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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of performance of reportable segments | The following table presents financial information of each segment that is used by the CODM to assess the performance of segments for periods ended December 31, 2024, 2023 and 2022, respectively:
(in thousands) | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total
2024 |  |  |  |
Net sales | $ | 1,735,879 |  |  | $ | 479,055 |  |  | $ | 17,205 |  |  | $ | — |  |  | $ | 2,232,139 |
Wood Products | 1,499,889 |  |  | 384,494 |  |  | 15,141 |  |  | — |  |  | 1,899,524 |
Concrete Products | 233,936 |  |  | 94,561 |  |  | 2,060 |  |  | — |  |  | 330,557 |
Cost of sales | 885,375 |  |  | 310,073 |  |  | 11,407 |  |  | (567) |  |  | 1,206,288 |
Gross profit | 850,504 |  |  | 168,982 |  |  | 5,798 |  |  | 567 |  |  | 1,025,851 |
Research and development, and other engineering expenses | 84,246 |  |  | 8,514 |  |  | 816 |  |  | — |  |  | 93,576 |
Selling expenses | 164,947 |  |  | 51,005 |  |  | 3,450 |  |  | — |  |  | 219,402 |
General and administrative expenses | 161,958 |  |  | 72,181 |  |  | 1,851 |  |  | 41,542 |  |  | 277,532 |
Sales to other segments * | 3,263 |  |  | 4,764 |  |  | 33,407 |  |  | — |  |  | 41,434 |
Income from operations | 439,567 |  |  | 33,806 |  |  | (294) |  |  | (43,104) |  |  | 429,975 |
Depreciation and amortization | 49,139 |  |  | 31,747 |  |  | 2,630 |  |  | 1,883 |  |  | 85,399 |
Significant non-cash charges | 12,895 |  |  | 1,607 |  |  | 275 |  |  | 4,245 |  |  | 19,022 |
Provision for income taxes | 98,960 |  |  | 9,332 |  |  | 1,271 |  |  | 2,256 |  |  | 111,819 |
Business acquisitions, net of cash acquired; capital expenditures; asset acquisitions; and equity investments | 243,728 |  |  | 13,863 |  |  | 3,280 |  |  | 273 |  |  | 261,144 |
Total assets | 2,062,552 |  |  | 687,955 |  |  | 48,769 |  |  | (63,108) |  |  | 2,736,168 |
(in thousands) | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total
2023 |  |  |  |
Net sales | $ | 1,716,422 |  |  | $ | 480,756 |  |  | $ | 16,625 |  |  | $ | — |  |  | $ | 2,213,803 |
Wood Products | 1,491,848 |  |  | 385,134 |  |  | 14,467 |  |  | — |  |  | 1,891,449 |
Concrete Products | 222,720 |  |  | 95,621 |  |  | 2,159 |  |  | — |  |  | 320,500 |
Cost of sales | 853,864 |  |  | 303,708 |  |  | 10,946 |  |  | 1,530 |  |  | 1,170,048 |
Gross profit | 862,558 |  |  | 177,048 |  |  | 5,679 |  |  | (1,530) |  |  | 1,043,755 |
Research and development, and other engineering expenses | 84,539 |  |  | 7,523 |  |  | 105 |  |  | — |  |  | 92,167 |
Selling expenses | 150,616 |  |  | 50,553 |  |  | 2,811 |  |  | — |  |  | 203,980 |
General and administrative expenses | 154,241 |  |  | 68,578 |  |  | 2,229 |  |  | 43,055 |  |  | 268,103 |
Sales to other segments * | 4,718 |  |  | 5,900 |  |  | 29,040 |  |  | — |  |  | 39,658 |
Income from operations | 473,229 |  |  | 45,998 |  |  | 535 |  |  | (44,613) |  |  | 475,149 |
Depreciation and amortization | 40,883 |  |  | 29,668 |  |  | 2,226 |  |  | 1,930 |  |  | 74,707 |
Significant non-cash charges | 13,344 |  |  | 2,379 |  |  | 515 |  |  | 7,658 |  |  | 23,896 |
Provision for income taxes | 109,722 |  |  | 11,435 |  |  | 1,313 |  |  | 90 |  |  | 122,560 |
Business acquisitions, net of cash acquired; capital expenditures; asset acquisitions; and equity investments | 92,725 |  |  | 21,975 |  |  | 6,402 |  |  | (7,605) |  |  | 113,497 |
Total assets | 1,745,341 |  |  | 716,396 |  |  | 38,719 |  |  | 204,268 |  |  | 2,704,724 |
(in thousands) | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total |
2022 |  |  |  |  |
Net sales | $ | 1,701,041 |  |  | $ | 400,303 |  |  | $ | 14,743 |  |  | $ | — |  |  | $ | 2,116,087 |  |
Wood Products | 1,496,062 |  |  | 323,065 |  |  | 12,453 |  |  | — |  |  | 1,831,580 |  |
Concrete Products | 202,687 |  |  | 77,228 |  |  | 2,290 |  |  | — |  |  | 282,205 |  |
Cost of sales | 890,384 |  |  | 274,687 |  |  | 9,834 |  |  | (111) |  |  | 1,174,794 |  |
Gross profit | 810,657 |  |  | 125,616 |  |  | 4,909 |  |  | 111 |  |  | 941,293 |  |
Research and development, and other engineering expenses | 62,676 |  |  | 5,467 |  |  | 254 |  |  | (43) |  |  | 68,354 |  |
Selling expenses | 126,990 |  |  | 39,872 |  |  | 2,509 |  |  | 7 |  |  | 169,378 |  |
General and administrative expenses | 135,163 |  |  | 52,958 |  |  | 1,462 |  |  | 38,885 |  |  | 228,468 |  |
Sales to other segments * | 4,862 |  |  | 5,732 |  |  | 32,979 |  |  | — |  |  | 43,573 |  |
Income from operations | 485,899 |  |  | 11,121 |  |  | 723 |  |  | (38,676) |  |  | 459,067 |  |
Depreciation and amortization | 36,003 |  |  | 22,594 |  |  | 1,730 |  |  | 563 |  |  | 60,890 |  |
Significant non-cash charges | 7,504 |  |  | 1,099 |  |  | 510 |  |  | 5,868 |  |  | 14,981 |  |
Provision for income taxes | 112,537 |  |  | 1,193 |  |  | 1,091 |  |  | (751) |  |  | 114,070 |  |
Business acquisitions, net of cash acquired; capital expenditures; asset acquisitions; and equity investments | 54,594 |  |  | 817,163 |  |  | 1,173 |  |  | 2,871 |  |  | 875,801 |  |
Total assets | 1,393,968 |  |  | 675,634 |  |  | 34,599 |  |  | 399,770 |  |  | 2,503,971 |  |
* Sales to other segments are eliminated upon consolidation.
Schedule of net sales and long-lived assets by geographical segments | The following table shows the geographic distribution of the Company’s net sales and long-lived assets as of December 31, 2024, 2023 and 2022, respectively:
| 2024 |  | 2023 |  | 2022
(in thousands) | Net Sales |  | Long-Lived Assets |  | Net Sales |  | Long-Lived Assets |  | Net Sales |  | Long-Lived Assets
United States | $ | 1,640,669 |  |  | $ | 439,326 |  |  | $ | 1,630,359 |  |  | $ | 305,564 |  |  | $ | 1,615,728 |  |  | $ | 273,407 |
France | 225,336 |  |  | 54,807 |  |  | 223,562 |  |  | 62,547 |  |  | 170,904 |  |  | 90,296 |
Canada | 90,220 |  |  | 2,799 |  |  | 81,404 |  |  | 2,722 |  |  | 81,036 |  |  | 2,571 |
Italy | 56,042 |  |  | 24,869 |  |  | 62,428 |  |  | 25,245 |  |  | 47,294 |  |  | 4,342 |
Germany | 48,134 |  |  | 12,273 |  |  | 45,319 |  |  | 12,077 |  |  | 42,954 |  |  | 11,507 |
Poland | 45,528 |  |  | 11,452 |  |  | 39,978 |  |  | 10,836 |  |  | 27,803 |  |  | 2,721 |
United Kingdom | 29,310 |  |  | 2,286 |  |  | 32,058 |  |  | 2,352 |  |  | 37,349 |  |  | 1,898 |
Belgium | 17,549 |  |  | 1,723 |  |  | 18,802 |  |  | 2,297 |  |  | 15,032 |  |  | 2,182 |
Sweden | 13,946 |  |  | 2,192 |  |  | 15,342 |  |  | 2,579 |  |  | 16,156 |  |  | 2,369 |
Denmark | 12,746 |  |  | 4,614 |  |  | 12,318 |  |  | 3,734 |  |  | 12,610 |  |  | 1,015 |
Australia | 12,196 |  |  | 1,181 |  |  | 11,351 |  |  | 800 |  |  | 9,468 |  |  | 245 |
Norway | 8,391 |  |  | — |  |  | 9,635 |  |  | 852 |  |  | 12,241 |  |  | — |
Other countries | 32,072 |  |  | 17,461 |  |  | 31,247 |  |  | 19,487 |  |  | 27,512 |  |  | 11,496 |
| $ | 2,232,139 |  |  | $ | 574,983 |  |  | $ | 2,213,803 |  |  | $ | 451,092 |  |  | $ | 2,116,087 |  |  | $ | 404,049 |
Schedule of distribution of the Company's net sales by product group | The following table shows the distribution of the Company’s net sales by product for the years ended December 31, 2024, 2023 and 2022, respectively:
(in thousands) | 2024 |  | 2023 |  | 2022
Wood Construction | $ | 1,899,524 |  |  | $ | 1,891,449 |  |  | $ | 1,831,580 |
Concrete Construction | 330,557 |  |  | 320,500 |  |  | 282,205 |
Other | 2,058 |  |  | 1,854 |  |  | 2,302 |
Total | $ | 2,232,139 |  |  | $ | 2,213,803 |  |  | $ | 2,116,087 |

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