Segment Information

12 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has two operating segments, which are also its reportable segments. The Company’s operating segments are organized based upon primary market channels and, in most instances, the end use of products.

Through its Electrical Raceway segment, the Company manufactures products that deploy, isolate and protect a structure’s electrical circuitry from the original power source to the final outlet. These products, which include electrical conduit, armored cable, cable trays, mounting systems and fittings, are critical components of the electrical infrastructure for new construction and maintenance, repair and remodel ("MR&R") markets. The vast majority of the Company’s Electrical Raceway net sales are made to electrical distributors, who then serve electrical contractors and the Company considers both to be customers.

Through the MP&S segment, the Company provides products and services that frame, support and secure component parts in a broad range of structures, equipment and systems in electrical, industrial and construction applications. The Company’s principal products in this segment are metal framing products and in-line galvanized mechanical tube. Through its metal framing business, the Company designs, manufactures and installs metal strut and fittings used to assemble mounting structures that support heavy equipment and electrical content in buildings and other structures.

Both segments use Adjusted EBITDA as the primary measure of profit and loss. Segment Adjusted EBITDA is the sum of income (loss) from operations before income taxes, adjusted to exclude unallocated expenses, depreciation and amortization, gain on extinguishment of debt, interest expense, net, restructuring and impairments, net periodic pension benefit cost, stock-based compensation, legal settlements, ABF product liability impact, consulting fees, transaction costs and other items, such as lower of cost or market inventory adjustments, release of indemnified uncertain tax positions and the impact of foreign exchange gains or losses related to our divestiture in Brazil and the impact from the Fence and Sprinkler exit.

Intersegment transactions primarily consist of product sales at designated transfer prices on an arms-length basis. Gross profit earned and reported within the segment is eliminated in the Company’s consolidated results. Certain manufacturing and distribution expenses are allocated between the segments due to the shared nature of activities. Recorded amounts represent a proportional amount of the quantity of product produced for each segment.

	Fiscal year ended
	September 30, 2016							September 25, 2015							September 26, 2014
(in thousands)	External Net Sales		Inter- segment Sales			Adjusted EBITDA		External Net Sales		Inter- segment Sales			Adjusted EBITDA		External Net Sales		Inter- segment Sales			Adjusted EBITDA
Electrical Raceway	$	986,407	$	1,718		$	174,588	$	1,004,683	$	896		$	106,717	$	967,105	$	661		$	86,273
Mechanical Products & Solutions	536,977		155			$	88,551	724,485		277			$	79,553	735,733		317			$	59,941
Eliminations	—		(1,873		)			—		(1,173		)			—		(978		)
Consolidated operations	$	1,523,384	$	—				$	1,729,168	$	—				$	1,702,838	$	—

	Capital Expenditures						Total Assets
(in thousands)	September 30, 2016		September 25, 2015		September 26, 2014		September 30, 2016		September 25, 2015		September 26, 2014
Electrical Raceway	$	8,298	$	12,210	$	10,873	$	533,732	$	590,999	$	591,098
Mechanical Products & Solutions	6,993		10,918		9,474		375,510		439,037		507,967
Unallocated	1,539		3,721		4,015		255,326		83,763		86,354
Consolidated operations	$	16,830	$	26,849	$	24,362	$	1,164,568	$	1,113,799	$	1,185,419

Presented below is a reconciliation of operating segment Adjusted EBITDA to Income (loss) before income taxes:

	Fiscal Year Ended
(in thousands)	September 30, 2016			September 25, 2015			September 26, 2014
Operating segment Adjusted EBITDA
Electrical Raceway	$	174,588		$	106,717		$	86,273
Mechanical Products & Solutions	88,551			79,553			59,941
Total	$	263,139		$	186,270		$	146,214
Unallocated expenses (a)	(28,137		)	(22,320		)	(19,617		)
Depreciation and amortization	(55,017		)	(59,465		)	(58,695		)
Interest expense, net	(41,798		)	(44,809		)	(44,266		)
Gain (loss) on extinguishment of debt	1,661			—			(43,667		)
Restructuring & impairments	(4,096		)	(32,703		)	(46,687		)
Net periodic pension benefit cost	(441		)	(578		)	(1,368		)
Stock-based compensation	(21,127		)	(13,523		)	(8,398		)
ABF product liability impact	(850		)	216			(2,841		)
Legal settlements	(1,382		)	—			—
Consulting fees	(15,425		)	(3,500		)	(4,854		)
Transaction costs	(7,832		)	(6,039		)	(5,049		)
Other	(1,103		)	(14,305		)	(12,656		)
Impact of Fence and Sprinkler exit	(811		)	2,885			(5,003		)
Income (loss) before income taxes	$	86,781		$	(7,871	)	$	(106,887	)
(a) Represents unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, human resources, information technology, business development and communications, as well as certain costs and earnings of employee-related benefits plans, such as stock-based compensation and a portion of self-insured medical costs.

The Company's long-lived assets and net sales by geography were as follows:

	Long-lived assets						Net sales
(in thousands)	September 30, 2016		September 25, 2015		September 26, 2014		September 30, 2016		September 25, 2015		September 26, 2014
United States	$	204,640	$	232,566	$	263,750	$	1,395,750	$	1,604,788	$	1,570,788
Other Americas	175		132		194		40,573		42,136		43,323
Europe	1,295		1,036		1,417		40,246		38,621		38,422
Asia-Pacific	3,826		4,482		5,269		46,815		43,623		50,305
Total	$	209,936	$	238,216	$	270,630	$	1,523,384	$	1,729,168	$	1,702,838

The table below shows the amount of net sales from external customers for each of our product categories which accounted for 10 percent or more of our consolidated net sales in any of the last three fiscal years:

	Fiscal Year Ended
(in thousands)	September 30, 2016		September 25, 2015		September 26, 2014
Metal Electrical Conduit and Fittings	$	331,187	$	320,367	$	300,594
Armored Cable and Fittings	318,279		332,153		341,912
PVC Electrical Conduit & Fittings	258,954		269,808		238,042
Mechanical Pipe	249,811		286,799		282,789
Metal Framing & Fittings	181,954		174,976		176,047
Other	175,383		166,472		170,766
Impact of Fence and Sprinkler	7,816		178,593		192,688
Net sales	$	1,523,384	$	1,729,168	$	1,702,838