Less: Former Intercompany Sales and Related GP (Prior U.S. Segment sales to Affiliates)
(509)
(37)
-
(37)
(133)
(10)
-
(10)
(118)
(8)
-
(8)
(131)
(9)
-
(9)
(127)
(10)
-
(10)
Reclassify: GP Impact to SG&A Service Fee
-
-
(37)
37
-
-
(10)
10
-
-
(8)
8
-
-
(9)
9
-
-
(10)
10
Add: Allocable Corporate Costs
-
-
124
(124)
-
-
30
(30)
-
-
35
(35)
-
-
27
(27)
-
-
32
(32)
U.S.
$ 8,561
$ 3,296
$ 2,121
$ 1,175
$ 2,174
$ 871
$ 561
$ 310
$ 2,051
$ 787
$ 504
$ 283
$ 2,216
$ 846
$ 519
$ 327
$ 2,120
$ 792
$ 537
$ 255
Canada
476
151
167
(16)
129
41
44
(3)
107
34
37
(3)
116
37
35
2
124
39
51
(12)
Other High-Touch Solutions (N.A.) - Mexico/P.R.
184
77
54
23
52
22
15
7
39
17
12
5
45
18
13
5
48
20
14
6
Total High-Touch Solutions (N.A.)
$ 9,221
$ 3,524
$ 2,342
$ 1,182
$ 2,355
$ 934
$ 620
$ 314
$ 2,197
$ 838
$ 553
$ 285
$ 2,377
$ 901
$ 567
$ 334
$ 2,292
$ 851
$ 602
$ 249
MonotaRO
$ 1,436
$ 378
$ 203
$ 175
$ 315
$ 84
$ 47
$ 37
$ 355
$ 93
$ 50
$ 43
$ 371
$ 96
$ 49
$ 47
$ 395
$ 105
$ 57
$ 48
Zoro
717
219
207
12
177
54
53
1
164
50
48
2
194
58
54
4
182
57
52
5
Other Endless Assortment
25
4
25
(21)
4
- 0
3
(3)
6
1
4
(3)
7
2
5
(3)
8
1
13
(12)
Total Endless Assortment
$ 2,178
$ 601
$ 435
$ 166
$ 496
$ 138
$ 103
$ 35
$ 525
$ 144
$ 102
$ 42
$ 572
$ 156
$ 108
$ 48
$ 585
$ 163
$ 122
$ 41
Cromwell
$ 247
$ 63
$ 98
$ (35)
$ 76
$ 22
$ 25
$ (3)
$ 47
$ 13
$ 20
$ (7)
$ 60
$ 15
$ 25
$ (10)
$ 64
$ 13
$ 28
$ (15)
Other
151
50
344
(294)
74
27
214
(187)
68
21
136
(115)
9
2
(6)
8
- 0
- 0
- 0
- 0
Total Other
$ 398
$ 113
$ 442
$ (329)
$ 150
$ 49
$ 239
$ (190)
$ 115
$ 34
$ 156
$ (122)
$ 69
$ 17
$ 19
$ (2)
$ 64
$ 13
$ 28
$ (15)
Total Company
$ 11,797
$ 4,238
$ 3,219
$ 1,019
$ 3,001
$ 1,121
$ 962
$ 159
$ 2,837
$ 1,016
$ 811
$ 205
$ 3,018
$ 1,074
$ 694
$ 380
$ 2,941
$ 1,027
$ 752
$ 275
Metrics (Reported)
Rates based on Thousands
Prior U.S. Segment
36.7%
22.4%
14.3%
38.2%
23.4%
14.7%
36.7%
22.0%
14.6%
36.4%
21.3%
15.1%
35.7%
22.9%
12.8%
U.S.
38.5%
24.8%
13.7%
40.1%
25.8%
14.2%
38.4%
24.6%
13.8%
38.2%
23.4%
14.7%
37.4%
25.3%
12.0%
Canada
31.6%
35.1%
-3.4%
31.3%
33.9%
-2.6%
31.5%
34.0%
-2.5%
32.3%
30.5%
1.9%
31.5%
41.5%
-10.0%
Other High-Touch Solutions (N.A.) - Mexico/P.R.
41.7%
29.0%
12.7%
42.9%
28.4%
14.5%
43.0%
31.3%
11.7%
41.5%
28.7%
12.8%
39.5%
27.9%
11.6%
Total High-Touch Solutions (N.A.)
38.2%
25.4%
12.8%
39.6%
26.3%
13.3%
38.1%
25.1%
13.0%
37.9%
23.9%
14.1%
37.1%
26.3%
10.8%
MonotaRO
26.4%
14.1%
12.2%
26.6%
14.9%
11.7%
26.2%
14.0%
12.2%
26.1%
13.5%
12.6%
26.6%
14.3%
12.2%
Zoro
30.6%
28.9%
1.6%
30.2%
29.9%
0.3%
30.6%
29.2%
1.3%
30.1%
28.1%
2.0%
31.3%
28.5%
2.8%
Other Endless Assortment
14.7%
96.8%
-82.1%
9.4%
95.0%
-85.6%
14.7%
76.7%
-62.0%
16.4%
56.7%
-40.3%
15.2%
145.7%
-130.6%
Total Endless Assortment
27.6%
20.0%
7.6%
27.8%
20.7%
7.0%
27.4%
19.4%
8.0%
27.3%
19.0%
8.3%
27.9%
20.7%
7.2%
Cromwell
25.5%
39.8%
-14.3%
29.2%
33.9%
-4.7%
27.7%
42.5%
-14.8%
24.7%
40.8%
-16.1%
20.4%
43.9%
-23.5%
Other
33.2%
228.6%
-195.4%
36.9%
287.0%
-250.2%
30.6%
198.6%
-168.0%
21.7%
-67.0%
88.7%
N/A
N/A
N/A
Total Other
28.4%
111.2%
-82.7%
33.0%
159.1%
-126.1%
29.4%
135.1%
-105.7%
24.3%
28.6%
-4.3%
20.4%
43.7%
-23.3%
Total Company
35.9%
27.3%
8.6%
37.4%
32.1%
5.3%
35.8%
28.5%
7.3%
35.6%
23.1%
12.6%
34.9%
25.5%
9.4%
Adjusted 2020
New Segment Information (Adjusted Results)1
In Millions
FY 2020
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Revenue
GP
SG&A
OE
Revenue
GP
SG&A
OE
Revenue
GP
SG&A
OE
Revenue
GP
SG&A
OE
Revenue
GP
SG&A
OE
Prior U.S. Segment
$ 9,070
$ 3,333
$ 2,028
$ 1,305
$ 2,307
$ 881
$ 535
$ 346
$ 2,169
$ 795
$ 477
$ 318
$ 2,347
$ 855
$ 501
$ 354
$ 2,247
$ 802
$ 515
$ 287
Less: Former Intercompany Sales and Related GP (Prior U.S. Segment sales to Affiliates)
(509)
(37)
-
(37)
(133)
(10)
-
(10)
(118)
(8)
-
(8)
(131)
(9)
-
(9)
(127)
(10)
-
(10)
Reclassify: GP Impact to SG&A Service Fee
-
-
(37)
37
-
-
(10)
10
-
-
(8)
8
-
-
(9)
9
-
-
(10)
10
Add: Allocable Corporate Costs
-
-
124
(124)
-
-
30
(30)
-
-
35
(35)
-
-
27
(27)
-
-
32
(32)
U.S.
$ 8,561
$ 3,296
$ 2,115
$ 1,181
$ 2,174
$ 871
$ 555
$ 316
$ 2,051
$ 787
$ 504
$ 283
$ 2,216
$ 846
$ 519
$ 327
$ 2,120
$ 792
$ 537
$ 255
Canada
476
151
155
(4)
129
41
43
(2)
107
34
36
(2)
116
37
36
1
124
39
40
(1)
Other High-Touch Solutions (N.A.) - Mexico/P.R.
184
77
54
23
52
22
15
7
39
17
12
5
45
18
13
5
48
20
14
6
Total High-Touch Solutions (N.A.)
$ 9,221
$ 3,524
$ 2,324
$ 1,200
$ 2,355
$ 934
$ 613
$ 321
$ 2,197
$ 838
$ 552
$ 286
$ 2,377
$ 901
$ 568
$ 333
$ 2,292
$ 851
$ 591
$ 260
MonotaRO
$ 1,436
$ 378
$ 203
$ 175
$ 315
$ 84
$ 47
$ 37
$ 355
$ 93
$ 50
$ 43
$ 371
$ 96
$ 49
$ 47
$ 395
$ 105
$ 57
$ 48
Zoro
717
219
207
12
177
54
53
1
164
50
48
2
194
58
54
4
182
57
52
5
Other Endless Assortment
25
4
16
(12)
4
- 0
3
(3)
6
1
4
(3)
7
2
5
(3)
8
1
4
(3)
Total Endless Assortment
$ 2,178
$ 601
$ 426
$ 175
$ 496
$ 138
$ 103
$ 35
$ 525
$ 144
$ 102
$ 42
$ 572
$ 156
$ 108
$ 48
$ 585
$ 163
$ 113
$ 50
Cromwell
$ 247
$ 63
$ 98
$ (35)
$ 76
$ 22
$ 25
$ (3)
$ 47
$ 13
$ 20
$ (7)
$ 60
$ 15
$ 25
$ (10)
$ 64
$ 13
$ 28
$ (15)
Other
151
50
63
(13)
74
27
37
(10)
68
21
27
(6)
9
2
(1)
3
- 0
- 0
- 0
- 0
Total Other
$ 398
$ 113
$ 161
$ (48)
$ 150
$ 49
$ 62
$ (13)
$ 115
$ 34
$ 47
$ (13)
$ 69
$ 17
$ 24
$ (7)
$ 64
$ 13
$ 28
$ (15)
Total Company
$ 11,797
$ 4,238
$ 2,911
$ 1,327
$ 3,001
$ 1,121
$ 778
$ 343
$ 2,837
$ 1,016
$ 701
$ 315
$ 3,018
$ 1,074
$ 700
$ 374
$ 2,941
$ 1,027
$ 732
$ 295
Metrics (Adjusted)
Rates based on Thousands
Prior U.S. Segment
36.7%
22.4%
14.4%
38.2%
23.2%
15.0%
36.7%
22.0%
14.7%
36.4%
21.4%
15.1%
35.7%
22.9%
12.8%
U.S.
38.5%
24.7%
13.8%
40.1%
25.6%
14.5%
38.4%
24.6%
13.8%
38.2%
23.4%
14.7%
37.4%
25.3%
12.0%
Canada
31.6%
32.5%
-0.9%
31.3%
33.0%
-1.7%
31.5%
33.6%
-2.2%
32.3%
31.1%
1.2%
31.5%
32.3%
-0.7%
Other High-Touch Solutions (N.A.) - Mexico/P.R.
41.7%
29.0%
12.7%
42.9%
28.4%
14.5%
43.0%
31.3%
11.7%
41.5%
28.7%
12.8%
39.5%
27.9%
11.6%
Total High-Touch Solutions (N.A.)
38.2%
25.2%
13.0%
39.6%
26.1%
13.6%
38.1%
25.1%
13.0%
37.9%
23.9%
14.0%
37.1%
25.8%
11.3%
MonotaRO
26.4%
14.1%
12.2%
26.6%
14.9%
11.7%
26.2%
14.0%
12.2%
26.1%
13.5%
12.6%
26.6%
14.3%
12.2%
Zoro
30.6%
28.9%
1.6%
30.2%
29.9%
0.3%
30.6%
29.2%
1.3%
30.1%
28.1%
2.0%
31.3%
28.5%
2.8%
Other Endless Assortment
14.7%
62.6%
-47.9%
9.4%
95.0%
-85.6%
14.7%
76.7%
-62.0%
16.4%
56.7%
-40.3%
15.2%
47.7%
-32.6%
Total Endless Assortment
27.6%
19.6%
8.0%
27.8%
20.7%
7.0%
27.4%
19.4%
8.0%
27.3%
19.0%
8.3%
27.9%
19.2%
8.6%
Cromwell
25.5%
39.8%
-14.3%
29.2%
33.9%
-4.7%
27.7%
42.5%
-14.8%
24.7%
40.8%
-16.1%
20.4%
43.9%
-23.5%
Other
33.2%
41.3%
-8.1%
36.9%
48.6%
-11.7%
30.6%
38.5%
-7.9%
21.7%
-1.8%
23.4%
N/A
N/A
N/A
Total Other
28.4%
40.4%
-11.9%
33.0%
41.1%
-8.1%
29.4%
40.1%
-10.7%
24.3%
36.0%
-11.7%
20.4%
43.7%
-23.3%
Total Company
35.9%
24.7%
11.2%
37.4%
25.9%
11.4%
35.8%
24.7%
11.1%
35.6%
23.3%
12.4%
34.9%
24.9%
10.0%
1 Please refer to tabs 'TC GAAP-NonGAAP', 'HTSNA GAAP-NonGAAP', 'EA GAAP-NonGAAP' and 'Other GAAP-NonGAAP' for reconciliations of non-GAAP measures to the most directly comparable GAAP measures.
TC GAAP-NonGAAP
GAAP to Non-GAAP Reconciliations
Total Company
In millions
FY '20
GM
Q1 '20
GM
Q2 '20
GM
Q3 '20
GM
Q4 '20
GM
Total company gross profit reported
$ 4,238
35.9%
$ 1,121
37.4%
$ 1,016
35.8%
$ 1,074
35.6%
$ 1,027
34.9%
Total company gross profit adjusted
$ 4,238
35.9%
$ 1,121
37.4%
$ 1,016
35.8%
$ 1,074
35.6%
$ 1,027
34.9%
In millions
FY '20
OM
Q1 '20
OM
Q2 '20
OM
Q3 '20
OM
Q4 '20
OM
Total company operating earnings reported
$ 1,019
8.6%
$ 159
5.3%
$ 205
7.3%
$ 380
12.6%
$ 275
9.4%
Restructuring, net (High-Touch Solutions (N.A.))
18
7
1
(1)
11
Restructuring, net (Endless Assortment)
9
-
-
-
9
Other:
Impairment charges
177
177
-
-
-
Fabory divestiture
109
-
109
-
-
Grainger China divestiture
(5)
-
-
(5)
-
Subtotal - other
281
177
109
(5)
-
Subtotal - total company
308
2.6%
184
6.1%
110
3.8%
(6)
-0.2%
20
0.6%
Total company operating earnings adjusted
$ 1,327
11.2%
$ 343
11.4%
$ 315
11.1%
$ 374
12.4%
$ 295
10.0%
Note: The reconciliations for reported SG&A to adjusted SG&A contain the same adjustments in the same amounts presented in the reported gross profit to adjusted gross profit and reported operating earnings to adjusted operating earnings tables, therefore no separate reconciliation is provided.
HTSNA GAAP-NonGAAP
GAAP to Non-GAAP Reconciliations
High-Touch Solutions (N.A.)
In millions
FY '20
GM
Q1 '20
GM
Q2 '20
GM
Q3 '20
GM
Q4 '20
GM
HTSNA gross profit reported
$ 3,524
38.2%
$ 934
39.6%
$ 838
38.1%
$ 901
37.9%
$ 851
37.1%
HTSNA gross profit adjusted
$ 3,524
38.2%
$ 934
39.6%
$ 838
38.1%
$ 901
37.9%
$ 851
37.1%
In millions
FY '20
OM
Q1 '20
OM
Q2 '20
OM
Q3 '20
OM
Q4 '20
OM
HTSNA operating earnings reported
$ 1,182
12.8%
$ 314
13.3%
$ 285
13.0%
$ 334
14.1%
$ 249
10.8%
Restructuring, net (U.S.)
6
6
-
-
-
Restructuring, net (Canada)
12
1
1
(1)
11
Subtotal - total company
18
0.2%
7
0.3%
1
0.0%
(1)
-0.1%
11
0.5%
HTSNA operating earnings adjusted
$ 1,200
13.0%
$ 321
13.6%
$ 286
13.0%
$ 333
14.0%
$ 260
11.3%
Note: The reconciliations for reported SG&A to adjusted SG&A contain the same adjustments in the same amounts presented in the reported gross profit to adjusted gross profit and reported operating earnings to adjusted operating earnings tables, therefore no separate reconciliation is provided.
EA GAAP-NonGAAP
GAAP to Non-GAAP Reconciliations
Endless Assortment
In millions
FY '20
GM
Q1 '20
GM
Q2 '20
GM
Q3 '20
GM
Q4 '20
GM
EA gross profit reported
$ 601
27.6%
$ 138
27.8%
$ 144
27.4%
$ 156
27.3%
$ 163
27.9%
EA gross profit adjusted
$ 601
27.6%
$ 138
27.8%
$ 144
27.4%
$ 156
27.3%
$ 163
27.9%
In millions
FY '20
OM
Q1 '20
OM
Q2 '20
OM
Q3 '20
OM
Q4 '20
OM
EA operating earnings reported
$ 166
7.6%
$ 35
7.0%
$ 42
8.0%
$ 48
8.3%
$ 41
7.2%
Restructuring, net (Other Endless Assortment)
9
-
-
-
9
Subtotal - total company
9
0.4%
-
0.0%
-
0.0%
-
0.0%
9
1.4%
EA operating earnings adjusted
$ 175
8.0%
$ 35
7.0%
$ 42
8.0%
$ 48
8.3%
$ 50
8.6%
Note: The reconciliations for reported SG&A to adjusted SG&A contain the same adjustments in the same amounts presented in the reported gross profit to adjusted gross profit and reported operating earnings to adjusted operating earnings tables, therefore no separate reconciliation is provided.
Other GAAP-NonGAAP
GAAP to Non-GAAP Reconciliations
Other
In millions
FY '20
GM
Q1 '20
GM
Q2 '20
GM
Q3 '20
GM
Q4 '20
GM
Other gross profit reported
$ 113
28.4%
$ 49
33.0%
$ 34
29.4%
$ 17
24.3%
$ 13
20.4%
Other gross profit adjusted
$ 113
28.4%
$ 49
33.0%
$ 34
29.4%
$ 17
24.3%
$ 13
20.4%
In millions
FY '20
OM
Q1 '20
OM
Q2 '20
OM
Q3 '20
OM
Q4 '20
OM
Other operating earnings reported
$ (329)
-82.7%
$ (190)
-126.1%
$ (122)
-105.7%
$ (2)
-4.3%
$ (15)
-23.3%
Impairment charges (Other)
177
177
-
-
-
Fabory divestiture (Other)
109
-
109
-
-
Grainger China divestiture (Other)
(5)
-
-
(5)
-
Subtotal - total company
281
70.8%
177
118.0%
109
95.0%
(5)
-7.4%
-
0.0%
Other operating earnings adjusted
$ (48)
-11.9%
$ (13)
-8.1%
$ (13)
-10.7%
$ (7)
-11.7%
$ (15)
-23.3%
Note: The reconciliations for reported SG&A to adjusted SG&A contain the same adjustments in the same amounts presented in the reported gross profit to adjusted gross profit and reported operating earnings to adjusted operating earnings tables, therefore no separate reconciliation is provided.
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W.W. Grainger Inc. published this content on 10 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2021 08:30:03 UTC.
W.W Grainger, Inc. specializes in professional distribution of industrial supplies and equipment. The group supplies businesses and institutions with maintenance equipment, industrial safety supplies, service and maintenance parts, lighting products, ventilation equipment, pumps and plumbing products, etc.
At the end of 2020, products are marketed through a network of 407 branches (of which 287 in the United States and 49 in Canada), 29 distribution centers (of which 17 in the United States and 5 in Canada), through catalogues and the Internet.
Net sales are distributed geographically as follows: the United States (72.6%), Canada (4%) and other (23.4%).