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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Financial Information of Reportable Segments | Financial information for the Company’s segments and reconciliations of that information to the unaudited condensed consolidated financial statements is presented below.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Revenue |  |  |  |  |  |  |
Lawson | $ | 117,957 |  |  | $ | 114,477 |  |  | $ | 357,261 |  |  | $ | 358,903 |
TestEquity | 195,244 |  |  | 207,657 |  |  | 579,874 |  |  | 451,082 |
Gexpro Services | 116,141 |  |  | 103,232 |  |  | 321,926 |  |  | 312,523 |
Canada Branch Division | 39,092 |  |  | 13,543 |  |  | 66,058 |  |  | 42,655 |
Intersegment revenue elimination | (415) |  |  | — |  |  | (1,478) |  |  | — |
Total revenue | $ | 468,019 |  |  | $ | 438,909 |  |  | $ | 1,323,641 |  |  | $ | 1,165,163 |
Operating income (loss) |  |  |  |  |  |  |
Lawson | $ | 726 |  |  | $ | 10,643 |  |  | $ | 10,962 |  |  | $ | 27,358 |
TestEquity | 4,329 |  |  | (5,027) |  |  | (1,062) |  |  | (8,183) |
Gexpro Services | 11,543 |  |  | 7,332 |  |  | 25,096 |  |  | 23,484 |
Canada Branch Division | 2,523 |  |  | 1,468 |  |  | 4,846 |  |  | 4,545 |
All Other | (174) |  |  | (1,633) |  |  | (3,954) |  |  | (3,924) |
Total operating income (loss) | $ | 18,947 |  |  | $ | 12,783 |  |  | $ | 35,888 |  |  | $ | 43,280 |
Intersegment revenue is eliminated in consolidation. Segment revenue and the elimination of intersegment revenue was as follows:
(in thousands) |  | Lawson |  | TestEquity |  | Gexpro Services |  | Canada Branch Division |  | Elimination |  | Total
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 117,953 |  |  | $ | 195,210 |  |  | $ | 115,764 |  |  | $ | 39,092 |  |  | $ | — |  |  | $ | 468,019 |
Intersegment revenue |  | 4 |  |  | 34 |  |  | 377 |  |  | — |  |  | (415) |  |  | — |
Revenue |  | $ | 117,957 |  |  | $ | 195,244 |  |  | $ | 116,141 |  |  | $ | 39,092 |  |  | $ | (415) |  |  | $ | 468,019 |
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 114,477 |  |  | $ | 207,657 |  |  | $ | 103,232 |  |  | $ | 13,543 |  |  | $ | — |  |  | $ | 438,909 |
Intersegment revenue |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Revenue |  | $ | 114,477 |  |  | $ | 207,657 |  |  | $ | 103,232 |  |  | $ | 13,543 |  |  | $ | — |  |  | $ | 438,909 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 357,204 |  |  | $ | 579,721 |  |  | $ | 320,658 |  |  | $ | 66,058 |  |  | $ | — |  |  | $ | 1,323,641 |
Intersegment revenue |  | 57 |  |  | 153 |  |  | 1,268 |  |  | — |  |  | (1,478) |  |  | — |
Revenue |  | $ | 357,261 |  |  | $ | 579,874 |  |  | $ | 321,926 |  |  | $ | 66,058 |  |  | $ | (1,478) |  |  | $ | 1,323,641 |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 358,903 |  |  | $ | 451,082 |  |  | $ | 312,523 |  |  | $ | 42,655 |  |  |  |  | $ | 1,165,163 |
Intersegment revenue |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Revenue |  | $ | 358,903 |  |  | $ | 451,082 |  |  | $ | 312,523 |  |  | $ | 42,655 |  |  | $ | — |  |  | $ | 1,165,163 |
Total assets by segment were as follows:
(in thousands) | September 30, 2024 |  | December 31, 2023
Total assets by segment |  |  |
Lawson | $ | 554,384 |  |  | $ | 467,195 |
TestEquity | 651,667 |  |  | 638,950 |
Gexpro Services | 333,591 |  |  | 329,799 |
Canada Branch Division | 193,283 |  |  | 71,446 |
All Other | 52,017 |  |  | 42,941 |
Total | $ | 1,784,942 |  |  | $ | 1,550,331 |

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- 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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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
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