Segment Information

6 Months Ended

Jul. 01, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

Effective January 1, 2022, our high performance coatings and foam product offerings previously included within the Applied Fluid Technologies division of the Industrial segment were realigned and are now managed under the Contractor segment. This change aligns the types of products offered and markets served within the segments. Prior year segment information has been restated to conform to the current organizational structure.

The Company has three reportable segments: Industrial, Process and Contractor. Sales and operating earnings by segment were as follows (in thousands): 

	Three Months Ended				Six Months Ended
	July 1, 2022		June 25, 2021		July 1, 2022		June 25, 2021
Net Sales
Industrial	$	158,325	$	144,448	$	302,994	$	274,312
Process	124,483		97,232		239,507		188,605
Contractor	265,739		265,484		500,331		498,376
Total	$	548,547	$	507,164	$	1,042,832	$	961,293
Operating Earnings
Industrial	$	55,201	$	45,709	$	107,831	$	88,067
Process	31,057		21,676		58,545		43,409
Contractor	68,244		73,656		127,191		144,707
Unallocated corporate (expense)	(5,822)		(7,198)		(16,524)		(14,054)
Total	$	148,680	$	133,843	$	277,043	$	262,129

Assets by segment were as follows (in thousands): 

	July 1, 2022		December 31, 2021
Industrial	$	604,654	$	601,843
Process	517,098		436,203
Contractor	658,361		599,726
Unallocated corporate	624,165		805,426
Total	$	2,404,278	$	2,443,198

Geographic information follows (in thousands):

	Three Months Ended				Six Months Ended
	July 1, 2022		June 25, 2021		July 1, 2022		June 25, 2021
Net Sales (based on customer location)
United States	$	296,009	$	263,722	$	551,091	$	495,223
Other countries	252,538		243,442		491,741		466,070
Total	$	548,547	$	507,164	$	1,042,832	$	961,293

	July 1, 2022		December 31, 2021
Long-lived Assets
United States	$	456,238	$	388,835
Other countries	59,918		62,226
Total	$	516,156	$	451,061