Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.8.0.1
Segment Information (Tables)
9 Months Ended
Sep. 30, 2017
Segment Information  
Schedule of net sales and operating results by segment

6. SEGMENT INFORMATION

 

The following table sets forth our net sales and operating results by segment, in thousands:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

 

2017

 

2016

 

2017

 

2016

 

 

Net Sales

 

Operating Profit (b)

Our operations by segment were (a):

 

 

 

 

 

 

 

 

 

 

 

 

Installation

 

$

333,238

 

$

300,005

 

$

40,862

 

$

32,196

Distribution

 

 

181,146

 

 

174,123

 

 

18,300

 

 

15,536

Intercompany eliminations

 

 

(25,340)

 

 

(21,026)

 

 

(4,413)

 

 

(3,665)

Total

 

$

489,044

 

$

453,102

 

 

54,749

 

 

44,067

General corporate expense, net (c)

 

 

 

 

 

 

 

 

(5,187)

 

 

(4,966)

Operating profit, as reported

 

 

 

 

 

 

 

 

49,562

 

 

39,101

Other expense, net

 

 

 

 

 

 

 

 

(2,452)

 

 

(1,206)

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

47,110

 

$

37,895

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 

 

 

2017

 

2016

 

2017

 

2016

 

 

Net Sales

 

Operating Profit (b)

Our operations by segment were (a):

 

 

 

 

 

 

 

 

 

 

 

 

Installation (exclusive of significant legal settlement, shown separately below)

 

$

945,109

 

$

860,924

 

$

96,985

 

$

68,499

Significant legal settlement (Installation segment) (d)

 

 

 —

 

 

 —

 

 

(30,000)

 

 

 —

Distribution

 

 

526,452

 

 

499,268

 

 

50,806

 

 

43,416

Intercompany eliminations

 

 

(66,696)

 

 

(61,477)

 

 

(11,393)

 

 

(10,540)

Total

 

$

1,404,865

 

$

1,298,715

 

 

106,398

 

 

101,375

General corporate expense, net (c)

 

 

 

 

 

 

 

 

(19,503)

 

 

(15,716)

Operating profit, as reported

 

 

 

 

 

 

 

 

86,895

 

 

85,659

Other expense, net

 

 

 

 

 

 

 

 

(6,614)

 

 

(4,114)

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

80,281

 

$

81,545


(a)

All of our operations are located in the United States.

(b)

Segment operating profit for the three and nine months ended September 30, 2017 and 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).

(c)

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

(d)

Significant legal settlement expense of $30 million incurred for the nine months ended September 30, 2017, related to the settlement agreement with Owens Corning.  For more information see Note 7 – Other Commitments and Contingencies.