XML 23 R11.htm IDEA: XBRL DOCUMENT v3.25.3
Revenue Recognition
 9 Months Ended
Sep. 27, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The following table presents the Company’s revenues disaggregated by revenue source. Sales and usage-based taxes are excluded from revenues.
Three Fiscal Months EndedNine Fiscal Months Ended
Product typeSeptember 27, 2025September 28, 2024September 27, 2025September 28, 2024
(In thousands)
Specialty products$525,455 $519,000 $1,548,301 $1,562,300 
Structural products223,415 228,288 689,902 679,595 
Total net sales$748,870 $747,288 $2,238,203 $2,241,895 

The following table presents the Company’s revenues disaggregated by sales channel. Warehouse sales are delivered from the Company’s warehouses. Reload sales are similar to warehouse sales but are shipped from non-warehouse locations, most of which are operated by third parties, where the Company stores owned products to enhance operating efficiencies. The reload channel is employed primarily to service strategic customers that are less economical to service from Company warehouses, and to distribute large volumes of imported products from port facilities. Direct sales are shipped from the manufacturer to the customer and therefore the Company does not take physical possession of the inventory and, as a result, typically generate lower margins than the warehouse and reload distribution channels. The direct distribution channel requires the lowest amount of committed capital and fixed costs.
Three Fiscal Months EndedNine Fiscal Months Ended
Sales channelSeptember 27, 2025September 28, 2024September 27, 2025September 28, 2024
(In thousands)
Warehouse and reload$627,704 $622,981 $1,849,479 $1,843,942 
Direct137,640 140,505 435,222 445,606 
Customer discounts and rebates(16,474)(16,198)(46,498)(47,653)
Total net sales$748,870 $747,288 $2,238,203 $2,241,895 

The Company generally expenses sales commissions when incurred because the amortization period would typically be one year or less. These expenses are recorded within SG&A expense on the Company’s consolidated statements of operations.

The Company has made an accounting policy election to treat outbound shipping and handling activities as an SG&A expense. Shipping and handling expenses include amounts related to the administration of the Company’s logistical infrastructure, handling of material in its warehouses, and amounts pertaining to the delivery of products to customers, such as fuel and maintenance expenses for mobile fleet, wages for drivers, and third-party freight charges. These expenses were $41.1 million and $39.2 million for the three fiscal months ended September 27, 2025 and September 28, 2024, respectively, and $121.9 million and $115.0 million for the nine fiscal months ended September 27, 2025 and September 28, 2024, respectively.

Performance obligations in contracts with customers generally consist solely of the delivery of goods.