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v3.20.1

Segment Information (Tables) | 3 Months Ended
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Mar. 28, 2020
Segment Reporting [Abstract] |
Summary of Segment Information | Summarized segment information is as follows:
|  | For the Quarter Ended March 28, 2020
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Corporate and Eliminations |  | Total
Net sales |  | $ | 385,013 |  |  | $ | 131,202 |  |  | $ | 93,272 |  |  | $ | (6,568 | ) |  | $ | 602,919 |
Cost of goods sold |  | 319,164 |  |  | 114,797 |  |  | 71,093 |  |  | 3,661 |  |  | 508,715 |
Depreciation and amortization |  | 5,699 |  |  | 2,002 |  |  | 2,466 |  |  | 872 |  |  | 11,039 |
Selling, general, and administrative expense |  | 20,439 |  |  | 3,221 |  |  | 6,699 |  |  | 12,393 |  |  | 42,752 |
Asset impairments |  | 3,035 |  |  | — |  |  | — |  |  | — |  |  | 3,035 |
Litigation settlement, net |  | — |  |  | — |  |  | — |  |  | (21,933 | ) |  | (21,933 | )
Operating income |  | 36,676 |  |  | 11,182 |  |  | 13,014 |  |  | (1,561 | ) |  | 59,311 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,379 | )
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  | 278 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 54,210 |
|  | 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 |
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 28, 2020
(In thousands) |  | Piping Systems |  | Industrial Metals |  | Climate |  | Total
Tube and fittings |  | $ | 302,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 302,129 |
Brass rod and forgings |  | — |  |  | 99,670 |  |  | — |  |  | 99,670 |
OEM components, tube & assemblies |  | 25,295 |  |  | 10,882 |  |  | 36,573 |  |  | 72,750 |
Valves and plumbing specialties |  | 57,589 |  |  | — |  |  | — |  |  | 57,589 |
Other |  | — |  |  | 20,650 |  |  | 56,699 |  |  | 77,349 |
|  | 385,013 |  |  | 131,202 |  |  | 93,272 |  |  | 609,487 |
Intersegment sales |  |  |  |  |  |  |  | (6,568 | )
Net sales |  |  |  |  |  |  |  | $ | 602,919 |
|  | 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 |

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