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Segments (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Summary of Financial Data Attributable to Operating Segments

The following table represents summary financial data attributable to our operating segments for the years ended December 31, 2022, January 1, 2022, and January 2, 2021. Results of the Southeast segment for the year ended January 1, 2022 includes the results of Eco for its post-acquisition period from February 1, 2021. Results of the Southeast segment for the year ended January 2, 2021 includes the results of NewSouth for its post-acquisition period from February 1, 2020. Results of the Western segment for the year ended December 31, 2022 includes the results of Martin for its post-acquisition period from October 14, 2022, and for the year ended January 1, 2022, includes the results of Anlin for its post-acquisition period from October 25, 2021. Corporate overhead has been allocated to each segment using an allocation method we believe is reasonable (in thousands):

 

 

 

Year Ended

 

 

 

December 31,

 

 

January 1,

 

 

January 2,

 

 

 

2022

 

 

2022

 

 

2021

 

Net sales:

 

 

 

 

 

 

 

 

 

Southeast segment

 

$

1,110,355

 

 

$

968,693

 

 

$

752,432

 

Western segment

 

 

381,599

 

 

 

192,771

 

 

 

130,189

 

 

 

 

 

 

 

 

 

 

 

Total net sales

 

$

1,491,954

 

 

$

1,161,464

 

 

$

882,621

 

 

 

 

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

 

 

 

 

Southeast segment

 

$

112,593

 

 

$

74,815

 

 

$

85,794

 

Western segment

 

 

55,190

 

 

 

25,641

 

 

 

11,144

 

Impairment of trade name

 

 

(7,423

)

 

 

 

 

 

(8,000

)

Restructuring costs and charges

 

 

 

 

 

 

 

 

(4,227

)

 

 

 

 

 

 

 

 

 

 

Total income from operations

 

 

160,360

 

 

 

100,456

 

 

 

84,711

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

28,879

 

 

 

30,029

 

 

 

27,719

 

Debt extinguishment costs

 

 

410

 

 

 

25,472

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Total income before income taxes

 

$

131,071

 

 

$

44,955

 

 

$

56,992