Segment Data

3 Months Ended

Jan. 29, 2021

Segment Reporting [Abstract]

Segment Data

3 Segment Data

The company's businesses are organized, managed, and internally grouped into segments based on similarities in products and services. Segment selection is based on the manner in which management organizes segments for making operating and investment decisions and assessing performance. The company has identified eleven operating segments and has aggregated certain of those segments into two reportable segments: Professional and Residential. The aggregation of the company's segments is based on the segments having the following similarities: economic characteristics, types of products and services, types of production processes, type or class of customers, and method of distribution. The company's remaining activities are presented as "Other" due to their insignificance. As further described in Note 7, Divestiture, during the first quarter of fiscal 2021, the company completed the sale of its Northeastern U.S. distribution company. As a result, for the three month period ended January 29, 2021, the company's Other activities consisted of the company's wholly-owned domestic distribution company, the company's corporate activities, and the elimination of intersegment revenues and expenses. For the three month period ended January 31, 2020, the company's Other activities consisted of the company's wholly-owned domestic distribution companies, the company's corporate activities, and the elimination of intersegment revenues and expenses.

The following tables present summarized financial information concerning the company’s reportable segments and Other activities:

(Dollars in thousands)
Three Months Ended January 29, 2021	Professional		Residential		Other		Total
Net sales	$	650,223	$	217,700	$	5,063	$	872,986
Intersegment gross sales (eliminations)	6,642		16		(6,658)		—
Earnings (loss) before income taxes	116,816		32,108		(13,098)		135,826
Total assets	$	1,952,536	$	345,185	$	577,417	$	2,875,138

(Dollars in thousands)
Three Months Ended January 31, 2020	Professional		Residential		Other		Total
Net sales	$	594,721	$	165,848	$	6,914	$	767,483
Intersegment gross sales (eliminations)	8,771		27		(8,798)		—
Earnings (loss) before income taxes	102,474		21,566		(37,901)		86,139
Total assets	$	1,853,739	$	324,089	$	313,781	$	2,491,609

The following table presents the details of operating loss before income taxes for the company's Other activities:

	Three Months Ended
(Dollars in thousands)	January 29, 2021		January 31, 2020
Corporate expenses	$	(11,303)	$	(32,442)
Interest expense	(7,522)		(8,156)
Earnings from wholly-owned domestic distribution companies and other income, net	5,727		2,697
Total operating loss	$	(13,098)	$	(37,901)