Segment Data

6 Months Ended

May 02, 2014

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 May 2, 2014	Professional		Residential		Other			Total
Net sales	$	528,561	$	210,377	$	6,092		$	745,030
Intersegment gross sales	14,438		128		(14,566		)	—
Earnings (loss) before income taxes	122,367		23,822		(17,073		)	129,116

Three months ended May 3, 2013	Professional		Residential		Other			Total
Net sales	$	496,436	$	201,390	$	6,660		$	704,486
Intersegment gross sales	11,318		121		(11,439		)	—
Earnings (loss) before income taxes	112,275		24,679		(20,637		)	116,317

Six months ended May 2, 2014	Professional		Residential		Other			Total
Net sales	$	824,029	$	357,947	$	9,035		$	1,191,011
Intersegment gross sales	19,914		250		(20,164		)	—
Earnings (loss) before income taxes	169,830		41,956		(43,915		)	167,871
Total assets	670,723		238,156		270,367			1,179,246

Six months ended May 3, 2013	Professional		Residential		Other			Total
Net sales	$	825,580	$	322,337	$	1,230		$	1,149,147
Intersegment gross sales	26,773		205		(26,978		)	—
Earnings (loss) before income taxes	173,013		36,833		(50,131		)	159,715
Total assets	653,514		256,412		205,028			1,114,954

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

	Three Months Ended						Six Months Ended
	May 2,			May 3,			May 2,			May 3,
(Dollars in thousands)	2014			2013			2014			2013
Corporate expenses	$	(16,655	)	$	(20,635	)	$	(40,347	)	$	(42,319	)
Interest expense, net	(3,683		)	(4,149		)	(7,436		)	(8,398		)
Other	3,265			4,147			3,868			586
Total	$	(17,073	)	$	(20,637	)	$	(43,915	)	$	(50,131	)