Segment Information (Tables)

6 Months Ended

Jun. 28, 2025

Segment Reporting [Abstract]

Schedule of Disaggregation of Revenue From Contracts with Customers

The following tables represent a disaggregation of revenue from contracts with customers, along with the reportable segment for each category:

	For the Quarter Ended June 28, 2025
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	615,352	$	—	$	—	$	615,352
Brass rod, forgings, wire and cable	—		233,756		—		233,756
OEM components, tube and assemblies	—		20,723		37,381		58,104
Valves and plumbing specialties	128,123		—		—		128,123
Flex duct and other HVAC components	—		—		100,134		100,134
Other	—		16,119		—		16,119
	743,475		270,598		137,515		1,151,588
Intersegment sales							(13,415)
Net sales							$	1,138,173

	For the Quarter Ended June 29, 2024
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	568,849	$	—	$	—	$	568,849
Brass rod, forgings, wire and cable	—		162,296		—		162,296
OEM components, tube and assemblies	—		20,418		30,569		50,987
Valves and plumbing specialties	119,620		—		—		119,620
Flex duct and other HVAC components	—		—		99,963		99,963
Other	—		12,627		—		12,627
	688,469		195,341		130,532		1,014,342
Intersegment sales							(16,597)
Net sales							$	997,745

Disaggregation of revenue from contracts with customers (continued):

	For the Six Months Ended June 28, 2025
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Tube and fittings	$	1,141,148	$	—	$	—	$	1,141,148
Brass rod, forgings, wire and cable	—		453,037		—		453,037
OEM components, tube & assemblies	—		38,938		68,641		107,579
Valves and plumbing specialties	242,010		—		—		242,010
Flex duct and other HVAC components	—		—		191,981		191,981
Other	—		30,536		—		30,536
	1,383,158		522,511		260,622		2,166,291
Intersegment sales							(27,953)
Net sales							$	2,138,338

	For the Six Months Ended June 29, 2024
(In thousands)	Piping Systems	Industrial Metals	Climate	Total
Tube and fittings	1,047,325	—	—	1,047,325
Brass rod, forgings, wire and cable	—	286,355	—	286,355
OEM components, tube & assemblies	—	39,375	60,586	99,961
Valves and plumbing specialties	231,312	—	—	231,312
Flex duct and other HVAC components	—	—	186,756	186,756
Other	—	25,678	—	25,678
	1,278,637	351,408	247,342	1,877,387
Intersegment sales				(29,988)
Net sales				$	1,847,399

Schedule of Segment Information

Summarized segment information is as follows:

	For the Quarter Ended June 28, 2025
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
External net sales	$	735,194	$	265,808	$	137,171	$	1,138,173
Internal net sales	8,281		4,790		344		13,415
	743,475		270,598		137,515		1,151,588
Reconciliation of net sales:
Elimination of intersegment net sales							(13,415)
Total net sales							1,138,173
Less: (1)
Manufacturing costs (2)	495,170		230,058		85,967		811,195
Sales and marketing expense	8,053		1,336		3,661		13,050
Distribution expense	11,370		742		550		12,662
Other segment items (3)	(21,414)		7,852		4,709		(8,853)
Segment operating income	250,296		30,610		42,628		323,534
Reconciliation of segment operating income:
Corporate expenses							(19,366)
Interest expense							(17)
Interest income							8,222
Unrealized gains on short-term investments							13,212
Other expense, net							(1,142)
Income before income taxes							$	324,443
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown.
(2) Manufacturing costs include material, manufacturing conversion costs, and freight.
(3) Other segment items include administrative employee compensation expense, professional fees, foreign currency exchange gains/losses, other overhead costs, and other items such as gains/losses on sale of assets, impairment charges, and gains on insurance proceeds (as applicable).

Segment information (continued):

	For the Quarter Ended June 29, 2024
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
External net sales	$	676,684	$	190,872	$	130,189	$	997,745
Internal net sales	11,785		4,469		343		16,597
	688,469		195,341		130,532		1,014,342
Reconciliation of net sales:
Elimination of intersegment net sales							(16,597)
Total net sales							997,745
Less: (1)
Manufacturing costs (2)	504,774		161,488		83,725		749,987
Sales and marketing expense	6,620		801		3,729		11,150
Distribution expense	9,746		572		501		10,819
Other segment items (3)	5,071		2,787		3,584		11,442
Segment operating income	162,258		29,693		38,993		230,944
Reconciliation of segment operating income:
Corporate expenses							(20,938)
Interest expense							(107)
Interest income							14,383
Other expense, net							(1,356)
Income before income taxes							$	222,926

Segment information (continued):

	For the Six Months Ended June 28, 2025
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
External net sales	$	1,364,553	$	513,598	$	260,187	$	2,138,338
Internal net sales	18,605		8,913		435		27,953
	1,383,158		522,511		260,622		2,166,291
Reconciliation of net sales:
Elimination of intersegment net sales							(27,953)
Total net sales							2,138,338
Less:
Manufacturing costs	957,635		441,799		165,963		1,565,397
Sales and marketing expense	16,307		2,560		6,970		25,837
Distribution expense	22,524		1,446		1,022		24,992
Other segment items	(21,768)		16,012		8,415		2,659
Segment operating income	408,460		60,694		78,252		547,406
Reconciliation of segment operating income:
Corporate expenses							(36,976)
Interest expense							(42)
Interest income							18,123
Unrealized gains on short-term investments							8,202
Other expense, net							(1,050)
Income before income taxes							$	535,663

Segment information (continued):

	For the Six Months Ended June 29, 2024
(In thousands)	Piping Systems		Industrial Metals		Climate		Total
External net sales	$	1,256,549	$	344,023	$	246,827	$	1,847,399
Internal net sales	22,088		7,385		515		29,988
	1,278,637		351,408		247,342		1,877,387
Reconciliation of net sales:
Elimination of intersegment net sales							(29,988)
Total net sales							1,847,399
Less:
Manufacturing costs	929,300		289,857		160,700		1,379,857
Sales and marketing expense	12,926		1,521		7,082		21,529
Distribution expense	18,996		1,155		974		21,125
Other segment items	12,477		4,911		7,018		24,406
Segment operating income	304,938		53,964		71,568		430,470
Reconciliation of segment operating income:
Corporate expenses							(37,039)
Interest expense							(222)
Interest income							31,628
Realized gains on short-term investments							365
Other expense, net							(726)
Income before income taxes							$	424,476

Other segment disclosures:

	For the Quarter Ended June 28, 2025
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Unallocated		Total
Depreciation and amortization (4)	$	6,071	$	8,446	$	1,726	$	1,662	$	17,905
(Gain) loss on disposal on sale of assets, net	(1,347)		(3)		1,013		—		(337)
Gain on insurance proceeds	(36,278)		—		—		—		(36,278)
Expenditures for long-lived assets (including those resulting from business acquisitions)	4,629		8,446		1,024		—		14,099
Segment assets	1,301,336		864,235		270,291		1,051,580		3,487,442
(4) The amount of depreciation and amortization disclosed by reportable segment is included within the other segment expense captions, such as manufacturing costs or other segment items.

Other segment disclosures (continued):

	For the Quarter Ended June 29, 2024
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Unallocated		Total
Depreciation and amortization (4)	$	4,932	$	2,368	$	1,646	$	1,072	$	10,018
Expenditures for long-lived assets (including those resulting from business acquisitions)	3,853		102,828		1,349		(14)		108,016
Segment assets	1,112,550		821,011		275,872		856,752		3,066,185

	For the Six Months Ended June 28, 2025
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Unallocated		Total
Depreciation and amortization	$	11,490	$	16,802	$	3,418	$	3,318	$	35,028
(Gain) loss on disposal of assets, net	(15,809)		(3)		1,010		—		$	(14,802)
Gain on insurance proceeds	(36,278)		—		—		—		(36,278)
Expenditures for long-lived assets (including those resulting from business acquisitions)	12,023		16,231		2,437		—		30,691

	For the Six Months Ended June 29, 2024
(In thousands)	Piping Systems		Industrial Metals		Climate		Corporate and Unallocated		Total
Depreciation and amortization	$	9,492	$	4,288	$	3,241	$	2,166	$	19,187
Expenditures for long-lived assets (including those resulting from business acquisitions)	10,582		103,889		4,764		5,187		124,422