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v3.19.1

Segment Information (Tables) | 3 Months Ended
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Mar. 30, 2019
Segment Reporting [Abstract] |
Summary of Segment Information | Summarized segment information is as follows:
|  | For the Quarter Ended March 30, 2019
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 376,492 |  |  | $ | 150,875 |  |  | $ | 89,834 |  |  | $ | (5,420 | ) |  | $ | 611,781 |
Cost of goods sold |  | 324,796 |  |  | 126,699 |  |  | 66,829 |  |  | (6,931 | ) |  | 511,393 |
Depreciation and amortization |  | 5,550 |  |  | 1,844 |  |  | 2,313 |  |  | 848 |  |  | 10,555 |
Selling, general, and administrative expense |  | 17,897 |  |  | 3,145 |  |  | 8,306 |  |  | 11,305 |  |  | 40,653 |
Operating income |  | 28,249 |  |  | 19,187 |  |  | 12,386 |  |  | (10,642 | ) |  | 49,180 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,954 | )
Other loss, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (172 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 42,054 |
|  | For the Quarter Ended March 31, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 430,964 |  |  | $ | 177,332 |  |  | $ | 36,063 |  |  | $ | (4,299 | ) |  | $ | 640,060 |
Cost of goods sold |  | 372,895 |  |  | 149,423 |  |  | 27,286 |  |  | (3,934 | ) |  | 545,670 |
Depreciation and amortization |  | 5,878 |  |  | 1,903 |  |  | 621 |  |  | 1,054 |  |  | 9,456 |
Selling, general, and administrative expense |  | 19,242 |  |  | 3,373 |  |  | 2,609 |  |  | 8,833 |  |  | 34,057 |
Asset impairment |  | — |  |  | — |  |  | — |  |  | 3,469 |  |  | 3,469 |
Operating income |  | 32,949 |  |  | 22,633 |  |  | 5,547 |  |  | (13,721 | ) |  | 47,408 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,909 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 560 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 42,059 |
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 March 30, 2019
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 307,521 |  |  | $ | — |  |  | $ | — |  |  | $ | 307,521 |
Brass rod and forgings |  | — |  |  | 115,924 |  |  | — |  |  | 115,924 |
OEM components, tube & assemblies |  | 7,283 |  |  | 13,037 |  |  | 37,243 |  |  | 57,563 |
Valves and plumbing specialties |  | 61,688 |  |  | — |  |  | — |  |  | 61,688 |
Other |  | — |  |  | 21,914 |  |  | 52,591 |  |  | 74,505 |
|  | 376,492 |  |  | 150,875 |  |  | 89,834 |  |  | 617,201 |
Intersegment sales |  |  |  |  |  |  |  | (5,420 | )
Net sales |  |  |  |  |  |  |  | $ | 611,781 |
|  | For the Quarter Ended March 31, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 358,091 |  |  | $ | — |  |  | $ | — |  |  | $ | 358,091 |
Brass rod and forgings |  | — |  |  | 136,548 |  |  | — |  |  | 136,548 |
OEM components, tube & assemblies |  | 7,062 |  |  | 15,067 |  |  | 36,063 |  |  | 58,192 |
Valves and plumbing specialties |  | 65,811 |  |  | — |  |  | — |  |  | 65,811 |
Other |  | — |  |  | 25,717 |  |  | — |  |  | 25,717 |
|  | 430,964 |  |  | 177,332 |  |  | 36,063 |  |  | 644,359 |
Intersegment sales |  |  |  |  |  |  |  | (4,299 | )
Net sales |  |  |  |  |  |  |  | $ | 640,060 |

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