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v3.23.3

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2023 | Sep. 24, 2022 | Sep. 30, 2023 | Sep. 24, 2022 | Dec. 31, 2022
Summary of segment information [Abstract] |  |  |  |  |
Net sales | $ 819,792 | $ 944,830 | $ 2,687,968 | $ 3,104,874 |
Cost of goods sold | 579,058 | 678,637 | 1,897,128 | 2,244,062 |
Depreciation and amortization | 9,631 | 10,850 | 30,704 | 32,993 |
Selling, general, and administrative expense | 48,295 | 50,178 | 156,988 | 146,590 |
Gain on sale of assets | 0 | 0 | 0 | 5,507 |
Gain on sale of business | (4,137) | 0 | (4,137) | 0 |
Asset impairments | 5,934 | 0 | 5,934 | 0 |
Gain on insurance settlement | 0 | 0 | (19,466) | 0 |
Operating income | 181,011 | 205,165 | 620,817 | 686,736 |
Interest expense | (230) | (361) | (508) | (666) |
Interest income | 10,599 | 1,356 | 24,566 | 1,619 |
Unrealized gain on short-term investments | (2,371) | 0 | 18,449 | 0 |
Other (expense) income, net | (44) | (326) | 4,033 | 2,394 |
Income before income taxes | 188,965 | 205,834 | 667,357 | 690,083 |
Assets | 2,663,741 |  | 2,663,741 |  | $ 2,242,399
Operating Segments |  |  |  |  |
Summary of segment information [Abstract] |  |  |  |  |
Net sales | 829,112 | 954,338 | 2,718,004 | 3,141,168 |
Operating Segments | Piping Systems |  |  |  |  |
Summary of segment information [Abstract] |  |  |  |  |
Net sales | 568,151 | 634,808 | 1,868,635 | 2,163,045 |
Cost of goods sold | 394,736 | 440,216 | 1,315,212 | 1,539,493 |
Depreciation and amortization | 5,025 | 5,516 | 15,835 | 16,846 |
Selling, general, and administrative expense | 21,847 | 21,137 | 76,049 | 66,700 |
Gain on sale of assets |  |  |  | 0 |
Gain on sale of business | 0 |  | 0 |  |
Asset impairments | 5,934 |  | 5,934 |  |
Gain on insurance settlement |  |  | 0 |  |
Operating income | 140,609 | 167,939 | 455,605 | 540,006 |
Assets | 1,083,888 |  | 1,083,888 |  | 1,088,940
Operating Segments | Industrial Metals |  |  |  |  |
Summary of segment information [Abstract] |  |  |  |  |
Net sales | 141,012 | 144,880 | 452,512 | 498,367 |
Cost of goods sold | 119,108 | 128,152 | 375,375 | 424,802 |
Depreciation and amortization | 1,835 | 1,846 | 5,411 | 5,636 |
Selling, general, and administrative expense | 3,848 | 2,805 | 10,319 | 8,425 |
Gain on sale of assets |  |  |  | 0 |
Gain on sale of business | 0 |  | 0 |  |
Asset impairments | 0 |  | 0 |  |
Gain on insurance settlement |  |  | 0 |  |
Operating income | 16,221 | 12,077 | 61,407 | 59,504 |
Assets | 168,608 |  | 168,608 |  | 160,702
Operating Segments | Climate |  |  |  |  |
Summary of segment information [Abstract] |  |  |  |  |
Net sales | 119,949 | 174,650 | 396,857 | 479,756 |
Cost of goods sold | 76,133 | 114,850 | 242,009 | 311,917 |
Depreciation and amortization | 1,618 | 2,289 | 5,973 | 6,989 |
Selling, general, and administrative expense | 7,352 | 10,049 | 22,440 | 25,941 |
Gain on sale of assets |  |  |  | 0 |
Gain on sale of business | 0 |  | 0 |  |
Asset impairments | 0 |  | 0 |  |
Gain on insurance settlement |  |  | (19,466) |  |
Operating income | 34,846 | 47,462 | 145,901 | 134,909 |
Assets | 257,832 |  | 257,832 |  | 279,940
Corporate and Eliminations |  |  |  |  |
Summary of segment information [Abstract] |  |  |  |  |
Net sales | (9,320) | (9,508) | (30,036) | (36,294) |
Cost of goods sold | (10,919) | (4,581) | (35,468) | (32,150) |
Depreciation and amortization | 1,153 | 1,199 | 3,485 | 3,522 |
Selling, general, and administrative expense | 15,248 | 16,187 | 48,180 | 45,524 |
Gain on sale of assets |  |  |  | 5,507 |
Gain on sale of business | (4,137) |  | (4,137) |  |
Asset impairments | 0 |  | 0 |  |
Gain on insurance settlement |  |  | 0 |  |
Operating income | (10,665) | $ (22,313) | (42,096) | $ (47,683) |
Assets | $ 1,153,413 |  | $ 1,153,413 |  | $ 712,817

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