Summarized financial information concerning the Company’s reportable segments is shown in the following tables.
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Three months ended June 30, 2026 |
|
(in millions) |
|
Retail |
|
|
Specialty Distribution |
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|
Total |
|
Total segment revenues |
|
$ |
947 |
|
|
$ |
721 |
|
|
$ |
1,668 |
|
Reconciliation of revenues |
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|
|
|
|
|
|
|
Other (1) |
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|
|
|
|
|
|
|
8 |
|
Total consolidated revenues |
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|
|
|
|
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$ |
1,676 |
|
Less: (2) |
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|
|
|
|
|
|
|
|
Employee compensation and benefits |
|
|
514 |
|
|
|
273 |
|
|
|
|
Other operating expenses |
|
|
174 |
|
|
|
146 |
|
|
|
|
(Gain)/loss on disposal |
|
|
1 |
|
|
|
— |
|
|
|
|
Depreciation and amortization |
|
|
77 |
|
|
|
50 |
|
|
|
|
Interest expense |
|
|
5 |
|
|
|
9 |
|
|
|
|
Change in estimated acquisition earn-out payables |
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|
(30 |
) |
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|
(10 |
) |
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|
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Segment Income before income taxes |
|
$ |
206 |
|
|
$ |
253 |
|
|
$ |
459 |
|
Reconciliation of income before income taxes |
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|
|
|
|
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Other (1) |
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|
|
|
|
|
|
|
(76 |
) |
Consolidated Income before income taxes |
|
|
|
|
|
|
|
$ |
383 |
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|
|
|
|
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|
|
|
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|
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|
|
|
Three months ended June 30, 2025 |
|
(in millions) |
|
Retail |
|
|
Specialty Distribution |
|
|
Total |
|
Total segment revenues |
|
$ |
697 |
|
|
$ |
563 |
|
|
$ |
1,260 |
|
Reconciliation of revenues |
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|
|
|
|
|
|
|
|
Other (1) |
|
|
|
|
|
|
|
|
25 |
|
Total consolidated revenues |
|
|
|
|
|
|
|
$ |
1,285 |
|
Less: (2) |
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|
|
|
|
|
|
|
|
Employee compensation and benefits |
|
|
385 |
|
|
|
202 |
|
|
|
|
Other operating expenses |
|
|
120 |
|
|
|
98 |
|
|
|
|
(Gain)/loss on disposal |
|
|
— |
|
|
|
— |
|
|
|
|
Depreciation and amortization |
|
|
41 |
|
|
|
19 |
|
|
|
|
Interest expense |
|
|
15 |
|
|
|
9 |
|
|
|
|
Change in estimated acquisition earn-out payables |
|
|
9 |
|
|
|
2 |
|
|
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|
Segment Income before income taxes |
|
$ |
127 |
|
|
$ |
233 |
|
|
$ |
360 |
|
Reconciliation of income before income taxes |
|
|
|
|
|
|
|
|
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Other (1) |
|
|
|
|
|
|
|
|
(49 |
) |
Consolidated Income before income taxes |
|
|
|
|
|
|
|
$ |
311 |
|
(1)"Other" includes any income and expenses not allocated to reportable segments and corporate-related items. (2)Significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
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|
Six months ended June 30, 2026 |
|
(in millions) |
|
Retail |
|
|
Specialty Distribution |
|
|
Total |
|
Total segment revenues |
|
$ |
2,156 |
|
|
$ |
1,403 |
|
|
$ |
3,559 |
|
Reconciliation of revenues |
|
|
|
|
|
|
|
|
|
Other (1) |
|
|
|
|
|
|
|
|
18 |
|
Total consolidated revenues |
|
|
|
|
|
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$ |
3,577 |
|
Less: (2) |
|
|
|
|
|
|
|
|
|
Employee compensation and benefits |
|
|
1,128 |
|
|
|
546 |
|
|
|
|
Other operating expenses |
|
|
354 |
|
|
|
281 |
|
|
|
|
(Gain)/loss on disposal |
|
|
— |
|
|
|
— |
|
|
|
|
Depreciation and amortization |
|
|
159 |
|
|
|
100 |
|
|
|
|
Interest expense |
|
|
12 |
|
|
|
17 |
|
|
|
|
Change in estimated acquisition earn-out payables |
|
|
(19 |
) |
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|
(15 |
) |
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|
Segment Income before income taxes |
|
$ |
522 |
|
|
$ |
474 |
|
|
$ |
996 |
|
Reconciliation of income before income taxes |
|
|
|
|
|
|
|
|
|
Other (1) |
|
|
|
|
|
|
|
|
(81 |
) |
Consolidated Income before income taxes |
|
|
|
|
|
|
|
$ |
915 |
|
|
|
|
|
|
|
|
|
|
|
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|
Six months ended June 30, 2025 |
|
(in millions) |
|
Retail |
|
|
Specialty Distribution |
|
|
Total |
|
Total segment revenues |
|
$ |
1,604 |
|
|
$ |
1,050 |
|
|
$ |
2,654 |
|
Reconciliation of revenues |
|
|
|
|
|
|
|
|
|
Other (1) |
|
|
|
|
|
|
|
|
35 |
|
Total consolidated revenues |
|
|
|
|
|
|
|
$ |
2,689 |
|
Less: (2) |
|
|
|
|
|
|
|
|
|
Employee compensation and benefits |
|
|
833 |
|
|
|
401 |
|
|
|
|
Other operating expenses |
|
|
241 |
|
|
|
189 |
|
|
|
|
(Gain)/loss on disposal |
|
|
1 |
|
|
|
— |
|
|
|
|
Depreciation and amortization |
|
|
85 |
|
|
|
39 |
|
|
|
|
Interest expense |
|
|
30 |
|
|
|
18 |
|
|
|
|
Change in estimated acquisition earn-out payables |
|
|
3 |
|
|
|
4 |
|
|
|
|
Segment Income before income taxes |
|
$ |
411 |
|
|
$ |
399 |
|
|
$ |
810 |
|
Reconciliation of income before income taxes |
|
|
|
|
|
|
|
|
|
Other (1) |
|
|
|
|
|
|
|
|
(72 |
) |
Consolidated Income before income taxes |
|
|
|
|
|
|
|
$ |
738 |
|
(1)"Other" includes any income and expenses not allocated to reportable segments and corporate-related items. (2)Significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
|