XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.24.3

SEGMENT REPORTING (Tables) | 9 Months Ended
--- | ---
Sep. 28, 2024
SEGMENT REPORTING |
Segment Reporting | The tables below are presented in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 28, 2024
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 635,571 |  | $ | 401,626 | ​ | $ | 534,625 | ​ | $ | 75,802 | ​ | $ | 1,759 | ​ | $ | 1,649,383
Intersegment net sales | ​ |  | 60,393 | ​ | ​ | 23,791 | ​ | ​ | 18,293 | ​ | ​ | 67,906 | ​ | ​ | (170,383) | ​ |  | —
Earnings from operations | ​ | ​ | 41,812 | ​ | ​ | 21,865 | ​ | ​ | 42,400 | ​ | ​ | 2,547 | ​ | ​ | 11,302 | ​ | ​ | 119,926
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, 2023
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 730,353 |  | $ | 449,885 | ​ | $ | 583,960 | ​ | $ | 62,454 | ​ | $ | 985 | ​ | $ | 1,827,637
Intersegment net sales | ​ |  | 102,190 | ​ | ​ | 16,910 | ​ | ​ | 24,194 | ​ | ​ | 58,903 | ​ | ​ | (202,197) | ​ |  | —
Earnings from operations | ​ | ​ | 46,674 | ​ | ​ | 41,429 | ​ | ​ | 69,560 | ​ | ​ | 5,343 | ​ | ​ | 4,326 | ​ | ​ | 167,332
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.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 28, 2024
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 2,073,403 |  | $ | 1,261,248 | ​ | $ | 1,627,068 | ​ | $ | 224,219 | ​ | $ | 4,370 | ​ | $ | 5,190,308
Intersegment net sales | ​ |  | 189,841 | ​ | ​ | 70,992 | ​ | ​ | 57,125 | ​ | ​ | 219,218 | ​ | ​ | (537,176) | ​ |  | —
Earnings from operations | ​ | ​ | 147,575 | ​ | ​ | 82,627 | ​ | ​ | 139,753 | ​ | ​ | 13,916 | ​ | ​ | 28,912 | ​ | ​ | 412,783
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, 2023
​ |  | Retail |  | Packaging |  | Construction |  | All Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 2,430,277 |  | $ | 1,424,546 | ​ | $ | 1,650,017 | ​ | $ | 185,841 | ​ | $ | 3,350 | ​ | $ | 5,694,031
Intersegment net sales | ​ |  | 524,033 | ​ | ​ | 57,936 | ​ | ​ | 73,584 | ​ | ​ | 211,870 | ​ | ​ | (867,423) | ​ |  | —
Earnings from operations | ​ | ​ | 147,143 | ​ | ​ | 153,025 | ​ | ​ | 185,767 | ​ | ​ | 16,961 | ​ | ​ | 19,641 | ​ | ​ | 522,537
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 |  | ​ | (75) | ​ | ​ | — | ​ | ​ | (86) | ​ | ​ | (60) | ​ | ​ | — |  | ​ | (221)
Balance as of September 28, 2024 | ​ | $ | 84,129 |  | $ | 141,042 | ​ | $ | 87,719 | ​ | $ | 23,202 | ​ | $ | — | ​ | $ | 336,092
Schedule of assets by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Total Assets by Segment
​ | September 28, |  | December 30, |  | ​ | ​
Segment Classification | 2024 | ​ | 2023 | ​ | % Change
Retail | $ | 843,299 | ​ | $ | 828,798 |  | 1.7 | %
Packaging |  | 786,988 | ​ |  | 798,623 |  | (1.5) | ​
Construction |  | 660,815 | ​ |  | 621,762 |  | 6.3 | ​
All Other | ​ | 341,860 | ​ | ​ | 316,481 | ​ | 8.0 | ​
Corporate | ​ | 1,584,923 | ​ | ​ | 1,452,133 | ​ | 9.1 | ​
Total Assets | $ | 4,217,885 | ​ | $ | 4,017,797 |  | 5.0 | %
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 nine months ended September 28, 2024, and September 30, 2023 (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 28, | ​ | September 30, | ​ | September 28, | ​ | September 30, | ​
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Retail | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deckorators | ​ | $ | 76,572 | ​ | $ | 79,508 | ​ | $ | 250,413 | ​ | $ | 260,627 | ​
ProWood | ​ |  | 518,361 | ​ |  | 610,275 | ​ |  | 1,712,597 | ​ |  | 2,055,562 | ​
UFP Edge | ​ |  | 38,277 | ​ |  | 40,246 | ​ |  | 103,570 | ​ |  | 113,014 | ​
Other | ​ |  | 2,361 | ​ |  | 324 | ​ |  | 6,823 | ​ |  | 1,074 | ​
Total Retail | ​ | $ | 635,571 | ​ | $ | 730,353 | ​ | $ | 2,073,403 | ​ | $ | 2,430,277 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Packaging | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Structural Packaging | ​ | $ | 256,959 | ​ | $ | 299,098 | ​ | $ | 811,211 | ​ | $ | 957,857 | ​
PalletOne | ​ | ​ | 126,007 | ​ | ​ | 129,302 | ​ | ​ | 395,408 | ​ | ​ | 403,809 | ​
Protective Packaging | ​ | ​ | 18,660 | ​ | ​ | 21,485 | ​ | ​ | 54,629 | ​ | ​ | 62,880 | ​
Total Packaging | ​ | $ | 401,626 | ​ | $ | 449,885 | ​ | $ | 1,261,248 | ​ | $ | 1,424,546 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Factory Built | ​ | $ | 201,831 | ​ | $ | 197,231 | ​ | $ | 618,907 | ​ | $ | 544,868 | ​
Site Built | ​ |  | 219,626 | ​ |  | 264,734 | ​ |  | 679,732 | ​ |  | 734,297 | ​
Commercial | ​ | ​ | 69,528 | ​ | ​ | 73,302 | ​ | ​ | 197,259 | ​ | ​ | 211,967 | ​
Concrete Forming | ​ |  | 43,640 | ​ |  | 48,693 | ​ |  | 131,170 | ​ |  | 158,885 | ​
Total Construction | ​ | $ | 534,625 | ​ | $ | 583,960 | ​ | $ | 1,627,068 | ​ | $ | 1,650,017 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
All Other | ​ | $ | 75,802 | ​ | $ | 62,454 | ​ | $ | 224,219 | ​ | $ | 185,841 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | $ | 1,759 | ​ | $ | 985 | ​ | $ | 4,370 | ​ | $ | 3,350 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Net Sales | ​ | $ | 1,649,383 | ​ | $ | 1,827,637 | ​ | $ | 5,190,308 | ​ | $ | 5,694,031 | ​
​

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of product information that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfProductInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration