,742,549 |
Cost of goods sold |  | 1,049,098 |  |  | 377,036 |  |  | 77,124 |  |  | (19,258 | ) |  | 1,484,000 |
Depreciation and amortization |  | 16,223 |  |  | 5,647 |  |  | 1,880 |  |  | 1,466 |  |  | 25,216 |
Selling, general, and administrative expense |  | 55,133 |  |  | 9,802 |  |  | 7,244 |  |  | 32,497 |  |  | 104,676 |
Asset impairments |  | 411 |  |  | — |  |  | — |  |  | — |  |  | 411 |
(Gain) loss on sale of assets |  | (1,491 | ) |  | — |  |  | — |  |  | — |  |  | (1,491 | )
Operating income |  | 86,323 |  |  | 59,434 |  |  | 17,155 |  |  | (33,175 | ) |  | 129,737 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,210 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 556 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 116,083 |
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 September 29, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 340,269 |  |  | $ | — |  |  | $ | — |  |  | $ | 340,269 |
Brass rod and forgings |  | — |  |  | 122,411 |  |  | — |  |  | 122,411 |
OEM components, tube & assemblies |  | 7,618 |  |  | 12,292 |  |  | 35,555 |  |  | 55,465 |
Valves and plumbing specialties |  | 62,638 |  |  | — |  |  | — |  |  | 62,638 |
Other |  | — |  |  | 24,006 |  |  | 46,064 |  |  | 70,070 |
|  | 410,525 |  |  | 158,709 |  |  | 81,619 |  |  | 650,853 |
Intersegment sales |  |  |  |  |  |  |  | (4,895 | )
Net sales |  |  |  |  |  |  |  | $ | 645,958 |
|  | For the Quarter Ended September 30, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 319,115 |  |  | $ | — |  |  | $ | — |  |  | $ | 319,115 |
Brass rod and forgings |  | — |  |  | 112,592 |  |  | — |  |  | 112,592 |
OEM components, tube & assemblies |  | 6,962 |  |  | 13,051 |  |  | 32,488 |  |  | 52,501 |
Valves and plumbing specialties |  | 58,001 |  |  | — |  |  | — |  |  | 58,001 |
Other |  | — |  |  | 21,935 |  |  | — |  |  | 21,935 |
|  | 384,078 |  |  | 147,578 |  |  | 32,488 |  |  | 564,144 |
Intersegment sales |  |  |  |  |  |  |  | (13,781 | )
Net sales |  |  |  |  |  |  |  | $ | 550,363 |
Disaggregation of revenue from contracts with customers (continued):
|  | For the Nine Months Ended September 29, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 1,077,525 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,077,525 |
Brass rod and forgings |  | — |  |  | 394,880 |  |  | — |  |  | 394,880 |
OEM components, tube & assemblies |  | 22,128 |  |  | 41,956 |  |  | 110,790 |  |  | 174,874 |
Valves and plumbing specialties |  | 195,019 |  |  | — |  |  | — |  |  | 195,019 |
Other |  | — |  |  | 75,096 |  |  | 46,064 |  |  | 121,160 |
|  | 1,294,672 |  |  | 511,932 |  |  | 156,854 |  |  | 1,963,458 |
Intersegment sales |  |  |  |  |  |  |  | (14,667 | )
Net sales |  |  |  |  |  |  |  | $ | 1,948,791 |
|  | For the Nine Months Ended September 30, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 945,914 |  |  | $ | — |  |  | $ | — |  |  | $ | 945,914 |
Brass rod and forgings |  | — |  |  | 346,555 |  |  | — |  |  | 346,555 |
OEM components, tube & assemblies |  | 86,642 |  |  | 39,153 |  |  | 103,403 |  |  | 229,198 |
Valves and plumbing specialties |  | 173,141 |  |  | — |  |  | — |  |  | 173,141 |
Other |  | — |  |  | 66,211 |  |  | — |  |  | 66,211 |
|  | 1,205,697 |  |  | 451,919 |  |  | 103,403 |  |  | 1,761,019 |
Intersegment sales |  |  |  |  |  |  |  | (18,470 | )
Net sales |  |  |  |  |  |  |  | $ | 1,742,549 |

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