Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Segment Reporting Information, by Segment

The following tables set forth financial information by reportable segment for the periods presented:


(In thousands)	Three Months Ended September 30, 2022
	EES			CSS			UBS			Corporate		Total
Net sales	$	2,234,771		$	1,602,459		$	1,608,686		$	—	$	5,445,916
Adjusted EBITDA	225,764			156,370			186,257			(102,495)		465,896
Adjusted EBITDA Margin %	10.1		%	9.8		%	11.6		%			8.6		%

	Three Months Ended September 30, 2021
(In thousands)	EES			CSS			UBS			Corporate		Total
Net sales	$	1,982,485		$	1,488,689		$	1,257,151		$	—	$	4,728,325
Adjusted EBITDA	173,898			133,701			114,674			(92,013)		330,260
Adjusted EBITDA Margin %	8.8		%	9.0		%	9.1		%			7.0		%


(In thousands)	Nine Months Ended September 30, 2022
	EES			CSS			UBS			Corporate		Total
Net sales	$	6,654,883		$	4,638,631		$	4,568,108		$	—	$	15,861,622
Adjusted EBITDA	653,630			429,452			491,652			(300,256)		1,274,478
Adjusted EBITDA Margin %	9.8		%	9.3		%	10.8		%			8.0		%

	Nine Months Ended September 30, 2021
(In thousands)	EES			CSS			UBS			Corporate		Total
Net sales	$	5,626,309		$	4,200,424		$	3,538,859		$	—	$	13,365,592
Adjusted EBITDA	453,894			355,521			299,030			(252,391)		856,054
Adjusted EBITDA Margin %	8.1		%	8.5		%	8.4		%			6.4		%

The following tables reconcile net income attributable to common stockholders to adjusted EBITDA and adjusted EBITDA margin % by segment, which are non-GAAP financial measures, for the periods presented:


	Three Months Ended September 30, 2022
(In thousands)	EES			CSS			UBS			Corporate		Total
Net income attributable to common stockholders	$	214,054		$	138,747		$	180,354		$	(307,905)	$	225,250
Net income attributable to noncontrolling interests	200			—			—			408		608
Preferred stock dividends	—			—			—			14,352		14,352
Provision for income taxes	—			—			—			85,637		85,637
Interest expense, net	—			—			—			75,057		75,057
Depreciation and amortization	9,596			15,929			5,859			11,339		42,723
Other (income) expense, net	(1,069)			266			(1,063)			2,554		688
Stock-based compensation expense(1)	2,983			1,428			1,107			2,853		8,371
Merger-related and integration costs	—			—			—			13,210		13,210
Adjusted EBITDA	$	225,764		$	156,370		$	186,257		$	(102,495)	$	465,896
Adjusted EBITDA margin %	10.1		%	9.8		%	11.6		%			8.6		%
(1) Stock-based compensation expense in the calculation of adjusted EBITDA for the three months ended September 30, 2022 excludes $1.3 million as such amount is included in merger-related and integration costs.

Reconciliation of Assets from Segment to Consolidated

The following table sets forth total assets by reportable segment for the periods presented:


	As of
	September 30, 2022
(In thousands)	EES		CSS		UBS		Corporate(1)		Total
Total assets	$	4,541,553	$	4,988,009	$	3,817,459	$	733,543	$	14,080,564

	As of
	December 31, 2021
(In thousands)	EES		CSS		UBS		Corporate(1)		Total
Total assets	$	4,098,335	$	4,601,132	$	3,266,231	$	652,001	$	12,617,699

(1) Total assets for Corporate primarily consist of cash and cash equivalents, deferred income taxes, fixed assets and right-of-use assets associated with operating leases.