Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.5.0.2
Segment Information (Tables)
9 Months Ended
Sep. 30, 2016
Segment Information  
Schedule of net sales and operating results by segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

    

2016

    

2015

    

2016

    

2015

 

 

Net Sales

 

Operating Profit (2)

Our operations by segment were (1):

 

 

 

 

 

 

 

 

 

 

 

 

Installation

 

$

300,005

 

$

279,809

 

$

32,196

 

$

20,678

Distribution

 

 

174,123

 

 

170,881

 

 

15,536

 

 

16,909

Intercompany eliminations and other adjustments (3)

 

 

(21,026)

 

 

(22,802)

 

 

(3,665)

 

 

(3,001)

Total

 

$

453,102

 

$

427,888

 

 

44,067

 

 

34,586

General corporate expense, net (4)

 

 

 

 

 

 

 

 

(4,966)

 

 

(4,395)

Operating profit, as reported

 

 

 

 

 

 

 

 

39,101

 

 

30,191

Other expense, net

 

 

 

 

 

 

 

 

(1,206)

 

 

(1,566)

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

37,895

 

$

28,625

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 

 

 

2016

    

2015

    

2016

    

2015

 

 

Net Sales

 

Operating Profit (2)

Our operations by segment were (1):

 

 

 

 

 

 

 

 

 

 

 

 

Installation

 

$

860,924

 

$

778,469

 

$

68,499

 

$

26,713

Distribution

 

 

499,268

 

 

476,333

 

 

43,416

 

 

40,183

Intercompany eliminations and other adjustments (3)

 

 

(61,477)

 

 

(64,693)

 

 

(10,540)

 

 

(8,340)

Total

 

$

1,298,715

 

$

1,190,109

 

 

101,375

 

 

58,556

General corporate expense, net (4)

 

 

 

 

 

 

 

 

(15,716)

 

 

(18,022)

Operating profit, as reported

 

 

 

 

 

 

 

 

85,659

 

 

40,534

Other expense, net

 

 

 

 

 

 

 

 

(4,114)

 

 

(7,879)

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

81,545

 

$

32,655

(1)

All of our operations are located in the United States.

 

(2)

Segment operating profit for the three and nine months ended September 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 nine months ended September 30, 2015, includes an estimate of general corporate expense calculated based on a percentage of sales.  For the three and nine months ended September 30, 2015, the $1.3 million and $5.1 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 $3.7 million and $4.2 for the three months ended September 30, 2016 and 2015, respectively, and $10.5 million and $11.6 million for the nine months ended September 30, 2016 and 2015, respectively.  Other adjustments primarily include differences between estimated and actual corporate costs allocated to the segments for the three and nine months ended September 30, 2015, as noted in footnote (2) above.

 

(4)

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.