Schedule of Segment Information |
The following tables represent our segment information for the three and six months ended June 30, 2023 and 2022 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2023 | | Six months ended June 30, 2023 | | Installation | | Other | | Eliminations | | Consolidated | | Installation | | Other | | Eliminations | | Consolidated | Revenue | $ | 651,866 | | $ | 42,283 | | $ | (2,049) | | $ | 692,100 | | $ | 1,274,608 | | $ | 81,005 | | $ | (4,204) | | $ | 1,351,409 | Cost of sales (1) | 418,661 | | 30,371 | | (1,583) | | 447,449 | | 829,046 | | 58,829 | | (3,349) | | 884,526 | Segment gross profit | $ | 233,205 | | $ | 11,912 | | $ | (466) | | $ | 244,651 | | $ | 445,562 | | $ | 22,176 | | $ | (855) | | $ | 466,883 | Segment gross profit percentage | 35.8 | % | | 28.2 | % | | 22.7 | % | | 35.3 | % | | 35.0 | % | | 27.4 | % | | 20.3 | % | | 34.5 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2022 | | Six months ended June 30, 2022 | | Installation | | Other | | Eliminations | | Consolidated | | Installation | | Other | | Eliminations | | Consolidated | Revenue | $ | 637,998 | | $ | 40,291 | | $ | (1,540) | | $ | 676,749 | | $ | 1,199,629 | | $ | 66,941 | | $ | (2,329) | | $ | 1,264,241 | Cost of sales (1) | 419,812 | | 30,392 | | (1,290) | | 448,914 | | 805,504 | | 49,765 | | (1,899) | | 853,370 | Segment gross profit | $ | 218,186 | | $ | 9,899 | | $ | (250) | | $ | 227,835 | | $ | 394,125 | | $ | 17,176 | | $ | (430) | | $ | 410,871 | Segment gross profit percentage | 34.2 | % | | 24.6 | % | | 16.2 | % | | 33.7 | % | | 32.9 | % | | 25.7 | % | | 18.5 | % | | 32.5 | % |
(1)Cost of sales included in segment gross profit is exclusive of depreciation and amortization for the three and six months ended June 30, 2023 and 2022. The reconciliation between consolidated segment gross profit for each period as shown in the tables above to consolidated income before income taxes is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2023 | | 2022 | | 2023 | | 2022 | Segment gross profit - consolidated | $ | 244,651 | | | $ | 227,835 | | | $ | 466,883 | | | $ | 410,871 | | Depreciation and amortization (1) | 12,176 | | | 11,126 | | | 23,986 | | | 21,759 | | Gross profit, as reported | 232,475 | | | 216,709 | | | 442,897 | | | 389,112 | | Operating expenses | 140,142 | | | 124,662 | | | 273,688 | | | 240,095 | | Operating income | 92,333 | | | 92,047 | | | 169,209 | | | 149,017 | | Other expense, net | 9,642 | | | 10,769 | | | 19,159 | | | 21,514 | | Income before income taxes | $ | 82,691 | | | $ | 81,278 | | | $ | 150,050 | | | $ | 127,503 | |
(1)Depreciation and amortization is excluded from segment gross profit for the three and six months ended June 30, 2023 and 2022.
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