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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Since all of our sales centers have similar operations and share similar economic characteristics, we aggregate our sales centers into a single reportable segment and one reportable revenue stream. These similarities include (i) the nature of our products and services, (ii) the types of customers we sell to and (iii) the distribution methods we use. Our chief operating decision maker (CODM) is our president and chief executive officer. Our CODM evaluates each sales center based on individual performance that includes both financial and operational measures. These measures include operating income, accounts receivable and inventory management criteria.

A bottom-up approach is used to develop the operating budget for each individual sales center. Our CODM makes resource allocation decisions primarily on a sales center-by-sales center basis. No single sales center meets any of the quantitative thresholds (10% of revenues, profit or assets) for separately reporting information about an operating segment. We do not track sales by product lines and product categories on a consolidated basis. We lack readily available financial information due to the
number of our product lines and product categories and the fact that we make ongoing changes to product classifications within these groups, thus making it impracticable to report our sales by product category.

Our segment derives revenue from sales centers in North America, Europe and Australia that sell swimming pool supplies, equipment and related leisure products, irrigation and landscape maintenance products and hardscape, tile and stone products to pool builders, retail stores, service companies, landscape contractors and others. No single customer accounted for 10% or more of our sales. The accounting policies for our segment are the same as those described in Note 1.

The table below presents segment revenue, operating expenses and operating income and reconciles segment operating income to consolidated income before taxes and equity in earnings (in thousands):
Year Ended December 31,
202420232022
Net sales$5,310,953 $5,541,595 $6,179,727 
Cost of sales3,735,606 3,881,551 4,246,315 
Gross profit1,575,347 1,660,044 1,933,412 
Compensation expenses486,824 477,971 495,860 
Freight out expenses90,268 84,932 89,002 
Other selling and administrative expenses381,051 350,574 322,767 
Operating income617,204 746,567 1,025,783 
Reconciliation:
Interest and other non-operating expenses, net50,250 58,431 40,911 
Income before income taxes and equity in earnings$566,954 $688,136 $984,872 

The tables below present supplemental information for our segment (in thousands):
Year Ended December 31,
202420232022
Depreciation$36,784 $31,585 $30,381 
Amortization8,697 8,555 8,644 
Goodwill impairment— 550 605 

December 31,
20242023
Receivables, net$115,835 $145,723 
Receivables pledged under receivables facility199,026 197,187 
Product inventories, net1,289,300 1,365,466 

The table below presents net sales by geographic region, with international sales translated into U.S. dollars at prevailing exchange rates, for the past three years (in thousands):
 Year Ended December 31,
 202420232022
United States$4,936,981 $5,126,308 $5,674,909 
International373,972 415,287 504,818 
 $5,310,953 $5,541,595 $6,179,727 
The table below presents net property and equipment by geographic region, with international property and equipment balances translated into U.S. dollars at prevailing exchange rates, for the past three years (in thousands):
 December 31,
 202420232022
United States$241,891 $215,109 $185,117 
International9,433 8,820 8,592 
 $251,324 $223,929 $193,709