| Segment Information |
7. SEGMENT INFORMATION
The following table sets forth our net sales and operating results by segment, in thousands:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31,
|
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
Net Sales
|
|
Operating (Loss) Profit (b)
|
|
Our operations by segment were (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Installation (exclusive of significant legal settlement, shown separately below)
|
|
$
|
290,887
|
|
$
|
272,878
|
|
$
|
21,036
|
|
$
|
13,506
|
|
Significant legal settlement (Installation segment) (c)
|
|
|
—
|
|
|
—
|
|
|
(30,000)
|
|
|
—
|
|
Distribution
|
|
|
170,244
|
|
|
160,888
|
|
|
15,484
|
|
|
14,333
|
|
Intercompany eliminations and other adjustments (d)
|
|
|
(19,768)
|
|
|
(19,742)
|
|
|
(3,301)
|
|
|
(3,352)
|
|
Total
|
|
$
|
441,363
|
|
$
|
414,024
|
|
|
3,219
|
|
|
24,487
|
|
General corporate expense, net (e)
|
|
|
|
|
|
|
|
|
(6,682)
|
|
|
(4,720)
|
|
Operating (loss) profit, as reported
|
|
|
|
|
|
|
|
|
(3,463)
|
|
|
19,767
|
|
Other expense, net
|
|
|
|
|
|
|
|
|
(1,263)
|
|
|
(1,598)
|
|
(Loss) income from continuing operations before income taxes
|
|
|
|
|
|
|
|
$
|
(4,726)
|
|
$
|
18,169
|
|
(a)
|
|
All of our operations are located in the United States.
|
|
(b)
|
|
Segment operating (loss) profit for the three months ended March 31, 2017 and 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).
|
|
(c)
|
|
Significant legal settlement expense of $30 million incurred during the three months ended March 31, 2017 related to the settlement of our previously reported breach of contract action related to our termination of an insulation supply agreement with Owens. For more information see Note 8 – Other Commitments and Contingencies.
|
|
(d)
|
|
Intercompany eliminations include the elimination of intercompany profits of $3.3 million and $3.4 for the three months ended March 31, 2017 and 2016, respectively.
|
|
(e)
|
|
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.
|
|