v3.22.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The tables below present information that is provided to the chief operating decision maker of the Company as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021 and 2020 (in thousands):  
2022
  Manufacturing Distribution Total
Net outside sales $ 3,603,766  $ 1,278,106  $ 4,881,872 
Intersegment sales 77,646  9,491  87,137 
Total sales 3,681,412  1,287,597  4,969,009 
Operating income 531,547  136,889  668,436 
Total assets 2,302,745  407,861  2,710,606 
Capital expenditures 67,635  3,801  71,436 
Depreciation and amortization 114,782  11,422  126,204 
2021
  Manufacturing Distribution Total
Net outside sales $ 2,930,466  $ 1,147,626  $ 4,078,092 
Intersegment sales 71,641  7,028  78,669 
Total sales 3,002,107  1,154,654  4,156,761 
Operating income 379,885  106,241  486,126 
Total assets 2,031,465  464,575  2,496,040 
Capital expenditures 58,700  3,873  62,573 
Depreciation and amortization 89,899  10,790  100,689 
2020
  Manufacturing Distribution Total
Net outside sales $ 1,729,451  $ 757,146  $ 2,486,597 
Intersegment sales 36,367  5,326  41,693 
Total sales 1,765,818  762,472  2,528,290 
Operating income 190,518  54,376  244,894 
Capital expenditures 30,588  788  31,376 
Depreciation and amortization 61,407  8,527  69,934 
Schedule of Reconciliation of Other Significant Reconciling Items From Segments
A reconciliation of certain line items pertaining to the total reportable segments to the consolidated financial statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021 and 2020 is as follows (in thousands):
  2022 2021
2020
Net sales:      
Total sales for reportable segments $ 4,969,009  $ 4,156,761  $ 2,528,290 
Elimination of intersegment sales (87,137) (78,669) (41,693)
Consolidated net sales $ 4,881,872  $ 4,078,092  $ 2,486,597 
Operating income:    
Operating income for reportable segments $ 668,436  $ 486,126  $ 244,894 
Unallocated corporate expenses (99,037) (78,085) (30,653)
Amortization (73,229) (56,329) (40,868)
Consolidated operating income $ 496,170  $ 351,712  $ 173,373 
Total assets:      
Identifiable assets for reportable segments $ 2,710,606  $ 2,496,040 
Corporate assets unallocated to segments 49,018  31,842 
Cash and cash equivalents 22,847  122,849 
Consolidated total assets $ 2,782,471  $ 2,650,731 
Depreciation and amortization:      
Depreciation and amortization for reportable segments $ 126,204  $ 100,689  $ 69,934 
Corporate depreciation and amortization 4,553  4,119  3,336 
Consolidated depreciation and amortization $ 130,757  $ 104,808  $ 73,270 
Capital expenditures:
Capital expenditures for reportable segments $ 71,436  $ 62,573  $ 31,376 
Corporate capital expenditures 8,447  2,231  724 
  Consolidated capital expenditures $ 79,883  $ 64,804  $ 32,100 
Schedules of Concentration of Risk, by Risk Factor
The Company had two major customers that accounted for the following sales in our Manufacturing and Distribution segments for the years ended December 31, 2022, 2021 and 2020 and trade receivables balances at December 31, 2022 and 2021 as shown in the table below:
2022
2021
2020
Customer 1
Net sales 21  % 24  % 22  %
Trade receivables 4  % 14  %
Customer 2
Net sales 17  % 18  % 17  %
Trade receivables 6  % 12  %