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Segment Data
 9 Months Ended
Aug. 01, 2014
Segment Data  
Segment Data

Segment Data

 

The presentation of segment information reflects the manner in which management organizes segments for making operating decisions and assessing performance. On this basis, the company has determined it has three reportable business segments: Professional, Residential, and Distribution. The Distribution segment, which consists of company-owned domestic distributorships, has been combined with the company’s corporate activities and elimination of intersegment revenues and expenses that is shown as “Other” in the following tables due to the insignificance of the segment.

 

The following table shows the summarized financial information concerning the company’s reportable segments:

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Three months ended August 1, 2014

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$
384,678

 

$
175,717

 

$
7,145

 

$
567,540

 

Intersegment gross sales

 
11,964

 
128

 
(12,092

)

—

 

Earnings (loss) before income taxes

 
74,835

 
18,698

 
(22,735

)
70,798

 

 

Three months ended August 2, 2013

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$
343,866

 

$
155,452

 

$
10,600

 

$
509,918

 

Intersegment gross sales

 
7,628

 
149

 
(7,777

)

—

 

Earnings (loss) before income taxes

 
60,508

 
15,070

 
(17,925

)
57,653

 

 

Nine months ended August 1, 2014

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$
1,208,707

 

$
533,664

 

$
6,180

 

$
1,758,551

 

Intersegment gross sales

 
31,878

 
378

 
(32,256

)

—

 

Earnings (loss) before income taxes

 
244,665

 
60,654

 
(66,650

)
238,669

 

Total assets

 
616,305

 
186,079

 
325,443

 
1,127,827

 

 

Nine months ended August 2, 2013

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$
1,169,446

 

$
477,789

 

$
11,830

 

$
1,659,065

 

Intersegment gross sales

 
34,401

 
354

 
(34,755

)

—

 

Earnings (loss) before income taxes

 
233,521

 
51,903

 
(68,056

)
217,368

 

Total assets

 
573,089

 
177,495

 
280,546

 
1,031,130

 

 

The following table summarizes the components of the loss before income taxes included in “Other” shown above:

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

August 1,

 

August 2,

 

August 1,

 

August 2,

 

(Dollars in thousands)

 

2014

 

2013

 

2014

 

2013

 

Corporate expenses

 

$
(22,101

)

$
(18,985

)

$
(62,448

)

$
(61,304

)

Interest expense, net

 
(3,629

)
(3,909

)
(11,065

)
(12,307

)

Other

 
2,995

 
4,969

 
6,863

 
5,555

 

Total

 

$
(22,735)

 

$
(17,925

)

$
(66,650

)

$
(68,056

)