Business Segment Data

12 Months Ended

Feb. 25, 2023

Segment Reporting [Abstract]

Business Segment Data

Business Segment Data

We have four reporting segments:

•The Architectural Framing Systems segment designs, engineers, fabricates and finishes the aluminum window, curtainwall, storefront and entrance systems for the exterior of buildings.

•The Architectural Services segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install building glass and curtainwall systems.

•The Architectural Glass segment coats and fabricates high-performance glass used in custom window and wall systems on commercial buildings.

•The Large-Scale Optical (LSO) segment manufactures high-performance glazing products for the custom framing, fine art, and engineered optics markets.

At the beginning of the first quarter of fiscal 2023, we began management of the Sotawall and Harmon businesses under the Architectural Services segment in order to create a single, unified offering for larger custom curtainwall projects. The segment results for fiscal 2022 and 2021 were recast for comparability.

(In thousands)	2023		2022		2021
Net Sales
Architectural Framing Systems	$	649,778	$	546,557	$	508,770
Architectural Services	410,627		407,421		358,685
Architectural Glass	316,554		309,241		330,256
Large-Scale Optical	104,215		101,673		70,050
Intersegment elimination	(40,478)		(50,915)		(36,987)
Total	$	1,440,696	$	1,313,977	$	1,230,774

(In thousands)	2023		2022		2021
Operating Income (Loss)
Architectural Framing Systems	$	81,875	$	38,088	$	(29,030)
Architectural Services	18,140		(22,071)		15,451
Architectural Glass	28,610		1,785		18,678
Large-Scale Optical	25,348		23,618		31,203
Corporate and other	(28,185)		(19,375)		(10,775)
Total	$	125,788	$	22,045	$	25,527
Depreciation and Amortization
Architectural Framing Systems	$	19,386	$	20,361	$	21,532
Architectural Services	3,953		7,495		7,196
Architectural Glass	11,964		14,564		15,102
Large-Scale Optical	3,088		3,185		3,338
Corporate and other	4,012		4,388		4,272
Total	$	42,403	$	49,993	$	51,440
Capital Expenditures
Architectural Framing Systems	$	11,432	$	7,344	$	9,871
Architectural Services	3,683		3,449		1,516
Architectural Glass	5,613		5,865		9,574
Large-Scale Optical	13,474		2,250		869
Corporate and other	10,975		2,933		4,335
Total	$	45,177	$	21,841	$	26,165
Identifiable Assets
Architectural Framing Systems	$	426,946	$	414,012	$	396,664
Architectural Services	141,840		114,120		194,409
Architectural Glass	207,730		225,362		271,520
Large-Scale Optical	69,035		56,926		64,474
Corporate and other	69,814		77,443		88,032
Total	$	915,365	$	887,863	$	1,015,099

Due to the varying combinations and integration of individual window, storefront and curtainwall systems, it is impractical to report product revenues generated by class of product beyond the segment revenues currently reported.

Segment operating income is equal to net sales less cost of sales and operating expenses. Operating income does not include interest expense or a provision for income taxes. Architectural Services segment results include $49.5 million and $17.1 million of impairment charges in fiscal 2022 and fiscal 2021, respectively. Architectural Framing Systems segment results include $53.0 million of impairment charges in fiscal 2021 and $1.7 million of restructuring charges in fiscal 2022, with no impairment or restructuring charges included in fiscal 2023. Architectural Glass segment results include $0.1 million and $27.1 million of restructuring charges in fiscal 2023 and fiscal 2022, respectively. Corporate and other includes miscellaneous corporate activity, including certain legal, consulting and advisory costs and certain employee benefit costs not allocable to our segments, as well as $1.7 million of restructuring charges in fiscal 2022. Identifiable assets for Corporate and other include all short- and long-term available-for-sale securities.

The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region.

(In thousands)	2023		2022		2021
Net Sales
United States	$	1,301,168	$	1,194,141	$	1,115,872
Canada	120,565		102,027		102,721
Brazil	18,963		17,809		12,181
Total	$	1,440,696	$	1,313,977	$	1,230,774

(In thousands)	2023		2022		2021
Long-Lived Assets
United States	$	239,847	$	239,264	$	285,007
Canada	6,330		7,742		9,707
Brazil	2,690		2,989		3,729
Total	$	248,867	$	249,995	$	298,443

Apogee's export net sales from U.S. operations were $56.2 million, $59.5 million, and $33.1 million in fiscal 2023, 2022, and 2021, respectively, representing approximately 4 percent of consolidated net sales in each of these fiscal years.