| SEGMENT INFORMATION |
The Company has two reportable segments, Manufacturing and Distribution, which are based on its method of internal reporting, which segregates its businesses based on the manner in which its chief operating decision maker allocates resources, evaluates financial results, and determines compensation. The tables below present information about the sales and operating income of those segments.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Third Quarter Ended September 27, 2020 |
|
|
|
|
|
|
| (thousands) |
|
Manufacturing |
|
Distribution |
|
Total |
| Net outside sales |
|
$ |
494,274
|
|
|
$ |
206,433
|
|
|
$ |
700,707
|
|
| Intersegment sales |
|
12,004
|
|
|
1,640
|
|
|
13,644
|
|
| Total sales |
|
506,278
|
|
|
208,073
|
|
|
714,351
|
|
| Operating income |
|
63,312
|
|
|
16,444
|
|
|
79,756
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Third Quarter Ended September 29, 2019 |
|
|
|
|
|
|
| (thousands) |
|
Manufacturing |
|
Distribution |
|
Total |
| Net outside sales |
|
$ |
399,712 |
|
|
$ |
166,474 |
|
|
$ |
566,186 |
|
| Intersegment sales |
|
8,102 |
|
|
1,078 |
|
|
9,180 |
|
| Total sales |
|
407,814 |
|
|
167,552 |
|
|
575,366 |
|
| Operating income |
|
42,353 |
|
|
9,041 |
|
|
51,394 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nine Months Ended September 27, 2020 |
|
|
|
|
|
|
| (thousands) |
|
Manufacturing |
|
Distribution |
|
Total |
| Net outside sales |
|
$ |
1,206,114
|
|
|
$ |
507,870
|
|
|
$ |
1,713,984
|
|
| Intersegment sales |
|
24,691
|
|
|
4,025
|
|
|
28,716
|
|
| Total sales |
|
1,230,805
|
|
|
511,895
|
|
|
1,742,700
|
|
| Operating income |
|
131,426
|
|
|
33,350
|
|
|
164,776
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nine Months Ended September 29, 2019 |
|
|
|
|
|
|
| (thousands) |
|
Manufacturing |
|
Distribution |
|
Total |
| Net outside sales |
|
$ |
1,259,671 |
|
|
$ |
527,951 |
|
|
$ |
1,787,622 |
|
| Intersegment sales |
|
24,153 |
|
|
3,361 |
|
|
27,514 |
|
| Total sales |
|
1,283,824 |
|
|
531,312 |
|
|
1,815,136 |
|
| Operating income |
|
135,577 |
|
|
28,132 |
|
|
163,709 |
|
The following table presents a reconciliation of segment operating income to consolidated operating income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Third Quarter Ended |
|
Nine Months Ended |
| (thousands) |
|
September 27, 2020 |
|
September 29, 2019 |
|
September 27, 2020 |
|
September 29, 2019 |
| Operating income for reportable segments |
|
$ |
79,756
|
|
|
$ |
51,394 |
|
|
$ |
164,776
|
|
|
$ |
163,709 |
|
| Unallocated corporate expenses |
|
(9,706) |
|
|
(4,793) |
|
|
(23,962) |
|
|
(18,796) |
|
| Amortization |
|
(10,221) |
|
|
(9,191) |
|
|
(29,600) |
|
|
(26,448) |
|
| Consolidated operating income |
|
$ |
59,829
|
|
|
$ |
37,410 |
|
|
$ |
111,214
|
|
|
$ |
118,465 |
|
|