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BUSINESS SEGMENTS
6 Months Ended
Jun. 25, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS & RELATED REVENUE INFORMATION
    During the first quarter of 2022, the Company's CODM changed the Company's management structure and began to manage the business, allocate resources and evaluate performance based on the new structure. As a result, the Company has realigned to a two reportable segment structure organized by market dynamics (Infrastructure and Agriculture). Three operating segments resulted from the new management structure and two are aggregated into the Agriculture reportable segment. The Company considers gross profit margins, nature of products sold, nature of the production processes, type and class of customer, and methods used to distribute products when assessing aggregation of operating segments. The Infrastructure segment includes the previous reportable segments of Utility Structures, Engineered Support Structures, and Coatings. All prior period segment information has been recast to reflect this change in reportable segments.

Both reportable segments are global in nature with a manager responsible for segment operational performance and the allocation of capital within the segment. Net corporate expense is net of certain service-related expenses that are allocated to business units generally on the basis of employee headcounts.

Reportable segments are as follows:

    INFRASTRUCTURE: This segment consists of the manufacture and distribution of products and solutions to serve the infrastructure markets of utility, renewable energy, lighting, transportation, and telecommunications, and coatings services to preserve and protect metal products.
    AGRICULTURE: This segment consists of the manufacture of center pivot and linear irrigation equipment for agricultural markets, including parts and tubular products, and advanced technology solutions for precision agriculture.
    The Company evaluates the performance of its reportable segments based upon operating income and invested capital. The Company does not allocate interest expense, non-operating income (expense), or income taxes to its reportable segments.
Summary by Business
Thirteen weeks endedTwenty-six weeks ended
June 25,
2022
June 26,
2021
June 25,
2022
June 26,
2021
SALES:
Infrastructure$764,950 $617,604 $1,445,676 $1,167,250 
Agriculture377,765 281,965 684,345 511,629 
Total1,142,715 899,569 2,130,021 1,678,879 
INTERSEGMENT SALES:
Infrastructure(4,200)(2,796)(7,301)(5,997)
Agriculture(2,983)(2,144)(6,368)(3,367)
Total(7,183)(4,940)(13,669)(9,364)
NET SALES:
Infrastructure760,750 614,808 1,438,375 1,161,253 
Agriculture374,782 279,821 677,977 508,262 
Total$1,135,532 $894,629 $2,116,352 $1,669,515 
OPERATING INCOME:
Infrastructure$84,643 $61,550 $162,150 $115,999 
Agriculture58,046 41,984 95,521 80,732 
Corporate(23,970)(20,909)(44,110)(36,895)
Total$118,719 $82,625 $213,561 $159,836 

Thirteen weeks ended June 25, 2022
InfrastructureAgricultureIntersegment SalesConsolidated
Geographical market:
North America$559,864 $203,488 $(6,716)$756,636 
International205,086 174,277 (467)378,896 
Total$764,950 $377,765 $(7,183)$1,135,532 
Product line:
Transmission, Distribution and Substation $295,835 $— $— $295,835 
Lighting and Transportation 246,652 — — 246,652 
Coatings90,321 — (4,200)86,121 
Telecommunications78,539 — — 78,539 
Renewable Energy53,603 — — 53,603 
Irrigation Equipment and Parts, excluding Technology— 347,585 (2,983)344,602 
Technology Products and Services— 30,180 — 30,180 
Total$764,950 $377,765 $(7,183)$1,135,532 
Twenty-six weeks ended June 25, 2022
InfrastructureAgricultureIntersegment SalesConsolidated
Geographical market:
North America$1,065,844 $385,743 $(13,202)$1,438,385 
International379,832 298,602 (467)677,967 
Total$1,445,676 $684,345 $(13,669)$2,116,352 
Product line:
Transmission, Distribution and Substation $577,435 $— $— $577,435 
Lighting and Transportation 459,419 — — 459,419 
Coatings172,297 — (7,301)164,996 
Telecommunications139,935 — — 139,935 
Renewable Energy96,590 — — 96,590 
Irrigation Equipment and Parts, excluding Technology— 625,619 (6,368)619,251 
Technology Products and Services— 58,726 — 58,726 
Total$1,445,676 $684,345 $(13,669)$2,116,352 

Thirteen weeks ended June 26, 2021
InfrastructureAgricultureIntersegment SalesConsolidated
Geographical market:
North America$421,168 $156,037 $(4,940)$572,265 
International196,436 125,928 — 322,364 
Total$617,604 $281,965 $(4,940)$894,629 
Product line:
Transmission, Distribution and Substation $220,458 $— $— $220,458 
Lighting and Transportation 215,247 — — 215,247 
Coatings80,346 — (2,796)77,550 
Telecommunications54,102 — — 54,102 
Renewable Energy47,451 — — 47,451 
Irrigation Equipment and Parts, excluding Technology— 253,450 (2,144)251,306 
Technology Products and Services— 28,515 — 28,515 
Total$617,604 $281,965 $(4,940)$894,629 
Twenty-six weeks ended June 26, 2021
InfrastructureAgricultureIntersegment SalesConsolidated
Geographical market:
North America$806,902 $278,788 $(9,364)$1,076,326 
International360,348 232,841 — 593,189 
Total$1,167,250 $511,629 $(9,364)$1,669,515 
Product line:
Transmission, Distribution and Substation $428,902 $— $— $428,902 
Lighting and Transportation 391,763 — — 391,763 
Coatings155,139 — (5,997)149,142 
Telecommunications99,742 — — 99,742 
Renewable Energy91,704 — — 91,704 
Irrigation Equipment and Parts, excluding Technology— 460,708 (3,367)457,341 
Technology Products and Services— 50,921 — 50,921 
Total$1,167,250 $511,629 $(9,364)$1,669,515 
A breakdown by segment of revenue recognized over time and at a point in time for the thirteen and twenty-six weeks ended June 25, 2022 and June 26, 2021 is as follows:
Point in TimeOver TimeTotal
Thirteen weeks ended June 25, 2022Thirteen weeks ended June 25, 2022Thirteen weeks ended June 25, 2022
Infrastructure$429,291 $331,459 $760,750 
Agriculture368,175 6,607 374,782 
  Total$797,466 $338,066 $1,135,532 
Point in TimeOver TimeTotal
Twenty-six weeks ended June 25, 2022Twenty-six weeks ended June 25, 2022Twenty-six weeks ended June 25, 2022
Infrastructure$798,481 $639,894 $1,438,375 
Agriculture665,781 12,196 677,977 
  Total$1,464,262 $652,090 $2,116,352 
Point in TimeOver TimeTotal
Thirteen weeks ended June 26, 2021Thirteen weeks ended June 26, 2021Thirteen weeks ended June 26, 2021
Infrastructure$346,733 $268,075 $614,808 
Agriculture274,903 4,918 279,821 
  Total$621,636 $272,993 $894,629 
Point in TimeOver TimeTotal
Twenty-six weeks ended June 26, 2021Twenty-six weeks ended June 26, 2021Twenty-six weeks ended June 26, 2021
Infrastructure$638,464 $522,789 $1,161,253 
Agriculture499,540 8,722 508,262 
  Total$1,138,004 $531,511 $1,669,515