TRACTOR SUPPLY CO /DE/ Segments Disclosure
| Percent of Net Sales | ||||||||||||||||||||
| Fiscal Year | ||||||||||||||||||||
| Product Category: | 2025 | 2024 | 2023 | |||||||||||||||||
Livestock, Equine & Agriculture (a) | 27 % | 26 % | 27 | % | ||||||||||||||||
Companion Animal (b) | 24 | 24 | 25 | |||||||||||||||||
Seasonal & Recreation (c) | 24 | 24 | 22 | |||||||||||||||||
Truck, Tool & Hardware (d) | 15 | 16 | 16 | |||||||||||||||||
Clothing, Gift & Décor (e) | 10 | 10 | 10 | |||||||||||||||||
| Total | 100 | % | 100 | % | 100 | % | ||||||||||||||
| Note: Net sales by major product categories for prior periods have been reclassified to conform to the current year presentation. | ||||||||||||||||||||
| (a) | Includes livestock and equine feed & equipment, poultry, fencing, and sprayer & chemicals. | |||||||||||||||||||
| (b) | Includes food, treats and equipment for dogs, cats, and other small animals as well as dog wellness. | |||||||||||||||||||
| (c) | Includes tractor & rider, lawn & garden, bird feeding, power equipment, and other recreational products. | |||||||||||||||||||
| (d) | Includes truck accessories, trailers, generators, lubricants, batteries, and hardware and tools. | |||||||||||||||||||
| (e) | Includes clothing, footwear, toys, snacks, and decorative merchandise. | |||||||||||||||||||
| Fiscal Year | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net sales | $ | 15,524,046 | $ | 14,883,231 | $ | 14,555,741 | |||||||||||
| Less: | |||||||||||||||||
| Cost of merchandise sold | 9,869,538 | 9,486,674 | 9,327,522 | ||||||||||||||
Personnel expense (a) | 2,061,227 | 1,939,494 | 1,883,710 | ||||||||||||||
| Depreciation and amortization | 494,011 | 447,162 | 393,049 | ||||||||||||||
Other segment expenses (b) | 1,631,881 | 1,542,369 | 1,472,548 | ||||||||||||||
Interest expense, net | 69,144 | 54,592 | 46,510 | ||||||||||||||
Income tax expense | 302,158 | 311,700 | 325,176 | ||||||||||||||
Segment net income | $ | 1,096,087 | $ | 1,101,240 | $ | 1,107,226 | |||||||||||
| Reconciliation of segment profit: | |||||||||||||||||
| Adjustments and reconciling items | — | — | — | ||||||||||||||
Consolidated net income | $ | 1,096,087 | $ | 1,101,240 | $ | 1,107,226 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 23, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.