v3.25.2
Segment Reporting
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has one reportable segment: building products. The segment sells building products that are grouped into two primary categories: specialty products and structural products. The Company’s chief operating decision maker (“CODM”), as that term is defined under U.S. GAAP, is its chief executive officer (CEO). The Company derives substantially all of its revenues from the United States and all of the Company’s assets are located in the United States. The measure of segment assets is reported on the Company’s balance sheet as total consolidated assets. The segment’s accounting policies are the same as the accounting policies for the Company, as described in Note 1, Summary of Significant Accounting Policies, in Part II, Item 8 of the Company’s most recent Annual Report on Form 10-K.

The CODM’s method under GAAP that is used to assess performance and allocate resources is based on Net income as reported on the Company’s consolidated statement of operations. The following table presents information about Net income and significant expenses that are regularly reviewed by the Company’s CODM:

Three Fiscal Months EndedSix Fiscal Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
(In thousands)
Net sales$780,107 $768,363 $1,489,333 $1,494,607 
Expenses:
Cost of specialty products sold443,177 435,116 832,786 834,901 
Cost of structural products sold217,241 210,803 425,729 409,581 
SG&A - delivery and logistics41,343 37,608 80,781 75,764 
SG&A - sales18,519 17,420 36,276 34,848 
SG&A - all other35,403 34,425 72,301 70,091 
Depreciation of property and equipment8,836 9,140 17,437 17,548 
Amortization of definite-lived intangible assets954 980 1,907 2,005 
Amortization of deferred gains on real estate(983)(984)(1,967)(1,968)
Interest expense12,640 11,181 24,693 24,290 
Interest income(4,183)(6,380)(9,656)(14,865)
Other operating, net582 8 (1,676)322 
Provision for income taxes2,268 4,710 3,607 10,262 
Total segment expenses775,797 754,027 1,482,218 1,462,779 
Segment net income4,310 14,336 7,115 31,828 
Reconciliation of profit or loss:
Adjustments and reconciling items— — — — 
Consolidated net income$4,310 $14,336 $7,115 $31,828 

During the first quarter of fiscal 2025, the Company settled certain of the initial insurance claims related to property and equipment that was damaged or destroyed at its Erwin, Tennessee owned facility in late third quarter of fiscal 2024 due to Hurricane Helene. The Company received insurance proceeds that exceeded the carrying values of the damaged or destroyed assets by $2.4 million and this amount is included in Other Operating, net on the Company’s unaudited condensed consolidated statement of operations for the six fiscal months ended June 28, 2025.