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Segment Information
 12 Months Ended
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		 EuropeAsia/
Pacific		Administrative
& All Other		 Total
2024
Net sales$1,735,879 $479,055 $17,205 $— $2,232,139 
Wood Products1,499,889 384,494 15,141 — 1,899,524 
Concrete Products233,936 94,561 2,060 — 330,557 
Cost of sales885,375 310,073 11,407 (567)1,206,288 
Gross profit850,504 168,982 5,798 567 1,025,851 
Research and development, and other engineering expenses84,246 8,514 816 — 93,576 
Selling expenses164,947 51,005 3,450 — 219,402 
General and administrative expenses161,958 72,181 1,851 41,542 277,532 
Sales to other segments *3,263 4,764 33,407 — 41,434 
Income from operations439,567 33,806 (294)(43,104)429,975 
Depreciation and amortization49,139 31,747 2,630 1,883 85,399 
Significant non-cash charges12,895 1,607 275 4,245 19,022 
Provision for income taxes98,960 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 assets2,062,552 687,955 48,769 (63,108)2,736,168 

(in thousands)
North
America		 EuropeAsia/
Pacific		Administrative
& All Other		 Total
2023
Net sales$1,716,422 $480,756 $16,625 $— $2,213,803 
Wood Products1,491,848 385,134 14,467 — 1,891,449 
Concrete Products222,720 95,621 2,159 — 320,500 
Cost of sales853,864 303,708 10,946 1,530 1,170,048 
Gross profit862,558 177,048 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 operations473,229 45,998 535 (44,613)475,149 
Depreciation and amortization40,883 29,668 2,226 1,930 74,707 
Significant non-cash charges13,344 2,379 515 7,658 23,896 
Provision for income taxes109,722 11,435 1,313 90 122,560 
Business acquisitions, net of cash acquired; capital expenditures; asset acquisitions; and equity investments92,725 21,975 6,402 (7,605)113,497 
Total assets1,745,341 716,396 38,719 204,268 2,704,724 
 
(in thousands)
North
America		 EuropeAsia/
Pacific		Administrative
& All Other		 Total
2022
Net sales$1,701,041 $400,303 $14,743 $— $2,116,087 
Wood Products1,496,062 323,065 12,453 — 1,831,580 
Concrete Products202,687 77,228 2,290 — 282,205 
Cost of sales890,384 274,687 9,834 (111)1,174,794 
Gross profit810,657 125,616 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 operations485,899 11,121 723 (38,676)459,067 
Depreciation and amortization36,003 22,594 1,730 563 60,890 
Significant non-cash charges7,504 1,099 510 5,868 14,981 
Provision for income taxes112,537 1,193 1,091 (751)114,070 
Business acquisitions, net of cash acquired; capital expenditures; asset acquisitions; and equity investments54,594 817,163 1,173 2,871 875,801 
Total assets1,393,968 675,634 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:
 
 202420232022
 (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 
France225,336 54,807 223,562 62,547 170,904 90,296 
Canada90,220 2,799 81,404 2,722 81,036 2,571 
Italy56,042 24,869 62,428 25,245 47,294 4,342 
Germany48,134 12,273 45,319 12,077 42,954 11,507 
Poland45,528 11,452 39,978 10,836 27,803 2,721 
United Kingdom29,310 2,286 32,058 2,352 37,349 1,898 
Belgium17,549 1,723 18,802 2,297 15,032 2,182 
Sweden13,946 2,192 15,342 2,579 16,156 2,369 
Denmark12,746 4,614 12,318 3,734 12,610 1,015 
Australia12,196 1,181 11,351 800 9,468 245 
Norway8,391 — 9,635 852 12,241 — 
Other countries32,072 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)202420232022
Wood Construction$1,899,524 $1,891,449 $1,831,580 
Concrete Construction330,557 320,500 282,205 
Other2,058 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.