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BUSINESS SEGMENTS | 6 Months Ended
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Jun. 28, 2014
BUSINESS SEGMENTS |
BUSINESS SEGMENTS | (6) BUSINESS SEGMENTS The Company has four reportable segments based on its management structure. Each segment is global in nature with a manager responsible for segment operational performance and the allocation of capital within the segment. Net corporate expense is net of certain service-related expenses that are allocated to business units generally on the basis of employee headcounts and sales dollars. Reportable segments are as follows: ENGINEERED INFRASTRUCTURE PRODUCTS: This segment consists of the manufacture of engineered metal structures and components for the global lighting and traffic, wireless communication, wind energy, offshore oil and gas, roadway safety and access systems applications; UTILITY SUPPORT STRUCTURES: This segment consists of the manufacture of engineered steel and concrete structures for the global utility industry; COATINGS: This segment consists of galvanizing, anodizing and powder coating services on a global basis; and IRRIGATION: This segment consists of the manufacture of agricultural irrigation equipment and related parts and services for the global agricultural industry. In addition to these four reportable segments, the Company has other businesses and activities that individually are not more than 10% of consolidated sales. These include the manufacture of forged steel grinding media for the mining industry, tubular products for industrial customers, electrolytic manganese dioxide for disposable batteries and the distribution of industrial fasteners and are reported in the "Other" category. The accounting policies of the reportable segments are the same as those described in Note 1. The Company evaluates the performance of its business segments based upon operating income and invested capital. The Company does not allocate interest expense, non-operating income and deductions, or income taxes to its business segments. Summary by Business
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
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|  | June 28, 2014 |  | June 29, 2013 |  | June 28, 2014 |  | June 29, 2013 |
SALES: |  |  |  |  |  |  |  |  |  |  |  |  |
Engineered Infrastructure Products segment: |  |  |  |  |  |  |  |  |  |  |  |  |
Lighting, Traffic, and Roadway Products |  | $ | 164,753 |  | $ | 161,487 |  | $ | 303,730 |  | $ | 308,657 |
Communication Products |  |  | 43,618 |  |  | 34,771 |  |  | 73,504 |  |  | 63,393 |
Offshore Structures |  |  | 47,217 |  |  | — |  |  | 64,521 |  |  | — |
Access Systems |  |  | 48,764 |  |  | 54,378 |  |  | 91,059 |  |  | 102,256 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Engineered Infrastructure Products segment |  |  | 304,352 |  |  | 250,636 |  |  | 532,814 |  |  | 474,306 |
Utility Support Structures segment: |  |  |  |  |  |  |  |  |  |  |  |  |
Steel |  |  | 179,574 |  |  | 200,650 |  |  | 371,011 |  |  | 411,661 |
Concrete |  |  | 33,456 |  |  | 27,593 |  |  | 56,746 |  |  | 56,220 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Utility Support Structures segment |  |  | 213,030 |  |  | 228,243 |  |  | 427,757 |  |  | 467,881 |
Coatings segment |  |  | 85,157 |  |  | 93,798 |  |  | 167,328 |  |  | 183,043 |
Irrigation segment |  |  | 219,917 |  |  | 270,175 |  |  | 432,650 |  |  | 514,882 |
Other |  |  | 61,786 |  |  | 83,679 |  |  | 120,388 |  |  | 161,548 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  |  | 884,242 |  |  | 926,531 |  |  | 1,680,937 |  |  | 1,801,660 |
INTERSEGMENT SALES: |  |  |  |  |  |  |  |  |  |  |  |  |
Engineered Infrastructure Products segment |  |  | 18,166 |  |  | 22,169 |  |  | 37,731 |  |  | 51,621 |
Utility Support Structures segment |  |  | 1,025 |  |  | 299 |  |  | 1,520 |  |  | 710 |
Coatings segment |  |  | 14,770 |  |  | 14,448 |  |  | 29,723 |  |  | 28,778 |
Irrigation segment |  |  | 4 |  |  | 1 |  |  | 13 |  |  | 1 |
Other |  |  | 7,678 |  |  | 10,955 |  |  | 17,611 |  |  | 22,261 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  |  | 41,643 |  |  | 47,872 |  |  | 86,598 |  |  | 103,371 |
NET SALES: |  |  |  |  |  |  |  |  |  |  |  |  |
Engineered Infrastructure Products segment |  |  | 286,186 |  |  | 228,467 |  |  | 495,083 |  |  | 422,685 |
Utility Support Structures segment |  |  | 212,005 |  |  | 227,944 |  |  | 426,237 |  |  | 467,171 |
Coatings segment |  |  | 70,387 |  |  | 79,350 |  |  | 137,605 |  |  | 154,265 |
Irrigation segment |  |  | 219,913 |  |  | 270,174 |  |  | 432,637 |  |  | 514,881 |
Other |  |  | 54,108 |  |  | 72,724 |  |  | 102,777 |  |  | 139,287 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 842,599 |  | $ | 878,659 |  | $ | 1,594,339 |  | $ | 1,698,289 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING INCOME: |  |  |  |  |  |  |  |  |  |  |  |  |
Engineered Infrastructure Products segment |  | $ | 28,625 |  | $ | 22,603 |  | $ | 42,334 |  | $ | 35,337 |
Utility Support Structures segment |  |  | 26,375 |  |  | 42,121 |  |  | 59,132 |  |  | 88,276 |
Coatings segment |  |  | 15,820 |  |  | 23,552 |  |  | 29,706 |  |  | 36,972 |
Irrigation segment |  |  | 41,473 |  |  | 64,174 |  |  | 84,619 |  |  | 118,733 |
Other |  |  | 8,343 |  |  | 13,025 |  |  | 16,893 |  |  | 23,812 |
Corporate |  |  | (15,860 | ) |  | (21,210 | ) |  | (29,060 | ) |  | (40,675 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 104,776 |  | $ | 144,265 |  | $ | 203,624 |  | $ | 262,455 |
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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