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Segment Information
 6 Months Ended
Jun. 30, 2024
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 the Company's customers. The three regional segments are the North America segment (comprised primarily of the Company’s operations in the U.S. and Canada), the Europe segment, and the Asia/Pacific segment (comprised of the Company’s operations in Asia, the South Pacific, and the Middle East). 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 table illustrates certain measurements used by management to assess the performance of the segments described above as of or the following periods:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2024202320242023
Net Sales    
North America$463,022 $465,467 $869,771 $871,797 
Europe129,877 127,817 249,814 252,031 
Asia/Pacific4,079 4,296 7,972 8,182 
Total$596,978 $597,580 $1,127,557 $1,132,010 
Sales to Other Segments*    
North America$858 $1,524 $1,698 $2,692 
Europe1,411 1,459 2,662 3,072 
Asia/Pacific10,717 7,956 17,569 13,858 
Total$12,986 $10,939 $21,929 $19,622 
Income (Loss) from Operations    
North America$132,055 $143,430 $230,960 $257,823 
Europe12,145 13,974 20,402 27,444 
Asia/Pacific(302)379 (877)241 
Administrative and all other(11,712)(12,762)(22,204)(22,125)
Total$132,186 $145,021 $228,281 $263,383 
            
*    Sales to other segments are eliminated upon consolidation.

   
As of
 As of June 30,December 31,
(in thousands)202420232023
Total Assets   
North America$1,905,699 $1,570,275 $1,745,341 
Europe723,791 702,740 716,396 
Asia/Pacific43,594 35,604 38,719 
Administrative and all other100,277 410,730 204,268 
Total$2,773,361 $2,719,349 $2,704,724 
 
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 $249.2 million, $326.5 million and $368.6 million, as of June 30, 2024 and 2023, and December 31, 2023, 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 and are used for connecting and strengthening wood-based construction primarily in the residential and commercial construction market. Its 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 following
table illustrates the distribution of the Company’s net sales by product group as additional information for the three and six months ended June 30, 2024 and 2023:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2024202320242023
Wood construction products$507,082 $515,378 $956,593 $970,137 
Concrete construction products86,447 81,319 165,178 157,990 
Other3,449 883 5,786 3,883 
Total$596,978 $597,580 $1,127,557 $1,132,010