Patrick Industries (PATK) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Document And Entity Information
Entity Registrant Name	PATRICK INDUSTRIES INC
Entity Central Index Key	0000076605
Trading Symbol	patk
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		23,849,644
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 8,454	$ 6,895
Trade receivables, net	137,318	82,499
Inventories	264,994	272,898
Prepaid expenses and other	17,757	22,875
Total current assets	428,523	385,167
Property, plant and equipment, net	180,331	177,145
Operating lease right-of-use assets	79,868	0
Goodwill	292,113	281,734
Intangible assets, net	370,233	382,982
Deferred financing costs, net	3,617	3,688
Other non-current assets	499	515
TOTAL ASSETS	1,355,184	1,231,231
Current Liabilities
Current maturities of long-term debt	10,000	8,750
Current operating lease liabilities	25,874	0
Accounts payable	124,640	89,803
Accrued liabilities	57,292	59,202
Total current liabilities	217,806	157,755
Long-term debt, less current maturities, net	613,599	621,751
Long-term operating lease liabilities	54,309
Deferred tax liabilities, net	23,624	22,699
Other long-term liabilities	16,757	20,272
TOTAL LIABILITIES	926,095	822,477
SHAREHOLDERS’ EQUITY
Common stock	161,949	161,436
Additional paid-in-capital	25,124	25,124
Accumulated other comprehensive loss	(3,707)	(2,680)
Retained earnings	245,723	224,874
TOTAL SHAREHOLDERS’ EQUITY	429,089	408,754
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,355,184	$ 1,231,231

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Income Statement [Abstract]
NET SALES	$ 608,218	$ 551,832
Cost of goods sold	501,670	454,078
GROSS PROFIT	106,548	97,754
Operating Expenses:
Warehouse and delivery	24,041	17,028
Selling, general and administrative	37,692	31,841
Amortization of intangible assets	8,989	7,127
Total operating expenses	70,722	55,996
OPERATING INCOME	35,826	41,758
Interest expense, net	8,983	4,378
Income before income taxes	26,843	37,380
Income taxes	5,994	7,312
NET INCOME	$ 20,849	$ 30,068
BASIC NET INCOME PER COMMON SHARE (in dollars per share)	$ 0.90	$ 1.22
DILUTED NET INCOME PER COMMON SHARE (in dollars per share)	$ 0.90	$ 1.20
Weighted average shares outstanding - Basic (in shares)	23,039	24,740
Weighted average shares outstanding - Diluted (in shares)	23,248	25,110

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Statement of Other Comprehensive Income [Abstract]
Net income	$ 20,849	$ 30,068
Other comprehensive (loss) income, net of tax:
Change in unrealized loss of hedge derivatives	(1,054)	0
Foreign currency translation gain	27	28
Total other comprehensive (loss) income	(1,027)	28
COMPREHENSIVE INCOME	$ 19,822	$ 30,096

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Balance at Dec. 31, 2017	$ 370,685	$ 163,196	$ 8,243	$ 66	$ 199,180
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,068				30,068
Other comprehensive income (loss), net of tax	28			28
Stock repurchases under buyback program	(13,470)	(1,424)	(72)		(11,974)
Shares used to pay taxes on stock grants	(2,843)	(2,843)
Stock-based compensation expense	3,696	3,696
Purchase of convertible notes hedges	(31,481)		(31,481)
Proceeds from sale of warrants	18,147		18,147
Equity component of convertible note issuance	30,948		30,948
Balance at Apr. 01, 2018	405,778	162,625	25,785	94	217,274
Balance at Dec. 31, 2018	408,754	161,436	25,124	(2,680)	224,874
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,849				20,849
Other comprehensive income (loss), net of tax	(1,027)			(1,027)
Shares used to pay taxes on stock grants	(3,437)	(3,437)
Stock-based compensation expense	3,947	3,947
Purchase of convertible notes hedges	0
Issuance of shares upon exercise of common stock options	3	3
Balance at Mar. 31, 2019	$ 429,089	$ 161,949	$ 25,124	$ (3,707)	$ 245,723

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Jan. 31, 2018	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$ 20,849	$ 30,068
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		15,543	11,325
Stock-based compensation expense		3,947	3,696
Amortization of convertible notes debt discount		1,671	1,246
Deferred income taxes		1,281	1,410
Other		(233)	(1,304)
Change in operating assets and liabilities, net of acquisitions of businesses:
Trade receivables		(54,188)	(48,443)
Inventories		1,224	(8,557)
Prepaid expenses and other assets		5,216	2,136
Accounts payable, accrued liabilities and other		32,574	34,231
Net cash provided by operating activities		27,884	25,808
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures		(10,005)	(7,641)
Proceeds from sale of property, equipment and other investing activities		1,372
Proceeds from sale of property, equipment and other investing activities			(6)
Business acquisitions, net of cash acquired		(1,222)	(95,861)
Net cash used in investing activities		(9,855)	(103,508)
CASH FLOWS FROM FINANCING ACTIVITIES
Term debt repayments		(1,250)	(3,941)
Borrowings on revolver		213,523	331,058
Repayments on revolver		(220,855)	(389,855)
Stock repurchases under buyback program		0	(13,470)
Proceeds from convertible notes offering		0	172,500
Purchase of convertible notes hedges		0	(31,481)
Proceeds from sale of warrants	$ 18,100	0	18,147
Payments related to vesting of stock-based awards, net of shares tendered for taxes		(3,222)	(2,586)
Payment of deferred financing costs		(253)	(5,367)
Payment of contingent consideration from a business acquisition		(4,416)	0
Other financing activities		3	(1)
Net cash (used in) provided by financing activities		(16,470)	75,004
Increase (decrease) in cash and cash equivalents		1,559	(2,696)
Cash and cash equivalents at beginning of year	$ 2,767	6,895	2,767	$ 2,767
Cash and cash equivalents at end of period		$ 8,454	$ 71	$ 6,895

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION In the opinion of Patrick Industries, Inc. (“Patrick”, the “Company”, "we", "our"), the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 31, 2019 and December 31, 2018 , and its results of operations and cash flows for the three months ended March 31, 2019 and April 1, 2018 . Patrick’s unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules or regulations. For a description of significant accounting policies used by the Company in the preparation of its consolidated financial statements, please refer to Note 2 of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . The December 31, 2018 condensed consolidated statement of financial position data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. Operating results for the first quarter ended March 31, 2019 are not necessarily indicative of the results to be expected for the year ending December 31, 2019 . In preparation of Patrick’s condensed consolidated financial statements as of and for the first quarter ended March 31, 2019

RECENTLY ISSUED ACCOUNTING PRON

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	2. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, " Leases (Topic 842) ", which requires that an entity recognize lease assets and lease liabilities on its statement of financial position for leases that were previously classified as operating leases under U.S. GAAP. The standard also requires companies to disclose in the footnotes to the financial statements information about the amount and timing of lease payments. The standard is effective for financial statements issued for annual and interim periods beginning after December 15, 2018 on a modified retrospective basis and early adoption was permitted. In July 2018, the FASB issued ASU 2018-11, " Leases (Topic 842): Targeted Improvements ", which offered practical expedient alternatives to the modified retrospective adoption of Accounting Standards Codification (“ASC”) 842. Specifically, the practical expedients allow companies to recognize right of use lease assets and lease liabilities at the date of adoption only, rather than retrospectively for all periods presented, as well as practical expedients related to the presentation of lease components. The Company adopted ASC 842 effective January 1, 2019, and recorded approximately $80 million in lease right-of-use assets and corresponding lease liabilities, with no material impact on the condensed consolidated statement of shareholders' equity, results of operations or cash flows. See Note 12 for further information. Goodwill Impairment In January 2017, the FASB issued ASU 2017-04, " Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ". This ASU simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. The standard requires that the impairment loss be measured as the excess of the reporting unit's carrying amount over its fair value. It eliminates the second step that requires the impairment to be measured between the implied value of a reporting unit's goodwill and its carrying value. The standard is effective for annual and any interim impairment tests for periods beginning after December 15, 2019 and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting standard and has not yet determined the impact that its implementation will have on its condensed consolidated financial statements. Credit Losses In June 2016, the FASB issued ASU 2016-13 “ Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	3. REVENUE RECOGNITION Effective January 1, 2018, the Company adopted FASB ASU 2014-09, " Revenue from Contracts with Customers" (commonly referred to as “Topic 606”), which requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive. The Company adopted Topic 606 using the modified retrospective method and applied it to those contracts which were not completed as of the adoption date. The adoption of the new revenue standard did not have a material impact on the Company’s condensed consolidated financial position, results of operations, or revenues as of the adoption date. Revenue Recognition Revenues are recognized when or as control of the promised goods or services transfers to the Company's customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The transaction price for contracts may include forms of variable consideration, including reductions to the transaction price for volume discounts and rebates. To the extent a contract is deemed to have multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation using the standalone selling price of each distinct good or service in the contract. Disaggregation of Revenue In the following table, revenue from contracts with customers, net of intersegment sales, is disaggregated by market type and by reportable operating segments: First Quarter Ended March 31, 2019 (thousands) Manufacturing Distribution Total Reportable Operating Segments Market type: Recreational Vehicle $ 234,878 $ 107,558 $ 342,436 Manufactured Housing 42,203 63,816 106,019 Industrial 60,928 8,049 68,977 Marine 87,675 3,111 90,786 Total $ 425,684 $ 182,534 $ 608,218 First Quarter Ended April 1, 2018 (thousands) Manufacturing Distribution Total Reportable Operating Segments Market type: Recreational Vehicle $ 293,225 $ 85,066 $ 378,291 Manufactured Housing 39,315 22,941 62,256 Industrial 58,677 7,018 65,695 Marine 44,696 894 45,590 Total $ 435,913 $ 115,919 $ 551,832 ` Description of Products and Services The Company is a major manufacturer of component products and a distributor of building products and materials serving original equipment manufacturers (“OEMs”). The following is a description of the principal activities, by reportable segments, from which the Company generates its revenue. See Note 15 for more detailed information about the Company's reportable operating segments. Manufacturing The Company’s Manufacturing segment revenue is primarily derived from the sale of laminated products that are utilized to produce furniture, shelving, walls, countertops, and cabinet products, cabinet doors, fiberglass bath fixtures and tile systems, hardwood furniture, vinyl printing, decorative vinyl and paper laminated panels, solid surface, granite, and quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components (including instrument and dash panels), wrapped vinyl, paper and hardwood profile mouldings, interior passage doors, air handling products, slide-out trim and fascia, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and components products, wiring and wire harnesses, boat covers, towers, tops and frames, aluminum fuel tanks, CNC molds and composite parts, slotwall panels and components and other products. Manufacturing segment revenue is recognized when control of the product transfers to the customer which is the point when the customer gains the ability to direct the use of and obtain substantially all of the remaining benefits from the asset, which is generally upon delivery of goods. In limited circumstances, where the products are customer specific with no alternative use to the Company and the Company has a legally enforceable right to payment for performance to date with a reasonable margin, revenue is recognized over the contract term based on the cost-to-cost method. The Company uses this measure of progress because it best depicts the transfer of value to the customer and correlates with the amount of consideration to which the entity expects to be entitled in exchange for transferring the promised goods to the customer. However, revenue recognized based on the cost-to-cost method does not constitute a material amount of total Manufacturing segment revenue and consolidated net sales. Distribution The Company’s Distribution segment revenue is primarily derived from the resale of pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, appliances, wiring, electrical and plumbing products, fiber reinforced polyester products, cement siding, raw and processed lumber, interior passage doors, roofing products, laminate and ceramic flooring, tile, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other miscellaneous products, in addition to providing transportation and logistics services. The Company acts as a principal in such arrangements because it controls the promised goods before delivery to the customer. Distribution segment revenue from product sales is recognized on a gross basis upon delivery of goods at which point control transfers to the customer. The Distribution segment also generates revenue by providing marketing services for other manufacturers in exchange for agreed upon commissions. The commission revenue is recognized in the amount of expected commissions to be collected from the manufacturer upon delivery of goods to the customer. The overall commission business is not material to the Company’s consolidated net sales. Significant Judgments and Practical Expedients Applied Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are not recognized as separate performance obligations to which a portion of revenue would otherwise be allocated. The Company records freight billed to customers in net sales. The corresponding costs incurred for shipping and handling related to these customer billed freight costs are recorded as costs to fulfill the contract and are included in warehouse and delivery expenses. The Company’s contracts across each of its businesses typically do not result in situations where there is a time period greater than one year between performance under the contract and collection of the related consideration. The Company elected the practical expedient under Topic 606 related to significant financing components, where the Company expects, at contract inception, that the period between the entity’s transfer of a promised good or service to a customer and the customer’s payment for that good or service will be one year or less. The Company also applies the practical expedient in Topic 606 related to costs to obtain a contract and recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the incurred costs that the Company otherwise would have capitalized is one year or less. These costs are included in selling, general and administrative expenses. Contract Balances The Company typically invoices the customer after shipment of the promised goods, at which time it has an unconditional right to payment. In limited circumstances, the Company may receive upfront payments from customers prior to satisfaction of a performance obligation in both the manufacturing and distribution businesses, in which case a contract liability is recorded. The following table provides information about contract balances: (thousands) March 31, 2019 December 31, 2018 Receivables, which are included in trade receivables, net $ 135,202 $ 74,196 Contract liabilities $ 2,847 $ 2,642 Significant changes in the contract liabilities balance during the three months ended March 31, 2019 are as follows: (thousands) Contract Liabilities Revenue recognized that was included in the contract liability balance at the beginning of the period $ (910 ) Increases due to cash received, excluding amounts recognized as revenue during the period $ 1,115 Transaction Price Allocated to the Remaining Performance Obligation The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	5. GOODWILL AND INTANGIBLE ASSETS The Company acquired goodwill and intangible assets in various acquisitions in 2018 that were determined to be business combinations. No new intangible assets were acquired through business combination in the first quarter of 2019, but purchase accounting adjustments to previously reported estimated amounts were made in such quarter. See Note 6 for further details. Goodwill and intangible assets are allocated to the Company’s reporting units on the date they are initially recorded. Goodwill and indefinite-lived intangible assets are not amortized but are subject to an impairment test based on their estimated fair value performed annually (or under certain circumstances more frequently as warranted). Goodwill impairment testing is performed at the reporting unit level, one level below the business segment . Finite-lived intangible assets that meet certain criteria continue to be amortized over their useful lives and are also subject to an impairment test based on estimated undiscounted cash flows when impairment indicators exist. The Company assesses finite-lived intangible assets for impairment if events or changes in circumstances indicate that the carrying value may exceed the fair value. No impairment was recognized during the three months ended March 31, 2019 and April 1, 2018 , related to goodwill, indefinite-lived intangible assets or finite-lived intangible assets. Goodwill Changes in the carrying amount of goodwill for the three months ended March 31, 2019 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2018 $ 235,345 $ 46,389 $ 281,734 Adjustments to prior year preliminary purchase price allocations 339 10,040 10,379 Balance - March 31, 2019 $ 235,684 $ 56,429 $ 292,113 Intangible Assets Intangible assets are comprised of customer relationships, non-compete agreements, trademarks and patents. Customer relationships and non-compete agreements represent finite-lived intangible assets that have been recorded in the Manufacturing and Distribution segments along with related amortization expense. As of March 31, 2019 , the remaining intangible assets balance of $370.2 million is comprised of $85.2 million of trademarks which have an indefinite life, and therefore, no amortization expense has been recorded for trademarks, and $285.0 million pertaining to customer relationships, non-compete agreements and patents which are being amortized over periods ranging from three to 19 years. Amortization expense for the Company’s intangible assets in the aggregate was $9.0 million and $7.1 million for the three months ended March 31, 2019 and April 1, 2018 , respectively. Intangible assets, net consist of the following as of March 31, 2019 and December 31, 2018 : (thousands) March 31, Weighted Average Useful Life December 31, Weighted Average Useful Life Customer relationships $ 361,308 10.1 $ 366,228 10.1 Non-compete agreements 17,499 5.0 19,159 4.9 Patents 1,048 9.0 1,048 8.9 Trademarks 85,178 Indefinite 82,358 Indefinite 465,033 468,793 Less: accumulated amortization (94,800 ) (85,811 ) Intangible assets, net $ 370,233 $ 382,982 Changes in the carrying value of intangible assets for the three months ended March 31, 2019 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2018 $ 304,485 $ 78,497 $ 382,982 Amortization (7,715 ) (1,274 ) (8,989 ) Adjustments to prior year preliminary purchase price allocations (3,451 ) (309 ) (3,760 ) Balance - March 31, 2019 $ 293,319 $ 76,914 $ 370,233

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	4. INVENTORIES Inventories are stated at the lower of cost (First-In, First-Out (FIFO) Method) and net realizable value and consist of the following classes: (thousands) March 31, 2019 December 31, 2018 Raw materials $ 166,369 $ 164,408 Work in process 13,882 12,829 Finished goods 25,003 28,341 Less: reserve for inventory obsolescence (7,341 ) (5,354 ) Total manufactured goods, net 197,913 200,224 Materials purchased for resale (distribution products) 68,876 74,914 Less: reserve for inventory obsolescence (1,795 ) (2,240 ) Total materials purchased for resale (distribution products), net 67,081 72,674 Total inventories $ 264,994 $ 272,898

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
ACQUISITIONS	6. ACQUISITIONS General The Company did no t complete any acquisitions the first quarter of 2019 and completed nine acquisitions in 2018, including four acquisitions in the first quarter of 2018 . Each of the 2018 acquisitions was funded through borrowings under the Company’s credit facility in effect at the time of acquisition. Assets acquired and liabilities assumed in the individual acquisitions were recorded on the Company’s condensed consolidated statements of financial position at their estimated fair values as of the respective dates of acquisition. For each acquisition, the Company completes its allocation of the purchase price to the fair value of acquired assets and liabilities within the one year measurement period. For those acquisitions where the purchase price allocation has been noted as being provisional, the Company generally is still in the process of finalizing the fair values of acquired goodwill, intangible assets, fixed assets, and, if applicable, related deferred tax assets and liabilities. Historically, the impact of finalizing provisional purchase price allocations has not been significant. In general, the acquisitions described below provided the opportunity for the Company to either establish a new presence in a particular market and/or expand its product offerings in an existing market and increase its market share and per unit content. For each acquisition, the excess of the purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which represents the combined value of the Company’s existing purchasing, manufacturing, sales, and systems resources with the organizational talent and expertise of the acquired companies’ respective management teams to maximize efficiencies, revenue impact, market share growth and net income. The goodwill recognized is expected to be deductible for income tax purposes for each of the 2018 acquisitions with the exception of the acquisition of Marine Accessories Corporation which is expected to be partially deductible for income tax purposes, and the acquisition of LaSalle Bristol which is not deductible for income tax purposes. Intangible asset values were estimated using income based valuation methodologies. See Note 5 for information regarding the amortization periods assigned to finite-lived intangible assets. For the first quarter ended April 1, 2018, revenue and operating income of approximately $12.6 million and $1.3 million , respectively, was included in the Company’s condensed consolidated statements of income relating to the four businesses acquired in the first three months of 2018 . Acquisition-related costs in the aggregate associated with the businesses acquired in the first three months of 2018 were immaterial. Contingent Consideration In connection with certain 2018 and 2017 acquisitions, if certain financial targets for the acquired businesses are achieved, the Company will be required to pay additional cash consideration. The Company has recorded a liability for the fair value of the contingent consideration related to each of these acquisitions as part of the initial purchase price based on the present value of the expected future cash flows and the probability of future payments. As required, the liabilities for the contingent consideration associated with each of these acquisitions will be measured quarterly at fair value and the Company could record adjustments in future periods. The aggregate fair value of the estimated contingent consideration payments was $9.4 million , $4.9 million of which is included in the line item "Accrued liabilities" and $4.5 million is included in “Other long-term liabilities” on the condensed consolidated statement of financial position as of March 31, 2019 . The liabilities for contingent consideration expire at various dates through December 2023. The contingent consideration arrangements are subject to a maximum payment amount of up to $13.7 million in the aggregate. In the first quarter of 2019, the Company made cash payments of approximately $4.4 million related to contingent consideration liabilities, recording a corresponding reduction to accrued liabilities. 2018 Acquisitions Metal Moulding Corporation ( “ MMC” ) In February 2018, the Company completed the acquisition of the business and certain assets of Madison, Tennessee-based MMC, a manufacturer of custom metal fabricated products, primarily for the marine market, including hinges, arm rests, brackets, panels and trim, as well as plastic products including boxes, inlay tables, steps, and related components, for a net initial purchase price of $19.9 million , plus subsequent contingent consideration over a one -year period based on future performance. The results of operations for MMC are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. Aluminum Metals Company, LLC (“AMC” ) In February 2018, the Company completed the acquisition of the business and certain assets of Elkhart, Indiana-based AMC, a manufacturer of aluminum products including coil, fabricated sheets and extrusions, in addition to roofing products, primarily for the recreational vehicle (“RV”), industrial, and marine markets, for a net purchase price of $17.8 million . The results of operations for AMC are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. IMP Holdings, LLC d/b/a Indiana Marine Products (“IMP”) In March 2018, the Company completed the acquisition of the business and certain assets of Angola, Indiana-based IMP, a manufacturer of fully-assembled helm assemblies, including electrical wiring harnesses, dash panels, instrumentation and gauges, and other products primarily for the marine market, for a net initial purchase price of $18.6 million , plus subsequent contingent consideration payments over a three -year period based on future performance. The Company recorded a fair value estimate of the contingent consideration of $7.9 million at the time of acquisition. The results of operations for IMP are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The purchase price allocation and all required purchase accounting adjustments were finalized in the first quarter of 2019. Net changes from previously reported estimated amounts as of December 31, 2018 were immaterial. Collins & Company, Inc. (“Collins”) In March 2018, the Company completed the acquisition of the business and certain assets of Bristol, Indiana-based Collins, a distributor of appliances, trim products, fuel systems, flooring, tile, and other related building materials primarily to the RV market as well as the housing and industrial markets, for a net purchase price of $40.0 million . The results of operations for Collins are included in the Company’s condensed consolidated financial statements and the Distribution operating segment from the date of acquisition. The purchase price allocation and all required purchase accounting adjustments were finalized in the first quarter of 2019. Changes from previously reported estimated amounts as of December 31, 2018 include a decrease to intangible assets of $3.6 million and a $3.6 million offsetting increase to goodwill. There was no material impact to the condensed consolidated statement of income related to these changes in the first quarter of 2019. Dehco, Inc. (“Dehco”) In April 2018, the Company completed the acquisition of Dehco, a distributor and manufacturer of flooring, kitchen and bath products, adhesives and sealants, electronics, appliances and accessories, LP tanks, and other related building materials, primarily for the RV market as well as the manufactured housing (“MH”), marine and other industrial markets, for a net purchase price of $52.8 million . Dehco has operating facilities in Indiana, Oregon, Pennsylvania and Alabama. The results of operations for Dehco are included in the Company’s condensed consolidated financial statements and the Manufacturing and Distribution operating segments from the date of acquisition. The purchase price allocation and all required purchase accounting adjustments were finalized in the first quarter of 2019. Changes from previously reported estimated amounts as of December 31, 2018 include a decrease to intangible assets of $0.3 million and a $0.3 million offsetting increase to goodwill. There was no material impact to the condensed consolidated statement of income related to these changes in the first quarter of 2019. Dowco, Inc. (“Dowco”) In May 2018, the Company completed the acquisition of Dowco, a designer and manufacturer of custom designed boat covers and bimini tops, full boat enclosures, mounting hardware, and other accessories and components for the marine market, for a net purchase price of $56.3 million , net of cash acquired. Dowco has operating facilities in Wisconsin, Missouri, Indiana, and Minnesota. The results of operations for Dowco are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The preliminary purchase price allocation is subject to final review and approval, and thus all required purchase accounting adjustments are subject to change within the measurement period as the Company finalizes its fair value estimates. Changes from previously reported estimated amounts as of December 31, 2018 were immaterial. Marine Accessories Corporation (“MAC”) In June 2018, the Company acquired 100% of the membership interests of Maryville, Tennessee-based MAC, a manufacturer, distributor and aftermarket supplier of custom tower and canvas products and other related accessories to OEMs, dealers, retailers and distributors within the marine market, as well as direct to consumers, for a net purchase price of $57.0 million, net of cash acquired. The results of operations for MAC are included in the Company’s condensed consolidated financial statements and the Manufacturing and Distribution operating segments from the date of acquisition. The preliminary purchase price allocation is subject to final review and approval, and thus all required purchase accounting adjustments are subject to change within the measurement period as the Company finalizes its fair value estimates. Changes from previously reported estimated amounts as of December 31, 2018 were immaterial. Engineered Metals and Composites, Inc. (“EMC”) In September 2018, the Company completed the acquisition of West Columbia, South Carolina-based EMC, a designer and manufacturer of custom marine towers, frames, and other fabricated component products for OEMs in the marine industry, for a net initial purchase price of $24.9 million , plus subsequent contingent consideration over a three -month period based on future performance. The Company recorded a preliminary fair value estimate of the contingent consideration of $2.5 million . The results of operations for EMC are included in the Company’s condensed consolidated financial statements and the Manufacturing operating segment from the date of acquisition. The preliminary purchase price allocation is subject to final review and approval, and thus all required purchase accounting adjustments are subject to change within the measurement period as the Company finalizes its fair value estimates. Changes from previously reported estimated amounts as of December 31, 2018 include a decrease to the estimated purchase price of $0.3 million based on a final working capital adjustment resulting from an increase to accounts payable in the same amount. There was no material impact to the condensed consolidated statement of income related to these changes in the first quarter of 2019. LaSalle Bristol (“LaSalle”) In November, 2018, the Company completed the acquisition of LaSalle, a distributor and manufacturer of plumbing, flooring, tile, lighting, air handling and building products for the MH, RV, and industrial markets, for a net purchase price of $51.5 million , net of cash acquired. LaSalle is headquartered in Elkhart, Indiana and operates a total of 15 manufacturing and distribution centers located in North America. The results of operations for LaSalle are included in the Company’s condensed consolidated financial statements and the Manufacturing and Distribution operating segments from the date of acquisition. The preliminary purchase price allocation is subject to final review and approval, and thus all required purchase accounting adjustments are subject to change within the measurement period as the Company finalizes its fair value estimates. After adjusting for a $1.5 million increase in the estimated purchase price reported at December 31, 2018 due to a final working capital adjustment of $1.4 million and other adjustments of $0.1 million , changes from previously reported estimated amounts as of December 31, 2018 include a $6.7 million decrease to inventory and a $6.8 million increase to goodwill. There was no material impact to the condensed consolidated statement of income related to these changes in the first quarter of 2019. The following table summarizes the fair values of the assets acquired and the liabilities assumed as of the date of the acquisition for the 2018 acquisitions. The purchase price allocation in each acquisition is final except as noted in the discussions above: (thousands) Trade receivables Inventories Property, plant and equipment Prepaid expenses & other Intangible assets Goodwill Less: Total liabilities Less: Deferred tax liability, net Total net assets acquired 2018 MMC (1) $ 1,463 $ 2,324 $ 2,085 $ — $ 8,540 $ 7,668 $ 827 $ — $ 21,253 AMC 3,942 5,623 2,321 39 6,550 1,755 2,463 — 17,767 IMP (2) 1,943 4,286 1,463 13 12,920 8,803 2,930 — 26,498 Collins 2,830 9,903 1,188 5 18,430 10,237 2,586 — 40,007 Dehco 4,771 16,923 13,755 208 13,950 6,580 3,392 — 52,795 Dowco 4,053 4,498 5,910 1,240 34,379 10,444 4,178 — 56,346 MAC 3,054 6,815 8,000 284 32,733 19,264 4,290 8,839 57,021 EMC (3) 634 1,576 2,500 — 15,750 8,074 1,115 — 27,419 LaSalle 8,888 39,318 8,500 6,548 5,885 10,497 28,128 41 51,467 Other 473 329 300 13 1,667 899 184 3,497 2018 Totals $ 32,051 $ 91,595 $ 46,022 $ 8,350 $ 150,804 $ 84,221 $ 50,093 $ 8,880 $ 354,070 (1) Total net assets acquired for MMC reflect the preliminary estimated liability of $1.4 million pertaining to the fair value of the contingent consideration based on future performance. The actual net cash paid for the MMC acquisition of $19.9 million is included in “ Cash Flows from Investing Activities - Business Acquisitions ” on the consolidated statement of cash flows for the year ended December 31, 2018. (2) Total net assets acquired for IMP reflect the preliminary estimated liability of $7.9 million pertaining to the fair value of the contingent consideration based on future performance. The actual net cash paid for the IMP acquisition of $18.6 million is included in “ Cash Flows from Investing Activities - Business Acquisitions ” on the consolidated statement of cash flows for the year ended December 31, 2018. (3) Total net assets acquired for EMC reflect the preliminary estimated liability of $2.5 million pertaining to the fair value of the contingent consideration based on future performance. The actual net cash paid for the EMC acquisition of $24.9 million included $25.2 million in “ Cash Flows from Investing Activities - Business Acquisitions ” on the consolidated statement of cash flows for the year ended December 31, 2018 as well as a decrease of $0.3 million in “ Cash Flows from Investing Activities - Business Acquisitions ” on the condensed consolidated statement of cash flows for the first quarter ended March 31, 2019. Pro Forma Information The following pro forma information for the first quarter ended April 1, 2018 assumes the MMC , AMC , IMP , Collins , Dehco, Dowco, MAC, EMC and LaSalle acquisitions (which were completed in 2018) occurred as of the beginning of the year immediately preceding each such acquisition. The pro forma information contains the actual operating results of the 2018 acquisitions combined with the results prior to their respective acquisition dates, adjusted to reflect the pro forma impact of the acquisitions occurring as of the beginning of the year immediately preceding each such acquisition. The pro forma information includes financing and interest expense charges based on the actual incremental borrowings incurred in connection with each transaction as if it occurred as of the beginning of the year immediately preceding each such acquisition. In addition, the pro forma information includes amortization expense, in the aggregate, related to intangible assets acquired in connection with the transactions of $ 2.9 million for the first quarter ended April 1, 2018 . First Quarter Ended (thousands except per share data) April 1, 2018 Revenue $ 690,482 Net income 34,375 Basic net income per common share 1.39 Diluted net income per common share 1.37

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	7. STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with fair value recognition provisions. The Company recorded compensation expense of $3.9 million and $3.7 million for the first quarter ended March 31, 2019 and April 1, 2018 , respectively, for its stock-based compensation plans on the condensed consolidated statements of income. The Company estimates the fair value of (i) all stock grants as of the grant date using the closing price per share of the Company’s common stock on such date, and (ii) all stock option and stock appreciation rights awards as of the grant date by applying the Black-Scholes option pricing model. For full year 2018, the Board of Directors (the “Board”) approved various share grants under the Company’s 2009 Omnibus Incentive Plan (the “Plan”) totaling 181,808 shares in the aggregate, of which grants of 164,988 shares were approved in the first quarter of 2018. The Board approved various share grants under the Plan in the first quarter of 2019 totaling 356,017 shares in the aggregate. As of March 31, 2019 , there was approximately $31.3 million of total unrecognized compensation cost related to stock-based compensation arrangements granted under incentive plans. That cost is expected to be recognized over a weighted-average period of 23.5

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
NET INCOME PER COMMON SHARE	8. NET INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding, plus the dilutive effect of stock options, stock appreciation rights, and restricted stock units (collectively “Common Stock Equivalents”). The dilutive effect of Common Stock Equivalents is calculated under the treasury stock method using the average market price for the period. Certain Common Stock Equivalents were not included in the computation of diluted net income per common share because the exercise prices of those Common Stock Equivalents were greater than the average market price of the common shares. Income per common share is calculated for the first quarter of 2019 and 2018 is as follows: First Quarter Ended (thousands except per share data) March 31, 2019 April 1, 2018 Net income for basic and diluted per share calculation $ 20,849 $ 30,068 Weighted average common shares outstanding - basic 23,039 24,740 Effect of potentially dilutive securities 209 370 Weighted average common shares outstanding - diluted 23,248 25,110 Basic net income per common share $ 0.90 $ 1.22 Diluted net income per common share $ 0.90 $ 1.20

DEBT

DEBT	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
DEBT	9. DEBT A summary of total debt outstanding at March 31, 2019 and December 31, 2018 is as follows: (thousands) March 31, 2019 December 31, 2018 Long-term debt: Revolver $ 385,000 $ 392,332 Term Loan 95,000 96,250 Convertible Notes 172,500 172,500 Total long-term debt 652,500 661,082 Less: Convertible Notes debt discount (28,454 ) (30,125 ) Less: current maturities of long-term debt (10,000 ) (8,750 ) Less: net deferred financing costs related to Term Loan (447 ) (456 ) Total long-term debt, less current maturities, net $ 613,599 $ 621,751 2018 Credit Facility The Company entered into a Second Amended and Restated Credit Agreement, dated as of June 5, 2018, (the “2018 Credit Agreement”) by and among the Company, the Lenders party thereto, and Wells Fargo, as Administrative Agent. The 2018 Credit Agreement amended and restated the Company’s 2015 Credit Agreement. The 2018 Credit Agreement established a credit facility comprised of an $800 million revolving credit loan (the “2018 Revolver”) and a $100 million term loan (the “2018 Term Loan” and, together with the 2018 Revolver, the “2018 Credit Facility”). Borrowings under the 2018 Credit Agreement mature on March 17, 2022. The 2018 Credit Agreement is secured by substantially all personal property assets of the Company and any domestic subsidiary guarantors. The 2018 Credit Agreement includes certain definitions, terms and reporting requirements and includes the following additional provisions: • The 2018 Term Loan will be repaid in consecutive quarterly installments on the last business day of each of March, June, September and December in the following amounts: (i) beginning June 30, 2018, through and including March 31, 2019, $1,250,000 , (ii) beginning June 30, 2019, through and including March 31, 2021, $2,500,000 , and (iii) beginning June 30, 2021, and each quarter thereafter, $3,750,000 , with the remaining balance due at maturity; • The interest rates for borrowings under the 2018 Revolver and the 2018 Term Loan are the Base Rate plus the Applicable Margin or LIBOR plus the Applicable Margin, with a fee payable by the Company on unused but committed portions of the Revolver; • The 2018 Revolver includes a $10.0 million limit for same day advances (“Swing Line”) which shall bear interest based upon the Base Rate plus the Applicable Margin; • Up to $10.0 million of the 2018 Revolver is available as a sub facility for the issuance of standby letters of credit, which are subject to certain expiration dates; • The financial covenants include requirements as to a consolidated total leverage ratio and a consolidated fixed charge coverage ratio, and other covenants include limitations and restrictions concerning permitted acquisitions, investments, sales of assets, liens on assets, dividends and other payments; and • Customary prepayment provisions, representations, warranties and covenants, and events of default. At March 31, 2019 , the Company had $95.0 million outstanding under the 2018 Term Loan under the LIBOR-based option, and borrowings outstanding under the 2018 Revolver of $385.0 million under the LIBOR-based option. The interest rate for incremental borrowings at March 31, 2019 was the Prime Rate plus 1.00% (or 6.50% ) for the Base Rate-based option, or LIBOR plus 2.00% (or 4.50% ) for the LIBOR-based option. At December 31, 2018 , the Company had $96.3 million outstanding under the 2018 Term Loan under the LIBOR-based option, and borrowings outstanding under the 2018 Revolver of: (i) $388.0 million under the LIBOR-based option and (ii) $4.3 million under the Base Rate-based option. The interest rate for incremental borrowings at December 31, 2018 was the Prime Rate plus 1.00% (or 6.50% ) for the Base Rate-based option, or LIBOR plus 2.00% (or 4.56% ) for the LIBOR-based option. The fee payable on committed but unused portions of the 2018 Revolver was 0.25% at March 31, 2019 and December 31, 2018 . Pursuant to the 2018 Credit Agreement, the financial covenants include: (a) a required maximum consolidated total leverage ratio, measured on a quarter-end basis, not to exceed 3.00 : 1.00 for the 12 -month period ending on such quarter-end; and (b) a required minimum consolidated fixed charge coverage ratio, measured on a quarter-end basis, of at least 1.50 : 1.00 for the 12 -month period ending on such quarter-end. The consolidated total leverage ratio is the ratio for any period of consolidated total indebtedness (as measured as of the second day following the end of the immediately preceding fiscal quarter) to consolidated adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”). Consolidated total indebtedness for any period is the sum of: (i) total debt outstanding under the 2018 Revolver, the 2018 Term Loan and the Convertible Notes (as defined herein); (ii) capital leases and letters of credit outstanding; and (iii) deferred payment obligations. The consolidated fixed charge coverage ratio for any period is the ratio of consolidated EBITDA less restricted payments, taxes paid and capital expenditures as defined under the 2018 Credit Agreement to consolidated fixed charges. Consolidated fixed charges for any period is the sum of cash interest expense related to the 2018 Term Loan, 2018 Revolver and the Convertibles Notes, and scheduled principal payments on outstanding indebtedness under the 2018 Term Loan. As of and for the March 31, 2019 reporting date, the Company was in compliance with both of these financial debt covenants as required under the terms of the 2018 Credit Agreement. The required maximum consolidated total leverage ratio and the required minimum consolidated fixed charge coverage ratio compared to the actual amounts as of March 31, 2019 and for the fiscal period then ended are as follows: Required Actual Consolidated total leverage ratio (12-month period) 3.00 2.46 Consolidated fixed charge coverage ratio (12-month period) 1.50 2.87 Total cash interest paid for the first quarter of 2019 and 2018 was $6.5 million and $2.9 million , respectively. Interest Rate Swaps In the third quarter of 2018, the Company entered into $200.0 million notional amount of variable to fixed interest rate swaps to partially hedge risks associated with the variable LIBOR component of the 2018 Credit Facility. These interest rate swaps fix the LIBOR component of interest expense on $200.0 million of the debt outstanding under the 2018 Credit Facility at an average interest rate of 2.91% , with an all-in average rate of 4.91% with the current applicable margin, discussed above. See Note 10 for further details. Convertible Senior Notes In January 2018, the Company issued $172.5 million aggregate principal amount of 1.00% Convertible Senior Notes due 2023 (the “Convertible Notes”). The total debt discount of $36.0 million at issuance consisted of two components: (i) the conversion option component, recorded to shareholders' equity, in the amount of $31.9 million , representing the difference between the principal amount of the Convertible Notes upon issuance less the present value of the future cash flows of the Convertible Notes and (ii) debt issuance costs of $4.1 million . The unamortized portion of the total debt discount is being amortized to interest expense over the life of the Convertible Notes beginning in the first quarter of 2018. The effective interest rate on the Convertible Notes, which includes the non-cash interest expense of debt discount amortization and debt issuance costs, was 5.25% as of March 31, 2019 and December 31, 2018. The unamortized portion of the debt discount and debt issuance costs as of March 31, 2019 was $28.5 million . The net proceeds from the issuance of the Convertible Notes were approximately $167.5 million , after deducting the initial purchasers’ discounts and commissions and offering expenses payable by the Company, but before deducting the net cost of the Convertible Note Hedge Transactions and the Warrant Transactions (each as defined herein) described in Note 10. The Convertible Notes are senior unsecured obligations of the Company and pay interest semi-annually in arrears on February 1 and August 1 of each year at an annual rate of 1.00% beginning August 1, 2018. The Convertible Notes will mature on February 1, 2023 unless earlier repurchased or converted in accordance with their terms. The Convertible Notes are convertible by the noteholders, in certain circumstances and subject to certain conditions, into cash, shares of common stock of the Company, or a combination thereof, at the Company’s election. The initial conversion rate for the Convertible Notes is 11.3785 shares of the Company's common stock per $1,000 principal amount of the Convertible Notes (or 1,962,790 shares in the aggregate) and is equal to an initial conversion price of approximately $87.89 per share. If an event of default on the Convertible Notes occurs, the principal amount of the Convertible Notes, plus accrued and unpaid interest (including additional interest, if any) may be declared immediately due and payable, subject to certain conditions. Convertible Notes holders can convert their Convertibles Notes on or after August 1, 2022 at any time at their option. Holders may convert Convertible Notes prior to August 1, 2022, only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on June 30, 2018, if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day, (ii) during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98%

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	10. DERIVATIVE FINANCIAL INSTRUMENTS Convertible Note Hedge Transactions and Warrant Transactions In January 2018, in connection with the Convertible Notes offering, the Company entered into privately negotiated convertible note hedge transactions (together, the “Convertible Note Hedge Transactions”) with each of Bank of America, N.A. and Wells Fargo Bank, National Association (together, the “Hedge Counterparties”). Pursuant to the Convertible Note Hedge Transactions, the Company acquired options to purchase the same number of shares of the Company's common stock (or 1,962,790 shares) initially underlying the Convertibles Notes at an initial strike price equal to the initial strike price of the Convertible Notes of approximately $87.89 per share, subject to customary anti-dilution adjustments. The options expire on February 1, 2023, subject to earlier exercise. At the same time, the Company also entered into separate, privately negotiated warrant transactions (the “Warrant Transactions”) with each of the Hedge Counterparties, pursuant to which the Company sold warrants to purchase the same number of shares of the Company’s common stock (or 1,962,790 shares) underlying the Convertible Notes, at an initial strike price of approximately $113.93 per share, subject to customary anti-dilution adjustments. The warrants have a final expiration date of September 20, 2023. The Company paid $31.5 million associated with the cost of the Convertible Note Hedge Transactions and received proceeds of $18.1 million related to the Warrant Transactions. The Convertible Note Hedge Transactions are expected generally to reduce potential dilution to the Company’s common stock upon any conversion of the Convertible Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Convertible Notes. However, the Warrant Transactions, could separately have a dilutive effect on the Company's common stock to the extent that the market price per share of the common stock exceeds the strike price of the warrants. As these transactions meet certain accounting criteria, the Convertible Note Hedges Transactions and Warrant Transactions are recorded in stockholders’ equity and are not accounted for as derivatives. Interest Rate Swaps The 2018 Credit Facility exposes the Company to risk associated with the variability in interest expense associated with fluctuations in LIBOR. To partially mitigate this risk, the Company entered into interest rate swaps on a portion of its 2018 Credit Facility. As of March 31, 2019 , the Company had a combined notional principal amount of $200.0 million of variable to fixed interest rate swap agreements, all of which were designated as cash flow hedges. These swap agreements effectively convert the interest expense associated with a portion of the 2018 Term Loan and a portion of the 2018 Revolver from variable interest rates to fixed interest rates and have maturities ranging from February 2022 to March 2022. Fair Value of Derivative Contracts The following table summarizes the fair value of derivative contracts included in the accompanying condensed consolidated balance sheet (in thousands): Fair value of derivative liabilities Derivatives accounted for as cash flow hedges Balance sheet location March 31, 2019 December 31, 2018 Interest rate swap agreements Other long-term liabilities $ 4,062 $ 2,652 The interest rate swaps are comprised of over-the-counter derivatives, which are valued using models that primarily rely on observable inputs such as yield curves, and are classified as Level 2 in the fair value hierarchy. AOCI Recognition The following table presents the amount of gains and losses that have been recognized in accumulated other comprehensive ("AOCI") from changes in the unrealized gain on the interest rate swaps, net of tax (in thousands): Unrealized Loss Recognized in AOCI First Quarter Ended March 31, 2019 April 1, 2018 $ 3,027 $ —

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	11. ACCUMULATED OTHER COMPREHENSIVE LOSS The Company incurs activity in AOCI for unrealized gains and losses on derivatives that qualify as hedges of cash flows, unrecognized pension costs and cumulative foreign currency translation adjustments. The activity in AOCI is as follows: (thousands) Cash Flow Hedges Defined Benefit Pension Foreign Currency Items Total Balance at December 31, 2018 $ (1,973 ) $ (675 ) $ (32 ) $ (2,680 ) Other comprehensive income (loss) (net of tax of $356, $0 and $0) (1,054 ) — 27 (1,027 ) Balance at March 31, 2019 $ (3,027 ) $ (675 ) $ (5 ) $ (3,707 ) (thousands) Defined Benefit Pension Foreign Currency Items Total Balance at December 31, 2017 $ 66 $ — $ 66 Other comprehensive income (net of tax of $0 and $0) — 28 28 Balance at April 1, 2018 $ 66 $ 28 $ 94

LEASES

LEASES	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
LEASES	12. LEASES The Company adopted the provisions of ASC 842 in January of 2019 using the modified retrospective approach as of the effective date of ASC 842 (the effective date method). Under the effective date method, financial results in periods reported prior to 2019 are unchanged. As a result of the adoption of ASC 842, operating leases for certain warehouses, buildings, forklifts, trucks, trailers and other equipment are now recognized as right-of-use assets and corresponding short-term and long-term lease liabilities. The Company utilized a package of available practical expedients in the adoption of ASC 842, which, among them, does not require the reassessment of operating versus capital lease classification. Leases with an initial term of 12 months or less are not recorded on the balance sheet and expense related to these short term leases is included in total operating lease cost and not separately disclosed due to immateriality. Lease and non-lease components in the fixed base rent of facility and equipment leases are included as a single component and accounted for as a lease. Pursuant to ASC 842, the Company elected to use the remaining non-cancellable lease term as of January 1, 2019 in determining the lease term at the date of adoption and the corresponding incremental borrowing rate for such leases. Variable lease expense, principally related to trucks, forklifts, and index-related facility rent escalators, was immaterial for the quarter ended March 31, 2019 and is expected to be immaterial for 2019. Leases have remaining lease terms of one year to ten years . Certain leases include options to renew for an additional term. Where there is reasonable certainty to utilize a renewal option, we would include the renewal option in the lease term used to calculate operating lease right-of-use assets and liabilities. Lease expense, supplemental cash flow information, and other information related to leases were as follows: (thousands) First Quarter Ended March 31, 2019 Operating lease cost $ 7,787 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 6,724 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 577 Balance sheet information related to leases was as follows: (thousands, except lease term and discount rate) March 31, 2019 Assets Operating lease right-of-use assets $ 79,868 Liabilities Operating lease liabilities, current portion $ 25,874 Long-term operating lease liabilities 54,309 Total lease liabilities $ 80,183 Weighted average remaining lease term, operating leases (in years) 3.86 Weighted average discount rate, operating leases 4.01 % Maturities of lease liabilities were as follows at March 31, 2019: (thousands) 2019 (excluding the three months ended March 31, 2019) $ 21,884 2020 24,314 2021 17,542 2022 10,910 2023 6,864 Thereafter 5,211 Total lease payments 86,725 Less imputed interest (6,542 ) Total $ 80,183 As of March 31, 2019, we have additional operating leases, primarily for facilities and equipment, that have not yet commenced of $1.5 million in future cash payments under the non-cancellable terms of the leases. These operating leases will commence in fiscal year 2019 with lease terms of 4 years to 7 years. Disclosures related to periods prior to the adoption of ASC 842: Maturities of lease liabilities were as follows at December 31, 2018: (thousands) 2019 $ 29,345 2020 23,344 2021 16,165 2022 9,602 2023 5,357 Thereafter 4,883 Total $ 88,696 Operating lease expense for the first quarter of 2018 was approximately $6 million

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	13. FAIR VALUE MEASUREMENTS The carrying amounts of cash and cash equivalents, trade receivables, and accounts payable approximated fair value as of March 31, 2019 and December 31, 2018 because of the relatively short maturities of these financial instruments. The carrying amounts of the 2018 Term Loan and the 2018 Revolver approximated fair value as of March 31, 2019 and December 31, 2018 , respectively, based upon terms and conditions available to the Company at those dates in comparison to the terms and conditions of its outstanding debt. The estimated fair value of the Convertible Notes, calculated using Level 2 inputs, was approximately $154.8 million as of March 31, 2019

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	14. INCOME TAXES The effective tax rate in the first quarter of 2019 and 2018 was 22.3% and 19.6% , respectively. The effective tax rate for the periods presented includes the impact of the recognition of excess tax benefits on share-based compensation that was recorded as a reduction to income tax expense upon realization in the amount of $0.8 million and $2.1 million in the first quarter of 2019 and 2018, respectively. The Company paid income taxes of $1.5 million in the first quarter of 2019 and an immaterial amount in the first quarter of 2018 . Due to the timing of tax payments, the Company paid an additional $10.2 million in April 2019 (the beginning of the 2019 second fiscal quarter) and $3.7 million

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	15. SEGMENT INFORMATION The Company has determined that its reportable segments are those based on its method of internal reporting, which segregates its businesses by product category and production/distribution process. A description of the Company’s reportable segments is as follows: Manufacturing – Products in this segment include: laminated products that are utilized to produce furniture, shelving, walls, countertops, and cabinet products, cabinet doors, fiberglass bath fixtures and tile systems, hardwood furniture, vinyl printing, decorative vinyl and paper laminated panels, solid surface, granite, and quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components (including instrument and dash panels), wrapped vinyl, paper and hardwood profile mouldings, interior passage doors, air handling products, slide-out trim and fascia, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and components products, wiring and wire harnesses, boat covers, towers, tops and frames, aluminum fuel tanks, CNC molds and composite parts, slotwall panels and components and other products. The Manufacturing segment contributed approximately 70% and 79% of the Company’s net sales for the first three months ended March 31, 2019 and April 1, 2018 , respectively. Distribution – The Company distributes pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, appliances, wiring, electrical and plumbing products, fiber reinforced polyester products, cement siding, raw and processed lumber, interior passage doors, roofing products, laminate and ceramic flooring, tile, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other miscellaneous products, in addition to providing transportation and logistics services. The Distribution segment contributed approximately 30% and 21% of the Company’s net sales for the three months ended March 31, 2019 and April 1, 2018 , respectively. The tables below present unaudited information about the sales and operating income of those segments. First Quarter Ended March 31, 2019 (thousands) Manufacturing Distribution Total Net outside sales $ 425,684 $ 182,534 $ 608,218 Intersegment sales 7,720 1,165 8,885 Total sales 433,404 183,699 617,103 Operating income 44,437 8,291 52,728 First Quarter Ended April 1, 2018 (thousands) Manufacturing Distribution Total Net outside sales $ 435,913 $ 115,919 $ 551,832 Intersegment sales 9,369 669 10,038 Total sales 445,282 116,588 561,870 Operating income 52,923 7,290 60,213 The following table presents a reconciliation of segment operating income to consolidated operating income: First Quarter Ended (thousands) March 31, 2019 April 1, 2018 Operating income for reportable segments $ 52,728 $ 60,213 Unallocated corporate expenses (7,913 ) (11,328 ) Amortization (8,989 ) (7,127 ) Consolidated operating income $ 35,826 $ 41,758

STOCK REPURCHASE PROGRAMS

STOCK REPURCHASE PROGRAMS	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
STOCK REPURCHASE PROGRAM	16. STOCK REPURCHASE PROGRAMS In 2018, the Board approved a new stock repurchase program for up to $50 million of its common stock as well as two additions totaling $87.9 million to this program. Approximately $30.3 million remains in the amount of the Company's common stock that may be acquired under the current stock repurchase program. The Company did not repurchase any of its common stock in the first quarter of 2019. In the first quarter of 2018, the Company repurchased 221,095 of its common stock at an average price of $60.93 per share at an aggregate cost of $13.5 million . Common Stock

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	17. RELATED PARTY TRANSACTIONS In the first three months of 2019 , the Company entered into transactions with companies affiliated with two of its independent Board members. The Company purchased approximately $0.2 million of corrugated packaging materials from Welch Packaging Group, an independently owned company established by M. Scott Welch who serves as its President and CEO. The Company also sold approximately $0.2 million

RECENTLY ISSUED ACCOUNTING PR_2

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Issued Accounting Pronouncements	Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, " Leases (Topic 842) ", which requires that an entity recognize lease assets and lease liabilities on its statement of financial position for leases that were previously classified as operating leases under U.S. GAAP. The standard also requires companies to disclose in the footnotes to the financial statements information about the amount and timing of lease payments. The standard is effective for financial statements issued for annual and interim periods beginning after December 15, 2018 on a modified retrospective basis and early adoption was permitted. In July 2018, the FASB issued ASU 2018-11, " Leases (Topic 842): Targeted Improvements ", which offered practical expedient alternatives to the modified retrospective adoption of Accounting Standards Codification (“ASC”) 842. Specifically, the practical expedients allow companies to recognize right of use lease assets and lease liabilities at the date of adoption only, rather than retrospectively for all periods presented, as well as practical expedients related to the presentation of lease components. The Company adopted ASC 842 effective January 1, 2019, and recorded approximately $80 million in lease right-of-use assets and corresponding lease liabilities, with no material impact on the condensed consolidated statement of shareholders' equity, results of operations or cash flows. See Note 12 for further information. Goodwill Impairment In January 2017, the FASB issued ASU 2017-04, " Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ". This ASU simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. The standard requires that the impairment loss be measured as the excess of the reporting unit's carrying amount over its fair value. It eliminates the second step that requires the impairment to be measured between the implied value of a reporting unit's goodwill and its carrying value. The standard is effective for annual and any interim impairment tests for periods beginning after December 15, 2019 and early adoption is permitted. The Company is currently evaluating the effect of adopting this new accounting standard and has not yet determined the impact that its implementation will have on its condensed consolidated financial statements. Credit Losses In June 2016, the FASB issued ASU 2016-13 “ Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.
Revenue Recognition	Description of Products and Services The Company is a major manufacturer of component products and a distributor of building products and materials serving original equipment manufacturers (“OEMs”). The following is a description of the principal activities, by reportable segments, from which the Company generates its revenue. See Note 15 for more detailed information about the Company's reportable operating segments. Manufacturing The Company’s Manufacturing segment revenue is primarily derived from the sale of laminated products that are utilized to produce furniture, shelving, walls, countertops, and cabinet products, cabinet doors, fiberglass bath fixtures and tile systems, hardwood furniture, vinyl printing, decorative vinyl and paper laminated panels, solid surface, granite, and quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components (including instrument and dash panels), wrapped vinyl, paper and hardwood profile mouldings, interior passage doors, air handling products, slide-out trim and fascia, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and components products, wiring and wire harnesses, boat covers, towers, tops and frames, aluminum fuel tanks, CNC molds and composite parts, slotwall panels and components and other products. Manufacturing segment revenue is recognized when control of the product transfers to the customer which is the point when the customer gains the ability to direct the use of and obtain substantially all of the remaining benefits from the asset, which is generally upon delivery of goods. In limited circumstances, where the products are customer specific with no alternative use to the Company and the Company has a legally enforceable right to payment for performance to date with a reasonable margin, revenue is recognized over the contract term based on the cost-to-cost method. The Company uses this measure of progress because it best depicts the transfer of value to the customer and correlates with the amount of consideration to which the entity expects to be entitled in exchange for transferring the promised goods to the customer. However, revenue recognized based on the cost-to-cost method does not constitute a material amount of total Manufacturing segment revenue and consolidated net sales. Distribution The Company’s Distribution segment revenue is primarily derived from the resale of pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, appliances, wiring, electrical and plumbing products, fiber reinforced polyester products, cement siding, raw and processed lumber, interior passage doors, roofing products, laminate and ceramic flooring, tile, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other miscellaneous products, in addition to providing transportation and logistics services. The Company acts as a principal in such arrangements because it controls the promised goods before delivery to the customer. Distribution segment revenue from product sales is recognized on a gross basis upon delivery of goods at which point control transfers to the customer. The Distribution segment also generates revenue by providing marketing services for other manufacturers in exchange for agreed upon commissions. The commission revenue is recognized in the amount of expected commissions to be collected from the manufacturer upon delivery of goods to the customer. The overall commission business is not material to the Company’s consolidated net sales. Significant Judgments and Practical Expedients Applied Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are not recognized as separate performance obligations to which a portion of revenue would otherwise be allocated. The Company records freight billed to customers in net sales. The corresponding costs incurred for shipping and handling related to these customer billed freight costs are recorded as costs to fulfill the contract and are included in warehouse and delivery expenses. The Company’s contracts across each of its businesses typically do not result in situations where there is a time period greater than one year between performance under the contract and collection of the related consideration. The Company elected the practical expedient under Topic 606 related to significant financing components, where the Company expects, at contract inception, that the period between the entity’s transfer of a promised good or service to a customer and the customer’s payment for that good or service will be one year or less. The Company also applies the practical expedient in Topic 606 related to costs to obtain a contract and recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the incurred costs that the Company otherwise would have capitalized is one year or less. These costs are included in selling, general and administrative expenses. Contract Balances Revenues are recognized when or as control of the promised goods or services transfers to the Company's customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	In the following table, revenue from contracts with customers, net of intersegment sales, is disaggregated by market type and by reportable operating segments: First Quarter Ended March 31, 2019 (thousands) Manufacturing Distribution Total Reportable Operating Segments Market type: Recreational Vehicle $ 234,878 $ 107,558 $ 342,436 Manufactured Housing 42,203 63,816 106,019 Industrial 60,928 8,049 68,977 Marine 87,675 3,111 90,786 Total $ 425,684 $ 182,534 $ 608,218 First Quarter Ended April 1, 2018 (thousands) Manufacturing Distribution Total Reportable Operating Segments Market type: Recreational Vehicle $ 293,225 $ 85,066 $ 378,291 Manufactured Housing 39,315 22,941 62,256 Industrial 58,677 7,018 65,695 Marine 44,696 894 45,590 Total $ 435,913 $ 115,919 $ 551,832
Schedule of Contract Assets and Liabilities	The following table provides information about contract balances: (thousands) March 31, 2019 December 31, 2018 Receivables, which are included in trade receivables, net $ 135,202 $ 74,196 Contract liabilities $ 2,847 $ 2,642 Significant changes in the contract liabilities balance during the three months ended March 31, 2019 are as follows: (thousands) Contract Liabilities Revenue recognized that was included in the contract liability balance at the beginning of the period $ (910 ) Increases due to cash received, excluding amounts recognized as revenue during the period $ 1,115

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Changes in the carrying amount of goodwill for the three months ended March 31, 2019 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2018 $ 235,345 $ 46,389 $ 281,734 Adjustments to prior year preliminary purchase price allocations 339 10,040 10,379 Balance - March 31, 2019 $ 235,684 $ 56,429 $ 292,113
Schedule of intangible assets, net	Intangible assets, net consist of the following as of March 31, 2019 and December 31, 2018 : (thousands) March 31, Weighted Average Useful Life December 31, Weighted Average Useful Life Customer relationships $ 361,308 10.1 $ 366,228 10.1 Non-compete agreements 17,499 5.0 19,159 4.9 Patents 1,048 9.0 1,048 8.9 Trademarks 85,178 Indefinite 82,358 Indefinite 465,033 468,793 Less: accumulated amortization (94,800 ) (85,811 ) Intangible assets, net $ 370,233 $ 382,982
Schedule of changes in intangible assets	Changes in the carrying value of intangible assets for the three months ended March 31, 2019 by segment are as follows: (thousands) Manufacturing Distribution Total Balance - December 31, 2018 $ 304,485 $ 78,497 $ 382,982 Amortization (7,715 ) (1,274 ) (8,989 ) Adjustments to prior year preliminary purchase price allocations (3,451 ) (309 ) (3,760 ) Balance - March 31, 2019 $ 293,319 $ 76,914 $ 370,233

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories are stated at the lower of cost (First-In, First-Out (FIFO) Method) and net realizable value and consist of the following classes: (thousands) March 31, 2019 December 31, 2018 Raw materials $ 166,369 $ 164,408 Work in process 13,882 12,829 Finished goods 25,003 28,341 Less: reserve for inventory obsolescence (7,341 ) (5,354 ) Total manufactured goods, net 197,913 200,224 Materials purchased for resale (distribution products) 68,876 74,914 Less: reserve for inventory obsolescence (1,795 ) (2,240 ) Total materials purchased for resale (distribution products), net 67,081 72,674 Total inventories $ 264,994 $ 272,898

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Schedule of assets acquired and liabilities assumed	The purchase price allocation in each acquisition is final except as noted in the discussions above: (thousands) Trade receivables Inventories Property, plant and equipment Prepaid expenses & other Intangible assets Goodwill Less: Total liabilities Less: Deferred tax liability, net Total net assets acquired 2018 MMC (1) $ 1,463 $ 2,324 $ 2,085 $ — $ 8,540 $ 7,668 $ 827 $ — $ 21,253 AMC 3,942 5,623 2,321 39 6,550 1,755 2,463 — 17,767 IMP (2) 1,943 4,286 1,463 13 12,920 8,803 2,930 — 26,498 Collins 2,830 9,903 1,188 5 18,430 10,237 2,586 — 40,007 Dehco 4,771 16,923 13,755 208 13,950 6,580 3,392 — 52,795 Dowco 4,053 4,498 5,910 1,240 34,379 10,444 4,178 — 56,346 MAC 3,054 6,815 8,000 284 32,733 19,264 4,290 8,839 57,021 EMC (3) 634 1,576 2,500 — 15,750 8,074 1,115 — 27,419 LaSalle 8,888 39,318 8,500 6,548 5,885 10,497 28,128 41 51,467 Other 473 329 300 13 1,667 899 184 3,497 2018 Totals $ 32,051 $ 91,595 $ 46,022 $ 8,350 $ 150,804 $ 84,221 $ 50,093 $ 8,880 $ 354,070 (1) Total net assets acquired for MMC reflect the preliminary estimated liability of $1.4 million pertaining to the fair value of the contingent consideration based on future performance. The actual net cash paid for the MMC acquisition of $19.9 million is included in “ Cash Flows from Investing Activities - Business Acquisitions ” on the consolidated statement of cash flows for the year ended December 31, 2018. (2) Total net assets acquired for IMP reflect the preliminary estimated liability of $7.9 million pertaining to the fair value of the contingent consideration based on future performance. The actual net cash paid for the IMP acquisition of $18.6 million is included in “ Cash Flows from Investing Activities - Business Acquisitions ” on the consolidated statement of cash flows for the year ended December 31, 2018. (3) Total net assets acquired for EMC reflect the preliminary estimated liability of $2.5 million pertaining to the fair value of the contingent consideration based on future performance. The actual net cash paid for the EMC acquisition of $24.9 million included $25.2 million in “ Cash Flows from Investing Activities - Business Acquisitions ” on the consolidated statement of cash flows for the year ended December 31, 2018 as well as a decrease of $0.3 million in “ Cash Flows from Investing Activities - Business Acquisitions ” on the condensed consolidated statement of cash flows for the first quarter ended March 31, 2019.
Schedule of pro forma information	First Quarter Ended (thousands except per share data) April 1, 2018 Revenue $ 690,482 Net income 34,375 Basic net income per common share 1.39 Diluted net income per common share 1.37

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share	Income per common share is calculated for the first quarter of 2019 and 2018 is as follows: First Quarter Ended (thousands except per share data) March 31, 2019 April 1, 2018 Net income for basic and diluted per share calculation $ 20,849 $ 30,068 Weighted average common shares outstanding - basic 23,039 24,740 Effect of potentially dilutive securities 209 370 Weighted average common shares outstanding - diluted 23,248 25,110 Basic net income per common share $ 0.90 $ 1.22 Diluted net income per common share $ 0.90 $ 1.20

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of total debt outstanding	A summary of total debt outstanding at March 31, 2019 and December 31, 2018 is as follows: (thousands) March 31, 2019 December 31, 2018 Long-term debt: Revolver $ 385,000 $ 392,332 Term Loan 95,000 96,250 Convertible Notes 172,500 172,500 Total long-term debt 652,500 661,082 Less: Convertible Notes debt discount (28,454 ) (30,125 ) Less: current maturities of long-term debt (10,000 ) (8,750 ) Less: net deferred financing costs related to Term Loan (447 ) (456 ) Total long-term debt, less current maturities, net $ 613,599 $ 621,751
Schedule of required financial covenants	As of and for the March 31, 2019 reporting date, the Company was in compliance with both of these financial debt covenants as required under the terms of the 2018 Credit Agreement. The required maximum consolidated total leverage ratio and the required minimum consolidated fixed charge coverage ratio compared to the actual amounts as of March 31, 2019 and for the fiscal period then ended are as follows: Required Actual Consolidated total leverage ratio (12-month period) 3.00 2.46 Consolidated fixed charge coverage ratio (12-month period) 1.50 2.87

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair Value	The following table summarizes the fair value of derivative contracts included in the accompanying condensed consolidated balance sheet (in thousands): Fair value of derivative liabilities Derivatives accounted for as cash flow hedges Balance sheet location March 31, 2019 December 31, 2018 Interest rate swap agreements Other long-term liabilities $ 4,062 $ 2,652
Schedule of Derivative Liabilities at Fair Value	The following table summarizes the fair value of derivative contracts included in the accompanying condensed consolidated balance sheet (in thousands): Fair value of derivative liabilities Derivatives accounted for as cash flow hedges Balance sheet location March 31, 2019 December 31, 2018 Interest rate swap agreements Other long-term liabilities $ 4,062 $ 2,652
Schedule of Derivative Gains and Losses Recognized in AOCI	The following table presents the amount of gains and losses that have been recognized in accumulated other comprehensive ("AOCI") from changes in the unrealized gain on the interest rate swaps, net of tax (in thousands): Unrealized Loss Recognized in AOCI First Quarter Ended March 31, 2019 April 1, 2018 $ 3,027 $ —

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The activity in AOCI is as follows: (thousands) Cash Flow Hedges Defined Benefit Pension Foreign Currency Items Total Balance at December 31, 2018 $ (1,973 ) $ (675 ) $ (32 ) $ (2,680 ) Other comprehensive income (loss) (net of tax of $356, $0 and $0) (1,054 ) — 27 (1,027 ) Balance at March 31, 2019 $ (3,027 ) $ (675 ) $ (5 ) $ (3,707 ) (thousands) Defined Benefit Pension Foreign Currency Items Total Balance at December 31, 2017 $ 66 $ — $ 66 Other comprehensive income (net of tax of $0 and $0) — 28 28 Balance at April 1, 2018 $ 66 $ 28 $ 94

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease Expense, Supplemental Cash Flow and Other Lease Information	Lease expense, supplemental cash flow information, and other information related to leases were as follows: (thousands) First Quarter Ended March 31, 2019 Operating lease cost $ 7,787 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 6,724 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 577
Lease Assets and Liabilities	Balance sheet information related to leases was as follows: (thousands, except lease term and discount rate) March 31, 2019 Assets Operating lease right-of-use assets $ 79,868 Liabilities Operating lease liabilities, current portion $ 25,874 Long-term operating lease liabilities 54,309 Total lease liabilities $ 80,183 Weighted average remaining lease term, operating leases (in years) 3.86 Weighted average discount rate, operating leases 4.01 %
Operating Lease Liability Maturity	Maturities of lease liabilities were as follows at March 31, 2019: (thousands) 2019 (excluding the three months ended March 31, 2019) $ 21,884 2020 24,314 2021 17,542 2022 10,910 2023 6,864 Thereafter 5,211 Total lease payments 86,725 Less imputed interest (6,542 ) Total $ 80,183
Future Minimum Minimum Lease Payments	Maturities of lease liabilities were as follows at December 31, 2018: (thousands) 2019 $ 29,345 2020 23,344 2021 16,165 2022 9,602 2023 5,357 Thereafter 4,883 Total $ 88,696

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of segment reporting information	The tables below present unaudited information about the sales and operating income of those segments. First Quarter Ended March 31, 2019 (thousands) Manufacturing Distribution Total Net outside sales $ 425,684 $ 182,534 $ 608,218 Intersegment sales 7,720 1,165 8,885 Total sales 433,404 183,699 617,103 Operating income 44,437 8,291 52,728 First Quarter Ended April 1, 2018 (thousands) Manufacturing Distribution Total Net outside sales $ 435,913 $ 115,919 $ 551,832 Intersegment sales 9,369 669 10,038 Total sales 445,282 116,588 561,870 Operating income 52,923 7,290 60,213
Summary of the reconciliation of segment operations	The following table presents a reconciliation of segment operating income to consolidated operating income: First Quarter Ended (thousands) March 31, 2019 April 1, 2018 Operating income for reportable segments $ 52,728 $ 60,213 Unallocated corporate expenses (7,913 ) (11,328 ) Amortization (8,989 ) (7,127 ) Consolidated operating income $ 35,826 $ 41,758

RECENTLY ISSUED ACCOUNTING PR_3

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 79,868		$ 0
Operating lease liability	$ 80,183
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 80,000
Operating lease liability		$ 80,000

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Disaggregation of Revenue [Line Items]
NET SALES	$ 608,218	$ 551,832
Recreational Vehicle [Member]
Disaggregation of Revenue [Line Items]
NET SALES	342,436	378,291
Manufactured Housing [Member]
Disaggregation of Revenue [Line Items]
NET SALES	106,019	62,256
Industrial [Member]
Disaggregation of Revenue [Line Items]
NET SALES	68,977	65,695
Marine [Member]
Disaggregation of Revenue [Line Items]
NET SALES	90,786	45,590
Manufacturing [Member]
Disaggregation of Revenue [Line Items]
NET SALES	425,684	435,913
Manufacturing [Member] | Recreational Vehicle [Member]
Disaggregation of Revenue [Line Items]
NET SALES	234,878	293,225
Manufacturing [Member] | Manufactured Housing [Member]
Disaggregation of Revenue [Line Items]
NET SALES	42,203	39,315
Manufacturing [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
NET SALES	60,928	58,677
Manufacturing [Member] | Marine [Member]
Disaggregation of Revenue [Line Items]
NET SALES	87,675	44,696
Distribution [Member]
Disaggregation of Revenue [Line Items]
NET SALES	182,534	115,919
Distribution [Member] | Recreational Vehicle [Member]
Disaggregation of Revenue [Line Items]
NET SALES	107,558	85,066
Distribution [Member] | Manufactured Housing [Member]
Disaggregation of Revenue [Line Items]
NET SALES	63,816	22,941
Distribution [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
NET SALES	8,049	7,018
Distribution [Member] | Marine [Member]
Disaggregation of Revenue [Line Items]
NET SALES	$ 3,111	$ 894

REVENUE RECOGNITION - Schedul_2

REVENUE RECOGNITION - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Receivables, which are included in trade receivables, net	$ 135,202	$ 74,196
Contract liabilities	2,847	$ 2,642
Contract Liabilities
Revenue recognized that was included in the contract liability balance at the beginning of the period	(910)
Increases due to cash received, excluding amounts recognized as revenue during the period	$ 1,115

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018
Intangible Assets [Line Items]
Goodwill and intangible asset impairment charges	$ 0	$ 0
Intangible assets	370,233,000		$ 382,982,000
Amortization of intangible assets	8,989,000	$ 7,127,000
Trademarks [Member]
Intangible Assets [Line Items]
Indefinite lived intangible assets	85,200,000
Amortization of intangible assets	0
Customer Relationships and Noncompete Agreements [Member]
Intangible Assets [Line Items]
Intangible assets	$ 285,000,000
Noncompete Agreements [Member]
Intangible Assets [Line Items]
Intangible assets, weighted average useful life	5 years		4 years 10 months 24 days
Customer Relationships [Member]
Intangible Assets [Line Items]
Intangible assets, weighted average useful life	10 years 1 month 6 days		10 years 1 month 6 days
Minimum [Member] | Customer Relationships and Noncompete Agreements [Member]
Intangible Assets [Line Items]
Intangible assets, weighted average useful life	3 years
Maximum [Member] | Customer Relationships and Noncompete Agreements [Member]
Intangible Assets [Line Items]
Intangible assets, weighted average useful life	19 years

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Raw materials	$ 166,369	$ 164,408
Work in process	13,882	12,829
Finished goods	25,003	28,341
Total manufactured goods, net	197,913	200,224
Materials purchased for resale (distribution products)	68,876	74,914
Total materials purchased for resale (distribution products), net	67,081	72,674
Total inventories	264,994	272,898
Manufactured Goods [Member]
Inventory [Line Items]
Less: reserve for inventory obsolescence	(7,341)	(5,354)
Distributed Goods [Member]
Inventory [Line Items]
Less: reserve for inventory obsolescence	$ (1,795)	$ (2,240)

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Carrying Amount of Goodwill by Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Roll Forward]
Balance - December 31, 2018	$ 281,734
Adjustments to prior year preliminary purchase price allocations	10,379
Balance - March 31, 2019	292,113
Manufacturing [Member]
Goodwill [Roll Forward]
Balance - December 31, 2018	235,345
Adjustments to prior year preliminary purchase price allocations	339
Balance - March 31, 2019	235,684
Distribution [Member]
Goodwill [Roll Forward]
Balance - December 31, 2018	46,389
Adjustments to prior year preliminary purchase price allocations	10,040
Balance - March 31, 2019	$ 56,429

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets, Net, by Major Class (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Intangible Assets [Line Items]
Total other intangible assets, net, excluding accumulated amortization	$ 465,033	$ 468,793
Less: accumulated amortization	(94,800)	(85,811)
Intangible assets, net	370,233	382,982
Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets	$ 361,308	$ 366,228
Intangible assets, weighted average useful life	10 years 1 month 6 days	10 years 1 month 6 days
Noncompete Agreements [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets	$ 17,499	$ 19,159
Intangible assets, weighted average useful life	5 years	4 years 10 months 24 days
Patents [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets	$ 1,048	$ 1,048
Intangible assets, weighted average useful life	9 years	8 years 10 months 24 days
Trademarks [Member]
Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 85,178	$ 82,358

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Intangible Assets [Roll Forward]
Balance - December 31, 2018	$ 382,982
Amortization	(8,989)	$ (7,127)
Adjustments to prior year preliminary purchase price allocations	(3,760)
Balance - March 31, 2019	370,233
Manufacturing [Member]
Intangible Assets [Roll Forward]
Balance - December 31, 2018	304,485
Amortization	(7,715)
Adjustments to prior year preliminary purchase price allocations	(3,451)
Balance - March 31, 2019	293,319
Distribution [Member]
Intangible Assets [Roll Forward]
Balance - December 31, 2018	78,497
Amortization	(1,274)
Adjustments to prior year preliminary purchase price allocations	(309)
Balance - March 31, 2019	$ 76,914

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details)	1 Months Ended							3 Months Ended		12 Months Ended
	Nov. 30, 2018USD ($)facility	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	May 31, 2018USD ($)	Apr. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Feb. 28, 2018USD ($)	Mar. 31, 2019USD ($)acquisition	Apr. 01, 2018USD ($)acquisition	Dec. 31, 2018USD ($)acquisition
Business Acquisition [Line Items]
Number of acquisitions | acquisition								0	4	9
Total sales								$ 608,218,000	$ 551,832,000
Operating Income								35,826,000	41,758,000
Contingent consideration liability								9,400,000
Contingent consideration arrangements maximum payments amount								13,700,000
Payment of contingent consideration from a business acquisition								4,416,000	0
Business acquisitions, net of cash acquired								1,222,000	95,861,000
Decrease intangible asset adjustment								3,760,000
Increase in goodwill adjustment								10,379,000
Pro forma amortization expense									2,900,000
Acquired Entities [Member]
Business Acquisition [Line Items]
Total sales									12,600,000
Operating Income									$ 1,300,000
Metal Moulding Corporation [Member]
Business Acquisition [Line Items]
Contingent consideration liability							$ 1,400,000
Net purchase price							$ 19,900,000
Business acquisitions, net of cash acquired								19,900,000
Contingent consideration performance period							1 year
Aluminum Metals Company [Member]
Business Acquisition [Line Items]
Net purchase price							$ 17,800,000
Indiana Marine Products [Member]
Business Acquisition [Line Items]
Contingent consideration liability						$ 7,900,000		7,900,000
Net purchase price						$ 18,600,000
Business acquisitions, net of cash acquired								18,600,000
Contingent consideration performance period						3 years
Collins & Company [Member]
Business Acquisition [Line Items]
Net purchase price						$ 40,000,000
Decrease intangible asset adjustment								3,600,000
Increase in goodwill adjustment								3,600,000
Dehco Inc [Member]
Business Acquisition [Line Items]
Net purchase price					$ 52,800,000
Decrease intangible asset adjustment								300,000
Increase in goodwill adjustment								300,000
Dowco Inc. [Member]
Business Acquisition [Line Items]
Net purchase price				$ 56,300,000
Marine Accessories Corporation [Member]
Business Acquisition [Line Items]
Net purchase price			$ 57,000,000
Percentage of voting interests acquired			100.00%
Engineered Metals and Composites [Member]
Business Acquisition [Line Items]
Contingent consideration liability		$ 2,500,000
Net purchase price										$ 25,200,000
Business acquisitions, net of cash acquired										$ 24,900,000
Contingent consideration payout term		3 months
Increase (decrease) in initial purchase price								300,000
Increase to accounts payable adjustment								300,000
LaSalle [Member]
Business Acquisition [Line Items]
Net purchase price	$ 51,500,000
Increase in goodwill adjustment								6,800,000
Increase (decrease) in initial purchase price								(1,500,000)
Acquiree composition number of manufacturing and distribution centers | facility	15
Increase to working capital adjustment								1,400,000
Decrease to inventory adjustment								6,700,000
Other adjustments								100,000
Accrued Liabilities [Member]
Business Acquisition [Line Items]
Contingent consideration liability								4,900,000
Other Long-term Liabilities [Member]
Business Acquisition [Line Items]
Contingent consideration liability								$ 4,500,000

ACQUISITIONS - Fair Value of As

ACQUISITIONS - Fair Value of Assets Acquired, Summary (Details) - USD ($) $ in Thousands	1 Months Ended						3 Months Ended		12 Months Ended
	Nov. 30, 2018	Jun. 30, 2018	May 31, 2018	Apr. 30, 2018	Mar. 31, 2018	Feb. 28, 2018	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Goodwill							$ 292,113		$ 281,734
Contingent consideration liability							9,400
Net cash paid for business							1,222	$ 95,861
Metal Moulding Corporation [Member]
Business Acquisition [Line Items]
Trade receivables						$ 1,463
Inventories						2,324
Property, plant and equipment						2,085
Prepaid expenses & other						0
Intangible assets						8,540
Goodwill						7,668
Less: Total liabilities						827
Less: Deferred tax liability, net						0
Total net assets acquired						21,253
Contingent consideration liability						1,400
Net cash paid for business							19,900
Net purchase price						19,900
Aluminum Metals Company [Member]
Business Acquisition [Line Items]
Trade receivables						3,942
Inventories						5,623
Property, plant and equipment						2,321
Prepaid expenses & other						39
Intangible assets						6,550
Goodwill						1,755
Less: Total liabilities						2,463
Less: Deferred tax liability, net						0
Total net assets acquired						17,767
Net purchase price						$ 17,800
Indiana Marine Products [Member]
Business Acquisition [Line Items]
Trade receivables					$ 1,943
Inventories					4,286
Property, plant and equipment					1,463
Prepaid expenses & other					13
Intangible assets					12,920
Goodwill					8,803
Less: Total liabilities					2,930
Less: Deferred tax liability, net					0
Total net assets acquired					26,498
Contingent consideration liability					7,900		7,900
Net cash paid for business							18,600
Net purchase price					18,600
Collins & Company [Member]
Business Acquisition [Line Items]
Trade receivables					2,830
Inventories					9,903
Property, plant and equipment					1,188
Prepaid expenses & other					5
Intangible assets					18,430
Goodwill					10,237
Less: Total liabilities					2,586
Less: Deferred tax liability, net					0
Total net assets acquired					40,007
Net purchase price					$ 40,000
Dehco Inc [Member]
Business Acquisition [Line Items]
Trade receivables				$ 4,771
Inventories				16,923
Property, plant and equipment				13,755
Prepaid expenses & other				208
Intangible assets				13,950
Goodwill				6,580
Less: Total liabilities				3,392
Less: Deferred tax liability, net				0
Total net assets acquired				52,795
Net purchase price				$ 52,800
Dowco Inc. [Member]
Business Acquisition [Line Items]
Trade receivables			$ 4,053
Inventories			4,498
Property, plant and equipment			5,910
Prepaid expenses & other			1,240
Intangible assets			34,379
Goodwill			10,444
Less: Total liabilities			4,178
Less: Deferred tax liability, net			0
Total net assets acquired			56,346
Net purchase price			$ 56,300
Marine Accessories Corporation [Member]
Business Acquisition [Line Items]
Trade receivables		$ 3,054
Inventories		6,815
Property, plant and equipment		8,000
Prepaid expenses & other		284
Intangible assets		32,733
Goodwill		19,264
Less: Total liabilities		4,290
Less: Deferred tax liability, net		8,839
Total net assets acquired		57,021
Net purchase price		$ 57,000
Engineered Metals and Composites [Member]
Business Acquisition [Line Items]
Trade receivables										$ 634
Inventories										1,576
Property, plant and equipment										2,500
Prepaid expenses & other										0
Intangible assets										15,750
Goodwill										8,074
Less: Total liabilities										1,115
Less: Deferred tax liability, net										0
Total net assets acquired										27,419
Contingent consideration liability										$ 2,500
Net cash paid for business									24,900
Net purchase price									25,200
Increase (decrease) in initial purchase price							(300)
LaSalle [Member]
Business Acquisition [Line Items]
Trade receivables	$ 8,888
Inventories	39,318
Property, plant and equipment	8,500
Prepaid expenses & other	6,548
Intangible assets	5,885
Goodwill	10,497
Less: Total liabilities	28,128
Less: Deferred tax liability, net	41
Total net assets acquired	51,467
Net purchase price	$ 51,500
Increase (decrease) in initial purchase price							$ 1,500
Other [Member]
Business Acquisition [Line Items]
Trade receivables									473
Inventories									329
Property, plant and equipment									300
Prepaid expenses & other									13
Intangible assets									1,667
Goodwill									899
Less: Total liabilities									184
Total net assets acquired									3,497
Acquired Entities [Member]
Business Acquisition [Line Items]
Trade receivables									32,051
Inventories									91,595
Property, plant and equipment									46,022
Prepaid expenses & other									8,350
Intangible assets									150,804
Goodwill									84,221
Less: Total liabilities									50,093
Less: Deferred tax liability, net									8,880
Total net assets acquired									$ 354,070

ACQUISITIONS - Pro Forma Inform

ACQUISITIONS - Pro Forma Information Related to Acquisitions (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 01, 2018USD ($)$ / shares
Business Combinations [Abstract]
Revenue | $	$ 690,482
Net income | $	$ 34,375
Basic net income per common share (in dollars per share) | $ / shares	$ 1.39
Diluted net income per common share (in dollars per share) | $ / shares	$ 1.37

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense	$ 3.9	$ 3.7
Shares approved (in shares)	356,017		181,808
Granted shares (in shares)		164,988
Unrecognized compensation cost	$ 31.3
Weighted average recognition period	23 months 15 days

NET INCOME PER COMMON SHARE - I

NET INCOME PER COMMON SHARE - Income Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Earnings Per Share [Abstract]
Net income for basic and diluted per share calculation	$ 20,849	$ 30,068
Weighted average shares outstanding - basic (in shares)	23,039	24,740
Effect of potentially dilutive securities (in shares)	209	370
Weighted average common shares outstanding - diluted (in shares)	23,248	25,110
Basic net income per common share (in dollars per share)	$ 0.90	$ 1.22
Diluted net income per common share (in dollars per share)	$ 0.90	$ 1.20

DEBT - Schedule of Long-term De

DEBT - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total long-term debt	$ 652,500	$ 661,082
Less: Convertible Notes debt discount	(28,454)	(30,125)
Less: current maturities of long-term debt	(10,000)	(8,750)
Less: net deferred financing costs related to Term Loan	(447)	(456)
Total long-term debt, less current maturities, net	613,599	621,751
Line of Credit [Member]
Debt Instrument [Line Items]
Total long-term debt	385,000	392,332
Term Loan [Member]
Debt Instrument [Line Items]
Total long-term debt	95,000	96,250
Convertible Debt [Member]
Debt Instrument [Line Items]
Total long-term debt	$ 172,500	$ 172,500

DEBT - Narrative (Details)

DEBT - Narrative (Details)	Jun. 05, 2018USD ($)	Jan. 31, 2018USD ($)dayshares$ / shares	Mar. 31, 2019USD ($)	Apr. 01, 2018USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)
Line of Credit Facility [Line Items]
Outstanding debt			$ 652,500,000		$ 661,082,000
Debt instrument, covenant, maximum leverage ratio			3
Debt instrument, covenant, minimum interest coverage ratio			1.50
Interest paid			$ 6,500,000	$ 2,900,000
Debt discount			28,454,000		30,125,000
Proceeds from convertible notes offering			$ 0	$ 172,500,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage			0.25%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term line of credit			$ 385,000,000		$ 388,000,000
Debt instrument, basis spread on variable rate			2.00%		2.00%
Debt instrument, effective interest rate			4.50%		4.56%
Base Rate [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term line of credit					$ 4,300,000
Prime Rate [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate			1.00%		1.00%
Debt instrument, effective interest rate			6.50%		6.50%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Outstanding debt			$ 385,000,000		$ 392,332,000
Term Loan [Member]
Line of Credit Facility [Line Items]
Outstanding debt			95,000,000		96,250,000
Same Day Advance Swing Line [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000
Sub Facility, Standby Letters of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	10,000,000
Convertible Debt [Member]
Line of Credit Facility [Line Items]
Outstanding debt			$ 172,500,000		$ 172,500,000
2018 Credit Facility [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	800,000,000
2018 Credit Facility [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount	100,000,000
Convertible Senior Notes Due 2023 [Member] | Convertible Debt [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount		$ 172,500,000
Debt instrument, effective interest rate			5.25%		5.25%
Stated interest rate		1.00%
Debt discount		$ 36,000,000	$ 28,500,000
Debt discount attributable to difference in future cash flows and principal amount		31,900,000
Debt discount attributable to issuance cost		4,100,000
Proceeds from convertible notes offering		$ 167,500,000
Debt conversion ratio		0.0113785
Debt conversion shares issued if converted (in shares) | shares		1,962,790
Debt conversion price (in dollars per share) | $ / shares		$ 87.89
June 30, 2018 To March 31, 2019 [Member] | 2018 Credit Facility [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Debt instrument, periodic payment	1,250,000
June 30, 2019 To March 31, 2021 [Member] | 2018 Credit Facility [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Debt instrument, periodic payment	2,500,000
June 30, 2021 Thereafter [Member] | 2018 Credit Facility [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Debt instrument, periodic payment	$ 3,750,000
Debt Instrument, Redemption, Period One [Member] | Convertible Senior Notes Due 2023 [Member] | Convertible Debt [Member]
Line of Credit Facility [Line Items]
Convertible debt trading day threshold | day		20
Convertible debt consecutive trading day threshold | day		30
Convertible debt stock price trigger		130.00%
Debt Instrument, Redemption, Period Two [Member] | Convertible Senior Notes Due 2023 [Member] | Convertible Debt [Member]
Line of Credit Facility [Line Items]
Convertible debt trading day threshold | day		5
Convertible debt consecutive trading day threshold | day		5
Convertible debt stock price trigger		98.00%
Interest Rate Swap [Member]
Line of Credit Facility [Line Items]
Derivative amount						$ 200,000,000
Derivative interest rate						2.91%
Derivative interest rate cap						4.91%

DEBT - Schedule of Financial Ra

DEBT - Schedule of Financial Ratio Covenants (Details)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Consolidated total leverage ratio, required	3
Consolidated leverage ratio, actual	246.00%
Consolidated fixed charge coverage ratio, required	1.50
Consolidated fixed charge coverage ratio, actual	287.00%

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)	1 Months Ended	3 Months Ended
	Jan. 31, 2018USD ($)shares$ / shares	Mar. 31, 2019USD ($)	Apr. 01, 2018USD ($)	Sep. 30, 2018USD ($)	Jan. 01, 2018shares
Derivative [Line Items]
Proceeds from sale of warrants	$ 18,100,000	$ 0	$ 18,147,000
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative amount				$ 200,000,000
Convertible Senior Notes Due 2023 [Member] | Convertible Debt [Member]
Derivative [Line Items]
Debt conversion shares issued if converted (in shares) | shares	1,962,790
Debt conversion price (in dollars per share) | $ / shares	$ 87.89
Shares issued under warrant (in shares) | shares					1,962,790
Initial warrant strike price (in dollars per share) | $ / shares	$ 113.93
Designated as Hedging Instrument [Member] | Convertible Debt Contract [Member]
Derivative [Line Items]
Payments for derivatives	$ 31,500,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative amount		$ 200,000,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Fair value of derivative liabilities	$ 4,062	$ 2,652

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Gains and Losses Recognized in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Unrealized Loss Recognized in AOCI	$ 3,027	$ 0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 408,754
Other comprehensive income (loss) (net of tax of $356, $0 and $0)	(1,027)	$ 28
Ending Balance	429,089
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(2,680)	66
Ending Balance	(3,707)	94
Cash Flow Hedges [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(1,973)
Other comprehensive income (loss) (net of tax of $356, $0 and $0)	(1,054)
Ending Balance	(3,027)
Other comprehensive income (loss), tax	356
Defined Benefit Pension [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(675)	66
Other comprehensive income (loss) (net of tax of $356, $0 and $0)	0	0
Ending Balance	(675)	66
Other comprehensive income (loss), tax	0	0
Foreign Currency Items [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(32)	0
Other comprehensive income (loss) (net of tax of $356, $0 and $0)	27	28
Ending Balance	(5)	28
Other comprehensive income (loss), tax	$ 0	$ 0

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2018	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Remaining lease term		3 years 10 months 9 days
Operating lease not yet commenced		$ 1.5
Operating lease expense	$ 6
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term		1 year
Operating lease not yet commenced term		4 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term		10 years
Operating lease not yet commenced term		7 years

LEASES - Lease Expense, Supplem

LEASES - Lease Expense, Supplemental Cash Flow and Other Lease Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 7,787
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	6,724
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 577

LEASES - Lease Assets and Liabi

LEASES - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Operating lease right-of-use assets	$ 79,868	$ 0
Liabilities
Operating lease liabilities, current portion	25,874	$ 0
Long-term operating lease liabilities	54,309
Total lease liabilities	$ 80,183
Weighted average remaining lease term, operating leases (in years)	3 years 10 months 9 days
Weighted average discount rate, operating leases	4.01%

LEASES - Operating Lease Liabil

LEASES - Operating Lease Liability Maturity (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 21,884
2020	24,314
2021	17,542
2022	10,910
2023	6,864
Thereafter	5,211
Total lease payments	86,725
Less imputed interest	(6,542)
Total lease liabilities	$ 80,183

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 29,345
2020	23,344
2021	16,165
2022	9,602
2023	5,357
Thereafter	4,883
Total	$ 88,696

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Millions	Mar. 31, 2019USD ($)
Fair Value, Inputs, Level 2 [Member] | Convertible Debt [Member] | Convertible Senior Notes Due 2023 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of convertible debt	$ 154.8

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Mar. 31, 2019	Apr. 01, 2018
Income Tax Contingency [Line Items]
Effective income tax rate			22.30%	19.60%
Excess tax benefit tax			$ 0.8	$ 2.1
Income taxes paid		$ 3.7	$ 1.5
Subsequent Event [Member]
Income Tax Contingency [Line Items]
Income taxes paid	$ 10.2

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details) - Sales Revenue [Member] - Product Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Manufacturing [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	70.00%	79.00%
Distribution [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	30.00%	21.00%

SEGMENT INFORMATION - Sales and

SEGMENT INFORMATION - Sales and Operating Income of Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Segment Reporting Information [Line Items]
Total sales	$ 608,218	$ 551,832
Operating income	35,826	41,758
Intersegment sales [Member]
Segment Reporting Information [Line Items]
Total sales	8,885	10,038
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	617,103	561,870
Operating income	52,728	60,213
Manufacturing [Member]
Segment Reporting Information [Line Items]
Total sales	425,684	435,913
Manufacturing [Member] | Intersegment sales [Member]
Segment Reporting Information [Line Items]
Total sales	7,720	9,369
Manufacturing [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	433,404	445,282
Operating income	44,437	52,923
Distribution [Member]
Segment Reporting Information [Line Items]
Total sales	182,534	115,919
Distribution [Member] | Intersegment sales [Member]
Segment Reporting Information [Line Items]
Total sales	1,165	669
Distribution [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales	183,699	116,588
Operating income	$ 8,291	$ 7,290

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Segment Operating Income to Consolidated Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Segment Reporting Information [Line Items]
Operating Income	$ 35,826	$ 41,758
Unallocated corporate expenses	(70,722)	(55,996)
Amortization	(8,989)	(7,127)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income	52,728	60,213
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Unallocated corporate expenses	(7,913)	(11,328)
Amortization	$ (8,989)	$ (7,127)

STOCK REPURCHASE PROGRAMS - Nar

STOCK REPURCHASE PROGRAMS - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018
Equity [Abstract]
Authorized share repurchase program amount			$ 50,000,000
Additional authorized share repurchase program amount			$ 87,900,000
Remaining authorized shares to be purchased amount	$ 30,300,000
Shares repurchased (in shares)	0	221,095
Average cost per share repurchased (in dollars per share)		$ 60.93
Shares repurchased amount		$ 13,500,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)employee
Board Member [Member]
Related Party Transaction [Line Items]
Number of independent board members with transactions with the Company | employee	2
Welch Packaging Group [Member]
Related Party Transaction [Line Items]
Purchases from related parties	$ 0.2
DNA Enterprise Inc [Member]
Related Party Transaction [Line Items]
Revenue from related parties	$ 0.2