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Segment Information
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company is organized into three reporting segments. The segments are defined by the regions where the Company’s products are manufactured, marketed and distributed to the Company’s customers. The three regional segments are the North America segment, comprising primarily the United States and Canada, the Europe segment and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the South Pacific and the Middle East. These segments are similar in several ways, including the types of materials, the production processes, the distribution channels and the product applications.
 
The Administrative & All Other column primarily includes expenses such as self-insured workers compensation claims for employees of the Company’s venting business, which was sold in 2010, stock-based compensation for certain members of management, interest expense, foreign exchange gains or losses and income tax expense, as well as revenues and expenses related to real estate activities, such as rental income and depreciation expense on the Company’s property in Vacaville, California, which the Company has leased to a third party for a 10-year term expiring in August 2020.
 
The following table shows certain measurements used by management to assess the performance of the segments described above as of December 31, 2014, 2013 and 2012, or for the years then ended:
 
(in thousands) 
 
North
America
 
 Europe
 
Asia/
Pacific
 
Administrative
& All Other
 
 Total
2014
 
 
 
 
Net sales
$
613,843

 
$
123,177

 
$
15,128

 
$
—

 
$
752,148

Sales to other segments *
4,134

 
1,170

 
17,933

 
—

 
23,237

Income (loss) from operations
94,888

 
5,005

 
(1,566
)
 
949

 
99,276

Depreciation and amortization
18,129

 
6,755

 
1,554

 
1,480

 
27,918

Impairment of goodwill
—

 
530

 
—

 
—

 
530

Significant non-cash charges
9,722

 
1,164

 
203

 
2,101

 
13,190

Provision for (benefit from) income taxes
30,287

 
2,437

 
882

 
2,185

 
35,791

Capital expenditures and business acquisitions,
 
 
 
 
 
 
 
 
 
net of cash acquired
20,160

 
2,977

 
798

 
—

 
23,935

Total assets
679,844

 
180,005

 
29,552

 
83,664

 
973,065


 
North
America
 
 Europe
 
Asia/
Pacific
 
Administrative
& All Other
 
 Total
2013
 
 
 
 
Net sales
$
572,789

 
$
117,740

 
$
14,793

 
$
—

 
$
705,322

Sales to other segments *
4,735

 
352

 
16,334

 
—

 
21,421

Income (loss) from operations
84,885

 
1,258

 
(2,202
)
 
(2,463
)
 
81,478

Depreciation and amortization
17,707

 
7,019

 
1,499

 
1,293

 
27,518

Impairment of long-lived asset
—

 
1,025

 
—

 
—

 
1,025

Significant non-cash charges
8,867

 
1,561

 
142

 
2,177

 
12,747

Provision for (benefit from) income taxes
26,372

 
2,906

 
(101
)
 
1,416

 
30,593

Capital expenditures and business acquisitions,
 
 
 
 
 
 
 
 
 
   net of cash acquired
19,424

 
2,244

 
1,620

 
9

 
23,297

Total assets
627,196

 
201,384

 
31,560

 
96,385

 
956,525

 
 
North
America
 
 Europe
 
Asia/
Pacific
 
Administrative
& All Other
 
 Total
2012
 
 
 
 
Net sales
$
522,895

 
$
122,493

 
$
10,843

 
$
—

 
$
656,231

Sales to other segments *
5,121

 
430

 
15,721

 
—

 
21,272

Income (loss) from operations
71,586

 
(8,095
)
 
(2,799
)
 
1,017

 
61,709

Depreciation and amortization
16,317

 
7,744

 
1,330

 
1,466

 
26,857

Impairment of goodwill
—

 
2,346

 
—

 
—

 
2,346

Impairment of long-lived asset
461

 
342

 
—

 
—

 
803

Significant non-cash charges
7,369

 
1,053

 
194

 
2,051

 
10,667

Provision for income taxes
15,037

 
3,544

 
323

 
1,099

 
20,003

Capital expenditures and business acquisitions,
 
 
 
 
 
 
 
 
 
   net of cash acquired
23,014

 
63,156

 
916

 
—

 
87,086

Total assets
583,501

 
194,000

 
30,455

 
82,366

 
890,322

 
 * Sales to other segments are eliminated on consolidation.

Cash collected by the Company’s United States subsidiaries is routinely transferred into the Company’s cash management accounts, and therefore has been included in the total assets of “Administrative & All Other.” Cash and short-term investment balances in “Administrative & All Other” were $167.4 million, $156.0 million and $91.9 million as of December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, the Company had $94.9 million or 36.5% of its cash and cash equivalents held outside the United States in accounts belonging to the Company’s various foreign operating entities. The majority of this balance is held in foreign currencies and could be subject to additional taxation if it were repatriated to the United States. The Company has no plans to repatriate cash and cash equivalents held outside the United States as the Company expects to use such funds for future international growth and acquisitions.
 
The significant non-cash charges comprise compensation related to the awards under the stock-based incentive plans and the stock bonus plan. The Company’s measure of profit or loss for its reportable segments is income (loss) from operations. The reconciling amounts between consolidated income before tax and consolidated income from operations are net interest income, which is primarily attributed to “Administrative & All Other.”
 
The following table shows the geographic distribution of the Company’s net sales and long-lived assets as of December 31, 2014, 2013 and 2012, or for the years then ended:
 
(in thousands) 
 
2014
 
2013
 
2012
 
Net
Sales
 
Long-Lived
Assets
 
Net
Sales
 
Long-Lived
Assets
 
Net
Sales
 
Long-Lived
Assets
 
 
 
 
 
 
United States
$
572,112

 
$
158,161

 
$
531,019

 
$
152,644

 
$
478,441

 
$
152,456

Canada
40,996

 
5,195

 
41,626

 
5,763

 
44,359

 
6,182

Denmark
15,121

 
1,518

 
14,993

 
1,907

 
15,096

 
2,252

United Kingdom
24,893

 
1,377

 
21,852

 
1,249

 
23,504

 
1,232

France
37,312

 
8,145

 
36,708

 
9,302

 
37,826

 
10,036

Germany
27,202

 
15,379

 
26,058

 
17,446

 
27,919

 
17,651

Switzerland
4,960

 
9,506

 
5,977

 
11,649

 
6,607

 
11,628

Poland
7,491

 
1,071

 
5,982

 
692

 
4,847

 
795

The Netherlands
4,539

 
30

 
4,306

 
63

 
3,336

 
92

Portugal
806

 
472

 
804

 
688

 
1,437

 
734

Ireland
—

 
—

 
31

 
—

 
791

 
2,757

China/Hong Kong
9,646

 
8,966

 
9,802

 
9,499

 
6,054

 
9,675

Australia
3,245

 
267

 
3,289

 
356

 
3,386

 
441

New Zealand
2,237

 
82

 
1,701

 
125

 
1,404

 
154

Other countries
1,588

 
606

 
1,174

 
739

 
1,224

 
577

 
$
752,148

 
$
210,775

 
$
705,322

 
$
212,122

 
$
656,231

 
$
216,662


 
Net sales and long-lived assets, net of intangible assets, are attributable to the country where the sales or manufacturing operations are located.
 
The following table show the distribution of the Company’s net sales by product for the years ended December 31, 2014, 2013 and 2012, or for the years then ended:
 
(in thousands) 
0
2014
 
2013
 
2012
Wood Construction
$
636,003

 
$
596,837

 
$
558,103

Concrete Construction
115,921

 
108,295

 
97,921

Other
224

 
190

 
207

Total
$
752,148

 
$
705,322

 
$
656,231


 
Wood construction products include connectors, truss plates, fastening systems, fasteners and pre-fabricated shearwalls and are used for connecting and strengthening wood-based construction primarily in the residential construction market. Concrete construction products include adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools and reinforcing fiber materials and are used for restoration, protection or strengthening concrete, masonry and steel construction in residential, industrial, commercial and infrastructure construction.

The Company’s largest customer, attributable mostly to the North America segment, accounted for 10% of net sales for the year ended December 31, 2012. No customer accounted for as much as 10% of net sales for the years ended December 31, 2014 and 2013.