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SEGMENT REPORTING | 6 Months Ended
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Jun. 26, 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 26, 2021
​ |  | Retail |  | Industrial |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 1,259,218 |  | $ | 611,181 | ​ | $ | 738,704 | ​ | $ | 89,470 | ​ | $ | 1,968 | ​ | $ | 2,700,541
Intersegment net sales | ​ |  | 65,147 | ​ | ​ | 24,985 | ​ | ​ | 20,034 | ​ | ​ | 126,054 | ​ | ​ | (236,220) | ​ |  | —
Segment operating profit | ​ | ​ | 62,051 | ​ | ​ | 79,526 | ​ | ​ | 67,107 | ​ | ​ | 16,304 | ​ | ​ | 11,947 | ​ | ​ | 236,935
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​ | ​ | Three Months Ended June 27, 2020
​ |  | Retail |  | Industrial |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 609,190 |  | $ | 224,379 | ​ | $ | 359,170 | ​ | $ | 49,411 | ​ | $ | (149) | ​ | $ | 1,242,001
Intersegment net sales | ​ |  | 34,104 |  | ​ | 9,795 | ​ |  | 16,353 | ​ |  | 67,712 | ​ |  | (127,964) | ​ |  | —
Segment operating profit | ​ | ​ | 45,775 | ​ | ​ | 15,420 | ​ | ​ | 19,542 | ​ | ​ | 8,633 | ​ | ​ | 2,989 | ​ | ​ | 92,359
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​ | ​ | Six Months Ended June 26, 2021
​ |  | Retail |  | Industrial |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 2,018,239 |  | $ | 1,060,055 | ​ | $ | 1,298,234 | ​ | $ | 145,047 | ​ | $ | 3,970 | ​ | $ | 4,525,545
Intersegment net sales | ​ |  | 112,733 | ​ | ​ | 42,891 | ​ | ​ | 34,495 | ​ | ​ | 223,450 | ​ | ​ | (413,569) | ​ |  | —
Segment operating profit | ​ | ​ | 115,596 | ​ | ​ | 119,936 | ​ | ​ | 100,125 | ​ | ​ | 24,282 | ​ | ​ | 14,483 | ​ | ​ | 374,422
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​ | ​ | Six Months Ended June 27, 2020
​ |  | Retail |  | Industrial |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 961,351 |  | $ | 480,922 | ​ | $ | 740,325 | ​ | $ | 91,804 | ​ | $ | (339) | ​ | $ | 2,274,063
Intersegment net sales | ​ |  | 63,962 |  | ​ | 21,015 | ​ |  | 31,776 | ​ |  | 120,879 | ​ |  | (237,632) | ​ |  | —
Segment operating profit | ​ | ​ | 59,901 | ​ | ​ | 31,800 | ​ | ​ | 34,031 | ​ | ​ | 13,124 | ​ | ​ | 12,134 | ​ | ​ | 150,990
​ The following table presents goodwill by segment as of June 26, 2021, and December 26, 2020 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 |  | ​ | 19,442 | ​ | ​ | 43,844 | ​ | ​ | 4,570 | ​ | ​ | 4,176 | ​ | ​ | — |  | ​ | 72,032
2021 Purchase Accounting Adjustments | ​ | ​ | — | ​ | ​ | (2,291) | ​ | ​ | (1,653) | ​ | ​ | (2,060) | ​ | ​ | — | ​ | ​ | (6,004)
Foreign Exchange, Net |  | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (113) | ​ | ​ | — |  | ​ | (113)
Balance as of June 26, 2021 | ​ | $ | 81,385 |  | $ | 129,380 | ​ | $ | 93,646 | ​ | $ | 13,697 | ​ | $ | — | ​ | $ | 318,108
​ The following table presents total assets by segment as of June 26, 2021, and December 26, 2020 (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Total Assets by Segment
​ | June 26, |  | December 26, |  | ​ | ​
Segment Classification | 2021 | ​ | 2020 | ​ | % Change
Retail | $ | 1,053,736 | ​ | $ | 510,464 |  | 106.4 | %
Industrial |  | 784,049 | ​ |  | 416,487 |  | 88.3 | ​
Construction |  | 640,982 | ​ |  | 510,972 |  | 25.4 | ​
All Other | ​ | 266,720 | ​ | ​ | 196,856 | ​ | 35.5 | ​
Corporate | ​ | 482,796 | ​ | ​ | 770,112 | ​ | (37.3) | ​
Total Assets | $ | 3,228,283 | ​ | $ | 2,404,891 |  | 34.2 | %
​

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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 -Paragraph 34 -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 -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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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