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Segment Information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company is organized into three reporting segments defined by the regions where the Company’s products are manufactured, marketed and distributed to its customers. The three reporting segments are the North America segment (comprised primarily of the Company’s operations in the U.S. and Canada), the Europe segment, which includes ETANCO, and the Asia/Pacific segment (comprised of the Company’s operations in Asia and the South Pacific). These segments are similar in several ways, including the types of materials used, the production processes, the distribution channels and the product applications.

The Administrative & All Other line item primarily includes expenses such as self-insured workers compensation claims for employees, 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.
The following tables illustrate certain measurements used by management to assess the performance of its reportable segments as of or the following periods:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2023202220232022
Net Sales    
North America$456,820 $437,770 $1,328,615 $1,332,911 
Europe119,043 111,903 371,074 296,592 
Asia/Pacific4,221 3,989 12,404 10,961 
Total$580,084 $553,662 $1,712,093 $1,640,464 
Sales to Other Segments*    
North America$1,064 $1,071 $3,756 $3,646 
Europe1,327 1,045 4,399 4,000 
Asia/Pacific8,022 8,736 21,880 25,242 
Total$10,413 $10,852 $30,035 $32,888 
Income (Loss) from Operations    
North America$135,633 $127,318 $393,456 $400,336 
Europe15,450 6,149 42,894 10,339 
Asia/Pacific477 234 718 898 
Administrative and all other(11,347)(10,886)(33,472)(31,243)
Total$140,213 $122,815 $403,596 $380,330 
            
*    Sales to other segments are eliminated in consolidation.

   At
 As of September 30,December 31,
(in thousands)202320222022
Total Assets   
North America$1,675,344 $1,311,102 $1,393,968 
Europe687,992 641,988 675,634 
Asia/Pacific36,416 34,333 34,599 
Administrative and all other415,735 516,835 399,770 
Total$2,815,487 $2,504,258 $2,503,971 
 
Cash collected by the Company’s U.S. subsidiaries is routinely transferred into the Company’s cash management accounts and, therefore is in the total assets of “Administrative and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $465.3 million, $236.3 million, and $222.5 million, as of September 30, 2023 and 2022, and December 31, 2022, respectively. Also included in the total assets of "Administrative and all other" are intercompany borrowings due from the Europe segment. Included in the total assets of each segment are net intercompany borrowings due to and from the other segments.

The Company’s wood construction products include connectors, truss plates, fastening systems, fasteners and pre-fabricated shearwalls that are used for connecting and strengthening wood-based construction primarily in residential and commercial construction. Its concrete construction products include adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools and reinforcing fiber materials that are used for restoration, protection or strengthening concrete, masonry and steel construction in residential, industrial, commercial and infrastructure construction. The table below illustrates the distribution of the Company’s sales by product group as additional information for the following periods:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2023202220232022
Wood construction products$491,308 $478,554 $1,461,442 $1,428,745 
Concrete construction products84,141 74,933 242,133 211,119 
Other4,635 175 8,518 600 
Total$580,084 $553,662 $1,712,093 $1,640,464