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SEGMENT INFORMATION
 9 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION
16. SEGMENT INFORMATION

The Electrical segment manufactures high quality products used in the construction of electrical power systems including conduit, cable and installation accessories. This segment serves contractors in partnership with the electrical wholesale channel.

The Safety & Infrastructure segment designs and manufactures solutions including metal framing, mechanical pipe, perimeter security and cable management for the protection and reliability of critical
infrastructure. These solutions are marketed to contractors, original equipment manufacturers and end users.
    
Both segments use Adjusted EBITDA as the primary measure of profit and loss. Segment Adjusted EBITDA is income (loss) before income taxes, adjusted to exclude unallocated expenses, depreciation and amortization, interest expense, net, stock-based compensation, loss on extinguishment of debt, certain legal matters, and other items, such as inventory reserves and adjustments, (gain) 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, loss on assets held for sale, restructuring costs and transaction costs.

Intersegment transactions primarily consist of product sales at designated transfer prices on an arm’s-length basis. Gross profit earned and reported within the segment is eliminated in the Company’s consolidated results. Certain manufacturing and distribution expenses are allocated between the segments on a pro rata basis due to the shared nature of activities. Recorded amounts represent a proportional amount of the quantity of product produced for each segment. Certain assets, such as machinery and equipment and facilities, are not allocated to each segment despite serving both segments. These shared assets are reported within the Safety & Infrastructure segment. The Company allocates certain corporate operating expenses that directly benefit our operating segments, such as insurance and information technology, on a basis that reasonably approximates an estimate of the use of these services.

Three months ended
 June 30, 2023June 24, 2022
(in thousands)External Net SalesIntersegment SalesAdjusted EBITDAExternal Net SalesIntersegment SalesAdjusted EBITDA
Electrical$705,603 $14 $266,556 $819,845 $1,721 $351,466 
Safety & Infrastructure213,514 92 21,493 241,745 164 45,669 
Eliminations— (106)— (1,885)
Consolidated operations$919,117 $— $1,061,590 $— 

Nine months ended
 June 30, 2023June 24, 2022
(in thousands)External Net SalesIntersegment SalesAdjusted EBITDAExternal Net SalesIntersegment SalesAdjusted EBITDA
Electrical$2,025,263 $24 $767,276 $2,218,535 $1,947 $961,983 
Safety & Infrastructure623,609 310 88,091 666,428 276 102,018 
Eliminations— (334)— (2,223)
Consolidated operations$2,648,872 $— $2,884,963 $— 
Presented below is a reconciliation of operating Segment Adjusted EBITDA to Income before income taxes:
Three months endedNine months ended
(in thousands)June 30, 2023June 24, 2022June 30, 2023June 24, 2022
Operating segment Adjusted EBITDA
Electrical$266,556 $351,466 $767,276 $961,983 
Safety & Infrastructure21,493 45,669 88,091 102,018 
Total$288,049 $397,135 $855,367 $1,064,001 
Unallocated expenses (a)(17,787)(19,605)(45,218)(47,295)
Depreciation and amortization(30,105)(20,428)(84,671)(60,467)
Interest expense, net(8,682)(7,243)(26,645)(21,676)
Stock-based compensation(5,966)(4,625)(18,100)(14,180)
Other (b)(5,289)(2,880)(10,906)(4,122)
Income before income taxes$220,219 $342,354 $669,828 $916,261 
(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, release of indemnified uncertain tax positions, gain on purchase of business. loss on assets held for sale, realized or unrealized gain (loss) on foreign currency impacts of intercompany loans and related forward currency derivatives, and restructuring charges.


The Company’s net sales by geography were as follows for the three months ended and the nine months ended June 30, 2023 and June 24, 2022:

Three months endedNine months ended
(in thousands)June 30, 2023June 24, 2022June 30, 2023June 24, 2022
United States$824,356 $961,954 $2,374,005 $2,614,937 
Other Americas27,026 30,094 70,643 77,230 
Europe56,568 56,952 170,387 160,115 
Asia-Pacific11,167 12,588 33,837 32,681 
Total$919,117 $1,061,590 $2,648,872 $2,884,963 
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 the nine months ended June 30, 2023 and June 24, 2022:

Three months endedNine months ended
(in thousands)June 30, 2023June 24, 2022June 30, 2023June 24, 2022
Metal Electrical Conduit and Fittings$148,439 $181,196 $387,919 $484,122 
Electrical Cable & Flexible Conduit133,414 142,298 386,925 395,237 
Plastic Pipe and Conduit322,966 389,438 962,270 1,053,203 
Other Electrical products100,784 106,913 288,149 285,973 
Electrical705,603 819,845 2,025,263 2,218,535 
Mechanical Pipe98,841 115,156 276,342 339,217 
Other Safety & Infrastructure products114,672 126,589 347,267 327,211 
Safety & Infrastructure213,514 241,745 623,609 666,428 
Net sales$919,117 $1,061,590 $2,648,872 $2,884,963