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Segment Information | 9 Months Ended
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Sep. 30, 2025
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 three and nine months ended September 30, 2025 and 2024:
(in thousands) |  | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total
Three months ended September 30, 2025 |  |  |  |  |
Net sales |  | $ | 483,606 |  |  | $ | 134,431 |  |  | $ | 5,476 |  |  | $ | — |  |  | $ | 623,513 |
Wood Products |  | 415,782 |  |  | 104,234 |  |  | 4,423 |  |  | — |  |  | 524,439 |
Concrete Products |  | 66,640 |  |  | 30,197 |  |  | 963 |  |  | — |  |  | 97,800 |
Cost of sales |  | 246,425 |  |  | 83,417 |  |  | 3,399 |  |  | 1,010 |  |  | 334,251 |
Gross profit |  | 237,181 |  |  | 51,014 |  |  | 2,077 |  |  | (1,010) |  |  | 289,262 |
Research and development, and other engineering expenses |  | 18,265 |  |  | 2,313 |  |  | 215 |  |  | — |  |  | 20,793 |
Selling expenses |  | 43,027 |  |  | 12,092 |  |  | 1,004 |  |  | — |  |  | 56,123 |
General and administrative expenses |  | 53,267 |  |  | 19,835 |  |  | 433 |  |  | 11,840 |  |  | 85,375 |
Sales to other segments * |  | 1,015 |  |  | 1,122 |  |  | 7,876 |  |  | — |  |  | 10,013 |
Income (loss) from operations |  | 125,179 |  |  | 16,119 |  |  | 555 |  |  | (1,110) |  |  | 140,743 |
Depreciation and amortization |  | 13,319 |  |  | 8,142 |  |  | 529 |  |  | 1,350 |  |  | 23,340 |
Significant non-cash charges |  | 3,641 |  |  | 564 |  |  | 112 |  |  | 2,404 |  |  | 6,721 |
Provision for income taxes |  | 30,082 |  |  | 2,409 |  |  | 357 |  |  | 3,545 |  |  | 36,393 |
Business Acquisition; capital expenditures; asset acquisitions, net of cash acquired; and equity investments |  | 38,341 |  |  | 2,025 |  |  | 158 |  |  | (4,130) |  |  | 36,394 |
(in thousands) |  | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total
Three months ended September 30, 2024 |  |  |  |  |
Net sales |  | $ | 461,356 |  |  | $ | 121,170 |  |  | $ | 4,627 |  |  | $ | — |  |  | $ | 587,153 |
Wood Products |  | 397,755 |  |  | 97,622 |  |  | 4,169 |  |  | — |  |  | 499,546 |
Concrete Products |  | 62,709 |  |  | 23,548 |  |  | 458 |  |  | — |  |  | 86,715 |
Cost of sales |  | 233,187 |  |  | 76,843 |  |  | 3,008 |  |  | (942) |  |  | 312,096 |
Gross profit |  | 228,169 |  |  | 44,327 |  |  | 1,619 |  |  | 942 |  |  | 275,057 |
Research and development, and other engineering expenses |  | 18,230 |  |  | 2,038 |  |  | 278 |  |  | — |  |  | 20,546 |
Selling expenses |  | 40,285 |  |  | 11,767 |  |  | 945 |  |  | — |  |  | 52,997 |
General and administrative expenses |  | 46,403 |  |  | 17,492 |  |  | 136 |  |  | 11,298 |  |  | 75,329 |
Sales to other segments * |  | 711 |  |  | 1,032 |  |  | 6,146 |  |  | — |  |  | 7,889 |
Income (loss) from operations |  | 123,251 |  |  | 12,635 |  |  | 260 |  |  | (11,292) |  |  | 124,854 |
Depreciation and amortization |  | 13,544 |  |  | 7,839 |  |  | 751 |  |  | (476) |  |  | 21,658 |
Significant non-cash charges |  | 3,070 |  |  | 672 |  |  | 66 |  |  | 1,833 |  |  | 5,641 |
Provision for income taxes |  | 24,744 |  |  | 2,867 |  |  | 366 |  |  | 4,997 |  |  | 32,974 |
Business Acquisition; capital expenditures; asset acquisitions, net of cash acquired; and equity investments |  | 100,520 |  |  | 3,669 |  |  | 2,129 |  |  | 193 |  |  | 106,511 |
(in thousands) |  | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total
Nine months ended September 30, 2025 |  |  |  |  |
Net sales |  | $ | 1,396,993 |  |  | $ | 381,688 |  |  | $ | 14,782 |  |  | $ | — |  |  | $ | 1,793,463 |
Wood Products |  | 1,204,338 |  |  | 303,923 |  |  | 12,022 |  |  | — |  |  | 1,520,283 |
Concrete Products |  | 189,482 |  |  | 77,765 |  |  | 2,638 |  |  | — |  |  | 269,885 |
Cost of sales |  | 703,466 |  |  | 242,377 |  |  | 9,445 |  |  | 2,423 |  |  | 957,711 |
Gross profit |  | 693,527 |  |  | 139,311 |  |  | 5,337 |  |  | (2,423) |  |  | 835,752 |
Research and development, and other engineering expenses |  | 53,792 |  |  | 6,789 |  |  | 818 |  |  | — |  |  | 61,399 |
Selling expenses |  | 126,959 |  |  | 37,037 |  |  | 2,734 |  |  | — |  |  | 166,730 |
General and administrative expenses |  | 148,969 |  |  | 53,717 |  |  | 1,149 |  |  | 34,394 |  |  | 238,229 |
Sales to other segments * |  | 2,600 |  |  | 5,165 |  |  | 24,525 |  |  | — |  |  | 32,290 |
Income (loss) from operations |  | 366,516 |  |  | 41,097 |  |  | 828 |  |  | (25,135) |  |  | 383,306 |
Depreciation and amortization |  | 35,472 |  |  | 23,984 |  |  | 1,635 |  |  | 3,528 |  |  | 64,619 |
Significant non-cash charges |  | 11,966 |  |  | 1,698 |  |  | 281 |  |  | 5,771 |  |  | 19,716 |
Provision for income taxes |  | 85,841 |  |  | 8,442 |  |  | 951 |  |  | 3,669 |  |  | 98,903 |
Business Acquisition; capital expenditures; asset acquisitions, net of cash acquired; and equity investments |  | 111,340 |  |  | 7,915 |  |  | 616 |  |  | 7,708 |  |  | 127,579 |
Total assets as of September 30, 2025 |  | 2,156,204 |  |  | 805,759 |  |  | 50,175 |  |  | 33,285 |  |  | 3,045,423 |
(in thousands) |  | North America |  | Europe |  | Asia/ Pacific |  | Administrative & All Other |  | Total
Nine months ended September 30, 2024 |  |  |  |  |
Net sales |  | $ | 1,331,126 |  |  | $ | 370,985 |  |  | $ | 12,599 |  |  | $ | — |  |  | $ | 1,714,710 |
Wood Products |  | 1,151,338 |  |  | 299,081 |  |  | 10,994 |  |  | — |  |  | 1,461,413 |
Concrete Products |  | 178,383 |  |  | 71,904 |  |  | 1,605 |  |  | — |  |  | 251,892 |
Cost of sales |  | 670,839 |  |  | 236,897 |  |  | 8,818 |  |  | (3) |  |  | 916,551 |
Gross profit |  | 660,287 |  |  | 134,088 |  |  | 3,781 |  |  | 3 |  |  | 798,159 |
Research and development, and other engineering expenses |  | 52,845 |  |  | 6,320 |  |  | 594 |  |  | — |  |  | 59,759 |
Selling expenses |  | 120,095 |  |  | 38,130 |  |  | 2,530 |  |  | — |  |  | 160,755 |
General and administrative expenses |  | 133,376 |  |  | 53,718 |  |  | 1,284 |  |  | 31,599 |  |  | 219,977 |
Sales to other segments * |  | 2,410 |  |  | 3,695 |  |  | 23,716 |  |  | — |  |  | 29,821 |
Income (loss) from operations |  | 354,212 |  |  | 33,037 |  |  | (617) |  |  | (33,496) |  |  | 353,136 |
Depreciation and amortization |  | 34,391 |  |  | 23,288 |  |  | 1,890 |  |  | 1,410 |  |  | 60,979 |
Significant non-cash charges |  | 9,643 |  |  | 2,172 |  |  | 167 |  |  | 4,035 |  |  | 16,017 |
Provision for income taxes |  | 80,040 |  |  | 8,714 |  |  | 649 |  |  | 1,418 |  |  | 90,821 |
Business Acquisition; capital expenditures; asset acquisitions, net of cash acquired; and equity investments |  | 183,151 |  |  | 10,841 |  |  | 3,652 |  |  | 6,340 |  |  | 203,984 |
Total assets as of September 30, 2024 |  | 2,013,641 |  |  | 751,419 |  |  | 48,618 |  |  | 83,781 |  |  | 2,897,459 |
* 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 and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $168.0 million and $208.3 million as of September 30, 2025 and 2024, respectively. As of September 30, 2025, the Company had $133.7 million or 45.0% 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 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 nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Wood construction products | $ | 524,439 |  |  | $ | 499,546 |  |  | $ | 1,520,283 |  |  | $ | 1,461,413 |
Concrete construction products | 97,800 |  |  | 86,715 |  |  | 269,885 |  |  | 251,892 |
Other | 1,274 |  |  | 892 |  |  | 3,295 |  |  | 1,405 |
Total | $ | 623,513 |  |  | $ | 587,153 |  |  | $ | 1,793,463 |  |  | $ | 1,714,710 |

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- Definition The entire disclosure for reporting segments including data and tables. 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