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UFP Industries(UFPI) - 2020 Q4 - Annual Report
UFPIUFP Industries(UFPI)2021-03-03 22:23
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Financial Performance - The company reported annual purchases of lumber totaling approximately 2.0billion,withsouthernyellowpineaccountingfor622.0 billion, with southern yellow pine accounting for 62% of total purchases[30]. - One major customer, The Home Depot, accounted for approximately 24% of total net sales in fiscal 2020[20]. Backlog Orders - As of December 26, 2020, the estimated backlog orders for customized interior fixture businesses were approximately 65.2 million, down from 75.0millioninthepreviousyear[33].−Theestimatedbacklogordersassociatedwithconstructionbusinesseswereapproximately75.0 million in the previous year[33]. - The estimated backlog orders associated with construction businesses were approximately 106.0 million as of December 26, 2020, compared to 110.1millionintheprioryear[34].−Thecompanyexpectstofillthemajorityofitsbacklogorderswithinthenextfiscalyear,althoughsomeordersmaybecanceled[33][34].EmployeeInformation−Thecompanyhadapproximately12,000employeesasofDecember26,2020,emphasizingtheimportanceofemployeeskillandmotivationinitssuccess[35].OrganizationalStructure−Thecompanyoperateswithamarket−centeredreportingstructure,reorganizingitssegmentsintoRetail,Industrial,andConstructiontoenhanceefficiencyandproductintroduction[18].DebtandInterestRates−Theestimatedfairvalueofthecompany′slong−termdebtwas110.1 million in the prior year[34]. - The company expects to fill the majority of its backlog orders within the next fiscal year, although some orders may be canceled[33][34]. Employee Information - The company had approximately 12,000 employees as of December 26, 2020, emphasizing the importance of employee skill and motivation in its success[35]. Organizational Structure - The company operates with a market-centered reporting structure, reorganizing its segments into Retail, Industrial, and Construction to enhance efficiency and product introduction[18]. Debt and Interest Rates - The estimated fair value of the company's long-term debt was 341.4 million as of December 26, 2020[79]. - The average interest rate for fixed-rate debt was reported at 3.89% for 2022, while the average for variable-rate debt was 0.79%[80]. Intellectual Property - The company has several patents and trademarks related to its business, indicating a focus on intellectual property development[31].