Segment Data

9 Months Ended

Jul. 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 nine month periods ended July 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 nine month periods ended July 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 (in thousands):

Three Months Ended July 30, 2021	Professional		Residential		Other		Total
Net sales	$	718,477	$	252,117	$	6,242	$	976,836
Intersegment gross sales (eliminations)	8,241		13		(8,254)		—
Earnings (loss) before income taxes	$	122,331	$	31,548	$	(36,428)	$	117,451

Nine Months Ended July 30, 2021	Professional		Residential		Other		Total
Net sales	$	2,197,058	$	784,852	$	17,019	$	2,998,929
Intersegment gross sales (eliminations)	24,034		39		(24,073)		—
Earnings (loss) before income taxes	406,279		109,642		(85,401)		430,520
Total assets	$	1,949,681	$	327,064	$	691,304	$	2,968,049

Three Months Ended July 31, 2020	Professional		Residential		Other		Total
Net sales	$	623,615	$	204,961	$	12,396	$	840,972
Intersegment gross sales (eliminations)	12,738		23		(12,761)		—
Earnings (loss) before income taxes	$	113,652	$	28,545	$	(31,204)	$	110,993

Nine Months Ended July 31, 2020	Professional		Residential		Other		Total
Net sales	$	1,879,423	$	632,807	$	25,623	$	2,537,853
Intersegment gross sales (eliminations)	38,151		84		(38,235)		—
Earnings (loss) before income taxes	322,385		87,233		(91,115)		318,503
Total assets	$	1,967,882	$	268,562	$	577,419	$	2,813,863

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

	Three Months Ended				Nine Months Ended
(Dollars in thousands)	July 30, 2021		July 31, 2020		July 30, 2021		July 31, 2020
Corporate expenses	$	(33,797)	$	(29,078)	$	(78,814)	$	(76,961)
Interest expense	(7,016)		(8,304)		(21,662)		(25,119)
Earnings from wholly-owned domestic distribution companies and other income, net	4,385		6,178		15,075		10,965
Total operating loss	$	(36,428)	$	(31,204)	$	(85,401)	$	(91,115)