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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 30, 2023
SEGMENT REPORTING |
Segment Reporting | The tables below are presented in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 2,886,515 | ​ | $ | 1,838,200 | ​ | $ | 2,161,059 | ​ | $ | 328,884 | ​ | $ | 3,726 | ​ | $ | 7,218,384
Intersegment net sales | ​ |  | 565,325 | ​ |  | 83,549 | ​ |  | 96,729 | ​ |  | 268,210 | ​ |  | (1,013,813) | ​ |  | —
Interest expense(1) | ​ |  | 111 | ​ |  | 7 | ​ |  | — | ​ |  | (3,020) | ​ |  | 15,744 | ​ |  | 12,842
Amortization expense | ​ |  | 4,566 | ​ | ​ | 8,849 | ​ | ​ | 2,904 | ​ | ​ | 3,488 | ​ | ​ | 1,520 | ​ |  | 21,327
Depreciation expense | ​ |  | 23,943 | ​ | ​ | 32,996 | ​ | ​ | 19,546 | ​ | ​ | 3,994 | ​ | ​ | 30,084 | ​ |  | 110,563
Segment earnings before income taxes | ​ |  | 167,955 | ​ |  | 193,563 | ​ |  | 243,357 | ​ |  | 37,573 | ​ |  | 28,793 | ​ |  | 671,241
Segment assets | ​ |  | 781,005 | ​ | ​ | 798,623 | ​ | ​ | 621,762 | ​ | ​ | 364,274 | ​ | ​ | 1,452,133 | ​ |  | 4,017,797
Capital expenditures | ​ |  | 52,756 | ​ | ​ | 52,694 | ​ | ​ | 56,793 | ​ | ​ | 1,432 | ​ | ​ | 16,707 | ​ |  | 180,382
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 3,650,639 | ​ | $ | 2,394,681 | ​ | $ | 3,143,868 | ​ | $ | 431,611 | ​ | $ | 5,940 | ​ | $ | 9,626,739
Intersegment net sales | ​ |  | 392,740 | ​ |  | 78,409 | ​ |  | 110,523 | ​ |  | 421,406 | ​ |  | (1,003,078) | ​ |  | —
Interest expense(1) | ​ |  | 177 | ​ |  | (2) | ​ |  | — | ​ |  | (1,310) | ​ |  | 15,045 | ​ |  | 13,910
Amortization expense | ​ |  | 4,131 | ​ |  | 6,925 | ​ |  | 3,358 | ​ |  | 4,571 | ​ |  | 514 | ​ |  | 19,499
Depreciation expense | ​ |  | 19,898 | ​ |  | 28,191 | ​ |  | 15,364 | ​ |  | 2,992 | ​ |  | 27,618 | ​ |  | 94,063
Segment earnings before income taxes | ​ |  | 150,165 | ​ |  | 333,087 | ​ |  | 397,446 | ​ |  | 56,813 | ​ |  | (2,695) | ​ |  | 934,816
Segment assets | ​ |  | 889,417 | ​ | ​ | 885,878 | ​ | ​ | 712,837 | ​ | ​ | 308,688 | ​ | ​ | 875,253 | ​ |  | 3,672,073
Capital expenditures | ​ |  | 55,806 | ​ | ​ | 55,129 | ​ | ​ | 54,167 | ​ | ​ | 3,968 | ​ | ​ | 5,054 | ​ |  | 174,124
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 3,418,337 | ​ | $ | 2,148,142 | ​ | $ | 2,698,434 | ​ | $ | 362,473 | ​ | $ | 8,748 | ​ | $ | 8,636,134
Intersegment net sales | ​ |  | 214,400 | ​ |  | 85,954 | ​ |  | 82,026 | ​ |  | 455,874 | ​ |  | (838,254) | ​ |  | —
Interest expense(1) | ​ |  | 98 | ​ |  | 12 | ​ |  | 1 | ​ |  | 184 | ​ |  | 13,519 | ​ |  | 13,814
Amortization expense | ​ |  | 2,780 | ​ |  | 6,093 | ​ |  | 3,525 | ​ |  | 1,336 | ​ |  | 214 | ​ |  | 13,948
Depreciation expense | ​ |  | 16,955 | ​ |  | 26,219 | ​ |  | 13,151 | ​ |  | 2,094 | ​ |  | 25,765 | ​ |  | 84,184
Segment earnings before income taxes | ​ |  | 124,790 | ​ |  | 264,958 | ​ |  | 264,238 | ​ |  | 80,905 | ​ |  | (8,555) | ​ |  | 726,336
Segment assets | ​ |  | 844,189 | ​ | ​ | 741,672 | ​ | ​ | 736,157 | ​ | ​ | 343,363 | ​ | ​ | 579,890 | ​ |  | 3,245,271
Capital expenditures | ​ |  | 40,408 | ​ | ​ | 42,652 | ​ | ​ | 22,344 | ​ | ​ | 5,140 | ​ | ​ | 40,622 | ​ |  | 151,166
(1) Interest expense includes intercompany interest between segments.
Information Regarding Principal Geographic Areas | Information regarding principal geographic areas was as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | Long-Lived | ​ | ​ | ​ | ​ | Long-Lived | ​ | ​ | ​ | ​ | Long-Lived
​ | ​ | ​ | ​ | ​ | Tangible | ​ | ​ | ​ | ​ | Tangible | ​ | ​ | ​ | ​ | Tangible
​ |  | Net Sales |  | Assets |  | Net Sales |  | Assets |  | Net Sales |  | Assets
United States | ​ | $ | 6,935,431 | ​ | $ | 779,748 | ​ | $ | 9,254,676 | ​ | $ | 770,921 | ​ | $ | 8,395,737 | ​ | $ | 679,757
Foreign | ​ |  | 282,953 | ​ | ​ | 188,042 | ​ | ​ | 372,063 | ​ | ​ | 126,840 | ​ | ​ | 240,397 | ​ | ​ | 54,873
Total | ​ | $ | 7,218,384 | ​ | $ | 967,790 | ​ | $ | 9,626,739 | ​ | $ | 897,761 | ​ | $ | 8,636,134 | ​ | $ | 734,630
Percentage of Value-added and Commodity-based Sales to Total Sales | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 |  | 2022 |  | 2021
Value-Added | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retail | ​ | ​ | 50.5% | ​ | ​ | 44.9% | ​ | ​ | 43.2%
Packaging | ​ | ​ | 77.0% | ​ | ​ | 72.0% | ​ | ​ | 67.7%
Construction | ​ | ​ | 83.2% | ​ | ​ | 77.2% | ​ | ​ | 73.0%
All Other | ​ | ​ | 83.8% | ​ | ​ | 76.3% | ​ | ​ | 74.7%
Corporate | ​ | ​ | 27.5% | ​ | ​ | 44.3% | ​ | ​ | 67.9%
Total | ​ | ​ | 68.4% | ​ | ​ | 63.4% | ​ | ​ | 59.7%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity-Based | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retail | ​ | ​ | 49.5% | ​ | ​ | 55.1% | ​ | ​ | 56.8%
Packaging | ​ | ​ | 23.0% | ​ | ​ | 28.0% | ​ | ​ | 32.3%
Construction | ​ | ​ | 16.8% | ​ | ​ | 22.8% | ​ | ​ | 27.0%
All Other | ​ | ​ | 16.2% | ​ | ​ | 23.7% | ​ | ​ | 25.3%
Corporate | ​ | ​ | 72.5% | ​ | ​ | 55.7% | ​ | ​ | 32.1%
Total | ​ | ​ | 31.6% | ​ | ​ | 36.6% | ​ | ​ | 40.3%
​
Gross Sales by Major Product Classification | The following table presents, for the periods indicated, our disaggregated net sales (in thousands) by business unit for each segment.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Retail | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deckorators | ​ | $ | 309,419 | ​ | $ | 326,011 | ​ | $ | 248,765
ProWood | ​ |  | 2,494,362 | ​ |  | 3,152,950 | ​ |  | 3,013,620
UFP Edge | ​ |  | 81,603 | ​ |  | 168,190 | ​ |  | 148,927
Other | ​ |  | 1,131 | ​ |  | 3,488 | ​ |  | 7,025
Total Retail | ​ | $ | 2,886,515 | ​ | $ | 3,650,639 | ​ | $ | 3,418,337
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Packaging(1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Structural Packaging | ​ | $ | 1,225,204 | ​ | $ | 1,716,021 | ​ | $ | 1,554,857
PalletOne | ​ | ​ | 530,642 | ​ | ​ | 628,969 | ​ | ​ | 574,466
Protective Packaging | ​ | ​ | 82,354 | ​ | ​ | 49,691 | ​ | ​ | 18,819
Total Packaging | ​ | $ | 1,838,200 | ​ | $ | 2,394,681 | ​ | $ | 2,148,142
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Factory Built | ​ | $ | 718,773 | ​ | $ | 1,181,837 | ​ | $ | 1,098,905
Site Built | ​ |  | 977,129 | ​ |  | 1,361,607 | ​ |  | 1,190,393
Commercial | ​ | ​ | 265,079 | ​ | ​ | 336,298 | ​ | ​ | 259,360
Concrete Forming | ​ |  | 200,078 | ​ |  | 264,126 | ​ |  | 149,776
Total Construction | ​ | $ | 2,161,059 | ​ | $ | 3,143,868 | ​ | $ | 2,698,434
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
All Other | ​ | $ | 328,884 | ​ | $ | 431,611 | ​ | $ | 362,473
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | $ | 3,726 | ​ | $ | 5,940 | ​ | $ | 8,748
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Net Sales | ​ | $ | 7,218,384 | ​ | $ | 9,626,739 | ​ | $ | 8,636,134
(1) Effective January 1, 2023, the Packaging segment established new business units as follows: Structural Packaging, PalletOne, and Protective Packaging Solutions. This change resulted in the transfer of net sales from the these geographic business units to Structural Packaging, PalletOne and Protective Packaging in 2023. Product codes have been transferred within these three business units during 2023, and prior year figures have been updated to reflect the change for comparability purposes.

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