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v3.19.3.a.u2

Segment Information (Tables) | 12 Months Ended
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Dec. 28, 2019
Segment Reporting [Abstract] |
Net sales by major product line | The following tables represent a disaggregation of revenue from contracts with customers, along with the reportable segment for each category:
|  | For the Year Ended December 28, 2019
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 1,271,558 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,271,558 |
Brass rod and forgings |  | — |  |  | 425,573 |  |  | — |  |  | 425,573 |
OEM components, tube & assemblies |  | 29,103 |  |  | 48,104 |  |  | 133,651 |  |  | 210,858 |
Valves and plumbing specialties |  | 241,795 |  |  | — |  |  | — |  |  | 241,795 |
Other |  | — |  |  | 80,695 |  |  | 222,565 |  |  | 303,260 |
|  | $ | 1,542,456 |  |  | $ | 554,372 |  |  | $ | 356,216 |  |  | $ | 2,453,044 |
Intersegment sales |  |  |  |  |  |  |  | (22,428 | )
Net sales |  |  |  |  |  |  |  | $ | 2,430,616 |
|  | For the Year Ended December 29, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 1,352,875 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,352,875 |
Brass rod and forgings |  | — |  |  | 501,472 |  |  | — |  |  | 501,472 |
OEM components, tube & assemblies |  | 29,578 |  |  | 53,581 |  |  | 139,113 |  |  | 222,272 |
Valves and plumbing specialties |  | 263,180 |  |  | — |  |  | — |  |  | 263,180 |
Other |  | — |  |  | 96,008 |  |  | 89,956 |  |  | 185,964 |
|  | $ | 1,645,633 |  |  | $ | 651,061 |  |  | $ | 229,069 |  |  | $ | 2,525,763 |
Intersegment sales |  |  |  |  |  |  |  | (17,885 | )
Net sales |  |  |  |  |  |  |  | $ | 2,507,878 |
Disaggregation of revenue from contracts with customers (continued):
|  | For the Year Ended December 30, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 1,238,258 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,238,258 |
Brass rod and forgings |  | — |  |  | 461,603 |  |  | — |  |  | 461,603 |
OEM components, tube & assemblies |  | 94,383 |  |  | 51,707 |  |  | 131,448 |  |  | 277,538 |
Valves and plumbing specialties |  | 232,309 |  |  | — |  |  | — |  |  | 232,309 |
Other |  | — |  |  | 88,821 |  |  | — |  |  | 88,821 |
|  | $ | 1,564,950 |  |  | $ | 602,131 |  |  | $ | 131,448 |  |  | $ | 2,298,529 |
Intersegment sales |  |  |  |  |  |  |  | (32,456 | )
Net sales |  |  |  |  |  |  |  | $ | 2,266,073 |
Geographic information | Summarized geographic information is as follows:
(In thousands) |  | 2019 |  | 2018 |  | 2017
Net sales: |  |  |  |  |  |
United States |  | $ | 1,775,321 |  |  | $ | 1,820,857 |  |  | $ | 1,556,825 |
United Kingdom |  | 230,791 |  |  | 245,458 |  |  | 231,039 |
Canada |  | 285,720 |  |  | 292,798 |  |  | 280,140 |
Asia |  | 64,363 |  |  | 59,730 |  |  | 121,295 |
Mexico |  | 74,421 |  |  | 89,035 |  |  | 76,774 |
|  | $ | 2,430,616 |  |  | $ | 2,507,878 |  |  | $ | 2,266,073 |
(In thousands) |  | 2019 |  | 2018 |  | 2017
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 286,727 |  |  | $ | 295,735 |  |  | $ | 238,752 |
United Kingdom |  | 18,776 |  |  | 16,313 |  |  | 17,661 |
Canada |  | 31,429 |  |  | 33,144 |  |  | 21,327 |
Asia |  | 25,637 |  |  | 24,930 |  |  | 25,973 |
Mexico |  | 559 |  |  | 511 |  |  | 608 |
|  | $ | 363,128 |  |  | $ | 370,633 |  |  | $ | 304,321 |
Summary of segment information | Summarized segment information is as follows:
|  | For the Year Ended December 28, 2019
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 1,542,456 |  |  | $ | 554,372 |  |  | $ | 356,216 |  |  | $ | (22,428 | ) |  | $ | 2,430,616 |
Cost of goods sold |  | 1,313,980 |  |  | 473,010 |  |  | 273,850 |  |  | (25,230 | ) |  | 2,035,610 |
Depreciation and amortization |  | 22,621 |  |  | 7,489 |  |  | 9,298 |  |  | 3,285 |  |  | 42,693 |
Selling, general, and administrative expense |  | 75,170 |  |  | 12,359 |  |  | 30,385 |  |  | 44,444 |  |  | 162,358 |
(Gain) loss on sale of assets, net |  | (1,194 | ) |  | 275 |  |  | (44 | ) |  | — |  |  | (963 | )
Insurance recovery |  | — |  |  | (485 | ) |  | — |  |  | — |  |  | (485 | )
Operating income |  | 131,879 |  |  | 61,724 |  |  | 42,727 |  |  | (44,927 | ) |  | 191,403 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (25,683 | )
Environmental expense |  |  |  |  |  |  |  |  |  | (1,321 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,684 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 166,083 |
|  | For the Year Ended December 29, 2018
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 1,645,633 |  |  | $ | 651,061 |  |  | $ | 229,069 |  |  | $ | (17,885 | ) |  | $ | 2,507,878 |
Cost of goods sold |  | 1,426,729 |  |  | 559,367 |  |  | 182,456 |  |  | (18,152 | ) |  | 2,150,400 |
Depreciation and amortization |  | 23,304 |  |  | 7,568 |  |  | 5,569 |  |  | 3,114 |  |  | 39,555 |
Selling, general, and administrative expense |  | 74,864 |  |  | 13,501 |  |  | 16,926 |  |  | 43,597 |  |  | 148,888 |
(Gain) loss on sale of assets, net |  | (2,093 | ) |  | (1,301 | ) |  | — |  |  | 3,141 |  |  | (253 | )
Insurance recovery |  | — |  |  | (3,681 | ) |  | — |  |  | — |  |  | (3,681 | )
Operating income |  | 122,829 |  |  | 75,607 |  |  | 24,118 |  |  | (49,585 | ) |  | 172,969 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (25,199 | )
Environmental expense |  |  |  |  |  |  |  |  |  | (1,320 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,967 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 150,417 |
Segment information (continued):
|  | For the Year Ended December 30, 2017
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 1,564,950 |  |  | $ | 602,131 |  |  | $ | 131,448 |  |  | $ | (32,456 | ) |  | $ | 2,266,073 |
Cost of goods sold |  | 1,369,161 |  |  | 506,973 |  |  | 98,851 |  |  | (34,368 | ) |  | 1,940,617 |
Depreciation and amortization |  | 21,777 |  |  | 7,516 |  |  | 2,513 |  |  | 2,138 |  |  | 33,944 |
Selling, general, and administrative expense |  | 74,441 |  |  | 13,278 |  |  | 9,759 |  |  | 43,252 |  |  | 140,730 |
Gain on sale of assets, net |  | (1,491 | ) |  | — |  |  | — |  |  | — |  |  | (1,491 | )
Impairment charges |  | 1,466 |  |  | — |  |  | — |  |  | — |  |  | 1,466 |
Operating income |  | 99,596 |  |  | 74,364 |  |  | 20,325 |  |  | (43,478 | ) |  | 150,807 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (19,502 | )
Environmental expense |  |  |  |  |  |  |  |  |  | (7,284 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,951 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 126,972 |
Segment information by assets |
(In thousands) |  | 2019 |  | 2018 |  | 2017
Expenditures for long-lived assets (including those resulting from business acquisitions): |  |  |  |  |  |
Piping Systems |  | $ | 15,505 |  |  | $ | 31,362 |  |  | $ | 18,124 |
Industrial Metals |  | 9,101 |  |  | 8,066 |  |  | 5,322 |
Climate |  | 3,845 |  |  | 85,471 |  |  | 2,191 |
General Corporate |  | 2,711 |  |  | 37 |  |  | 22,518 |
|  | $ | 31,162 |  |  | $ | 124,936 |  |  | $ | 48,155 |
Segment assets: |  |  |  |  |  |  |  |  |
Piping Systems |  | $ | 796,262 |  |  | $ | 818,303 |  |  | $ | 801,468 |
Industrial Metals |  | 161,904 |  |  | 173,725 |  |  | 212,638 |
Climate |  | 249,853 |  |  | 246,851 |  |  | 73,458 |
General Corporate |  | 162,921 |  |  | 130,670 |  |  | 232,609 |
|  | $ | 1,370,940 |  |  | $ | 1,369,549 |  |  | $ | 1,320,173 |

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