POOL CORP
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Item 2. Properties
We lease our corporate offices, which consist of approximately 60,000 square feet of office space in Covington, Louisiana, from an entity in which we have a 50% ownership interest. We own seventeen sales center facilities, which includes seven sales center facilities in Florida, three in Texas, two in Alabama, and one in each of California, Georgia, Mississippi, Tennessee and Virginia.
As part of our 2021 acquisition of Porpoise Pool & Patio, Inc., we own the corporate headquarters, which consist of approximately 46,000 square feet and the Sun Wholesale Supply facilities located in Florida, which consist of approximately 209,000 square feet. We also own a chemical re-packaging plant in Florida, which is approximately 105,000 square feet, and lease three additional properties for storage space that range in size from 39,000 square feet to 122,000 square feet.
We lease all of our other properties, and the majority of our leases have three to seven year terms. As of December 31, 2024, we had sixteen leases with remaining terms longer than seven years that expire between 2032 and 2036. Most of our leases contain renewal options, some of which involve rent increases. In addition to minimum rental payments, which are set at competitive rates, certain leases require reimbursement for taxes, maintenance and insurance. We do not believe that any single lease is material to our operations.
Our sales centers range in size from approximately 2,000 square feet to 95,000 square feet and generally consist of warehouse, counter, display and office space. Our centralized shipping locations (CSLs) range in size from approximately 115,000 square feet to 185,000 square feet.
We believe that our facilities are well maintained, suitable for our business and occupy sufficient space to meet our operating needs. As part of our normal business, we regularly evaluate sales center performance and site suitability and may relocate a sales center or consolidate multiple locations if a sales center is redundant in a market, underperforming or otherwise deemed unsuitable. We do not believe that any single lease is material to our operations.
The table below summarizes the changes in our sales centers during the year ended December 31, 2024:
| Network | 12/31/23 | NewLocations | Consolidated/ClosedLocations | AcquiredLocations | 12/31/24 |
|---|---|---|---|---|---|
| SCP (1) | 209 | 7 | — | 2 | 218 |
| Superior | 74 | — | — | — | 74 |
| Horizon | 92 | 1 | (3) | — | 90 |
| NPT (2) | 17 | 1 | — | — | 18 |
| Total Domestic | 392 | 9 | (3) | 2 | 400 |
| SCP International | 47 | 1 | — | — | 48 |
| Total | 439 | 10 | (3) | 2 | 448 |
(1)At December 31, 2024, this total includes two distribution locations for Sun Wholesale Supply. We also own and operate a chemical re-packaging plant and one Pinch A Penny retail store. At December 31, 2023, we owned three Pinch A Penny retail stores and sold two of these in 2024.
(2)In addition to the stand-alone NPT sales centers, there are 117 SCP and Superior locations that have consumer showrooms and serve as stocking locations that feature NPT brand tile and composite finish products.
The tables below identify the number of sales centers in each state, territory or country by distribution network as of December 31, 2024:
| Location | SCP | Horizon | Superior | NPT | Total |
|---|---|---|---|---|---|
| United States | |||||
| California | 29 | 20 | 25 | 7 | 81 |
| Florida | 44 | 17 | 5 | — | 66 |
| Texas | 31 | 20 | 5 | 3 | 59 |
| Arizona | 8 | 11 | 8 | 3 | 30 |
| Georgia | 8 | — | 2 | 1 | 11 |
| Washington | 3 | 8 | — | — | 11 |
| Tennessee | 6 | — | 4 | — | 10 |
| Nevada | 2 | 3 | 3 | 1 | 9 |
| New York | 9 | — | — | — | 9 |
| North Carolina | 5 | 1 | 2 | 1 | 9 |
| Alabama | 5 | — | 2 | — | 7 |
| New Jersey | 5 | — | 2 | — | 7 |
| Pennsylvania | 6 | — | 1 | — | 7 |
| Virginia | 3 | 3 | 1 | — | 7 |
| Louisiana | 5 | — | — | 1 | 6 |
| Illinois | 4 | — | 1 | — | 5 |
| Indiana | 2 | — | 3 | — | 5 |
| Oregon | 1 | 4 | — | — | 5 |
| South Carolina | 4 | — | 1 | — | 5 |
| Colorado | 1 | 1 | 2 | — | 4 |
| Missouri | 3 | — | 1 | — | 4 |
| Ohio | 2 | — | 2 | — | 4 |
| Oklahoma | 2 | — | 1 | 1 | 4 |
| Arkansas | 3 | — | — | — | 3 |
| Idaho | 1 | 2 | — | — | 3 |
| Mississippi | 3 | — | — | — | 3 |
| Massachusetts | 3 | — | — | — | 3 |
| Michigan | 3 | — | — | — | 3 |
| Connecticut | 2 | — | — | — | 2 |
| Kansas | 2 | — | — | — | 2 |
| Kentucky | 1 | — | 1 | — | 2 |
| Minnesota | 1 | — | 1 | — | 2 |
| Utah | 2 | — | — | — | 2 |
| Wisconsin | 1 | — | 1 | — | 2 |
| Hawaii | 1 | — | — | — | 1 |
| Iowa | 1 | — | — | — | 1 |
| Maryland | 1 | — | — | — | 1 |
| Nebraska | 1 | — | — | — | 1 |
| New Mexico | 1 | — | — | — | 1 |
| North Dakota | 1 | — | — | — | 1 |
| Puerto Rico | 1 | — | — | — | 1 |
| West Virginia | 1 | — | — | — | 1 |
| Total United States | 218 | 90 | 74 | 18 | 400 |
| Location | SCP | Horizon | Superior | NPT | Total |
|---|---|---|---|---|---|
| International | |||||
| Canada | 17 | — | — | — | 17 |
| France | 9 | — | — | — | 9 |
| Australia | 6 | — | — | — | 6 |
| Mexico | 5 | — | — | — | 5 |
| Portugal | 3 | — | — | — | 3 |
| Italy | 2 | — | — | — | 2 |
| Spain | 2 | — | — | — | 2 |
| Belgium | 1 | — | — | — | 1 |
| Croatia | 1 | — | — | — | 1 |
| Germany | 1 | — | — | — | 1 |
| United Kingdom | 1 | — | — | — | 1 |
| Total International | 48 | — | — | — | 48 |
| Total | 266 | 90 | 74 | 18 | 448 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.