Segment Data

6 Months Ended

Apr. 30, 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 and six month periods ended April 30, 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 and six month periods ended May 1, 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 (in thousands):

Three Months Ended April 30, 2021	Professional		Residential		Other		Total
Net sales	$	828,358	$	315,035	$	5,714	$	1,149,107
Intersegment gross sales (eliminations)	9,151		10		(9,161)		—
Earnings (loss) before income taxes	$	167,132	$	45,986	$	(35,875)	$	177,243

Six Months Ended April 30, 2021	Professional		Residential		Other		Total
Net sales	$	1,478,581	$	532,735	$	10,777	$	2,022,093
Intersegment gross sales (eliminations)	15,793		26		(15,819)		—
Earnings (loss) before income taxes	283,948		78,094		(48,973)		313,069
Total assets	$	1,980,708	$	365,040	$	650,361	$	2,996,109

Three Months Ended May 1, 2020	Professional		Residential		Other		Total
Net sales	$	661,087	$	261,998	$	6,313	$	929,398
Intersegment gross sales (eliminations)	16,642		34		(16,676)		—
Earnings (loss) before income taxes	$	106,259	$	37,122	$	(22,010)	$	121,371

Six Months Ended May 1, 2020	Professional		Residential		Other		Total
Net sales	$	1,255,808	$	427,846	$	13,227	$	1,696,881
Intersegment gross sales (eliminations)	25,413		61		(25,474)		—
Earnings (loss) before income taxes	208,733		58,688		(59,911)		207,510
Total assets	$	2,052,529	$	328,068	$	430,878	$	2,811,475

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

	Three Months Ended				Six Months Ended
(Dollars in thousands)	April 30, 2021		May 1, 2020		April 30, 2021		May 1, 2020
Corporate expenses	$	(33,714)	$	(15,441)	$	(45,017)	$	(47,883)
Interest expense	(7,124)		(8,659)		(14,646)		(16,815)
Earnings from wholly-owned domestic distribution companies and other income, net	4,963		2,090		10,690		4,787
Total operating loss	$	(35,875)	$	(22,010)	$	(48,973)	$	(59,911)