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SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 29, 2024
SEGMENT REPORTING |
Segment Reporting | The tables below are presented in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 29, 2024
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 809,067 |  | $ | 435,204 | ​ | $ | 574,547 | ​ | $ | 81,470 | ​ | $ | 1,671 | ​ | $ | 1,901,959
Intersegment net sales | ​ |  | 70,102 | ​ | ​ | 26,275 | ​ | ​ | 18,797 | ​ | ​ | 80,055 | ​ | ​ | (195,229) | ​ |  | —
Earnings from operations | ​ | ​ | 59,783 | ​ | ​ | 29,516 | ​ | ​ | 52,011 | ​ | ​ | 7,496 | ​ | ​ | 10,228 | ​ | ​ | 159,034
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended July 1, 2023
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 938,630 |  | $ | 488,100 | ​ | $ | 550,464 | ​ | $ | 67,592 | ​ | $ | (868) | ​ | $ | 2,043,918
Intersegment net sales | ​ |  | 198,518 | ​ | ​ | 20,976 | ​ | ​ | 23,554 | ​ | ​ | 75,480 | ​ | ​ | (318,528) | ​ |  | —
Earnings from operations | ​ | ​ | 60,211 | ​ | ​ | 56,864 | ​ | ​ | 61,959 | ​ | ​ | 6,786 | ​ | ​ | 7,677 | ​ | ​ | 193,497
Note: As of December 31, 2023, our Pinelli Universal entity was transferred to our Retail segment from our International segment (grouped in All Other) due to changes in our management structure. Prior year figures have been updated to reflect the change for comparability purposes in every applicable table in this filing.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 29, 2024
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 1,437,832 |  | $ | 859,622 | ​ | $ | 1,092,443 | ​ | $ | 148,417 | ​ | $ | 2,611 | ​ | $ | 3,540,925
Intersegment net sales | ​ |  | 129,448 | ​ | ​ | 47,201 | ​ | ​ | 38,832 | ​ | ​ | 151,312 | ​ | ​ | (366,793) | ​ |  | —
Earnings from operations | ​ | ​ | 105,763 | ​ | ​ | 60,762 | ​ | ​ | 97,353 | ​ | ​ | 11,369 | ​ | ​ | 17,610 | ​ | ​ | 292,857
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended July 1, 2023
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 1,699,924 |  | $ | 974,661 | ​ | $ | 1,066,057 | ​ | $ | 123,387 | ​ | $ | 2,365 | ​ | $ | 3,866,394
Intersegment net sales | ​ |  | 421,843 | ​ | ​ | 41,026 | ​ | ​ | 49,390 | ​ | ​ | 152,967 | ​ | ​ | (665,226) | ​ |  | —
Earnings from operations | ​ | ​ | 100,469 | ​ | ​ | 111,596 | ​ | ​ | 116,207 | ​ | ​ | 11,618 | ​ | ​ | 15,315 | ​ | ​ | 355,205
Schedule of Goodwill by Segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Balance as of December 30, 2023 |  | $ | 84,204 |  | $ | 141,042 |  | $ | 87,805 |  | $ | 23,262 | ​ | $ | — |  | $ | 336,313
Foreign Exchange, Net |  | ​ | (44) | ​ | ​ | — | ​ | ​ | (170) | ​ | ​ | (651) | ​ | ​ | — |  | ​ | (865)
Balance as of June 29, 2024 | ​ | $ | 84,160 |  | $ | 141,042 | ​ | $ | 87,635 | ​ | $ | 22,611 | ​ | $ | — | ​ | $ | 335,448
Schedule of assets by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Total Assets by Segment
​ | June 29, |  | December 30, |  | ​ | ​
Segment Classification | 2024 | ​ | 2023 | ​ | % Change
Retail | $ | 916,574 | ​ | $ | 828,798 |  | 10.6 | %
Packaging |  | 802,204 | ​ |  | 798,623 |  | 0.4 | ​
Construction |  | 666,622 | ​ |  | 621,762 |  | 7.2 | ​
All Other | ​ | 337,962 | ​ | ​ | 316,481 | ​ | 6.8 | ​
Corporate | ​ | 1,415,132 | ​ | ​ | 1,452,133 | ​ | (2.5) | ​
Total Assets | $ | 4,138,494 | ​ | $ | 4,017,797 |  | 3.0 | %
Gross Sales by Major Product Classification | The following table presents our disaggregated net sales (in thousands) by business unit for each segment for the three and six months ended June 29, 2024, and July 1, 2023 (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1, | ​
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Retail | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deckorators | ​ | $ | 99,706 | ​ | $ | 103,656 | ​ | $ | 173,841 | ​ | $ | 181,119 | ​
ProWood | ​ |  | 668,275 | ​ |  | 794,287 | ​ |  | 1,194,236 | ​ |  | 1,445,287 | ​
UFP Edge | ​ |  | 38,009 | ​ |  | 40,216 | ​ |  | 65,293 | ​ |  | 72,768 | ​
Other | ​ |  | 3,077 | ​ |  | 471 | ​ |  | 4,462 | ​ |  | 750 | ​
Total Retail | ​ | $ | 809,067 | ​ | $ | 938,630 | ​ | $ | 1,437,832 | ​ | $ | 1,699,924 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Packaging | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Structural Packaging | ​ | $ | 280,102 | ​ | $ | 330,510 | ​ | $ | 554,252 | ​ | $ | 658,760 | ​
PalletOne | ​ | ​ | 136,911 | ​ | ​ | 136,937 | ​ | ​ | 269,401 | ​ | ​ | 274,507 | ​
Protective Packaging | ​ | ​ | 18,191 | ​ | ​ | 20,653 | ​ | ​ | 35,969 | ​ | ​ | 41,394 | ​
Total Packaging | ​ | $ | 435,204 | ​ | $ | 488,100 | ​ | $ | 859,622 | ​ | $ | 974,661 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Factory Built | ​ | $ | 225,242 | ​ | $ | 180,024 | ​ | $ | 417,076 | ​ | $ | 347,637 | ​
Site Built | ​ |  | 238,547 | ​ |  | 248,445 | ​ |  | 460,106 | ​ |  | 469,562 | ​
Commercial | ​ | ​ | 66,347 | ​ | ​ | 66,320 | ​ | ​ | 127,731 | ​ | ​ | 138,665 | ​
Concrete Forming | ​ |  | 44,411 | ​ |  | 55,675 | ​ |  | 87,530 | ​ |  | 110,193 | ​
Total Construction | ​ | $ | 574,547 | ​ | $ | 550,464 | ​ | $ | 1,092,443 | ​ | $ | 1,066,057 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
All Other | ​ | $ | 81,470 | ​ | $ | 67,592 | ​ | $ | 148,417 | ​ | $ | 123,387 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | $ | 1,671 | ​ | $ | (868) | ​ | $ | 2,611 | ​ | $ | 2,365 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Net Sales | ​ | $ | 1,901,959 | ​ | $ | 2,043,918 | ​ | $ | 3,540,925 | ​ | $ | 3,866,394 | ​

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