Segment Data

9 Months Ended

Jul. 29, 2022

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 the company's chief operating decision maker organizes segments for making operating and investment decisions and assessing performance. The company has identified twelve operating segments and has aggregated certain of those operating 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. The company's Other activities consist of the company's wholly-owned domestic distribution company, 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 business segments and Other activities (in thousands):

Three Months Ended July 29, 2022	Professional		Residential		Other		Total
Net sales	$	886,232	$	269,962	$	4,356	$	1,160,550
Intersegment gross sales (eliminations)	10,436		15		(10,451)		—
Earnings (loss) before income taxes	$	166,191	$	26,348	$	(35,448)	$	157,091
Nine Months Ended July 29, 2022	Professional		Residential		Other		Total
Net sales	$	2,484,927	$	845,039	$	12,712	$	3,342,678
Intersegment gross sales (eliminations)	23,201		50		(23,251)		—
Earnings (loss) before income taxes	424,833		95,203		(110,742)		409,294
Total assets	$	2,625,481	$	407,218	$	407,250	$	3,439,949

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

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 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Corporate expenses	$	(30,816)	$	(33,797)	$	(94,359)	$	(78,814)
Interest expense	(9,182)		(7,016)		(24,219)		(21,662)
Earnings from wholly-owned domestic distribution companies and other income, net	4,550		4,385		7,836		15,075
Total operating loss	$	(35,448)	$	(36,428)	$	(110,742)	$	(85,401)