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Segment Data
6 Months Ended
Apr. 29, 2011
Segment Data  
Segment Data

Segment Data

 

The presentation of segment information reflects the manner in which management organizes segments for making operating decisions and assessing performance. On this basis, the company has determined it has three reportable business segments: Professional, Residential, and Distribution. The Distribution segment, which consists of company-owned domestic distributorships, has been combined with the company’s corporate activities and elimination of intersegment revenues and expenses that is shown as “Other” in the following tables due to the insignificance of the segment.

 

The following table shows the summarized financial information concerning the company’s reportable segments:

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Three months ended April 29, 2011

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$

418,284

 

$

209,632

 

$

3,685

 

$

631,601

 

Intersegment gross sales

 

13,272

 

1,310

 

(14,582

)

 

Earnings (loss) before income taxes

 

85,606

 

26,539

 

(21,645

)

90,500

 

 

Three months ended April 30, 2010

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$

349,576

 

$

210,098

 

$

3,145

 

$

562,819

 

Intersegment gross sales

 

6,258

 

59

 

(6,317

)

 

Earnings (loss) before income taxes

 

67,603

 

25,113

 

(23,959

)

68,757

 

 

Six months ended April 29, 2011

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$

676,564

 

$

332,925

 

$

5,324

 

$

1,014,813

 

Intersegment gross sales

 

19,567

 

2,164

 

(21,731

)

 

Earnings (loss) before income taxes

 

123,525

 

37,907

 

(46,479

)

114,953

 

Total assets

 

570,462

 

248,099

 

233,966

 

1,052,527

 

 

Six months ended April 30, 2010

 

Professional

 

Residential

 

Other

 

Total

 

Net sales

 

$

562,376

 

$

326,854

 

$

4,947

 

$

894,177

 

Intersegment gross sales

 

8,370

 

321

 

(8,691

)

 

Earnings (loss) before income taxes

 

93,413

 

38,540

 

(46,748

)

85,205

 

Total assets

 

491,307

 

212,857

 

281,825

 

985,989

 

 

The following table summarizes the components of the loss before income taxes included in “Other” shown above:

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

April 29,

 

April 30,

 

April 29,

 

April 30,

 

(Dollars in thousands)

 

2011

 

2010

 

2011

 

2010

 

Corporate expenses

 

$

(18,367

)

$

(20,452

)

$

(37,788

)

$

(38,396

)

Interest expense, net

 

(4,186

)

(4,271

)

(8,302

)

(8,516

)

Other

 

908

 

764

 

(389

)

164

 

Total

 

$

(21,645

)

$

(23,959

)

$

(46,479

)

$

(46,748

)