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SEGMENT INFORMATION
 6 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has two reportable segments, Manufacturing and Distribution, which are defined based on the way in which internally reported information is regularly reviewed and evaluated by the Company’s chief operating decision maker (the "CODM"), who is our Chairman and Chief Executive Officer, to allocate resources, evaluate financial results and make decisions. The Company does not measure profitability at the end market (RV, marine, powersports, MH and industrial) level.

Manufacturing – This segment includes the following products: laminated products that are utilized to produce furniture, shelving, walls, countertops and cabinet products; cabinet doors; fiberglass bath fixtures and tile systems; hardwood furniture; vinyl printing; RV and marine furniture; audio systems and accessories, including amplifiers, tower speakers, soundbars, and subwoofers; decorative vinyl and paper laminated panels; solid surface, granite, and quartz countertop fabrication; RV painting; fabricated aluminum products; fiberglass and plastic components; fiberglass bath fixtures and tile systems; softwoods lumber; custom cabinetry; polymer-based and other flooring; electrical systems components including instrument and dash panels; wrapped vinyl, paper and hardwood profile mouldings; interior passage doors; air handling products; slide-out trim and fascia; thermoformed shower surrounds; specialty bath and
closet building products; fiberglass and plastic helm systems and components products; treated, untreated and laminated plywood; wiring and wire harnesses; adhesives and sealants; boat towers, tops, trailers and frames; marine hardware and accessories; protective covers for boats, RVs, aircraft, and military and industrial equipment; aluminum and plastic fuel tanks; CNC molds and composite parts; roofs/canopies; wiper systems; integrated door systems; windshield systems; slotwall panels and components; fender flares and rear panels; and other products.

Distribution – The Company distributes pre-finished wall and ceiling panels; drywall and drywall finishing products; electronics and audio systems components; appliances; marine accessories and components; wiring, electrical and plumbing products; fiber reinforced polyester products; cement siding; raw and processed lumber; interior passage doors; roofing products; laminate and ceramic flooring; tile; shower doors; furniture; fireplaces and surrounds; interior and exterior lighting products; RV awnings, windows, fiberglass siding and roofing; marine windshields; and other miscellaneous products in addition to providing transportation and logistics services.

The CODM evaluates the performance of the Company's segments and allocates resources to them based on a variety of indicators including but not limited to net sales, gross profit and operating income. On at least a quarterly basis, the CODM considers actual to budget variances as well as actual to prior year actual performance for both profit measures when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses segment gross profit and segment operating income to assess the performance of each segment by comparing the results of each segment with one another.

The accounting policies of the segments are the same as those described in Note 1 "Basis of Presentation and Significant Accounting Policies" included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 20, 2025. Segment net sales data includes inter-segment sales. The Company accounts for inter-segment sales similar to third party transactions, which reflect current market prices. Certain income from purchase incentive agreements is not allocated to the segments and instead recorded at the corporate level. Assets are identified to the segments except for cash, prepaid expenses, land and buildings, and certain deferred assets, which are identified with corporate. Corporate charges rent to the segments for use of the land and buildings based upon estimated market rates.

The following tables summarize key financial information by segment:
Second Quarter Ended June 29, 2025
($ in thousands)ManufacturingDistribution
Total
Total net sales$776,520 $277,488 $1,054,008 
Cost of goods sold597,232 205,314 802,546 
Gross profit$179,288 $72,174 $251,462 
Operating expenses76,165 39,756 115,921 
  Operating income$103,123 $32,418 $135,541 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative24,305 
Amortization of intangible assets24,515 
Interest expense, net18,869 
Elimination of inter-segment profits(1)
Other expense24,420
Consolidated income before income taxes$43,433 
Capital expenditures$12,256 $8 $12,264 
Depreciation and amortization$36,413 $4,559 $40,972 
 Second Quarter Ended June 30, 2024
($ in thousands)
Manufacturing
Distribution
Total
Total net sales
$774,231 $265,237 $1,039,468 
Cost of goods sold
595,487 207,105 802,592 
Gross Profit
$178,744 $58,132 $236,876 
Operating expenses
69,992 27,974 97,966 
Operating income
$108,752 $30,158 $138,910 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative
24,654 
Amortization of intangible assets
24,254 
Interest expense, net
20,343 
Elimination of inter-segment profits
5,313 
Consolidated income before income taxes
$64,346 
Capital expenditures$7,784 $2,146 $9,930 
Depreciation and amortization
$35,673 $4,067 $39,740 
Six Months Ended June 29, 2025
($ in thousands)ManufacturingDistribution
Total
Total net sales$1,531,007 $531,574 $2,062,581 
Cost of goods sold1,182,328 397,699 1,580,027 
Gross profit$348,679 $133,875 $482,554 
Operating expenses147,435 76,457 223,892 
  Operating income$201,244 $57,418 $258,662 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative55,884 
Amortization of intangible assets48,976 
Interest expense, net37,981 
Elimination of inter-segment profits1,511 
Other expense24,420
Consolidated income before income taxes$89,890 
Capital expenditures$29,821 $554 $30,375 
Depreciation and amortization$72,916 $9,131 $82,047 
Six Months Ended June 30, 2024
($ in thousands)ManufacturingDistribution
Total
Total net sales$1,488,741 $503,739 $1,992,480 
Cost of goods sold1,153,823 395,550 1,549,373 
Gross profit$334,918 $108,189 $443,107 
Operating expenses138,716 54,311 193,027 
  Operating income$196,202 $53,878 $250,080 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative52,577 
Amortization of intangible assets47,088 
Interest expense, net40,433 
Elimination of inter-segment profits6,384 
Consolidated income before income taxes$103,598 
Capital expenditures$18,280 $5,730 $24,010 
Depreciation and amortization$71,090 $7,388 $78,478 
A reconciliation of certain line items pertaining to the total reportable segments to the condensed consolidated financial statements in the second quarter and first six months ended June 29, 2025 and June 30, 2024, and as of June 29, 2025 and December 31, 2024 is as follows:
Second Quarter Ended
Six Months Ended
($ in thousands)June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Net sales:  
Total sales for reportable segments$1,054,008 $1,039,468 $2,062,581 $1,992,480 
Elimination of inter-segment sales (1)
(6,454)(22,844)(11,607)(42,364)
Consolidated net sales$1,047,554 $1,016,624 $2,050,974 $1,950,116 
Depreciation and amortization:
Depreciation and amortization for reportable segments$40,972 $39,740 $82,047 $78,478 
Corporate depreciation and amortization1,637 1,741 3,208 3,338 
Consolidated depreciation and amortization$42,609 $41,481 $85,255 $81,816 
Capital expenditures:
Capital expenditures for reportable segments$12,264 $9,930 $30,375 $24,010 
Corporate capital expenditures6,011 6,986 8,071 8,401 
Consolidated capital expenditures$18,275 $16,916 $38,446 $32,411 
(1) Eliminations for the second quarter and six months ended June 29, 2025 include only the elimination of inter-segment transactions.
As of
($ in thousands)June 29, 2025December 31, 2024
Total assets:
Manufacturing segment assets$2,478,132 $2,402,533 
Distribution segment assets523,835 524,827 
Corporate assets unallocated to segments55,271 60,033 
Cash and cash equivalents21,974 33,561 
Consolidated total assets$3,079,212 $3,020,954 
The Company's revenue from external customers and long-lived assets are substantially all attributed to the U.S.