Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.2
Segment Information
6 Months Ended
Jun. 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 June 30, 

2023

2022

2023

2022

Net Sales

Operating Profit (b)

Operations by segment (a):

Installation

$

809,055

$

748,968

$

172,278

$

139,919

Specialty Distribution

574,488

587,791

85,980

86,749

Intercompany eliminations

(66,281)

(62,474)

(11,198)

(10,435)

Total

$

1,317,262

$

1,274,285

247,060

216,233

General corporate expense, net (c)

(9,957)

(9,012)

Operating profit, as reported

237,103

207,221

Other expense, net

(13,953)

(13,689)

Income before income taxes

$

223,150

$

193,532

Six Months Ended June 30, 

2023

2022

2023

2022

Net Sales

Operating Profit (b)

Operations by segment (a):

Installation

$

1,576,145

$

1,425,661

$

319,176

$

252,598

Specialty Distribution

1,132,862

1,131,653

159,313

157,170

Intercompany eliminations

(126,507)

(114,111)

(21,169)

(19,144)

Total

$

2,582,500

$

2,443,203

457,320

390,624

General corporate expense, net (c)

(20,786)

(19,449)

Operating profit, as reported

436,534

371,175

Other expense, net

(30,069)

(24,969)

Income before income taxes

$

406,465

$

346,206

(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.