Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.5.0.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 2016
Segment Information  
Schedule of information by segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 

 

    

2016

    

2015

    

2016

    

2015

 

 

Net Sales

 

Operating Profit (2)

Our operations by segment were (1):

 

 

 

 

 

 

 

 

 

 

 

 

Installation

 

$

288,042

 

$

265,296

 

$

22,797

 

$

7,067

Distribution

 

 

164,257

 

 

160,841

 

 

13,547

 

 

11,897

Intercompany eliminations and other adjustments (3)

 

 

(20,710)

 

 

(22,376)

 

 

(3,524)

 

 

(1,750)

Total

 

$

431,589

 

$

403,761

 

 

32,820

 

 

17,214

General corporate expense, net (4)

 

 

 

 

 

 

 

 

(6,030)

 

 

(5,724)

Operating profit, as reported

 

 

 

 

 

 

 

 

26,790

 

 

11,490

Other expense, net

 

 

 

 

 

 

 

 

(1,310)

 

 

(3,160)

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

25,480

 

$

8,330

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 

 

 

2016

    

2015

    

2016

    

2015

 

 

Net Sales

 

Operating Profit (2)

Our operations by segment were (1):

 

 

 

 

 

 

 

 

 

 

 

 

Installation

 

$

560,920

 

$

498,659

 

$

36,303

 

$

6,035

Distribution

 

 

325,145

 

 

305,452

 

 

27,880

 

 

23,274

Intercompany eliminations and other adjustments (3)

 

 

(40,452)

 

 

(41,890)

 

 

(6,876)

 

 

(5,339)

Total

 

$

845,613

 

$

762,221

 

 

57,307

 

 

23,970

General corporate expense, net (4)

 

 

 

 

 

 

 

 

(10,750)

 

 

(13,627)

Operating profit, as reported

 

 

 

 

 

 

 

 

46,557

 

 

10,343

Other expense, net

 

 

 

 

 

 

 

 

(2,908)

 

 

(6,313)

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

43,649

 

$

4,030

(1)

All of our operations are located in the United States.

 

(2)

Segment operating profit for the three and six months ended June 30, 2016, includes an allocation of general corporate expenses attributable to the operating segments which is based on direct benefit or usage (such as salaries of corporate employees who directly support the segment).  Segment operating profit for the three and six months ended June 30, 2015, includes an estimate of general corporate expense calculated based on a percentage of sales.  For the three and six months ended June 30, 2015, the $3.4 million and $3.8 million differences, respectively, between estimated expense and actual corporate expense is recorded in intercompany eliminations and other adjustments.

 

(3)

Intercompany eliminations include the elimination of intercompany profit of $3.5 million and $4.0 for the three months ended June 30, 2016 and 2015, respectively, and $6.9 million and $7.4 million for the six months ended June 30, 2016 and 2015, respectively.  Other adjustments primarily include differences between estimated and actual corporate costs allocated to the segments for the three and six months ended June 30, 2015, as noted in footnote (2) above.

 

General corporate expense, net included expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs.