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Segment Information | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company is organized into three reportable segments, which 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, comprising continental Europe and the United Kingdom; and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the South Pacific and the Middle East. The Company's China and Hong Kong operations are manufacturing and administrative support locations, respectively. These three reportable segments are similar in several ways, including the types of materials used in production, production processes, distribution channels and product applications. The Company’s measure of profit or loss for its reportable segments is income (loss) from operations. The following tables illustrate certain measurements used by management to assess the performance of its reportable segments as of or for the following periods:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Net Sales |  |  |  |  |  |  |  |  |  |  |
North America | $ | 265,505 |  |  | $ | 239,898 |  |  | $ | 746,009 |  |  | $ | 705,932 |
Europe | 42,219 |  |  | 42,020 |  |  | 121,647 |  |  | 124,096 |
Asia/Pacific | 2,208 |  |  | 2,260 |  |  | 6,373 |  |  | 6,936 |
Total | $ | 309,932 |  |  | $ | 284,178 |  |  | $ | 874,029 |  |  | $ | 836,964 |
Sales to Other Segments* |  |  |  |  |  |  |  |  |  |  |
North America | $ | 520 |  |  | $ | 683 |  |  | $ | 1,327 |  |  | $ | 1,889 |
Europe | 479 |  |  | 140 |  |  | 1,568 |  |  | 740 |
Asia/Pacific | 7,600 |  |  | 7,586 |  |  | 21,272 |  |  | 20,907 |
Total | $ | 8,599 |  |  | $ | 8,409 |  |  | $ | 24,167 |  |  | $ | 23,536 |
Income (Loss) from Operations** |  |  |  |  |  |  |  |  |  |  |
North America | $ | 56,844 |  |  | $ | 56,280 |  |  | $ | 139,489 |  |  | $ | 152,724 |
Europe | 5,386 |  |  | 3,953 |  |  | 9,645 |  |  | 6,053 |
Asia/Pacific | (481 | ) |  | (86 | ) |  | (837 | ) |  | (1,749 | )
Administrative and all other | (782 | ) |  | (469 | ) |  | (3,654 | ) |  | (3,234 | )
Total | $ | 60,967 |  |  | $ | 59,678 |  |  | $ | 144,643 |  |  | $ | 153,794 |
* Sales to other segments are eliminated in consolidation. ** Beginning in the first quarter of 2019, income from inter-segment sales, previously included in income from operations for segment reporting, is now presented below income from operations. Income from inter-segment sales is eliminated in consolidation but was an expense in the North America and Europe segment and income in the Asia/Pacific segment.
|  |  |  |  | At
| At September 30, |  | December 31,
(in thousands) | 2019 |  | 2018 |  | 2018
Total Assets |  |  |  |  |  |  |  |
North America | $ | 1,246,617 |  |  | $ | 1,080,910 |  |  | $ | 1,119,012 |
Europe | 169,183 |  |  | 208,888 |  |  | 157,437 |
Asia/Pacific | 28,009 |  |  | 28,448 |  |  | 25,644 |
Administrative and all other | (357,501 | ) |  | (223,633 | ) |  | (280,430 | )
Total | $ | 1,086,308 |  |  | $ | 1,094,613 |  |  | $ | 1,021,663 |
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 and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $135.9 million, $87.5 million, and $113.6 million, as of September 30, 2019 and 2018, and December 31, 2018, respectively. Total "Administrative and all other" assets are net of inter-segment due to and from accounts eliminated in consolidation. While the Company manages its business by geographic segment, the following table illustrates the distribution of the Company’s net sales by product group as additional information for the following periods:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Wood construction products | $ | 255,869 |  |  | $ | 238,230 |  |  | $ | 731,898 |  |  | $ | 710,880 |
Concrete construction products | 53,947 |  |  | 45,832 |  |  | 141,883 |  |  | 125,847 |
Other | 116 |  |  | 116 |  |  | 248 |  |  | 237 |
Total | $ | 309,932 |  |  | $ | 284,178 |  |  | $ | 874,029 |  |  | $ | 836,964 |
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, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforcing 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 11.0% and 11.3% of net sales for three months and nine months ended September 30, 2019, respectively, and 10.5% of net sales, accounted for the nine months ended September 30, 2018.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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