XML 11 R11.htm IDEA: XBRL DOCUMENT
v3.19.3

Inventories | 9 Months Ended
--- | ---
Sep. 30, 2019
Inventory Disclosure [Abstract] |
Inventories |
5. | INVENTORIES
Inventories valued at LIFO (last-in, first-out), consist of the following (in thousands):
|  | September 30, 2019 |  |  | December 31, 2018 |
Finished goods |  | $ | 27,068 |  |  | $ | 46,638 |
Raw materials |  |  | 33,468 |  |  |  | 27,321 |
Total FIFO (first-in, first-out) inventories |  |  | 60,536 |  |  |  | 73,959 |
Reserve to adjust inventories to LIFO value |  |  | (18,442 | ) |  |  | (18,442 | )
Total LIFO inventories |  | $ | 42,094 |  |  | $ | 55,517 |
The Company utilizes the LIFO method of accounting related to its Trex Residential wood-alternative decking and residential railing products, which generally provides for the matching of current costs with current revenues. However, under the LIFO method, reductions in annual inventory balances cause a portion of the Company’s cost of sales to be based on historical costs rather than current year costs (LIFO liquidation). Reductions in interim inventory balances expected to be replenished by year-end do not result in a LIFO liquidation. Accordingly, interim LIFO calculations are based, in part, on management’s estimates of expected year-end inventory levels and costs which may differ from actual results. Since inventory levels and costs are subject to factors beyond management’s control, interim results are subject to the final year-end LIFO inventory valuation. As of September 30, 2019, management estimates that interim inventory balances will be replenished by year-end and there were no LIFO inventory liquidations or related impact on cost of sales in the nine months ended September 30, 2019. Inventories valued at lower of cost (FIFO method) and net realizable value were $1.8 million at September 30, 2019 and $2.3 million at December 31, 2018, consisting primarily of raw materials. The Company utilizes the FIFO method of accounting related to its Trex Commercial architectural railing and staging systems for the commercial and multi-family market.

X
- References No definition available. + Details
Name: | us-gaap_InventoryDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration