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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Oct. 01, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The tables below present information about the sales and operating income of those segments.
Third Quarter Ended October 1, 2023 |  |  |  |  |  |
($ in thousands) |  | Manufacturing |  | Distribution |  | Total
Net outside sales |  | $ | 641,185 |  |  | $ | 224,888 |  |  | $ | 866,073 |
Intersegment sales |  | 18,308 |  |  | 1,971 |  |  | 20,279 |
Total sales |  | $ | 659,493 |  |  | $ | 226,859 |  |  | $ | 886,352 |
Operating income |  | $ | 80,777 |  |  | $ | 24,026 |  |  | $ | 104,803 |
Third Quarter Ended September 25, 2022 |  |  |  |  |  |
($ in thousands) |  | Manufacturing |  | Distribution |  | Total
Net outside sales |  | $ | 828,410 |  |  | $ | 283,679 |  |  | $ | 1,112,089 |
Intersegment sales |  | 18,481 |  |  | 2,859 |  |  | 21,340 |
Total sales |  | $ | 846,891 |  |  | $ | 286,538 |  |  | $ | 1,133,429 |
Operating income |  | $ | 109,462 |  |  | $ | 27,228 |  |  | $ | 136,690 |
Nine Months Ended October 1, 2023 |  |  |  |  |  |
($ in thousands) |  | Manufacturing |  | Distribution |  | Total
Net outside sales |  | $ | 2,021,679 |  |  | $ | 665,179 |  |  | $ | 2,686,858 |
Intersegment sales |  | 50,920 |  |  | 6,585 |  |  | 57,505 |
Total sales |  | $ | 2,072,599 |  |  | $ | 671,764 |  |  | $ | 2,744,363 |
Operating income |  | $ | 263,146 |  |  | $ | 68,172 |  |  | $ | 331,318 |
Nine Months Ended September 25, 2022 |  |  |  |  |  |
($ in thousands) |  | Manufacturing |  | Distribution |  | Total
Net outside sales |  | $ | 2,891,994 |  |  | $ | 1,037,963 |  |  | $ | 3,929,957 |
Intersegment sales |  | 62,426 |  |  | 7,943 |  |  | 70,369 |
Total sales |  | $ | 2,954,420 |  |  | $ | 1,045,906 |  |  | $ | 4,000,326 |
Operating income |  | $ | 460,691 |  |  | $ | 116,835 |  |  | $ | 577,526 |
Schedule of the Reconciliation of Segment Operations | The following table presents a reconciliation of segment operating income to consolidated operating income:
|  | Third Quarter Ended |  | Nine Months Ended
($ in thousands) |  | October 1, 2023 |  | September 25, 2022 |  | October 1, 2023 |  | September 25, 2022
Operating income for reportable segments |  | $ | 104,803 |  |  | $ | 136,690 |  |  | $ | 331,318 |  |  | $ | 577,526 |
Unallocated corporate expenses |  | (14,221) |  |  | (25,160) |  |  | (69,341) |  |  | (94,808) |
Amortization |  | (19,507) |  |  | (18,769) |  |  | (59,093) |  |  | (54,175) |
Consolidated operating income |  | $ | 71,075 |  |  | $ | 92,761 |  |  | $ | 202,884 |  |  | $ | 428,543 |

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- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and 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 (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- 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 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: 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 3: 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 4: 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
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