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BUSINESS SEGMENTS | 9 Months Ended
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Sep. 24, 2022
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | (7) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION During the first quarter of 2022, the Company’s CODM changed the Company’s management structure and began to manage the business, allocate resources and evaluate performance based on the new structure. As a result, the Company has realigned to a two reportable segment structure organized by market dynamics (Infrastructure and Agriculture). Three operating segments resulted from the new management structure and two are aggregated into the Agriculture reportable segment. The Company considers gross profit margins, nature of products sold, nature of the production processes, type and class of customer, and methods used to distribute products when assessing aggregation of operating segments. The Infrastructure segment includes the previous reportable segments of Utility Structures, Engineered Support Structures, and Coatings. All prior period segment information has been recast to reflect this change in reportable segments. Both reportable segments are 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. Reportable segments are as follows: INFRASTRUCTURE: This segment consists of the manufacture and distribution of products and solutions to serve the infrastructure markets of utility, renewable energy, lighting, transportation, and telecommunications, and coatings services to preserve metal products. AGRICULTURE: This segment consists of the manufacture of center pivot and linear irrigation equipment for agricultural markets, including parts and tubular products, and advanced technology solutions for precision agriculture. The Company evaluates the performance of its reportable segments based upon operating income and invested capital. The Company does not allocate interest expense, non-operating income (expense), or income taxes to its reportable segments. ​ Summary by Business ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended | ​ | Thirty-nine weeks ended
​ | ​ | September 24, |  | September 25, |  | September 24, |  | September 25,
​ | ​ | 2022 | ​ | 2021 | ​ | 2022 | ​ | 2021
SALES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | $ | 778,353 | ​ | $ | 634,283 | ​ | $ | 2,224,029 | ​ | $ | 1,801,533
Agriculture | ​ |  | 327,261 | ​ |  | 240,331 | ​ |  | 1,011,606 | ​ |  | 751,960
Total | ​ |  | 1,105,614 | ​ |  | 874,614 | ​ |  | 3,235,635 | ​ |  | 2,553,493
INTERSEGMENT SALES: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Infrastructure | ​ |  | (5,112) | ​ |  | (1,826) | ​ |  | (12,413) | ​ |  | (7,823)
Agriculture | ​ |  | (3,120) | ​ |  | (4,006) | ​ |  | (9,488) | ​ |  | (7,373)
Total | ​ |  | (8,232) | ​ |  | (5,832) | ​ |  | (21,901) | ​ |  | (15,196)
NET SALES: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Infrastructure | ​ |  | 773,241 | ​ |  | 632,457 | ​ |  | 2,211,616 | ​ |  | 1,793,710
Agriculture | ​ |  | 324,141 | ​ |  | 236,325 | ​ |  | 1,002,118 | ​ |  | 744,587
Total | ​ | $ | 1,097,382 | ​ | $ | 868,782 | ​ | $ | 3,213,734 | ​ | $ | 2,538,297
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING INCOME: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Infrastructure | ​ | $ | 93,572 | ​ | $ | 71,422 | ​ | $ | 255,722 | ​ | $ | 187,421
Agriculture | ​ |  | 43,258 | ​ |  | 27,735 | ​ |  | 138,779 | ​ |  | 108,467
Corporate | ​ |  | (26,858) | ​ |  | (22,962) | ​ |  | (70,968) | ​ |  | (59,857)
Total | ​ | $ | 109,972 | ​ | $ | 76,195 | ​ | $ | 323,533 | ​ | $ | 236,031
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended September 24, 2022
​ | ​ | Infrastructure |  | Agriculture |  | Intersegment Sales |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 579,628 | ​ | $ | 178,626 | ​ | $ | (7,114) | ​ | $ | 751,140
International | ​ |  | 198,725 | ​ |  | 148,635 | ​ |  | (1,118) | ​ |  | 346,242
Total | ​ | $ | 778,353 | ​ | $ | 327,261 | ​ | $ | (8,232) | ​ | $ | 1,097,382
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution and Substation | ​ | $ | 304,781 | ​ | $ | — | ​ | $ | — | ​ | $ | 304,781
Lighting and Transportation | ​ |  | 241,590 | ​ |  | — | ​ |  | — | ​ |  | 241,590
Coatings | ​ |  | 91,969 | ​ |  | — | ​ |  | (3,994) | ​ |  | 87,975
Telecommunications | ​ |  | 92,830 | ​ |  | — | ​ |  | — | ​ |  | 92,830
Renewable Energy | ​ |  | 47,183 | ​ |  | — | ​ |  | (1,118) | ​ |  | 46,065
Irrigation Equipment and Parts, excluding Technology | ​ |  | — | ​ |  | 303,003 | ​ |  | (3,120) | ​ |  | 299,883
Technology Products and Services | ​ |  | — | ​ |  | 24,258 | ​ |  | — | ​ |  | 24,258
Total | ​ | $ | 778,353 | ​ | $ | 327,261 | ​ | $ | (8,232) | ​ | $ | 1,097,382
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirty-nine weeks ended September 24, 2022
​ | ​ | Infrastructure |  | Agriculture |  | Intersegment Sales |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 1,645,472 | ​ | $ | 564,369 | ​ | $ | (20,316) | ​ | $ | 2,189,525
International | ​ |  | 578,557 | ​ |  | 447,237 | ​ |  | (1,585) | ​ |  | 1,024,209
Total | ​ | $ | 2,224,029 | ​ | $ | 1,011,606 | ​ | $ | (21,901) | ​ | $ | 3,213,734
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution and Substation | ​ | $ | 882,216 | ​ | $ | — | ​ | $ | — | ​ | $ | 882,216
Lighting and Transportation | ​ |  | 701,009 | ​ |  | — | ​ |  | — | ​ |  | 701,009
Coatings | ​ |  | 264,266 | ​ |  | — | ​ |  | (11,295) | ​ |  | 252,971
Telecommunications | ​ |  | 232,765 | ​ |  | — | ​ |  | — | ​ |  | 232,765
Renewable Energy | ​ |  | 143,773 | ​ |  | — | ​ |  | (1,118) | ​ |  | 142,655
Irrigation Equipment and Parts, excluding Technology | ​ |  | — | ​ |  | 928,622 | ​ |  | (9,488) | ​ |  | 919,134
Technology Products and Services | ​ |  | — | ​ |  | 82,984 | ​ |  | — | ​ |  | 82,984
Total | ​ | $ | 2,224,029 | ​ | $ | 1,011,606 | ​ | $ | (21,901) | ​ | $ | 3,213,734
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended September 25, 2021
​ | ​ | Infrastructure |  | Agriculture |  | Intersegment Sales |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 439,610 | ​ | $ | 116,308 | ​ | $ | (5,832) | ​ | $ | 550,086
International | ​ |  | 194,673 | ​ |  | 124,023 | ​ |  | — | ​ |  | 318,696
Total | ​ | $ | 634,283 | ​ | $ | 240,331 | ​ | $ | (5,832) | ​ | $ | 868,782
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution and Substation | ​ | $ | 239,572 | ​ | $ | — | ​ | $ | — | ​ | $ | 239,572
Lighting and Transportation | ​ |  | 217,962 | ​ |  | — | ​ |  | — | ​ |  | 217,962
Coatings | ​ |  | 76,761 | ​ |  | — | ​ |  | (1,826) | ​ |  | 74,935
Telecommunications | ​ |  | 63,088 | ​ |  | — | ​ |  | — | ​ |  | 63,088
Renewable Energy | ​ |  | 36,900 | ​ |  | — | ​ |  | — | ​ |  | 36,900
Irrigation Equipment and Parts, excluding Technology | ​ |  | — | ​ |  | 218,892 | ​ |  | (4,006) | ​ |  | 214,886
Technology Products and Services | ​ |  | — | ​ |  | 21,439 | ​ |  | — | ​ |  | 21,439
Total | ​ | $ | 634,283 | ​ | $ | 240,331 | ​ | $ | (5,832) | ​ | $ | 868,782
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirty-nine weeks ended September 25, 2021
​ | ​ | Infrastructure |  | Agriculture |  | Intersegment Sales |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 1,246,512 | ​ | $ | 395,096 | ​ | $ | (15,196) | ​ | $ | 1,626,412
International | ​ |  | 555,021 | ​ |  | 356,864 | ​ |  | — | ​ |  | 911,885
Total | ​ | $ | 1,801,533 | ​ | $ | 751,960 | ​ | $ | (15,196) | ​ | $ | 2,538,297
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution and Substation | ​ | $ | 668,474 | ​ | $ | — | ​ | $ | — | ​ | $ | 668,474
Lighting and Transportation | ​ |  | 609,725 | ​ |  | — | ​ |  | — | ​ |  | 609,725
Coatings | ​ |  | 231,900 | ​ |  | — | ​ |  | (7,823) | ​ |  | 224,077
Telecommunications | ​ |  | 162,830 | ​ |  | — | ​ |  | — | ​ |  | 162,830
Renewable Energy | ​ |  | 128,604 | ​ |  | — | ​ |  | — | ​ |  | 128,604
Irrigation Equipment and Parts, excluding Technology | ​ |  | — | ​ |  | 679,600 | ​ |  | (7,373) | ​ |  | 672,227
Technology Products and Services | ​ |  | — | ​ |  | 72,360 | ​ |  | — | ​ |  | 72,360
Total | ​ | $ | 1,801,533 | ​ | $ | 751,960 | ​ | $ | (15,196) | ​ | $ | 2,538,297
​ ​ A breakdown by segment of revenue recognized over time and at a point in time for the thirteen and thirty-nine weeks ended September 24, 2022 and September 25, 2021 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Point in Time | ​ | Over Time | ​ | Total
​ | ​ | Thirteen | ​ | Thirteen | ​ | Thirteen
​ | ​ | weeks ended | ​ | weeks ended | ​ | weeks ended
​ |  | September 24, 2022 |  | September 24, 2022 |  | September 24, 2022
Infrastructure | ​ | $ | 434,839 | ​ | $ | 338,402 | ​ | $ | 773,241
Agriculture | ​ |  | 317,669 | ​ | ​ | 6,472 | ​ |  | 324,141
Total | ​ | $ | 752,508 | ​ | $ | 344,874 | ​ | $ | 1,097,382
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Point in Time |  | Over Time |  | Total
​ | ​ | Thirty-nine | ​ | Thirty-nine | ​ | Thirty-nine
​ | ​ | weeks ended | ​ | weeks ended | ​ | weeks ended
​ | ​ | September 24, 2022 | ​ | September 24, 2022 | ​ | September 24, 2022
Infrastructure | ​ | $ | 1,233,320 | ​ | $ | 978,296 | ​ | $ | 2,211,616
Agriculture | ​ |  | 983,450 | ​ | ​ | 18,668 | ​ |  | 1,002,118
Total | ​ | $ | 2,216,770 | ​ | $ | 996,964 | ​ | $ | 3,213,734
​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Point in Time |  | Over Time |  | Total
​ | ​ | Thirteen | ​ | Thirteen | ​ | Thirteen
​ | ​ | weeks ended | ​ | weeks ended | ​ | weeks ended
​ | ​ | September 25, 2021 | ​ | September 25, 2021 | ​ | September 25, 2021
Infrastructure | ​ | $ | 359,017 | ​ | $ | 273,440 | ​ | $ | 632,457
Agriculture | ​ |  | 230,273 | ​ | ​ | 6,052 | ​ |  | 236,325
Total | ​ | $ | 589,290 | ​ | $ | 279,492 | ​ | $ | 868,782
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Point in Time |  | Over Time |  | Total
​ | ​ | Thirty-nine | ​ | Thirty-nine | ​ | Thirty-nine
​ | ​ | weeks ended | ​ | weeks ended | ​ | weeks ended
​ | ​ | September 25, 2021 | ​ | September 25, 2021 | ​ | September 25, 2021
Infrastructure | ​ | $ | 997,482 | ​ | $ | 796,228 | ​ | $ | 1,793,710
Agriculture | ​ |  | 729,813 | ​ | ​ | 14,774 | ​ |  | 744,587
Total | ​ | $ | 1,727,295 | ​ | $ | 811,002 | ​ | $ | 2,538,297
​

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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