XML 56 R40.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Financial Information for the Company's Reportable Segments | Financial information for the Company's segments and reconciliations of that information to the consolidated financial statements is presented below.
| Year Ended December 31,
(in thousands) | 2023 |  | 2022
Revenue |  |  |
Lawson(1) | $ | 468,711 |  |  | $ | 324,783 |
TestEquity | 641,768 |  |  | 392,358 |
Gexpro Services | 405,733 |  |  | 385,326 |
All Other(2) | 55,890 |  |  | 48,955 |
Intersegment revenue elimination | (1,700) |  |  | — |
Total revenue | $ | 1,570,402 |  |  | $ | 1,151,422 |
Operating income (loss) |  |  |
Lawson(1) | $ | 32,498 |  |  | $ | 6,536 |
TestEquity | (16,465) |  |  | 11,375 |
Gexpro Services | 27,000 |  |  | 21,291 |
All Other(2) | (42) |  |  | 2,584 |
Total operating income (loss) | $ | 42,991 |  |  | $ | 41,786 |
(1) Includes the operating results of Lawson only subsequent to the Merger Date of April 1, 2022 and not Lawson operating results prior to the Mergers. (2) Includes the operating results of All Other only subsequent to the Merger Date of April 1, 2022 and not All Other operating results prior to the Mergers. Segment revenue includes revenue from sales to external customers and intersegment revenue from sales transactions between segments. The Company accounts for intersegment sales similar to third party transactions that are conducted on an arm's-length basis and reflect current market prices. Intersegment revenue is eliminated in consolidation and is not included in consolidated revenue on the financial statements. Segment revenue and the elimination of intersegment revenue was as follows:
(in thousands) |  | Lawson |  | TestEquity |  | Gexpro Services |  | All Other |  | Elimination |  | Total
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 468,379 |  |  | $ | 641,643 |  |  | $ | 404,490 |  |  | $ | 55,890 |  |  | $ | — |  |  | $ | 1,570,402 |
Intersegment revenue |  | 332 |  |  | 125 |  |  | 1,243 |  |  | — |  |  | (1,700) |  |  | — |
Revenue |  | $ | 468,711 |  |  | $ | 641,768 |  |  | $ | 405,733 |  |  | $ | 55,890 |  |  | $ | (1,700) |  |  | $ | 1,570,402 |
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 324,783 |  |  | $ | 392,358 |  |  | $ | 385,326 |  |  | $ | 48,955 |  |  | $ | — |  |  | $ | 1,151,422 |
Intersegment revenue |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Revenue |  | $ | 324,783 |  |  | $ | 392,358 |  |  | $ | 385,326 |  |  | $ | 48,955 |  |  | $ | — |  |  | $ | 1,151,422 |
Long-lived assets, which includes property, plant and equipment, rental equipment, goodwill, intangibles, right of use operating lease assets, and other assets, were as follows:
| December 31,
(in thousands) | 2023 |  | 2022
Long-lived assets by segment |  |  |
Lawson | $ | 312,136 |  |  | $ | 324,732 |
TestEquity | 378,348 |  |  | 201,919 |
Gexpro Services | 141,797 |  |  | 152,720 |
All Other | 42,132 |  |  | 40,696 |
Total | $ | 874,413 |  |  | $ | 720,067 |
Long-lived assets by geographic area |  |  |
United States | $ | 765,160 |  |  | $ | 580,870 |
Canada | 72,054 |  |  | 70,561 |
Europe | 32,997 |  |  | 67,957 |
Pacific Rim | 417 |  |  | — |
Latin America | 3,785 |  |  | 679 |
Total | $ | 874,413 |  |  | $ | 720,067 |
Refer to Note 4 – Revenue Recognition for disaggregated revenue by geographic area. Capital expenditures and depreciation and amortization by segment were as follows:
| Year Ended December 31,
(in thousands) | 2023 |  | 2022
Capital expenditures |  |  |
Lawson(1) | $ | 6,626 |  |  | $ | 3,737 |
TestEquity | 2,955 |  |  | 250 |
Gexpro Services | 5,053 |  |  | 3,809 |
All Other(2) | 703 |  |  | 511 |
Total | $ | 15,337 |  |  | $ | 8,307 |
Depreciation and amortization |  |  |
Lawson(1) | $ | 19,532 |  |  | $ | 10,594 |
TestEquity | 26,002 |  |  | 17,480 |
Gexpro Services | 15,986 |  |  | 15,175 |
All Other(2) | 2,068 |  |  | 1,937 |
Total | $ | 63,588 |  |  | $ | 45,186 |
(1) Includes Lawson's activities only subsequent to the Merger Date of April 1, 2022 and not prior to the Mergers. (2) Includes the activities of All Other only subsequent to the Merger Date of April 1, 2022 and not prior to the Mergers.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration