Pool (POOL) 10-Q 30 Jul 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2024
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-26640
Entity Registrant Name	POOL CORPORATION
Entity Central Index Key	0000945841
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3943363
Entity Address, Address Line One	109 Northpark Boulevard,
Entity Address, City or Town	Covington,
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70433-5001
City Area Code	(985)
Local Phone Number	892-5521
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	POOL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,257,928

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,769,784	$ 1,857,363	$ 2,890,594	$ 3,064,138
Cost of sales	1,239,643	1,289,580	2,021,894	2,126,599
Gross profit	530,141	567,783	868,700	937,539
Selling and administrative expenses	258,660	240,774	488,499	464,758
Operating income	271,481	327,009	380,201	472,781
Interest and other non-operating expenses, net	14,044	16,892	27,463	32,728
Income before income taxes and equity earnings	257,437	310,117	352,738	440,053
Provision for income taxes	65,058	77,987	81,531	106,260
Equity earnings in unconsolidated investments, net	60	120	117	156
Net income	$ 192,439	$ 232,250	$ 271,324	$ 333,949
Earnings per share:
Basic (in dollars per share)	$ 5.02	$ 5.95	$ 7.07	$ 8.55
Diluted (in dollars per share)	$ 4.99	$ 5.91	$ 7.03	$ 8.48
Weighted average shares outstanding: [Abstract]
Basic (in shares)	38,124	38,837	38,164	38,857
Diluted (in shares)	38,325	39,115	38,399	39,155
Cash dividends declared per common share	$ 1.20	$ 1.10	$ 2.30	$ 2.10

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 192,439	$ 232,250	$ 271,324	$ 333,949
Other comprehensive income (loss):
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(4,684)	2,801	(8,352)	5,271
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(1,376)	3,497	850	(313)
Total other comprehensive (loss) income	(6,060)	6,298	(7,502)	4,958
Comprehensive income	$ 186,379	$ 238,548	$ 263,822	$ 338,907

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss) before Reclassifications, Tax	$ 459	$ (1,166)	$ (284)	$ 104

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 96,894	$ 66,540	$ 53,225
Receivables, net	169,849	145,723	203,459
Receivables pledged under receivables facility	407,680	197,187	427,491
Product inventories, net	1,295,600	1,365,466	1,392,886
Prepaid expenses and other current assets	35,789	40,444	19,994
Total current assets	2,005,812	1,815,360	2,097,055
Property and equipment, net	241,871	223,929	209,541
Goodwill Balances	699,686	700,078	699,918
Other intangible assets, net	294,684	298,282	302,444
Equity interest investments	1,399	1,305	1,278
Operating lease assets	313,840	305,688	279,468
Other assets	83,622	83,426	90,875
Total assets	3,640,914	3,428,068	3,680,579
Current liabilities:
Accounts payable	515,645	508,672	485,100
Accrued expenses and other current liabilities	152,978	134,676	170,658
Short-term borrowings	44,726	38,203	36,219
Current operating lease liabilities	94,024	89,215	79,763
Total current liabilities	807,373	770,766	771,740
Deferred income taxes	67,595	67,421	58,151
Long-term debt, net	1,071,827	1,015,117	1,148,367
Other long-term liabilities	44,135	40,028	39,236
Non-current operating lease liabilities	226,315	221,949	204,553
Total liabilities	$ 2,217,245	$ 2,115,281	$ 2,222,047
Common Stock, Shares, Outstanding	38,289,105	38,354,829	39,048,604
Common stock, authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Stockholders' equity:
Common stock	$ 38	$ 38	$ 39
Additional paid-in capital	626,347	606,177	593,081
Retained earnings	798,204	699,990	854,559
Accumulated other comprehensive (loss) income	(920)	6,582	10,853
Total stockholders’ equity	1,423,669	1,312,787	1,458,532
Total liabilities and stockholders' equity	$ 3,640,914	$ 3,428,068	$ 3,680,579

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001	$ 0.001
Common stock, authorized (in shares)	100,000,000		100,000,000	100,000,000
Common Stock, Shares, Outstanding	38,289,105	38,462,000	38,354,829	39,048,604

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net Income	$ 271,324	$ 333,949
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation	17,591	15,292
Amortization	4,201	4,237
Share-based compensation	10,344	9,996
Equity in earnings of unconsolidated investments, net	(117)	(156)
Other	(1,246)	3,563
Changes in operating assets and liabilities, net of effects of acquisitions:
Receivables	(232,647)	(276,945)
Product inventories	66,975	201,380
Prepaid expenses and other assets	38,231	(4,423)
Accounts payable	6,166	76,140
Accrued expenses and other liabilities	(8,720)	13,744
Net Cash Provided by operating activities	172,102	376,777
Investing activities
Acquisition of businesses, net of cash acquired	(4,435)	(11,500)
Purchases of property and equipment, net of sale proceeds	(34,928)	(30,191)
Other Investments	1,018	(169)
Net cash used in investing activities	(38,345)	(41,860)
Financing activities
Proceeds from revolving line of credit	756,300	698,795
Payments on revolving line of credit	(830,400)	(1,001,399)
Proceeds from asset-backed financing	467,000	388,900
Payments on asset-backed financing	(324,000)	(240,200)
Payments on term facility	(12,500)	(47,313)
Proceeds from short-term borrowings and current portion of long-term debt	8,085	17,859
Payments on short-term borrowings and current portion of long-term debt	(1,562)	(19,182)
Payments of deferred and contingent acquisition consideration	0	(551)
Proceeds from stock issued under share-based compensation plans	9,826	7,309
Payments of cash dividends	(88,287)	(82,018)
Repurchases of common stock	(84,496)	(50,742)
Net cash (used in) provided by financing activities	(100,034)	(328,542)
Effect of exchange rate changes on cash and cash equivalents	(3,369)	1,259
Change in cash and cash equivalents	30,354	7,634
Cash and cash equivalents at beginning of period	66,540	45,591
Cash and cash equivalents at end of period	$ 96,894	$ 53,225

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Dec. 31, 2022		39,069,000
Balance at Dec. 31, 2022	$ 1,235,194	$ 39	$ 575,776	$ 653,484	$ 5,895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	101,699	0	0	101,699	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	2,469	0	0	0	2,469
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	1,269
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(3,809)	$ 0	0	0	(3,809)
Repurchases of common stock, net of retirements (shares)		(144,000)
Stock Repurchased and Retired During Period, Value	(50,549)	$ 0	0	(50,549)	0
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	4,923	$ 0	4,923	0	0
Issuance of shares under share-based compensation plans (shares)		108,000
Issuance of stock under share-based compensation plans	5,896	$ 0	5,896	0	0
Dividends, Common Stock, Cash	(39,073)	$ 0	0	(39,073)	0
Balance (in shares) at Mar. 31, 2023		39,033,000
Balance at Mar. 31, 2023	1,256,750	$ 39	586,595	665,561	4,555
Balance (in shares) at Dec. 31, 2022		39,069,000
Balance at Dec. 31, 2022	1,235,194	$ 39	575,776	653,484	5,895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	333,949			333,949
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	5,271
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ (313)
Balance (in shares) at Jun. 30, 2023	39,048,604	39,049,000
Balance at Jun. 30, 2023	$ 1,458,532	$ 39	593,081	854,559	10,853
Balance (in shares) at Mar. 31, 2023		39,033,000
Balance at Mar. 31, 2023	1,256,750	$ 39	586,595	665,561	4,555
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	232,250	0	0	232,250	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	2,801	0	0	0	2,801
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	(1,166)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	3,497	$ 0	0	0	3,497
Repurchases of common stock, net of retirements (shares)		0
Stock Repurchased and Retired During Period, Value	0	$ 0	0	0	0
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	5,073	$ 0	5,073	0	0
Issuance of shares under share-based compensation plans (shares)		16,000
Issuance of stock under share-based compensation plans	1,413	$ 0	1,413	0	0
Dividends, Common Stock, Cash	(42,945)	0	0	(42,945)	0
Stockholders' Equity, Other	$ 307	$ 0		307	0
Balance (in shares) at Jun. 30, 2023	39,048,604	39,049,000
Balance at Jun. 30, 2023	$ 1,458,532	$ 39	593,081	854,559	10,853
Balance (in shares) at Dec. 31, 2023	38,354,829	38,355,000
Balance at Dec. 31, 2023	$ 1,312,787	$ 38	606,177	699,990	6,582
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	78,885	0	0	78,885	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(3,668)	0	0	0	(3,668)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	(742)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	2,226	$ 0	0	0	2,226
Repurchases of common stock, net of retirements (shares)		(41,000)
Stock Repurchased and Retired During Period, Value	(16,304)	$ 0	0	(16,304)	0
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	5,328	$ 0	5,328	0	0
Issuance of shares under share-based compensation plans (shares)		148,000
Issuance of stock under share-based compensation plans	8,773	$ 0	8,773	0	0
Dividends, Common Stock, Cash	$ (42,343)	0	0	(42,343)	0
Balance (in shares) at Mar. 31, 2024	38,462,000
Balance at Mar. 31, 2024	$ 1,345,684	$ 38	620,278	720,228	5,140
Balance (in shares) at Dec. 31, 2023	38,354,829	38,355,000
Balance at Dec. 31, 2023	$ 1,312,787	$ 38	606,177	699,990	6,582
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	271,324			271,324
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(8,352)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 850
Balance (in shares) at Jun. 30, 2024	38,289,105	38,289,000
Balance at Jun. 30, 2024	$ 1,423,669	$ 38	626,347	798,204	(920)
Balance (in shares) at Mar. 31, 2024	38,462,000
Balance at Mar. 31, 2024	$ 1,345,684	38	620,278	720,228	5,140
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	192,439	0	0	192,439	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(4,684)	0	0	0	(4,684)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	459
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(1,376)	$ 0	0	0	(1,376)
Repurchases of common stock, net of retirements (shares)		(181,000)
Stock Repurchased and Retired During Period, Value	(68,519)	$ 0	0	(68,519)	0
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	5,016	$ 0	5,016	0	0
Issuance of shares under share-based compensation plans (shares)		8,000
Issuance of stock under share-based compensation plans	1,053	$ 0	1,053	0	0
Dividends, Common Stock, Cash	$ (45,944)	$ 0	0	(45,944)	0
Balance (in shares) at Jun. 30, 2024	38,289,105	38,289,000
Balance at Jun. 30, 2024	$ 1,423,669	$ 38	$ 626,347	$ 798,204	$ (920)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	$ 459	$ (742)	$ (1,166)	$ 1,269

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Description of New Accounting Pronouncements Not yet Adopted	Summary of Significant Accounting Policies Pool Corporation (the Company , which may also be referred to as we, us or our ) prepared the unaudited interim Consolidated Financial Statements following U.S. generally accepted accounting principles (GAAP) and the requirements of the Securities and Exchange Commission (SEC) for interim financial information. As permitted under those rules, we have condensed or omitted certain footnotes and other financial information required for complete financial statements. The interim Consolidated Financial Statements include all normal and recurring adjustments that are necessary for a fair presentation of our financial position and operating results. All significant intercompany accounts and intercompany transactions have been eliminated. A description of our significant accounting policies is included in our 2023 Annual Report on Form 10-K. You should read the interim Consolidated Financial Statements in conjunction with the Consolidated Financial Statements and accompanying notes in our 2023 Annual Report on Form 10-K. The results for our three and six-month periods ended June 30, 2024, are not necessarily indicative of the expected results for our fiscal year ending December 31, 2024. Income Taxes We reduce federal and state income taxes payable by the tax benefits associated with the exercise of nonqualified stock options and the lapse of restrictions on restricted stock awards. To the extent realized tax deductions exceed the amount of previously recognized deferred tax benefits related to share-based compensation, we record an excess tax benefit. We record all excess tax benefits as a component of income tax benefit or expense on the Consolidated Statements of Income in the period in which stock options are exercised or restrictions on restricted stock awards lapse. We recorded excess tax benefits of $0.4 million in the second quarter of 2024 compared to $0.6 million in the second quarter of 2023 and $7.8 million in the six months ended June 30, 2024, compared to $5.4 million in the six months ended June 30, 2023. Retained Earnings We account for the retirement of repurchased shares as a reduction of Retained earnings. As of June 30, 2024, the Retained earnings on our Consolidated Balance Sheets reflects cumulative net income, the cumulative impact of adjustments for changes in accounting pronouncements, share retirements since the inception of our share repurchase programs of $2.5 billion and cumulative dividends of $1.2 billion . Accumulated Other Comprehensive (Loss) Income The table below presents the components of our Accumulated other comprehensive (loss) income balance (in thousands): June 30, December 31, 2024 2023 2023 Foreign currency translation adjustments $ (21,051) $ (14,338) $ (12,699) Unrealized gains on interest rate swaps, net of tax 20,131 25,191 19,281 Accumulated other comprehensive (loss) income $ (920) $ 10,853 $ 6,582 Recent Accounting Pronouncements Pending Adoption The following table summarizes recent accounting pronouncements that we plan to adopt in future periods: Standard Description Effective Date Effect on Financial Statements and Other Significant Matters Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes- Improvements to Income Tax Disclosures , which will require enhancements and further transparency to various income tax disclosures, most notably the tax rate reconciliation and income taxes paid. Annual periods beginning after December 15, 2024 on a prospective basis. Retrospective application for all periods presented is permitted. Early adoption is also permitted. We are currently evaluating the effect this standard will have on our disclosures. ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures, which intends to improve reportable segment disclosures by requiring enhanced disclosures about significant segment expenses, enhance interim disclosure requirements, refine situations in which an entity can disclose multiple segment measures of profit or loss and provide advanced segment disclosure requirements for entities with a single reportable segment, as well as other disclosure requirements. Annual periods beginning after December 15, 2023 on a retrospective basis for all periods presented. Early adoption is permitted. We are currently evaluating the effect this standard will have on our disclosures. ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative , which will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives and transfers of financial assets. The amendments in ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the effect this standard will have on our disclosures.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We calculate basic and diluted earnings per share using the two-class method. Earnings per share under the two-class method is calculated using net income attributable to common stockholders, which is net income reduced by the earnings allocated to participating securities. Our participating securities include share-based payment awards that contain a non-forfeitable right to receive dividends and are considered to participate in undistributed earnings with common shareholders. Participating securities excluded from weighted average common shares outstanding were 208,000 for the three months ended June 30, 2024 and 205,000 for the three months ended June 30, 2023, and 206,000 for the six months ended June 30, 2024 and 209,000 for the six months ended June 30, 2023. The table below presents the computation of earnings per share, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except per share data): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income $ 192,439 $ 232,250 $ 271,324 $ 333,949 Amounts allocated to participating securities (1,018) (1,219) (1,417) (1,779) Net income attributable to common stockholders $ 191,421 $ 231,031 $ 269,907 $ 332,170 Weighted average common shares outstanding: Basic 38,124 38,837 38,164 38,857 Effect of dilutive securities: Stock options and employee stock purchase plan 201 278 235 298 Diluted 38,325 39,115 38,399 39,155 Earnings per share attributable to common stockholders: Basic $ 5.02 $ 5.95 $ 7.07 $ 8.55 Diluted $ 4.99 $ 5.91 $ 7.03 $ 8.48 Anti-dilutive stock options excluded from diluted earnings per share computations (1) 56 64 57 65 (1) Since these options have exercise prices that are higher than the average market prices of our common stock, including them in the calculation would have an anti-dilutive effect on earnings per share.

Fair Value Measurements and Int

Fair Value Measurements and Interest Rate Swaps	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements and Interest Rate Swaps	Fair Value Measurements and Interest Rate Swaps Recurring Fair Value Measurements Our assets and liabilities that are measured at fair value on a recurring basis include the unrealized gains or losses on our interest rate swap contracts and our deferred compensation plan asset and liability. The three levels of the fair value hierarchy under the accounting guidance are described below: Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 Inputs to the valuation methodology include: • quoted prices for similar assets or liabilities in active markets; • quoted prices for identical or similar assets or liabilities in inactive markets; • inputs other than quoted prices that are observable for the asset or liability; or • inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The table below presents our assets and liabilities measured and recorded at fair value on a recurring basis (in thousands): Fair Value at June 30, Input Level Classification 2024 2023 Assets Unrealized gains on interest rate swaps Level 2 Prepaid expenses and other current assets $ 3,795 $ — Unrealized gains on interest rate swaps Level 2 Other assets 23,091 33,632 Deferred compensation plan asset Level 1 Other assets 17,148 14,633 Liabilities Deferred compensation plan liability Level 1 Other long-term liabilities $ 17,148 $ 14,633 Interest Rate Swaps We utilize interest rate swap contracts and forward-starting interest rate swap contracts to reduce our exposure to fluctuations in variable interest rates for future interest payments on a portion of our variable rate borrowings. We use significant other observable market data or assumptions (Level 2 inputs) in determining the fair value of our interest rate swap contracts and forward-starting interest rate swap contract that we believe market participants would use in pricing similar assets or liabilities, including assumptions about counterparty risk. Our fair value estimates reflect an income approach based on the terms of the interest rate swap contracts and inputs corroborated by observable market data including interest rate curves. We recognize any differences between the variable interest rate in effect and the fixed interest rates per our swap contracts as an adjustment to interest expense over the life of the swaps. To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, we record the changes in the estimated fair value of our interest rate swap contracts to Accumulated other comprehensive (loss) income on the Consolidated Balance Sheets. We currently have two swap contracts in place. These swap contracts were previously forward-starting and convert the variable interest rate to a fixed interest rate on a portion of our variable rate borrowings. Interest expense related to the notional amounts under these swap contracts is based on the fixed rates plus the applicable margin on a portion of our variable rate borrowings. Changes in the estimated fair value of these interest rate swap contracts are recorded to Accumulated other comprehensive (loss) income on the Consolidated Balance Sheets. The following table provides additional details related to these swap contracts: Derivative Inception Date Effective Date Termination Date Notional Amount Fixed Interest Rate Interest rate swap 1 February 5, 2020 February 26, 2021 February 28, 2025 $150.0 1.3260% Interest rate swap 2 March 9, 2020 September 29, 2022 February 26, 2027 $150.0 0.6690% For the interest rate swap contracts in effect at June 30, 2024, a portion of the change in the estimated fair value between periods relates to future interest expense. Recognition of the change in fair value between periods attributable to accrued interest is reclassified from Accumulated other comprehensive (loss) income on the Consolidated Balance Sheets to Interest and other non-operating expenses, net on the Consolidated Statements of Income. These amounts were not material in the three and six-month periods ended June 30, 2024 or June 30, 2023. We also have in place a forward-starting interest rate swap contract to extend the hedged period for future interest payments on a portion of our variable rate borrowings. The following table provides details related to our forward-starting interest rate swap contract: Derivative Inception Date Effective Date Termination Date Notional Fixed Forward-starting interest rate swap March 9, 2020 February 28, 2025 February 26, 2027 $150.0 0.7630% Failure of any of our swap counterparties would result in the loss of any potential benefit to us under our swap agreements. In this case, we would still be obligated to pay the variable interest payments underlying our debt agreements. Additionally, failure of our swap counterparties would not eliminate our obligation to continue to make payments under our existing swap agreements if we were in a net pay position. Our interest rate swap contracts and forward-starting interest rate swap contract are subject to master netting arrangements. According to our accounting policy, we do not offset the fair values of assets with the fair values of liabilities related to these contracts. Other Our deferred compensation plan asset represents investments in securities (primarily mutual funds) traded in an active market (Level 1 inputs) held for the benefit of certain employees as part of our deferred compensation plan. We record an equal and offsetting deferred compensation plan liability, which represents our obligation to participating employees. Changes in the fair value of the plan asset and liability are reflected in Selling and administrative expenses on the Consolidated Statements of Income. The carrying values of cash and cash equivalents, receivables, accounts payable and accrued liabilities approximate fair value due to the short maturity of those instruments. The carrying value of our long-term debt approximates its fair value. Our determination of the estimated fair value reflects a discounted cash flow model using our estimates, including assumptions related to borrowing rates (Level 3 inputs).

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The table below presents the components of our debt (in thousands): June 30, 2024 2023 Variable rate debt Short-term borrowings $ 7,053 $ — Current portion of long-term debt: Australian credit facility 12,673 11,219 Current portion of term loans under credit facility 25,000 25,000 Short-term borrowings and current portion of long-term debt $ 44,726 $ 36,219 Long-term portion: Revolving credit facility $ 178,400 $ 217,106 Term loan under credit facility 450,000 475,000 Term facility 109,938 109,938 Receivables securitization facility 334,700 348,200 Less: financing costs, net 1,211 1,877 Long-term debt, net 1,071,827 1,148,367 Total debt $ 1,116,553 $ 1,184,586 Our accounts receivable securitization facility (the Receivables Facility) provides for the sale of certain of our receivables to a wholly-owned subsidiary (the Securitization Subsidiary). The Securitization Subsidiary transfers variable undivided percentage interests in the receivables and related rights to certain third-party financial institutions in exchange for cash proceeds, limited to the applicable funding capacities. We account for the sale of the receivable interests as a secured borrowing on our Consolidated Balance Sheets. The receivables subject to the agreement collateralize the cash proceeds received from the third-party financial institutions. We classify the entire outstanding balance as Long-term debt, net on our Consolidated Balance Sheets as we intend and have the ability to refinance the obligations on a long-term basis. We present the receivables that collateralize the cash proceeds separately as Receivables pledged under receivables facility on our Consolidated Balance Sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income	$ 192,439	$ 78,885	$ 232,250	$ 101,699	$ 271,324	$ 333,949

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Pool Corporation (the Company , which may also be referred to as we, us or our ) prepared the unaudited interim Consolidated Financial Statements following U.S. generally accepted accounting principles (GAAP) and the requirements of the Securities and Exchange Commission (SEC) for interim financial information. As permitted under those rules, we have condensed or omitted certain footnotes and other financial information required for complete financial statements. The interim Consolidated Financial Statements include all normal and recurring adjustments that are necessary for a fair presentation of our financial position and operating results. All significant intercompany accounts and intercompany transactions have been eliminated.
Income Taxes	We reduce federal and state income taxes payable by the tax benefits associated with the exercise of nonqualified stock options and the lapse of restrictions on restricted stock awards. To the extent realized tax deductions exceed the amount of previously recognized deferred tax benefits related to share-based compensation, we record an excess tax benefit. We record all excess tax benefits as a component of income tax benefit or expense on the Consolidated Statements of Income in the period in which stock options are exercised or restrictions on restricted stock awards lapse.
Retained Earnings	We account for the retirement of repurchased shares as a reduction of Retained earnings.
Recent Accounting Pronouncements Pending Adoption	Recent Accounting Pronouncements Pending Adoption The following table summarizes recent accounting pronouncements that we plan to adopt in future periods: Standard Description Effective Date Effect on Financial Statements and Other Significant Matters Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes- Improvements to Income Tax Disclosures , which will require enhancements and further transparency to various income tax disclosures, most notably the tax rate reconciliation and income taxes paid. Annual periods beginning after December 15, 2024 on a prospective basis. Retrospective application for all periods presented is permitted. Early adoption is also permitted. We are currently evaluating the effect this standard will have on our disclosures. ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures, which intends to improve reportable segment disclosures by requiring enhanced disclosures about significant segment expenses, enhance interim disclosure requirements, refine situations in which an entity can disclose multiple segment measures of profit or loss and provide advanced segment disclosure requirements for entities with a single reportable segment, as well as other disclosure requirements. Annual periods beginning after December 15, 2023 on a retrospective basis for all periods presented. Early adoption is permitted. We are currently evaluating the effect this standard will have on our disclosures. ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative , which will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives and transfers of financial assets. The amendments in ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the effect this standard will have on our disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Accumulated Other Comprehensive Income	The table below presents the components of our Accumulated other comprehensive (loss) income balance (in thousands): June 30, December 31, 2024 2023 2023 Foreign currency translation adjustments $ (21,051) $ (14,338) $ (12,699) Unrealized gains on interest rate swaps, net of tax 20,131 25,191 19,281 Accumulated other comprehensive (loss) income $ (920) $ 10,853 $ 6,582
Schedule of Recent Accounting Pronouncements	The following table summarizes recent accounting pronouncements that we plan to adopt in future periods: Standard Description Effective Date Effect on Financial Statements and Other Significant Matters Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes- Improvements to Income Tax Disclosures , which will require enhancements and further transparency to various income tax disclosures, most notably the tax rate reconciliation and income taxes paid. Annual periods beginning after December 15, 2024 on a prospective basis. Retrospective application for all periods presented is permitted. Early adoption is also permitted. We are currently evaluating the effect this standard will have on our disclosures. ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures, which intends to improve reportable segment disclosures by requiring enhanced disclosures about significant segment expenses, enhance interim disclosure requirements, refine situations in which an entity can disclose multiple segment measures of profit or loss and provide advanced segment disclosure requirements for entities with a single reportable segment, as well as other disclosure requirements. Annual periods beginning after December 15, 2023 on a retrospective basis for all periods presented. Early adoption is permitted. We are currently evaluating the effect this standard will have on our disclosures. ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative , which will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives and transfers of financial assets. The amendments in ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the effect this standard will have on our disclosures.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Computation of earnings per share and reconciliation of basic and diluted weighted average common shares outstanding	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income $ 192,439 $ 232,250 $ 271,324 $ 333,949 Amounts allocated to participating securities (1,018) (1,219) (1,417) (1,779) Net income attributable to common stockholders $ 191,421 $ 231,031 $ 269,907 $ 332,170 Weighted average common shares outstanding: Basic 38,124 38,837 38,164 38,857 Effect of dilutive securities: Stock options and employee stock purchase plan 201 278 235 298 Diluted 38,325 39,115 38,399 39,155 Earnings per share attributable to common stockholders: Basic $ 5.02 $ 5.95 $ 7.07 $ 8.55 Diluted $ 4.99 $ 5.91 $ 7.03 $ 8.48 Anti-dilutive stock options excluded from diluted earnings per share computations (1) 56 64 57 65

Fair Value Measurements and I_2

Fair Value Measurements and Interest Rate Swaps (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Estimated fair value of contracts	The table below presents our assets and liabilities measured and recorded at fair value on a recurring basis (in thousands): Fair Value at June 30, Input Level Classification 2024 2023 Assets Unrealized gains on interest rate swaps Level 2 Prepaid expenses and other current assets $ 3,795 $ — Unrealized gains on interest rate swaps Level 2 Other assets 23,091 33,632 Deferred compensation plan asset Level 1 Other assets 17,148 14,633 Liabilities Deferred compensation plan liability Level 1 Other long-term liabilities $ 17,148 $ 14,633
Schedule of Interest Rate Derivatives	The following table provides additional details related to these swap contracts: Derivative Inception Date Effective Date Termination Date Notional Amount Fixed Interest Rate Interest rate swap 1 February 5, 2020 February 26, 2021 February 28, 2025 $150.0 1.3260% Interest rate swap 2 March 9, 2020 September 29, 2022 February 26, 2027 $150.0 0.6690% Derivative Inception Date Effective Date Termination Date Notional Fixed Forward-starting interest rate swap March 9, 2020 February 28, 2025 February 26, 2027 $150.0 0.7630%

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The table below presents the components of our debt (in thousands): June 30, 2024 2023 Variable rate debt Short-term borrowings $ 7,053 $ — Current portion of long-term debt: Australian credit facility 12,673 11,219 Current portion of term loans under credit facility 25,000 25,000 Short-term borrowings and current portion of long-term debt $ 44,726 $ 36,219 Long-term portion: Revolving credit facility $ 178,400 $ 217,106 Term loan under credit facility 450,000 475,000 Term facility 109,938 109,938 Receivables securitization facility 334,700 348,200 Less: financing costs, net 1,211 1,877 Long-term debt, net 1,071,827 1,148,367 Total debt $ 1,116,553 $ 1,184,586

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Excess tax benefit	$ 0.4	$ 0.6	$ 7.8	$ 5.4

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Retained Earnings (Details) $ in Millions	Jun. 30, 2024 USD ($)
Retained Earnings (Accumulated Deficit) [Abstract]
Cumulative share repurchases	$ 2,500
Cumulative dividends	$ 1,200

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive (loss) income	$ (920)	$ 6,582	$ 10,853
AOCI Attributable to Parent
Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive (loss) income	(920)	6,582	10,853
Foreign currency translation adjustments
Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive (loss) income	(21,051)	(12,699)	(14,338)
Unrealized (losses) gains on interest rate swaps, net of tax
Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive (loss) income	$ 20,131	$ 19,281	$ 25,191

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Income	$ 192,439	$ 78,885	$ 232,250	$ 101,699	$ 271,324	$ 333,949
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	1,018		1,219		1,417	1,779
Net Income (Loss) Available to Common Stockholders, Basic	$ 191,421		$ 231,031		$ 269,907	$ 332,170
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive stock options excluded from diluted earnings per share computations (in shares)	56		64		57	65
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights	208,000		205,000		206,000	209,000
Weighted average shares outstanding: [Abstract]
Basic (in shares)	38,124		38,837		38,164	38,857
Effect of dilutive securities: [Abstract]
Stock options and employee stock purchase plan (in shares)	201		278		235	298
Diluted (in shares)	38,325		39,115		38,399	39,155
Earnings Per Share, Basic [Abstract]
Basic (in dollars per share)	$ 5.02		$ 5.95		$ 7.07	$ 8.55
Earnings Per Share, Basic and Diluted [Abstract]
Diluted (in dollars per share)	$ 4.99		$ 5.91		$ 7.03	$ 8.48

Acquisitions (Details)

Acquisitions (Details) - numberOfReportingUnits	1 Months Ended
	May 31, 2024	Jan. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	May 31, 2023	Mar. 31, 2023
ARIZONA | Pro-Water Irrigation & Landscape Supply, Inc.
Business Acquisition [Line Items]
Business Combination, Number of Locations						2
ALABAMA | Pioneer Pool Products, Inc.
Business Acquisition [Line Items]
Business Combination, Number of Locations				1
NORTH DAKOTA | Recreation Supply Company
Business Acquisition [Line Items]
Business Combination, Number of Locations					1
PORTUGAL | A.C. Solucoes para Piscinas, Lda.
Business Acquisition [Line Items]
Business Combination, Number of Locations			1
MISSISSIPPI | Shoreline Pool Distribution
Business Acquisition [Line Items]
Business Combination, Number of Locations		1
GEORGIA | Swimline Distributors, Inc.
Business Acquisition [Line Items]
Business Combination, Number of Locations	1

Fair Value Measurements and I_3

Fair Value Measurements and Interest Rate Swaps - Recurring Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Plan Assets	$ 17,148	$ 14,633
Deferred Compensation Liability, Classified, Noncurrent	17,148	14,633
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gains on interest rate swaps	23,091	33,632
Derivative Asset, Current	$ 3,795	$ 0

Fair Value Measurements and I_4

Fair Value Measurements and Interest Rate Swaps - Interest Rate Swaps (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Mar. 09, 2020	Feb. 05, 2020
Interest rate swap 1
Derivative [Line Items]
Effective Date	Feb. 26, 2021
Termination Date	Feb. 28, 2025
Notional Amount (in millions)			$ 150,000
Fixed Interest Rate			1.326%
Interest rate swap 2
Derivative [Line Items]
Effective Date	Sep. 29, 2022
Termination Date	Feb. 26, 2027
Notional Amount (in millions)		$ 150,000
Fixed Interest Rate		0.669%

Fair Value Measurements and I_5

Fair Value Measurements and Interest Rate Swaps - Forward-Starting Interest Rate Swaps (Details) - Forward-starting interest rate swap - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Mar. 09, 2020
Derivative [Line Items]
Effective Date	Feb. 28, 2025
Termination Date	Feb. 26, 2027
Derivative, Notional Amount		$ 150
Fixed Interest Rate		0.763%

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Australian credit facility	$ 12,673	$ 11,219
Line of Credit, Current	25,000	25,000
Short-term borrowings and current portion of long-term debt	44,726	36,219
Long-term portion:
Less: financing costs, net	1,211	1,877
Long-term debt, net	1,071,827	1,148,367
Total debt	1,116,553	1,184,586
Other Short-Term Borrowings	7,053	0
Revolving Credit Facility
Long-term portion:
Long-term debt, gross	178,400	217,106
Term loan under credit facility
Long-term portion:
Term facility	450,000	475,000
Term Facility [Member]
Long-term portion:
Term facility	109,938	109,938
Receivables Securitization Facility
Long-term portion:
Long-term debt, gross	$ 334,700	$ 348,200