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SEGMENT REPORTING

3 Months Ended

Mar. 27, 2021

SEGMENT REPORTING

SEGMENT REPORTING

G.       SEGMENT REPORTING

The Company operates manufacturing, treating and distribution facilities internationally, but primarily in the United States. The business segments align with the following markets: UFP Retail Solutions, UFP Construction and UFP Industrial. The Company manages the operations of its individual locations primarily through a market-centered reporting structure under which each location is included in a business unit and business units are included in our Retail, Industrial, and Construction segments. In the case of locations which serve multiple segments, results are allocated and accounted for by segment. The exception to this market-centered reporting and management structure is the Company’s International segment, which comprises our Mexico, Canada, and Australia operations and sales and buying offices in other parts of the world.

Our International segment and Ardellis (our insurance captive) have been included in the “All Other” column of the table below.

The “Corporate” column includes purchasing, transportation and administrative functions that serve our operating segments. Operating results of Corporate primarily consists of over (under) allocated costs. The operating results of UFP Real Estate, Inc., which owns and leases real estate, and UFP Transportation Ltd., which owns and leases transportation equipment, are also included in the Corporate column. An inter-company lease charge is assessed to our operating segments for the use of these assets at fair market value rates. Total assets of the Corporate column include unallocated cash and cash equivalents, certain prepaid assets, certain property, equipment and other assets pertaining to the centralized activities of Corporate, UFP Real Estate, Inc., and UFP Transportation Ltd. The tables below are presented in thousands:

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Three Months Ended March 27, 2021

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Retail

Industrial

Construction

All Other

Corporate

Total

Net sales to outside customers

​

$

759,021

$

448,874

​

$

559,530

​

$

55,577

​

$

2,002

​

$

1,825,004

Intersegment net sales

​

47,586

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​

17,906

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​

14,461

​

​

97,396

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(177,349)

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—

Segment operating profit

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53,545

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​

40,410

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​

33,018

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​

7,978

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​

2,536

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​

137,487

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Three Months Ended March 28, 2020

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Retail

Industrial

Construction

All Other

Corporate

Total

Net sales to outside customers

​

$

352,161

$

256,543

​

$

381,155

​

$

42,392

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$

(189)

​

$

1,032,062

Intersegment net sales

​

29,858

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​

11,220

​

​

15,423

​

​

53,167

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(109,668)

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—

Segment operating profit

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​

15,512

​

​

18,074

​

​

17,135

​

​

4,739

​

​

3,172

​

​

58,632

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The following table presents goodwill by segment as of March 27, 2021, and December 26, 2020 (in thousands):

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Retail

Industrial

Construction

All Other

Corporate

Total

Balance as of December 26, 2020

$

61,943

$

87,827

$

90,729

$

11,694

​

$

—

$

252,193

2021 Acquisitions

​

18,178

​

​

43,844

​

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—

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​

4,176

​

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—

​

66,198

2021 Purchase Accounting Adjustments

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​

—

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(2,291)

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(1,653)

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(145)

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—

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(4,089)

Foreign Exchange, Net

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—

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—

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(113)

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—

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(113)

Balance as of March 27, 2021

​

$

80,121

$

129,380

​

$

89,076

​

$

15,612

​

$

—

​

$

314,189

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The following table presents total assets by segment as of March 27, 2021, and December 26, 2020 (in thousands).

​	​	​	​	​	​	​	​	​
​	Total Assets by Segment
​	March 27,			December 26,			​	​
Segment Classification	2021		​	2020		​	% Change
Retail	$	944,637	​	$	510,464		85.1	%
Industrial		657,572	​		416,487		57.9	​
Construction		535,527	​		510,972		4.8	​
All Other	​	214,815	​	​	196,856	​	9.1	​
Corporate	​	433,537	​	​	770,112	​	(43.7)	​
Total Assets	$	2,786,088	​	$	2,404,891		15.9	%

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X

- References

No definition available.

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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=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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