| Schedule of net sales and operating results by segment |
Key information by segment is as follows, for the years ended December 31, in thousands:
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Net Sales |
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Operating Profit (b) |
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2023 |
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|
2022 |
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|
2021 |
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|
2023 |
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|
2022 |
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|
2021 |
Operations by segment (a): |
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Installation |
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$ |
3,188,232 |
|
$ |
2,969,978 |
|
$ |
2,378,401 |
|
$ |
644,392 |
|
$ |
548,795 |
|
$ |
383,722 |
Specialty Distribution |
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|
2,268,339 |
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|
2,278,261 |
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|
1,287,176 |
|
|
330,938 |
|
|
326,226 |
|
|
169,368 |
Intercompany eliminations and other adjustments |
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|
(261,877) |
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|
(239,495) |
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|
(179,370) |
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|
(44,438) |
|
|
(39,839) |
|
|
(29,653) |
Total |
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$ |
5,194,694 |
|
$ |
5,008,744 |
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$ |
3,486,207 |
|
|
930,892 |
|
|
835,182 |
|
|
523,437 |
General corporate expense, net (c) |
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(52,067) |
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(38,018) |
|
|
(47,018) |
Operating profit, as reported |
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|
|
878,825 |
|
|
797,164 |
|
|
476,419 |
Other expense, net |
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|
|
|
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|
|
|
(53,342) |
|
|
(55,029) |
|
|
(42,976) |
Income before income taxes |
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|
|
|
|
$ |
825,483 |
|
$ |
742,135 |
|
$ |
433,443 |
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Property Additions (d) |
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Depreciation and
Amortization |
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Total Assets |
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|
2023 |
|
2022 |
|
2021 |
|
2023 |
|
2022 |
|
2021 |
|
2023 |
|
2022 |
Operations by segment (a): |
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|
|
|
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Installation |
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$ |
48,076 |
|
$ |
46,518 |
|
$ |
53,996 |
|
$ |
69,123 |
|
$ |
62,483 |
|
$ |
57,815 |
|
$ |
2,207,734 |
|
$ |
2,129,255 |
Specialty Distribution |
|
|
18,859 |
|
|
17,671 |
|
|
41,847 |
|
|
59,607 |
|
|
56,881 |
|
|
18,743 |
|
|
2,060,127 |
|
|
2,175,835 |
Corporate |
|
|
8,394 |
|
|
10,023 |
|
|
4,539 |
|
|
4,148 |
|
|
3,971 |
|
|
2,832 |
|
|
894,990 |
|
|
301,741 |
Total, as reported |
|
$ |
75,329 |
|
$ |
74,212 |
|
$ |
100,382 |
|
$ |
132,878 |
|
$ |
123,335 |
|
$ |
79,390 |
|
$ |
5,162,851 |
|
$ |
4,606,831 |
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(a) |
All of our operations are located primarily in the U.S. and to a lesser extent Canada. |
(b) |
Segment operating profit includes an allocation of general corporate expenses attributable to the operating segments which is based on direct benefit or usage (such as salaries of corporate employees who directly support the segment). |
(c) |
General corporate expense, net includes expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs. |
(d) |
Property additions include assets acquired in business combinations in each respective year. |
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