Annual report [Section 13 and 15(d), not S-K Item 405]

Segments Information

v3.25.0.1
Segments Information
 12 Months Ended
Dec. 28, 2024
Segment Reporting [Abstract]  
Segments Information Segments Information
The Company operates and reports its results through two geographic-based reportable segments: Janus North America and Janus International, in accordance with ASC Topic 280, Segment Reporting.
•The Janus International reportable segment is comprised of JIE with its production and sales located primarily in U.K., Australia, Poland and France.
•The Janus North America segment is comprised of all the other entities including Janus Core, BETCO, NOKE, ASTA, ACT, Janus Door, Bloom Door, Steel Door Depot, Janus Canada and Terminal Door.
This segment structure reflects how the Company’s Chief Executive Officer (“CEO”), who has been identified as the Chief Operating Decision Maker (“CODM”), evaluates performance and allocates resources. Key business strategies, strategic objectives, and competitive decisions are determined at the geographical level (North America and International) rather than by product lines, functional divisions, or business units. The CEO primarily assesses segment performance and allocates resources—including personnel, property, and financial or capital resources—using Gross Profit and Adjusted EBITDA. Budget-to-actual variances are reviewed monthly to assess performance and allocate resources.
Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation expense, amortization, and other non-operational, non-recurring items. The Company uses Adjusted EBITDA, a non-GAAP financial measure, to assess operating performance, develop future operating plans, and make strategic decisions related to operating expenses and resource allocation, among others.
Summarized financial information for the Company’s segments is shown in the following tables:

(dollar amounts in millions) Janus North America Janus International Intersegment eliminations Total
Year ended December 28, 2024
Revenues $ 892.6  $ 73.6  $ (2.4) $ 963.8 
Cost of revenues 512.8  55.6  (2.4) 566.0 
Gross profit $ 379.8  $ 18.0  $ 397.8 
Other segment items (1)
(173.5) (15.8) (189.3)
Adjusted EBITDA $ 206.3  2.2 $ 208.5 


(dollar amounts in millions) Janus North America Janus International Intersegment eliminations Total
Year ended December 30, 2023
Revenues
 $ 985.7  $ 82.3  $ (1.6) $ 1,066.4 
Cost of revenues
 560.2  58.1  (1.6) 616.7 
Gross profit $ 425.5  $ 24.2  $ 449.7 
Other segment items (1)
(149.7) (14.4) (164.1)
Adjusted EBITDA
 $ 275.8  9.8 $ 285.6 

(dollar amounts in millions) Janus North America Janus International Intersegment eliminations Total
Year ended December 31, 2022
Revenues
 $ 945.8  $ 75.5  $ (1.8) $ 1,019.5 
Cost of revenues 600.5  55.9  (1.8) 654.6 
Gross profit $ 345.3  $ 19.6  $ 364.9 
Other segment items (1)
(125.1) (12.9) (138.0)
Adjusted EBITDA
 $ 220.2  6.7 $ 226.9 
(1) Other segment items included in Adjusted EBITDA primarily include selling and marketing expense, general and administrative expense, and depreciation and amortization expense.
(dollar amounts in millions)
 Year Ended
December 28, 2024 December 30, 2023 December 31, 2022
Consolidated Reconciliation
Net Income
$ 70.4  $ 135.7  $ 107.7 
Interest Expense
 49.6  60.0  42.0 
Income Taxes
 29.9  47.1  37.6 
Depreciation and Amortization
44.0  39.1  37.6 
Restructuring & other Adjusted EBITDA adjustments
14.6  3.7  2.0 
Adjusted EBITDA $ 208.5  $ 285.6  $ 226.9 

(dollar amounts in millions)
 Year Ended
December 28, 2024 December 30, 2023 December 31, 2022
Depreciation expense - cost of revenues
Janus North America $ 6.9  $ 6.3  $ 5.2 
Janus International 0.9  0.6  0.5 
Consolidated depreciation expense - cost of revenues $ 7.8  $ 6.9  $ 5.7 
Depreciation expense - operating expenses
Janus North America $ 3.8  $ 2.0  $ 1.9 
Janus International 0.4  0.4  0.3 
Consolidated depreciation expense - operating expenses $ 4.2  $ 2.4  $ 2.2 
Amortization of intangible assets
Janus North America $ 30.5  $ 28.4  $ 28.4 
Janus International 1.5  1.4  1.3 
Consolidated amortization expense $ 32.0  $ 29.8  $ 29.7 
Purchases of property, plant and equipment
Janus North America $ 17.2  $ 15.4  $ 7.7 
Janus International 3.2  3.6  1.1 
Consolidated purchases of property, plant and equipment $ 20.4  $ 19.0  $ 8.8 
December 28, 2024 December 30, 2023
Identifiable assets
Janus North America $ 1,234.6  $ 1,280.0 
Janus International 66.7  70.0 
Consolidated assets
 $ 1,301.3  $ 1,350.0 
Property, plant and equipment, net
Janus North America $ 49.0  $ 46.3 
Janus International 7.8  6.1 
Consolidated property, plant and equipment, net $ 56.8  $ 52.4 
December 28, 2024 December 30, 2023
Long-lived assets(1)
United States $ 459.9  $ 449.4 
Other
 30.1  29.2 
Total long-lived assets
$ 490.0  $ 478.6 
(1)The Company’s long-lived assets consist primarily of intangible assets, net, right-of-use assets, net, and property, plant and equipment, net.


December 28, 2024 December 30, 2023 December 31, 2022
Revenues by country
United States $ 885.6  $ 979.4  $ 939.9 
Other 80.6  88.6  81.4 
Eliminations (2.4) (1.6) (1.8)
Total revenues
 $ 963.8  $ 1,066.4  $ 1,019.5 
(dollar amounts in millions) Janus North America Janus International Intersegment eliminations Total
Year ended December 28, 2024
Product revenues $ 738.6  $ 43.2  $ (2.4) $ 779.4 
Service revenues 154.0  30.4  —  $ 184.4 
Total revenues $ 892.6  $ 73.6  $ 963.8 
Year ended December 30, 2023
Product revenues $ 865.1  $ 46.3  $ (1.6) $ 909.8 
Service revenues 120.6  36.0  $ 156.6 
Total revenues $ 985.7  $ 82.3  $ 1,066.4 
Year ended December 31, 2022
Product revenues $ 849.3  $ 43.4  $ (1.8) $ 890.9 
Service revenues 96.5  32.1  $ 128.6 
Total revenues $ 945.8  $ 75.5  $ 1,019.5