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Segment Information | 12 Months Ended
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Dec. 31, 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 financial information of these segments is available and utilized by the Chief Executive Officer, the Company’s CODM, to assess the segments’ performance. The primary measurements used to measure the financial performance of the segments are revenue, gross margins, and operating margins to decide whether to reinvest the profits, make acquisitions, pay down debt or borrow, or to return capital to shareholders via dividends and share repurchases. 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 column 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 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. 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 & All Other." Cash and cash equivalent balances in "Administrative & All Other" were $126.1 million, $368.6 million and $222.5 million as of December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, the Company had $111.6 million, or 46.6%, of its cash and cash equivalents held outside the U.S. in accounts belonging to the Company’s various foreign operating entities. The majority of this balance is held in foreign currencies and could be subject to additional taxation if repatriated to the U.S. The significant non-cash charges comprise compensation related to equity awards under the Company’s stock-based incentive plans, the Company’s employee stock bonus plan, and the Company's non-qualified deferred compensation plan. The Company’s measure of profit or loss for its reportable segments is income (loss) from operations. The reconciling amounts between consolidated income before tax and consolidated income from operations are net interest income (expense), net and other, foreign exchange gain (loss), certain legal and professional fees associated with the acquisition of ETANCO, refer to Note 3 "Acquisitions," and gain on disposal of a assets. Interest income (expense) is primarily attributed to “Administrative & All Other.” 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 |
Net sales and long-lived assets, excluding intangible assets and goodwill, are attributable to the country where the sales or manufacturing operations are located. The Company's wood construction products are used in light-frame building applications and include connectors, truss plates, screw fastening systems, fasteners and pre-fabricated lateral-force resisting systems. Its concrete construction products are used in concrete, masonry and steel building applications and include adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber reinforced materials, and other repair products used for protecting and strengthening structures. 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 |
No customers accounted for more than 10.0% of net sales for the years ended 2024, 2023 and 2022.

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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://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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