Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.3
Segment Information
9 Months Ended
Sep. 30, 2023
Segment Information  
Segment Information

7.  SEGMENT INFORMATION

The following tables set forth our net sales and operating results by segment, in thousands:

Three Months Ended September 30, 

2023

2022

2023

2022

Net Sales

Operating Profit (b)

Operations by segment (a):

Installation

$

821,673

$

783,056

$

175,218

$

154,236

Specialty Distribution

571,009

583,543

88,269

88,364

Intercompany eliminations

(66,562)

(65,601)

(11,501)

(10,806)

Total

$

1,326,120

$

1,300,998

251,986

231,794

General corporate expense, net (c)

(14,494)

(8,920)

Operating profit, as reported

237,492

222,874

Other expense, net

(12,815)

(14,864)

Income before income taxes

$

224,677

$

208,010

Nine Months Ended September 30, 

2023

2022

2023

2022

Net Sales

Operating Profit (b)

Operations by segment (a):

Installation

$

2,397,818

$

2,208,717

$

494,394

$

406,835

Specialty Distribution

1,703,871

1,715,196

247,583

245,534

Intercompany eliminations

(193,069)

(179,712)

(32,672)

(29,949)

Total

$

3,908,620

$

3,744,201

709,305

622,420

General corporate expense, net (c)

(35,280)

(28,371)

Operating profit, as reported

674,025

594,049

Other expense, net

(42,885)

(39,833)

Income before income taxes

$

631,140

$

554,216

(a) All of our operations are located primarily in the U.S. and to a lesser extent Canada.
(b) Segment operating profit 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).
(c) General corporate expense, net includes expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs.