XML 58 R35.htm IDEA: XBRL DOCUMENT

SEGMENT REPORTING (Tables)

12 Months Ended

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.