Segment Information

3 Months Ended

Jun. 30, 2020

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 June 30,						Six Months Ended June 30,
(in thousands)	2020			2019			2020			2019
Net Sales
North America	$	286,807		$	259,073		$	535,857		$	480,504
Europe	37,379			43,648			70,111			79,428
Asia/Pacific	1,890			2,132			3,776			4,165
Total	$	326,076		$	304,853		$	609,744		$	564,097
Sales to Other Segments*
North America	$	671		$	466		$	1,311		$	807
Europe	1,308			631			2,562			1,089
Asia/Pacific	5,664			7,276			10,477			13,672
Total	$	7,643		$	8,373		$	14,350		$	15,568
Income (Loss) from Operations
North America	$	72,196		$	49,838		$	125,757		$	82,652
Europe	2,696			4,643			1,026			4,259
Asia/Pacific	(75		)	186			(679		)	(355		)
Administrative and all other	(2,605		)	(1,014		)	(4,542		)	(2,880		)
Total	$	72,212		$	53,653		$	121,562		$	83,676

* Sales to other segments are eliminated in consolidation.



							At
	At June 30,						December 31,
(in thousands)	2020			2019			2019
Total Assets
North America	$	1,382,051		$	1,194,318		$	1,269,545
Europe	169,757			173,791			169,785
Asia/Pacific	27,957			27,453			30,055
Administrative and all other	(295,262		)	(325,644		)	(374,019		)
Total	$	1,284,503		$	1,069,918		$	1,095,366

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 $261.8 million, $100.5 million, and $161.4 million, as of June 30, 2020 and 2019, and December 31, 2019, 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 June 30,				Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019

Wood construction products	$	280,724	$	258,416	$	523,244	$	476,029
Concrete construction products	45,304		46,360		86,316		87,936
Other	48		77		184		132
Total	$	326,076	$	304,853	$	609,744	$	564,097

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.