| Schedule of net sales and operating results by segment |
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Three Months Ended September 30,
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2016
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2015
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2016
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2015
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Net Sales
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Operating Profit (2)
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Our operations by segment were (1):
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Installation
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$
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300,005
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$
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279,809
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$
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32,196
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$
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20,678
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Distribution
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174,123
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170,881
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15,536
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16,909
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Intercompany eliminations and other adjustments (3)
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(21,026)
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(22,802)
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(3,665)
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(3,001)
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Total
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$
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453,102
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$
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427,888
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44,067
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34,586
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General corporate expense, net (4)
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(4,966)
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(4,395)
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Operating profit, as reported
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39,101
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30,191
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Other expense, net
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(1,206)
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(1,566)
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Income from continuing operations before income taxes
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$
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37,895
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$
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28,625
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Nine Months Ended September 30,
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2016
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2015
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2016
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2015
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Net Sales
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Operating Profit (2)
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Our operations by segment were (1):
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Installation
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$
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860,924
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$
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778,469
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$
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68,499
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$
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26,713
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Distribution
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499,268
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476,333
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43,416
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40,183
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Intercompany eliminations and other adjustments (3)
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(61,477)
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(64,693)
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(10,540)
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(8,340)
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Total
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$
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1,298,715
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$
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1,190,109
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101,375
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58,556
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General corporate expense, net (4)
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(15,716)
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(18,022)
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Operating profit, as reported
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85,659
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40,534
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Other expense, net
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(4,114)
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(7,879)
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Income from continuing operations before income taxes
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$
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81,545
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$
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32,655
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(1)
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All of our operations are located in the United States.
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(2)
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Segment operating profit for the three and nine months ended September 30, 2016, 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). Segment operating profit for the three and nine months ended September 30, 2015, includes an estimate of general corporate expense calculated based on a percentage of sales. For the three and nine months ended September 30, 2015, the $1.3 million and $5.1 million differences, respectively, between estimated expense and actual corporate expense is recorded in intercompany eliminations and other adjustments.
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(3)
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Intercompany eliminations include the elimination of intercompany profit of $3.7 million and $4.2 for the three months ended September 30, 2016 and 2015, respectively, and $10.5 million and $11.6 million for the nine months ended September 30, 2016 and 2015, respectively. Other adjustments primarily include differences between estimated and actual corporate costs allocated to the segments for the three and nine months ended September 30, 2015, as noted in footnote (2) above.
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(4)
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General corporate expense, net included expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs.
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