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BUSINESS SEGMENTS & RELATED REVENUE INFORMATION | 3 Months Ended
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Apr. 01, 2023
Segment Reporting [Abstract] |
BUSINESS SEGMENTS & RELATED REVENUE INFORMATION | (8) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION The Company has two 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: INFRASTRUCTURE: This segment consists of the manufacture and distribution of products and solutions to serve the infrastructure markets of utility, solar, lighting and transportation, and telecommunications, and coatings services to preserve metal products. AGRICULTURE: This segment consists of the manufacture of center pivot components and linear irrigation equipment for agricultural markets, including parts and tubular products, and advanced technology solutions for precision agriculture. In addition to these two reportable segments, the Company had a business and related activities in 2022 that are not more than 10% of consolidated sales, operating income, or assets. This comprised the offshore wind energy structures business and was reported in the Other segment until its divestiture in fourth quarter 2022. The Company evaluates the performance of its reportable segments based upon operating income and return on invested capital. The Company’s operating income for segment purposes excludes unallocated corporate general and administrative expenses, interest expense, non-operating income and deductions, or income taxes. ​ (8) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION Summary by Business ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended
​ | ​ | April 1, |  | March 26,
​ | ​ | 2023 | ​ | 2022
SALES: | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | $ | 736,106 | ​ | $ | 662,072
Agriculture | ​ |  | 332,163 | ​ |  | 306,580
Other | ​ | ​ | — | ​ | ​ | 18,654
Total | ​ |  | 1,068,269 | ​ |  | 987,306
INTERSEGMENT SALES: | ​ |  |  | ​ |  | ​
Infrastructure | ​ |  | (3,966) | ​ |  | (3,101)
Agriculture | ​ |  | (1,822) | ​ |  | (3,385)
Total | ​ |  | (5,788) | ​ |  | (6,486)
NET SALES: | ​ |  |  | ​ |  |
Infrastructure | ​ |  | 732,140 | ​ |  | 658,971
Agriculture | ​ |  | 330,341 | ​ |  | 303,195
Other | ​ | ​ | — | ​ |  | 18,654
Total | ​ | $ | 1,062,481 | ​ | $ | 980,820
​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING INCOME (LOSS): | ​ |  |  | ​ |  |
Infrastructure | ​ | $ | 94,352 | ​ | $ | 78,316
Agriculture | ​ |  | 53,323 | ​ |  | 37,475
Other | ​ | ​ | — | ​ |  | (809)
Corporate | ​ |  | (29,209) | ​ |  | (20,140)
Total | ​ | $ | 118,466 | ​ | $ | 94,842
​ ​ (8) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION – CONTINUED ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended April 1, 2023
​ | ​ | Infrastructure |  | Agriculture |  | Other | ​ | Intersegment Sales |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |
North America | ​ | $ | 584,083 | ​ | $ | 182,869 | ​ | $ | — | ​ | $ | (5,374) | ​ | $ | 761,578
International | ​ |  | 152,023 | ​ |  | 149,294 | ​ |  | — | ​ |  | (414) | ​ |  | 300,903
Total | ​ | $ | 736,106 | ​ | $ | 332,163 | ​ | $ | — | ​ | $ | (5,788) | ​ | $ | 1,062,481
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution, and Substation | ​ | $ | 314,820 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 314,820
Lighting and Transportation | ​ |  | 229,136 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 229,136
Coatings | ​ |  | 90,114 | ​ |  | — | ​ |  | — | ​ |  | (3,552) | ​ |  | 86,562
Telecommunications | ​ |  | 68,137 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 68,137
Solar | ​ |  | 33,899 | ​ |  | — | ​ |  | — | ​ |  | (414) | ​ |  | 33,485
Irrigation Equipment and Parts, excluding Technology | ​ |  | — | ​ |  | 299,181 | ​ |  | — | ​ |  | (1,822) | ​ |  | 297,359
Technology Products and Services | ​ |  | — | ​ |  | 32,982 | ​ |  | — | ​ |  | — | ​ |  | 32,982
Total | ​ | $ | 736,106 | ​ | $ | 332,163 | ​ | $ | — | ​ | $ | (5,788) | ​ | $ | 1,062,481
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended March 26, 2022
​ | ​ | Infrastructure |  | Agriculture |  | Other | ​ | Intersegment Sales |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |
North America | ​ | $ | 505,980 | ​ | $ | 182,255 | ​ | $ | — | ​ | $ | (6,486) | ​ | $ | 681,749
International | ​ |  | 156,092 | ​ |  | 124,325 | ​ |  | 18,654 | ​ |  | — | ​ |  | 299,071
Total | ​ | $ | 662,072 | ​ | $ | 306,580 | ​ | $ | 18,654 | ​ | $ | (6,486) | ​ | $ | 980,820
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution, and Substation | ​ | $ | 281,600 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 281,600
Lighting and Transportation | ​ |  | 212,767 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 212,767
Coatings | ​ |  | 81,976 | ​ |  | — | ​ |  | — | ​ |  | (3,101) | ​ |  | 78,875
Telecommunications | ​ |  | 61,396 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 61,396
Solar | ​ |  | 24,333 | ​ |  | — | ​ |  | 18,654 | ​ |  | — | ​ |  | 42,987
Irrigation Equipment and Parts, excluding Technology | ​ |  | — | ​ |  | 278,034 | ​ |  | — | ​ |  | (3,385) | ​ |  | 274,649
Technology Products and Services | ​ |  | — | ​ |  | 28,546 | ​ |  | — | ​ |  | — | ​ |  | 28,546
Total | ​ | $ | 662,072 | ​ | $ | 306,580 | ​ | $ | 18,654 | ​ | $ | (6,486) | ​ | $ | 980,820
​ ​ ​ (8) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION – CONTINUED A breakdown by segment of revenue recognized over time and at a point in time for the thirteen weeks ended April 1, 2023 and March 26, 2022 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Point in Time | ​ | Over Time | ​ | Total
​ | ​ | Thirteen | ​ | Thirteen | ​ | Thirteen
​ | ​ | weeks ended | ​ | weeks ended | ​ | weeks ended
​ |  | April 1, 2023 |  | April 1, 2023 |  | April 1, 2023
Infrastructure | ​ | $ | 411,217 | ​ | $ | 320,923 | ​ | $ | 732,140
Agriculture | ​ |  | 324,206 | ​ | ​ | 6,135 | ​ |  | 330,341
Total | ​ | $ | 735,423 | ​ | $ | 327,058 | ​ | $ | 1,062,481
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Point in Time |  | Over Time |  | Total
​ | ​ | Thirteen | ​ | Thirteen | ​ | Thirteen
​ | ​ | weeks ended | ​ | weeks ended | ​ | weeks ended
​ | ​ | March 26, 2022 | ​ | March 26, 2022 | ​ | March 26, 2022
Infrastructure | ​ | $ | 369,190 | ​ | $ | 289,781 | ​ | $ | 658,971
Agriculture | ​ |  | 297,606 | ​ | ​ | 5,589 | ​ |  | 303,195
Other | ​ | ​ | — | ​ | ​ | 18,654 | ​ |  | 18,654
Total | ​ | $ | 666,796 | ​ | $ | 314,024 | ​ | $ | 980,820
​

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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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