v3.25.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
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 $78,478 
Schedule of the Reconciliation of Segment Operations
A reconciliation of certain line items pertaining to the total reportable segments to the condensed consolidated financial statements in the second quarter and first six months ended June 29, 2025 and June 30, 2024, and as of June 29, 2025 and December 31, 2024 is as follows:
Second Quarter Ended
Six Months Ended
($ 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