XML 33 R20.htm IDEA: XBRL DOCUMENT v3.24.2
Reportable Segment and Geographical Information
 6 Months Ended
Jun. 29, 2024
Segment Reporting [Abstract]  
Reportable Segment and Geographical Information Reportable Segment and Geographical Information
Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) for purposes of allocating resources and evaluating financial performance. Our CODM, the Chief Executive Officer, reviews financial information presented on a consolidated basis, accompanied by information about our five operating segments, for the purposes of allocating resources and evaluating financial performance. The Company is organized into three reportable segments: Aperture Solutions, Surface Solutions and Shelter Solutions, which operate principally in the U.S. with limited operations in Canada.
•The Aperture Solutions reportable segment offers a broad line of windows and doors at multiple price-points for residential new construction and repair and remodel end markets in the U.S. and Canada. Its main products include vinyl, aluminum, wood-composite and aluminum clad-wood windows and patio doors, as well as steel, wood-composite and fiberglass entry doors.
•The Surface Solutions reportable segment offers a broad suite of surface solutions products and accessories at multiple price-points for the residential new construction and repair and remodel end markets as well as stone installation services. Its main products include vinyl siding and accessories, cellular polyvinyl chloride trim, vinyl fencing and railing, stone veneer and gutter protection products.
•The Shelter Solutions reportable segment designs, engineers, manufactures and distributes extensive lines of metal products, including metal roofing, for the low-rise commercial construction market under multiple brand names and through a nationwide network of manufacturing plants and distribution centers. The Company defines low-rise commercial construction as building applications of up to five stories.
Management monitors the operational results of its reportable segments separately for purposes of making decisions about resources and evaluating performance. Management evaluates performance on the basis of segment earnings before interest, income taxes, depreciation and amortization (“Adjusted reportable segment EBITDA”).
Corporate operating expenses are not allocated to reportable segments. Corporate and Other consists specifically of corporate operating expenses that are generally not allocated to reportable segments, related-party management fees and other items that are not assigned or allocated to reportable segments. Any intercompany revenues or expenses are eliminated in consolidation.
The following table sets forth net sales, Adjusted reportable segment EBITDA and a reconciliation to income before income taxes:

Three Months EndedSix Months Ended
 June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Net sales: 
Aperture Solutions$673,010 $647,675 $1,202,850 $1,252,244 
Surface Solutions336,056 335,522 610,392 604,113 
Shelter Solutions355,236 445,021 696,747 850,949 
Total net sales$1,364,302 $1,428,218 $2,509,989 $2,707,306 
Adjusted reportable segment EBITDA:
Aperture Solutions$99,624 $103,293 $144,504 $168,086 
Surface Solutions74,440 61,499 117,675 87,806 
Shelter Solutions54,721 105,970 110,798 189,384 
Total adjusted reportable segment EBITDA228,785 270,762 372,977 445,276 
Corporate and Other(60,145)(54,769)(117,309)(102,561)
Depreciation and amortization(98,538)(165,162)(192,855)(237,824)
Interest expense(106,747)(92,314)(201,567)(186,425)
Foreign exchange (loss) gain(2,773)4,430 (6,786)6,447 
Loss on extinguishment of debt— 379 — (184)
Other income, net673 3,632 3,556 4,805 
Loss before income taxes$(38,745)$(33,042)$(141,984)$(70,466)
The following table sets forth net sales disaggregated by reportable segment:
Three Months EndedSix Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Aperture Solutions:
Vinyl windows$646,349 $622,062 $1,154,787 $1,189,255 
Aluminum windows and other26,661 25,613 48,063 62,989 
Total$673,010 $647,675 $1,202,850 $1,252,244 
Surface Solutions:
Vinyl siding$166,159 $162,841 $300,623 $295,026 
Metal siding91,919 86,066 167,936 146,503 
Injection molded siding15,331 15,556 27,027 28,042 
Stone18,514 19,450 32,636 37,469 
Stone veneer installation and other44,133 51,609 82,170 97,073 
Total$336,056 $335,522 $610,392 $604,113 
Shelter Solutions:
Metal building products$355,236 $445,021 $696,747 $850,949 
Total$355,236 $445,021 $696,747 $850,949 
Total net sales$1,364,302 $1,428,218 $2,509,989 $2,707,306 
The following table sets forth total assets disaggregated by reportable segment:
June 29, 2024December 31, 2023
Total assets:
Aperture Solutions$3,632,297 $2,934,102 
Surface Solutions2,278,285 2,268,443 
Shelter Solutions1,177,310 1,111,679 
Corporate282,779 619,117 
Total assets$7,370,671 $6,933,341