XML 47 R36.htm IDEA: XBRL DOCUMENT v3.22.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Mar. 25, 2022
Segment Reporting [Abstract]  
Schedule of Segment Information
Three months ended
 March 25, 2022March 26, 2021
(in thousands)External Net SalesIntersegment SalesAdjusted EBITDAExternal Net SalesIntersegment SalesAdjusted EBITDA
Electrical$758,347 $1,530 $330,970 $486,924 $576 $188,826 
Safety & Infrastructure224,226 59 28,917 152,619 81 16,193 
Eliminations— (1,589)— (657)
Consolidated operations$982,573 $— $639,543 $— 

Six months ended
 March 25, 2022March 26, 2021
(in thousands)External Net SalesIntersegment SalesAdjusted EBITDAExternal Net SalesIntersegment SalesAdjusted EBITDA
Electrical$1,398,691 $2,869 $610,517 $873,244 $1,401 $322,099 
Safety & Infrastructure424,683 112 56,349 277,381 84 30,445 
Eliminations— (2,981)— (1,485)
Consolidated operations$1,823,374 $— $1,150,625 $— 


    
Presented below is a reconciliation of operating Segment Adjusted EBITDA to Income before income taxes:
Three months endedSix months ended
(in thousands)March 25, 2022March 26, 2021March 25, 2022March 26, 2021
Operating segment Adjusted EBITDA
Electrical$330,970 $188,826 $610,517 $322,099 
Safety & Infrastructure28,917 16,193 56,349 30,445 
Total$359,887 $205,019 $666,866 $352,544 
Unallocated expenses (a)(13,721)(11,654)(27,690)(22,189)
Depreciation and amortization(19,994)(19,265)(40,040)(38,309)
Interest expense, net(7,514)(8,416)(14,432)(16,670)
Stock-based compensation(6,128)(4,868)(9,555)(10,390)
Other (b)(440)2,421 (1,241)10,281 
Income before income taxes$312,090 $163,237 $573,908 $275,267 
(a) Represents unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, human resources, information technology, business development and communications, as well as certain costs and earnings of employee-related benefits plans, such as stock-based compensation and a portion of self-insured medical costs.
(b) Represents other items, such as inventory reserves and adjustments, loss on disposal of property, plant and equipment, insurance recovery related to damages of property, plant and equipment, release of indemnified uncertain tax positions, realized or unrealized gain (loss) on foreign currency impacts of intercompany loans and related forward currency derivatives, gain on purchase of business, restructuring costs and transaction costs.





The Company’s net sales by geography were as follows for the three months ended and six months ended March 25, 2022 and March 26, 2021:

Three months endedSix months ended
(in thousands)March 25, 2022March 26, 2021March 25, 2022March 26, 2021
United States$895,585 $572,427 $1,652,983 $1,027,191 
Other Americas24,649 12,636 47,136 19,410 
Europe52,709 43,546 103,162 82,899 
Asia-Pacific9,630 10,934 20,093 21,125 
Total$982,573 $639,543 $1,823,374 $1,150,625 

The table below shows the amount of net sales from external customers for each of the Company’s product categories which accounted for 10% or more of consolidated net sales in either period for the three months ended and six months ended March 25, 2022 and March 26, 2021:
Three months endedSix months ended
(in thousands)March 25, 2022March 26, 2021March 25, 2022March 26, 2021
Metal Electrical Conduit and Fittings$153,049 $148,405 $302,925 $273,234 
Electrical Cable & Flexible Conduit137,244 85,440 252,939 158,952 
Plastic Pipe and Conduit374,775 197,139 663,764 337,674 
Other Electrical products93,279 55,940 179,063 103,384 
Electrical758,347 486,924 1,398,691 873,244 
Mechanical Pipe112,818 86,480 224,061 151,991 
Other Safety & Infrastructure products111,408 66,139 200,622 125,390 
Safety & Infrastructure224,226 152,619 424,683 277,381 
Net sales$982,573 $639,543 $1,823,374 $1,150,625