<SEC-DOCUMENT>0001193125-21-246988.txt : 20210816
<SEC-HEADER>0001193125-21-246988.hdr.sgml : 20210816
<ACCEPTANCE-DATETIME>20210816080556
ACCESSION NUMBER:		0001193125-21-246988
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20210802
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210816
DATE AS OF CHANGE:		20210816

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TREX CO INC
		CENTRAL INDEX KEY:			0001069878
		STANDARD INDUSTRIAL CLASSIFICATION:	LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400]
		IRS NUMBER:				541910453
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14649
		FILM NUMBER:		211174625

	BUSINESS ADDRESS:	
		STREET 1:		160 EXETER DRIVE
		CITY:			WINCHESTER
		STATE:			VA
		ZIP:			22603-8605
		BUSINESS PHONE:		5405426300

	MAIL ADDRESS:	
		STREET 1:		160 EXETER DRIVE
		CITY:			WINCHESTER
		STATE:			VA
		ZIP:			22603-8605
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>d220526d8ka.htm
<DESCRIPTION>8-K/A
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8" ?>
<html xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:us-types="http://fasb.org/us-types/2020-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:trex="http://trex.com/20210802" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns="http://www.w3.org/1999/xhtml">
<head>
<title>8-K/A</title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
   <body>
 <div style="display:none"> <ix:header> <ix:hidden> <ix:nonNumeric id="Hidden_dei_EntityRegistrantName" name="dei:EntityRegistrantName" contextRef="duration_2021-08-02_to_2021-08-02">TREX CO INC</ix:nonNumeric> <ix:nonNumeric name="dei:AmendmentFlag" contextRef="duration_2021-08-02_to_2021-08-02">true</ix:nonNumeric> <ix:nonNumeric id="Hidden_dei_EntityCentralIndexKey" name="dei:EntityCentralIndexKey" contextRef="duration_2021-08-02_to_2021-08-02">0001069878</ix:nonNumeric> </ix:hidden> <ix:references> <link:schemaRef xlink:type="simple" xlink:href="trex-20210802.xsd" xlink:arcrole="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase"></link:schemaRef> </ix:references> <ix:resources> <xbrli:context id="duration_2021-08-02_to_2021-08-02"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0001069878</xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:startDate>2021-08-02</xbrli:startDate> <xbrli:endDate>2021-08-02</xbrli:endDate> </xbrli:period> </xbrli:context> </ix:resources> </ix:header> </div> <div style="text-align:center"> <div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto"> <p style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</p> <p style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</p> <p style="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">UNITED STATES</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">SECURITIES AND EXCHANGE COMMISSION</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">WASHINGTON, DC 20549</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">FORM <ix:nonNumeric name="dei:DocumentType" contextRef="duration_2021-08-02_to_2021-08-02">8-K/A</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Amendment No. 1)</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">CURRENT REPORT</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">PURSUANT TO SECTION 13 OR 15(d)</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">OF THE SECURITIES EXCHANGE ACT OF 1934</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman;font-weight:bold;text-align:center">Date of Report (Date of earliest event reported): <ix:nonNumeric name="dei:DocumentPeriodEndDate" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt:datemonthdayyearen">August 2, 2021</ix:nonNumeric></p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman;font-weight:bold;text-align:center"> <span style=" -sec-ix-hidden:Hidden_dei_EntityRegistrantName">TREX COMPANY, INC.</span> </p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Exact Name of Registrant as Specified in Charter)</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:34%"></td>
<td style="vertical-align:bottom"></td>
<td style="width:32%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:32%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:stateprovnameen">Delaware</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityFileNumber" contextRef="duration_2021-08-02_to_2021-08-02">001-14649</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" contextRef="duration_2021-08-02_to_2021-08-02">54-1910453</ix:nonNumeric></span></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(State or Other Jurisdiction<br />of Incorporation)</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(Commission<br />File Number)</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(IRS Employer<br />Identification No.)</span></td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:50%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:48%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityAddressAddressLine1" contextRef="duration_2021-08-02_to_2021-08-02">160 Exeter Drive</ix:nonNumeric></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center"><ix:nonNumeric name="dei:EntityAddressCityOrTown" contextRef="duration_2021-08-02_to_2021-08-02">Winchester</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:stateprovnameen">Virginia</ix:nonNumeric></p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:bottom"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityAddressPostalZipCode" contextRef="duration_2021-08-02_to_2021-08-02">22603-8605</ix:nonNumeric></span></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(Address of Principal Executive Offices)</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold">(ZIP Code)</span></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">Registrant&#8217;s telephone number, including area code: <ix:nonNumeric name="dei:CityAreaCode" contextRef="duration_2021-08-02_to_2021-08-02">(540)</ix:nonNumeric> <ix:nonNumeric name="dei:LocalPhoneNumber" contextRef="duration_2021-08-02_to_2021-08-02">542-6300</ix:nonNumeric></p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">Not Applicable</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Former Name or Former Address, if Changed Since Last Report)</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <div style="text-align:center"> <p style="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%;text-align:center;margin-left: auto;margin-right: auto">&#160;</p></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&#160;12(b) of the Act:</p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse; font-family:Times New Roman; font-size:8pt;width:100%;border:0;margin:0 auto">
<tr>
<td style="width:34%"></td>
<td style="vertical-align:bottom"></td>
<td style="width:32%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:32%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Title of each class</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading<br />Symbol(s)</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Name of each exchange<br />on which registered</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:Security12bTitle" contextRef="duration_2021-08-02_to_2021-08-02">Common stock</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:TradingSymbol" contextRef="duration_2021-08-02_to_2021-08-02">TREX</ix:nonNumeric></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:SecurityExchangeName" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></span></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:WrittenCommunications" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:SolicitingMaterial" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:PreCommencementTenderOffer" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="border-collapse:collapse; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="duration_2021-08-02_to_2021-08-02" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act &#9744;</p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&#160;</p> <p style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</p> <p style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</p></div></div>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />


<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">Explanatory Note </p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><ix:nonNumeric name="dei:AmendmentDescription" contextRef="duration_2021-08-02_to_2021-08-02">On August&#160;2, 2021, Trex Company, Inc. (Company) furnished a Current Report on Form <span style="white-space:nowrap">8-K</span> (Original Form <span style="white-space:nowrap">8-K)</span> with the U.S. Securities and Exchange Commission to report that on August&#160;2, 2021, the Company issued a press release announcing financial results for the quarterly period ended June&#160;30, 2021. In addition to issuing a press release, the Company held a conference call on the same day to discuss financial and operating results. This Amendment No.&#160;1 to the Original Form <span style="white-space:nowrap">8-K</span> is furnished to include a transcript of such conference call.</ix:nonNumeric> </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;2.02</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Results of Operations and Financial Condition </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On August&#160;2, 2021, Trex Company, Inc. (Company) issued a press release announcing its financial results for the quarterly period ended June&#160;30, 2021, as previously furnished. Also, on August&#160;2, 2021, the Company held a conference call to discuss financial and operating results. A transcript of the conference call is attached hereto as Exhibit 99.2. Please note Page 7 of the transcript on which a correction has been footnoted. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;9.01</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Financial Statements and Exhibits. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Trex Company, Inc. herewith furnishes the following exhibits: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">


<tr>

<td></td>

<td style="vertical-align:bottom;width:4%"></td>
<td style="width:92%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Exhibit</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold">Description of Exhibit</p></td></tr>


<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.2</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d220526dex992.htm">Transcript of the Trex Company, Inc. conference call held on August&#160;2, 2021, to discuss financial and operating results for the quarterly period ended June&#160;30, 2021.</a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">104.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover page Interactive Data File (embedded within the Inline XBRL document).</td></tr>
</table>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />


<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center">SIGNATURE </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">


<tr>

<td style="width:50%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:49%"></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">TREX COMPANY, INC.</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top">Date:&#160;&#160;&#160;&#160;August&#160;16, 2021</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dennis C. Schemm</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Dennis C. Schemm</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Senior Vice President and Chief Financial Officer</td></tr>
</table>
</div></div>

</body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>2
<FILENAME>d220526dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt">Trex Company, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt">Second Quarter 2021 Earnings Conference Call</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt">Monday, August 02, 2021, 5:00 PM Eastern</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt"><B>CORPORATE PARTICIPANTS</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt"><B>Bryan Fairbanks</B> - <I>President, Chief Executive Officer</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt"><B>Dennis Schemm</B> - <I>Senior Vice President, Chief Financial Officer</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt"><B>Bill Gupp</B> - <I>Senior Vice President, General Counsel and Secretary</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt"><B>Viktoriia Nakhla</B> - <I>Investor Relations</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:2.00pt solid #000000; padding-left:8pt; padding-right:2pt">&nbsp;</TD></TR>
</TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 1
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PRESENTATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Good afternoon, and welcome to the Trex Company
Second Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the &#147;*&#148; key followed by &#147;0.&#148; After today&#146;s
presentation, there will be an opportunity to ask questions. To ask a question, you may press &#147;*&#148; then &#147;1&#148; on your telephone keypad, to withdraw your question, please press &#147;*&#148; then &#147;2.&#148; Please note, that this
event is being recorded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I would now like to turn the conference over to Viktoriia Nakhla. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Viktoriia Nakhla </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you all for joining us today.
With us on the call are, Bryan Fairbanks, President and Chief Executive Officer, and Dennis Schemm, Senior Vice President and Chief Financial Officer. Joining Bryan and Dennis is Bill Gupp, Senior Vice President, General Counsel and Secretary as
well as other members of Trex management. The company issued a press release today after market close containing financial results for the second quarter 2021. This release is available on the company&#146;s website. This conference call is also
being webcast and will be available on the investor relations page of the company&#146;s website for 30 days. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I would now like to turn the call over to
Bill Gupp. Bill&#133; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bill Gupp </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you,
Viktoriia. Before we begin, let me remind everyone that statements on this call regarding the company&#146;s expected future performance and conditions constitute forward-looking statements within the meaning of Federal Securities Law. These
statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For a discussion of such risks and uncertainties, please see our most recent Form <FONT STYLE="white-space:nowrap">10-K</FONT> and Form <FONT
STYLE="white-space:nowrap">10-Qs</FONT> as well as our 1933 and other 1934 Act filings with the SEC. Additionally, <FONT STYLE="white-space:nowrap">non-GAAP</FONT> financial measures will be referenced in this call. A reconciliation of these
measures to the comparable GAAP financial measures can be found in our earnings press release at trex.com. The company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new
information, future events or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With that introduction, I will turn the call over to Bryan Fairbanks. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you, Bill, and good evening,
everyone. Thank you for joining us today to review Trex company&#146;s second quarter results, and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> performance along with our business outlook. This was
another very strong quarter with record revenues of $312&nbsp;million led by 43% sales growth at Trex Residential. Demand remains robust across all Trex Residential outdoor living product lines in both the DIY and Pro channels. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The success of our $200&nbsp;million capacity expansion program, which became fully operational one month ahead of schedule, has enabled us to take advantage
of the appeal of Trex branded products and increased conversion from the large wood market. This expansion is the largest in the company&#146;s history and increases our production levels by 70% compared to 2019 yearend levels. However, labor
constraints impacted to the extent to which we could utilize this capacity to meet the higher demand. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our new Virginia plant is highly efficient and designed for maximum output with an emphasis on quality
control and energy-efficient operations. With the capacity expansion plan largely behind us, we are pivoting our focus to cost reduction projects and continuous improvement opportunities to drive margin improvements. These efforts will be focused on
automation, energy efficiency and raw material processing. One such cost reduction project is poised to reduce the processing cost of our plastics by generating higher productivity and allowing for a wider use of low cost recycled material streams.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, thanks to the tireless efforts of our engineering team and their continuous improvement mindset, we are pleased to announce that by the end
of the year, we will install incremental decking capacity within the new Virginia facility that will further increase our production capability and improve our cost position. As a result of this initiative, Trex will have even more opportunity to
pursue further growth, as we&#146;ve been unable to fully realize due to capacity constraints. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We will be positioned to take advantage of the product
development work being done by our R&amp;D team, expand our international sales, and penetrate the new home construction market. While we continue to make significant strides with our additional capacity, we remain pleased with the continued success
of our tiered product strategy, which supports consumer decision making by providing a range of product aesthetics, features and price points that have broad-based appeal and distinct competitive advantages over wood. The winning mix of products
makes it easy for the consumer to choose Trex, and we see strong growth across all price points. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Like many other companies and industries during the
second quarter, Trex experienced labor challenges and inflationary pressures from higher raw materials and logistics costs. As a result of the inflationary pressures, Trex took a mid single-digit price increase on most products effective
August&nbsp;1, with the full impact to be seen later in the third quarter. We deliberately chose the timing of our price increase to give ample notice to our channel partners in order to minimize the impact during the peak decking season. This
action is example of the importance we place on our partnerships with distributors, dealers and contractors and doing right by them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dennis will provide
more detail around our financial results and inflationary impacts, but I want to highlight that despite inflationary headwinds, EBITDA grew by 36% during the second quarter and produced a 29% increase in diluted earnings per share. While we focus on
profitable company growth, expansion and continuous improvement, we continue to do so in a sustainable manner. Sustainability has always been a part of Trex&#146;s DNA since inception. Trex is and has always been one of North America&#146;s largest
recyclers of plastic film. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In 2020, we <FONT STYLE="white-space:nowrap">up-cycled</FONT> more than 900&nbsp;million pounds of plastic film and reclaimed
wood, most of which would otherwise be destined for landfills. At our plants, scrap boards are recycled back into the manufacturing process as well. Additionally, our ongoing efforts to improve energy and resource efficiency in our plants, helped
reduce the company&#146;s energy use related to cooling by approximately 40% in 2020, and the addition of closed loop chilled water systems significantly reduced water usage. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For a more detailed description of our ongoing ESG efforts, I encourage you to review our third annual 2020 ESG report on our website, which includes our
first disclosure of Scope 1 and 2 annual carbon emissions, and establishes a baseline for future efforts to reduce carbon emissions. The report was issued at the end of June &#145;21 and recaps a year of Building a Better Tomorrow Together, for our
customers, employees, communities, investors and the environment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 3
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dennis Schemm will now share details on our second quarter financial performance. Dennis&#133; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you, Bryan. I&#146;m pleased to
highlight the drivers of our strong second quarter results and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> performance, as well as our expectations for the third quarter and full year 2021.
Consolidated sales were $312&nbsp;million in the second quarter, compared to $221&nbsp;million in the same quarter last year. The 41% increase was driven by substantial volume growth across all Trex Residential product lines. Trex Residential sales
of $299&nbsp;million outpaced sales of $209&nbsp;million year-over-year by 43%, resulting from sustained broad-based demand and market share gains from wood. Trex Commercial Products contributed $13&nbsp;million to consolidated sales in the second
quarter of 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Consolidated gross margin for the second quarter was 38%, after absorbing an approximately 400 basis point impact related to <FONT
STYLE="white-space:nowrap">start-up</FONT> costs and inflationary pressures on key raw materials and transportation, versus 41.9% in the prior year quarter. Gross margin was also impacted by increased depreciation expense of $5&nbsp;million related
to the capacity expansion program in Trex Residential and labor constraints. Labor constraints resulted in lower sales and margins by underutilizing expanded capacity. Cost savings initiatives increased production and the impact of the January price
increase partially offset the unfavorable impacts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gross margins for Trex Residential and Trex Commercial were 38.7% and 21.6%, respectively, compared to
42.5% and 30.7%, respectively, in the year ago quarter. SG&amp;A expenses were $36&nbsp;million, an increase of 24% compared to $29&nbsp;million in the prior year quarter. The primary drivers of the increase were personnel-related expenses, higher
branding spending and a resumption of travel and entertainment expenses as COVID-related impacts eased. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a percentage of net sales, however, SG&amp;A
decreased by 170 basis points to 11.5% in the second quarter compared to 13.2% in the prior year quarter, reflecting disciplined cost management and leverage in our operating model as we rapidly grew our sales. Despite the inflationary and <FONT
STYLE="white-space:nowrap">start-up</FONT> costs we incurred during the quarter, we delivered 30% growth in net income to $61&nbsp;million or $0.53 per diluted share, up from the $47&nbsp;million or $0.41 per diluted share in last year&#146;s second
quarter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The steady focus on our strategic initiatives and our increased production capacity resulted in a 36% growth in EBITDA to $92&nbsp;million and
an EBITDA margin of 29.4%. The continued strength of the repair and remodel sector, Trex&#146;s brand leadership and increased capacity drove our impressive <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT>
performance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Consolidated net sales <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> increased 32% to
$557&nbsp;million compared to $421&nbsp;million in the prior year period. Higher net sales were primarily driven by a 34% increase in Trex Residential sales to $532&nbsp;million compared to $396&nbsp;million in the same period last year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Net income was $110&nbsp;million or $0.95 per share compared to $90&nbsp;million or $0.77 per diluted share <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-date</FONT></FONT> in 2020. EBITDA grew 29% to $163&nbsp;million compared to $126&nbsp;million, and EBITDA margin remained relatively stable at 29.2% compared to 30% for the same period in 2020. <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Year-to-date</FONT></FONT> capital expenditures were $95&nbsp;million, with the majority supporting the capacity expansion program completed in May. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 4
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date,</FONT></FONT> we
repurchased 49&nbsp;million of Trex outstanding common stock at an average price of $91 per share under the share buyback program. Trex has an approved buyback program for up to 8.3&nbsp;million shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Looking ahead, we expect third quarter consolidated net sales to range from $320&nbsp;million to $330&nbsp;million, representing <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-on-year</FONT></FONT> growth of 40% at the midpoint and reflecting continued strong consumer demand from our channel partners. We expect continued inflationary pressures in the coming
quarter as the tailwind from the August&nbsp;1, 2021, price increase will not take effect until sometime in September, as we are fulfilling orders approximately 30 days later than expected because of labor constraints. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As we navigate these challenges, we anticipate incremental EBITDA margin will be at the low end of the range of 35% to 40% for the full year. We expect to
return to more normalized EBITDA margins in the first quarter of 2022, as we are past the <FONT STYLE="white-space:nowrap">start-up</FONT> phase of our capacity expansion, and as our price increase and strong cost reduction and continuous
improvement initiatives take effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our tax rate is anticipated to be approximately 25%. Depreciation will range from $35&nbsp;million to
$40&nbsp;million, increasing throughout the remainder of the year. Full year spending on CAPEX is expected to be in the range of $130&nbsp;million to $150&nbsp;million, which includes the installation of additional decking production lines to
further boost our capacity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Now I will turn the call back to Bryan for his closing remarks. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you, Dennis. Our <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> performance places us firmly on track to achieve our stated expectation for strong double-digit growth in 2021, and the success of our capital expansion program
along with the additional capacity investments position Trex for ongoing growth and enhanced value creation for our stakeholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Most importantly, I
want to recognize the hard work and dedication of the entire Trex team as well as the continued support of our dealers, retailers, distributors and contractors who continue to be great partners and key to our growth. Trex&#146;s extraordinary
success is due in large part to all of you. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Operator, we can now take questions. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>QUESTION AND ANSWER </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. And we will now begin the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">question-and-answer</FONT></FONT> session. To ask a
question, you may press &#147;*&#148; then &#147;1&#148; on your touchtone phone. If you are using a speakerphone, please pickup your handset before pressing the keys, to withdraw your question, please press &#147;*&#148; then &#147;2.&#148; In the
interest of time, we kindly ask you to please limit yourself to one question and one follow up. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our first question today will come today will come from
Jeff Stevenson with Loop Capital. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Jeff Stevenson </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi. Thanks for taking my question. My first one is just, has raw material inflation peaked in the second quarter? Do you expect any incremental inflation in
the back half of the year? And then following up on that, do you believe the August <FONT STYLE="white-space:nowrap">mid-single-digit</FONT> increase will be enough to offset these higher inflation pressures, or do you think you&#146;ll need
incremental pricing in the second half? </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 5
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Well, we&#146;ve not seen any of the raw materials start to come down in the market as of yet. We continue to receive new notifications of increases in price.
So, I expect the third quarter to be a higher impact than the second quarter. But of course, we&#146;ve got the pricing coming in. As we look forward, it&#146;s too early to predict what inflation is going to do out in 2022. But in order of
priority, we will continue to focus on continuous improvement, cost reduction, and of course, we will look at pricing as appropriate to make sure that we&#146;re offsetting any new costs that flow through to Trex related to inflation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Jeff Stevenson </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. That&#146;s helpful. And then just
on the new Virginia capacity addition, can you give us any more color on how incremental this is, the capital investment and potential impact on margin like the prior expansion? Any more color there would be helpful. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sure. If you compare it to what we
provided last time, it was a 70% increase in capacity. This will be approximately 15% additional capacity. We haven&#146;t been as specific on the actual investment, but it is included within the guidance for the capital spending we provided for
2021. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Jeff Stevenson </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got it. Thanks for your help
and all the best. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Great. Thank you.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Keith
Hughes with Truist. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Good evening, Keith. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Keith Hughes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. Hi, how are you all? Couple of questions. One, you listed off the drivers of a 400 basis points down in gross margin. Can you kind of put a
magnitude on those? What was the biggest hit, second biggest hit, things of that nature? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes. So, if I were to rank order these, right, so I would first start with inflation. Clearly, that is where most of the margin pressure is coming from. Then
as you walk it down, <FONT STYLE="white-space:nowrap">start-up</FONT> costs were clearly pretty significant in the quarter as well. As you know, we had April and May with <FONT STYLE="white-space:nowrap">start-up</FONT> costs as we completed the
expansion program in late May. From there, I would look at depreciation expense as well as that had a significant impact, too. And then we also had labor shortages impact us as well, because of the tight labor market, we weren&#146;t able to run all
of our lines as much as we would have liked. And as a result, we have absorption impact from that. If we want to go back into the inflation for a little bit more detail, right, I would look at it as raw material inflation and then from a
transportation perspective, we were hit with higher logistics costs. So those would be the two drivers within inflation that were the biggest impact. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 6
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Keith Hughes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. And as you look at the inflation moving into the third quarter, is that still a function of transportation costs still moving up. And I&#146;m referring
to translation within raw material getting to your facilities. Is that what&#146;s changing or is that the actual base material itself? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Now, what we&#146;re actually seeing more of is the base material starting to rise on some of the key raw materials. The transportation market still
remains high, but it&#146;s really on the base level of the materials where the inflation is increasing. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Keith Hughes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay, thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks, Keith. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Ryan Merkel with William Blair. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ryan Merkel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi guys. Thanks for taking the question.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi Ryan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ryan Merkel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">So I guess, first off, you mentioned labor
constraints hurt production. What solutions are you working on, and have you seen any improvement? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, sure. So there have been quite a few things that we have implemented at our manufacturing environments to improve our ability to run all of our lines. We
have changed the wage structure for a number of the positions that we have. It hasn&#146;t been across the board, but there have been certain areas where we have increased wages. Second thing, as it relates to over time, we have put some additional
incentive programs in place to encourage more people to work the over time that we need with the additional lines. And then the last is a much broader focus on recruiting, so getting more people through the doors that we can help run our lines. One
example is that we&#146;ve moved heavily into this year, is what we call our Level Up program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For most of Trex&#146;s history, we&#146;ve hired people
at the entry level and then we trained them through all of our manufacturing processes as they move up through manufacturing. We recognize that there are highly skilled capable people available in our local economies, and we&#146;ve gone ahead and
started recruiting directly for those individuals, of course, paying about a higher wage rate than just coming into Trex as a newer and unfamiliar employee along the way. We continue to look for new ideas out there. We hope that with the change in
government benefits as we move through September, the number of people that are coming back into the market increase further from what we&#146;ve already seen, and of course, we operate in states where we continue to pay the higher level of
unemployment benefits for the full statutory period of time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 7
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ryan Merkel </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got it. Alright. That&#146;s going to be important given the new capacity. And then secondly, just how should we think about gross margins in the second half
at this point. I know you&#146;re going to be at the lower end of the incremental margins, but it sounds like we&#146;ll improvement just a little bit slower than expected and then fourth quarter presumably would be kind of the best quarter. Is that
fair? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I think that&#146;s a real fair
way to look at it. The way I&#146;m thinking about this is, the gross margin pressures in my mind are more transitory in nature. So if you think about these, I&#146;ll take each one that I talked about earlier. Inflation, we took our price increase
with the <FONT STYLE="white-space:nowrap">90-day</FONT> advance notice. And then on top of that, because of labor constraints, we&#146;re fulfilling July orders essentially in the <FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff4338"><STRIKE>September</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0082ca"><U>August</U></FONT><FONT
STYLE="font-family:Times New Roman"><U>1</U> timeframe, right. So this is making it harder for us to get our price increase out there. So that&#146;s one. So, our price increase will take effect in September and that will address the inflation. The <FONT
STYLE="white-space:nowrap">start-up</FONT> costs are behind us at this point. So we won&#146;t be seeing that recur in Q3. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Labor shortages
eventually are going to get righted. Bryan talked a lot about some of the initiatives that we&#146;re working here internally which are seeing positive impact, but over the longer-term that&#146;s going to right itself as well. And then finally
depreciation will lap that in Q3 of next year, so all of these issues are transitory in nature. And then as you think about the back half, we&#146;re going to start pivoting to these cost reduction and continuous improvement projects that will help
to elevate our gross margins going forward. We&#146;re predicting to see Trex standard margins, the gross margins that you are all used to back in Q1 of 2022. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ryan Merkel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alright, very helpful. Thanks. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks, Ryan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Michael
Rehaut with JP Morgan. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Michael Rehaut </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, good afternoon, everyone. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi Michael. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Michael Rehaut </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">First question, just wanted to make sure I understood it right, or how to think about it. You kind of gave some puts and takes on the gross margins. And in
terms of maybe expecting a little bit of improvement from the second quarter where you have the 38%, am I to kind of take away that you&#146;ll see a little bit more raw material inflation, you will see less
<FONT STYLE="white-space:nowrap">start-up</FONT> costs, I don&#146;t know if they would offset each other. But then the reason you&#146;re expecting some improvement of the 38%, is that if you have some costs alleviating, some cost increasing, but
then on top of that, you have the price increases coming through in September. Is that the right way to think about it? </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><U>1</U></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>The month has been changed to correct an error in Mr.&nbsp;Schemm&#146;s comment.</U> </P></TD></TR></TABLE>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 8
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, I think you&#146;ve pretty much hit everything there, the price increase will come through in September, that will be a month later than we had originally
intended. We&#146;ll continue to see some of the raw material cost climb throughout the third quarter. I hope that third quarter ends up being the peak period and things level out from that perspective. The
<FONT STYLE="white-space:nowrap">start-up</FONT> costs are behind us in the third quarter. So that&#146;s one of the capabilities that we see on a quarter-over-quarter basis. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Michael Rehaut </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay, that&#146;s great. Thank you. And
then just to <FONT STYLE="white-space:nowrap">follow-up.</FONT> I guess, shifting to the topline. You came in a little bit above I believe guidance for this quarter, kind of hit our number, at least the high end of your range hit our number for the
third quarter. As we think about the fourth quarter, obviously, you haven&#146;t given guidance yet, obviously you have a lot more capacity now, it&#146;s fully up and running. But at the same time, I think you talked about maybe eventually taking
some of it offline at points which is to do improvements, maybe some downtime, obviously there is still a very strong demand backdrop and you can operate at a higher sales rate. But should we be expecting some type of pullback decline at least
sequentially 4Q versus 3Q, just more from either maintenance or retooling standpoint? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I would expect a similar production number in the fourth quarter and it&#146;s really all dependent upon how much of the channel inventories can get filled
during the third quarter. We do see some evidence of that at least in certain channels. Inventory is being filled at this point and then there&#146;s other channels where we have quite a few backlogs that still need to be addressed. So as we move
through the quarter, we&#146;ll have better visibility on that, I would expect that we&#146;ll continue running the capacity and build the inventory necessary to give our customers the confidence that we have everything that they need. And then
we&#146;d be in a position to start taking lines down for a little bit longer period if we get out into next year. And we&#146;ve got the inventory throughout the channel. We can do the maintenance that we&#146;ve wanted to do, as well as improve
some of the assets for improved cost positions. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Michael Rehaut </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Great. Thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Matthew Bouley with Barclays. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Matthew Bouley </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hey, good afternoon. Thanks for taking
the questions. So, on the Q3 revenue guide, obviously, the prior commentary, I think was for Q3 revenue growth to be stronger than that of Q2. And then correct me if I&#146;m wrong, obviously, Q2 came in stronger than the prior guide, and
you&#146;ve been very clear that these labor shortages here are probably another piece. But obviously, what I&#146;m getting at is it kind of begs the question, if there&#146;s anything in the demand picture that is perhaps any less robust than what
you were thinking three months ago, anything in DIY or retail? It would help if you can clarify some of that commentary. Thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes. I think it&#146;s a great question. Our guidance is more based off of the labor constraints that we see in the marketplace. The base market, the
consumer demand through all of our channels continues to be very strong. We&#146;ve got no concerns about changes that are there, and I fully </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 9
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
expect that, I think with the volume we have, we are moving through the peak part of the decking season that we will start to see some inventories built. But we&#146;re not seeing a falloff in
consumer demand from a growth perspective? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Matthew Bouley </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. Wonderful. Thank you for that color. Second one is, you continue to highlight the builder market, not the first time you&#146;ve said something along
those lines. I&#146;m just curious, as you&#146;re now again, looking at additional capacity coming online, where do you see those opportunities? Is it geographically, production builders nationally versus custom builders? How do you kind of dip
your toe into that market? Thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I would say, with the custom builders, we already have pretty decent relationships because they tend to be the higher end homes that are already looking for
composite decking. So I&#146;d say, this will be mostly focused on the production builders and showing the builders the case for them to earn a higher level of profitability, and of course, less callbacks on the deck. Most wood decks when they built
are going to have a warranty call back within that first 12 months. So that small amount of additional cost that they&#146;re willing to put in and can then charge the customer for having a Trex deck will offset that longer-term risk for them. We
see it as a great opportunity with the new capacity that we have and somewhat of a market that hasn&#146;t been tapped to the potential available. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Matthew Bouley </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Great. Well, thank you for that color,
Bryan. Good luck. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks, Matt.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Ketan
Mamtora with BMO Capital. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ketan Mamtora </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Good afternoon, and thank for taking my question. Maybe coming back to the discussion around inventories, can you give us some sense of where you think channel
inventories are at this point? I know, you&#146;ve been trying to rebuild that. You think as you exit Q3, you would have gotten to a point where you feel more comfortable with where they are? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I think we will feel more comfortable.
The question is, to what degree of comfort that we&#146;ll feel at that point. Inventories are not where we would like them to be in the channel or on our ground at this point. So, we have some work to do to get everything back to a normalized
environment. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ketan Mamtora </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Understood. And the
other thing, you also talked about in your release, sort of expanding on the international side. Maybe talk a little bit about kind of where you see the most opportunity, and how you see that kind of playing out over the next two, four years? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We&#146;ve seen significant growth in
the international markets this year as we&#146;ve had the additional capacity available to serve. So, everything with that strategy continues as we have expected. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 10
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
When we look out over the next four to five years and we can supply everything that&#146;s needed, it&#146;s mostly going to be the larger markets with a higher GDP and interest in outdoor
living. We have distribution relationships already built in most of these economies, and we&#146;re still really just very much in the first inning of opportunity in those marketplaces. So, we&#146;re pretty excited about it as another opportunity
for growth. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ketan Mamtora </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks, Ketan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Tim Wojs
with Baird. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tim Wojs </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi guys. Good
afternoon. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Good evening. How are
you? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tim Wojs </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I&#146;m good. Thank you. Maybe just
thinking about 2022, at this point, any leading indicators whether it&#146;s sampling or website traffic or decks.com traffic that you could kind of cite that gives you confidence into visibility around demand heading into next year? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, I wouldn&#146;t say that we have
necessarily anything within our own systems that indicate 2022 demand. But as we look at where the marketplace is, consumer confidence continues to be at a high level. There is still a lot of capital out in the marketplace. Even though we&#146;ve
seen many of our consumers start moving&#133;to spending more money on travel, it really hasn&#146;t impacted the spending on repair and remodel. So, we expect a very robust prepared remodel moving into next year. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tim Wojs </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. Okay. And then when you think about
price, just mathematically, given the realizations, will you actually have more price from the 2021 increases next year than this year? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, I would expect that we would, given that we&#146;ll have a delayed impact of our August&nbsp;1 price increase more hitting that September
timeframe. So, yes, that is how I would see it. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tim Wojs </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay, great. Well, good luck in the back half of the year guys. Thanks for everything. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks Tim. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 11
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Stanley Elliott with Stifel. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stanley Elliott </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hey Bryan, Dennis! Thank you guys for
taking the question. As it relates to pricing in the back half, I mean, you&#146;ve got the August price increase. Was this impacting your thoughts around early order programs in terms of what you want to do there to get product out in the
marketplace at higher price points? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Well, we always look at our year end program in relation to the inventories that are in the market, the capacity we have available to serve, and the dynamics
that are occurring as part of general marketplace and with the consumer. That&#146;s something that our sales team spends a lot of time working on generally during the third quarter, and that&#146;s an effort still to be completed here. So I think
the answer is yes, because it&#146;s always part of the impact and how we look at pricing, and how it might flow into those programs, it&#146;s something that will be considered. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stanley Elliott </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">When we think about kind of margins
returning in 1Q 2022 to kind of some of the more normal margins, more incrementals, is that really just the pricing kind of catching up? I&#146;m curious how long it&#146;s going to take for some of these cost reduction programs, continuous
improvement programs to roll through. Is that going to be more of a benefit into the latter part of the year? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I see, by then, we start moving through the noise of the capacity expansion that we&#146;ve been experiencing over the last year. So we won&#146;t have the <FONT
STYLE="white-space:nowrap">start-up</FONT> costs moving into beginning of next year. We will see some of these cost improvement programs that we&#146;re going after come into play. And then of course there will be the pricing that Dennis talked
about. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stanley Elliott </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Great guys. Thank you very
much and best of luck. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next
question will come from Trey Grooms with Stephens Inc. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trey Grooms </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, Bryan and Dennis. Hope you&#146;re all doing well! </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan
Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Great, thanks Trey. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trey Grooms </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">So just touching on the cost improvement initiatives that you talked about just a minute ago, and you kind of laid out focus on automation, energy efficiency,
raw material processing, is there any way to maybe help us understand what the impact here could be? I know this is something you guys are continuously going after. So, will this be a step function and any comments you could give us on the timing
there? </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 12
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The size of the Trex Company is very different from where we were five years ago. I see this as a continuous improvement where we will get back to having a
pipeline of projects that will drive cost savings to the organization and they will come in over the course of the year. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trey Grooms </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. The course of &#145;22 primarily? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We&#146;ll start to see them coming in, in the back half of this year. Now that we&#146;re through capacity and that additional into next year, and
more of that cost saving benefits as we will have a full year of anything that comes in this year. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trey Grooms </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Perfect, perfect. Thank you for that. And then on the labor constraint, I know we&#146;ve touched on several times on the call, and I know you guys are seeing
some of that. You mentioned that, but as you look across, is this more than just on your side or there&#146;s also some labor constraints in the channel, or at the installer level or just across the board as far as labor goes? If it is, outside of
just you guys, so I assume it is probably, are you hearing any improvement out there outside of just Trex only, but further out into the channel? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">So labor constraints have impacted our
suppliers, our raw material. We&#146;ve been able to work through that having appropriate level of safety stocks on the ground. The same labor impacts have impacted our contractors, where if they can put additional crews on, they absolutely would to
try to reduce their time to the marketplace, but it&#146;s very difficult to find those individuals and then train them to appropriately build a deck. As I get out and talk with the folks in our selling channel, same issues there. It&#146;s just
very difficult to bring new people in and many cases they&#146;ve got longtime employees that really know the business very well. There hasn&#146;t been turnover from that perspective, but bringing new individuals in to manage the growth has been a
challenge </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trey Grooms </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes. Alright, understandable.
I&#146;ll leave it there. Thanks guys and good luck. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks Trey. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Phil Ng with Jefferies. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Phil Ng </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, guys. I&#146;ve got a question for Dennis.
First of all you guys saw a really good SG&amp;A leverage in the quarter. So curious, from an EBITDA margin standpoint, when do you expect EBITDA margins to inflect positively? Was it tied to that 1Q timeframe as well Dennis? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, it will start to pick up here more in
the latter half of the year for sure. And then it will follow suit of course, with the gross margin improvement. So you&#146;ll continue to see this leverage story play out in a very significant way. I think we have that near term and longer term in
play, right. So near term, we&#146;re going to see more of a normal spending pattern for SG&amp;A, right. So medical is coming back, we have travel and entertainment coming back, we&#146;re reinvesting in the brand, all of which we pulled back in
2020. Then longer term as we move into 2021, you&#146;re going to see that leverage story really start to play out, because we don&#146;t have to advertise or brand for Enhance and it will become a greater part of our product mix.Then that leverage
really starts to take off. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 13
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Phil Ng </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got it. Okay, that&#146;s helpful. And then a question for you, Bryan. So in the comments you were talking about in terms of expanding into the new
construction side and international with the capacity freeing up. Any wins that you could call out on the production builder side. You don&#146;t have to give me the company, but any noticeable wins? And then to kind of really drive growth here, are
you making any real investments, whether it&#146;s on the sales force side or anything else that we should be mindful of? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Well, from an investment perspective, yes, we&#146;re making investments in a number of different areas within the organization, including sales, and
specifically on the new builder side. As it relates to specific wins that are out there, probably a bit too early to get into that discussion, because we need to make sure that our channels are filled with products. So discussions are being had at
this point, that&#146;s really the early stage of it and as we begin to fill that channel and get back to more normalized operating parameters, I think we&#146;ll be in a good shape to be able to talk about some of those contract wins. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Phil Ng </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Is it going to be noticeable enough that
we&#146;ll see it in on the volume side in a noticeable fashion, call it like back half of next year or is going to be really more of a 2023 event? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Difficult to say right now. I&#146;m not
sure that that initiative on its own, I&#146;ll be in a position to call out here is what the specific growth from it. We&#146;ll understand as it comes into our sales opportunities along the way, but we&#146;ll have to wait as we look at what next
year&#146;s growth opportunities are and where we stand on inventories coming into the end of the year, that will really be a key determinant. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Phil Ng
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay, great. Thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Reuben Garner with The Benchmark Company. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Reuben Garner </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks. Good evening, Bryan and Dennis.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, Reuben. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Reuben Garner </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Most of my questions have been answered. I
just have a <FONT STYLE="white-space:nowrap">follow-up</FONT> on the SG&amp;A front. Dennis, you mentioned expenses normalize in Q2. I think historically, it&#146;s been kind of a high watermark for SG&amp;A dollars. Are you guys still kind of
ramping some of the marketing costs and travel and other things that were taken out temporarily last year and that $36&nbsp;million roughly that you spent in Q2 might not be the high watermark for the year as a result? </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 14
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">So what we saw last year, we had about $29&nbsp;million in SG&amp;A. We ramped it to $36&nbsp;million here in Q2. So $7&nbsp;million <FONT
STYLE="white-space:nowrap">pick-up.</FONT> I think it&#146;s a pretty high watermark for us yet, I still think we&#146;re going to see a little more spend here in Q3 just because there will be more travel. We&#146;re predicting a little bit more
medical and some branding as well. So I would expect things to be normalized to a rate around this level. I don&#146;t think it&#146;s going to be much higher. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I think as you look out at next year,
the percentages by quarter will probably normalize if you go back to <FONT STYLE="white-space:nowrap">pre-pandemic</FONT> timeframe. We get back to having Builder Show. We get back to normal advertise timing. We get back to having distributor
meetings, normal travel and entertainment from our sales team. So I expect next year to look like a much more normalized environment, whereas this year we still have the impacts from the pandemic, some things of which we&#146;re spending on, other
things we&#146;re not spending as much on. But that will build as we go through the year and then normalize for next year. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Reuben Garner </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Perfect. Thank you, guys. And congrats on the results. Good luck. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alright, thank you. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And once again, if you&#146;d like to ask a
question, please press &#147;&#148; then &#147;1.&#148; Our next question will come from Alex Rygiel with B Riley FBR. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Alex Rygiel
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. Bryan, can you comment on the significant volatility in lumber prices broadly and how that sort of helped demand and how it might change
demand as lumber prices pull back here? And then can you also comment on the higher end wood product sort of marketplace that you compete with and what pricing looks like, and availability looks like there as a lot of that product is sourced
internationally? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay, so for the
standard lumber business, of course, the future shot up earlier this year. All of those, while the futures have come back down again, the actual prices in the marketplace have not returned back to those same levels. Let&#146;s call it about $0.80,
$0.85 a linear foot for lumber. So it definitely has been a help in this marketplace as people come in and understand that I could spend $1.60 on buying a piece of lumber. I could spend $1.60 a foot and buy Trex or maybe $2.50 and move up to the
Enhanced product. So it&#146;s been a bit of a tailwind for us. As we look out over the longer term, I don&#146;t expect lumber from a retail perspective to drop back down to that $0.85 again. So there will be a tightened spread between our pricing
and where lumber is, and we&#146;ll continue to pursue the same marketing strategy that we have for the past few years, converting those lumber buyers at roughly a 2 times price premium to move up to Trex. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As it relates to the higher end part of the marketplace, I&#146;m not as familiar with the pricing out there. I&#145;ve been visiting a few dealers earlier
this month. I noted that a couple of the species are very difficult to get because they are coming Internationally. In some cases, they are coming from endangered rainforests. So it&#146;s more and more difficult to be able to get those types of
materials. And those consumers often now are looking to do the right thing environmentally and moving over to our Trex Transcend high products is a pretty easy sale for the dealer or the contractor to make. And our product tends to be easier to work
with the exotic hardwoods as well. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 15
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Alex Rygiel </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very helpful, thank you. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, thanks. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And our next question will come from Kurt Yinger with D.A. Davidson. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kurt Yinger </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Great, thanks and good afternoon Bryan and
Dennis. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Good afternoon. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Good afternoon. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kurt Yinger </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I guess, ignoring the labor constraints and
the channel inventory for a minute, it does seem like you&#146;re in a pretty good place relative to the rest of the industry in terms of having incremental capacity to respond to demand. I&#146;m just curious if that plays into your messaging or
sales strategy with your channel partners, and whether you think that&#146;s something that can be a transitory or more lasting advantage in terms of market share? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We expect that the capacity that we put
on, and we&#146;ll continue to add through the end of this year, will give us an advantage. And I expect over time we will need additional capacity. Last we talked, I think we said this gives us a couple of years of capacity. If the market continues
growing at this level, it will probably be a little bit shorter of time, but these are regular discussions that the management team has with each other as well as our board of directors, and we&#146;ll ensure that we stay ahead of the market. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kurt Yinger </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got it. Okay. That makes sense. And then
just going back to the inflation topic, I guess on recycled films specifically, in the past, I think that was pretty correlated with virgin resin prices, the last couple of years, it&#146;s decoupled. Are we back to the point where those two are
moving in the same direction again and any color you could provide in terms of expectations for pricing there? </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The answer is yes and no. There is more correlation than there has been over the past few years. Past few years, the two markets were completely separate. As
we&#146;ve seen the virgin marketplace go over a $1 a pound, we have seen some correlation creep back into the market. We&#146;ve seen some of the recycled materials price increase has been in the <FONT STYLE="white-space:nowrap">mid-teens</FONT>
type level on a year-over-year basis. So when we talked about increasing costs in the third quarter, I think that&#146;s something that we&#146;ll continue to see. Historically, generally the recycled market tends to move six to nine months after
the virgin marketplace, and that&#146;s basically what we&#146;re seeing at this point. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">
 16
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kurt Yinger </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got it. And just one more quickly. I mean is that something where as you consume more recycled material and perhaps has to move out further, you would expect
pricing generally to increase or do you think you can offset that by expanding some of these lower quality materials that otherwise wouldn&#146;t have a home? </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Yes, I think we&#146;ll be able to
expand the uses of material and some of these with lower priced opportunities that are not being taken advantage of today in the marketplace. So we talked, I guess it was the end of last year coming into this year, that we were going to be going
further for that material. And with that comes additional logistics cost. So we&#146;ll continue to see that as we move through this year and into next. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kurt Yinger </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got it. Okay. Well appreciate all the color.
And good luck in the back half. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks Kurt. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And this will conclude our <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">question-and-answer</FONT></FONT> session. I&#146;d like to turn
the conference back over to Bryan Fairbanks for any closing remarks. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONCLUSION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Well, thanks everybody for your questions
and attendance in today&#146;s conference call. We look forward to speaking with many of you during the quarter at conferences and other events. Thank you and have a great evening. Bye. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The conference has now concluded. Thank you for
attending today&#146;s presentation. You may now disconnect your lines at this time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Trex Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Monday, August 02, 2021, 5:00 PM Eastern </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>trex-20210802.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20210621.2 -->
<!-- Creation date: 8/14/2021 2:09:17 AM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<xsd:schema
  xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric"
  xmlns:num="http://www.xbrl.org/dtr/type/numeric"
  xmlns:us-types="http://fasb.org/us-types/2020-01-31"
  xmlns:trex="http://trex.com/20210802"
  xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31"
  xmlns:xbrli="http://www.xbrl.org/2003/instance"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xbrldt="http://xbrl.org/2005/xbrldt"

  attributeFormDefault="unqualified"
  elementFormDefault="qualified"
  targetNamespace="http://trex.com/20210802"
  xmlns:xsd="http://www.w3.org/2001/XMLSchema">
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/instance" />
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/linkbase" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd" namespace="http://xbrl.sec.gov/dei/2020-01-31" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/numeric" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/non-numeric" />

    <xsd:import schemaLocation="https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd" namespace="http://xbrl.sec.gov/naics/2017-01-31" />
    <xsd:import schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" namespace="http://xbrl.org/2005/xbrldt" />
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="trex-20210802_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:title="Label Links, all" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="trex-20210802_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:title="Presentation Links, all" xlink:type="simple" />
      <link:roleType roleURI="http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation" id="Role_DocumentDocumentAndEntityInformation">
        <link:definition>100000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>4
<FILENAME>trex-20210802_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20210621.2 -->
<!-- Creation date: 8/14/2021 2:09:17 AM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cover [Abstract]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security 12b Title</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security 12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentDescription" xlink:type="locator" xlink:label="dei_AmendmentDescription" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentDescription_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Description</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentDescription_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Description</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>trex-20210802_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20210621.2 -->
<!-- Creation date: 8/14/2021 2:09:17 AM Eastern Time -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
    xmlns:link="http://www.xbrl.org/2003/linkbase"
    xmlns:xlink="http://www.w3.org/1999/xlink"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
    xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="trex-20210802.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityRegistrantName" order="22.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentFlag" order="23.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityCentralIndexKey" order="24.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentType" order="26.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentPeriodEndDate" order="27.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityIncorporationStateCountryCode" order="28.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityFileNumber" order="29.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityTaxIdentificationNumber" order="30.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressAddressLine1" order="31.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressCityOrTown" order="32.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressStateOrProvince" order="33.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressPostalZipCode" order="34.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CityAreaCode" order="35.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_LocalPhoneNumber" order="36.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_Security12bTitle" order="37.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_TradingSymbol" order="38.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SecurityExchangeName" order="39.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_WrittenCommunications" order="40.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SolicitingMaterial" order="41.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementTenderOffer" order="42.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementIssuerTenderOffer" order="43.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityEmergingGrowthCompany" order="44.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentDescription" xlink:type="locator" xlink:label="dei_AmendmentDescription" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentDescription" order="45.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>6
<FILENAME>d220526d8ka_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="trex-20210802.xsd" xlink:type="simple"/>
    <context id="duration_2021-08-02_to_2021-08-02">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001069878</identifier>
        </entity>
        <period>
            <startDate>2021-08-02</startDate>
            <endDate>2021-08-02</endDate>
        </period>
    </context>
    <dei:EntityRegistrantName
      contextRef="duration_2021-08-02_to_2021-08-02"
      id="Hidden_dei_EntityRegistrantName">TREX CO INC</dei:EntityRegistrantName>
    <dei:AmendmentFlag contextRef="duration_2021-08-02_to_2021-08-02">true</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey
      contextRef="duration_2021-08-02_to_2021-08-02"
      id="Hidden_dei_EntityCentralIndexKey">0001069878</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="duration_2021-08-02_to_2021-08-02">8-K/A</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="duration_2021-08-02_to_2021-08-02">2021-08-02</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode contextRef="duration_2021-08-02_to_2021-08-02">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="duration_2021-08-02_to_2021-08-02">001-14649</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="duration_2021-08-02_to_2021-08-02">54-1910453</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="duration_2021-08-02_to_2021-08-02">160 Exeter Drive</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="duration_2021-08-02_to_2021-08-02">Winchester</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="duration_2021-08-02_to_2021-08-02">VA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="duration_2021-08-02_to_2021-08-02">22603-8605</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="duration_2021-08-02_to_2021-08-02">(540)</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="duration_2021-08-02_to_2021-08-02">542-6300</dei:LocalPhoneNumber>
    <dei:Security12bTitle contextRef="duration_2021-08-02_to_2021-08-02">Common stock</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="duration_2021-08-02_to_2021-08-02">TREX</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="duration_2021-08-02_to_2021-08-02">NYSE</dei:SecurityExchangeName>
    <dei:WrittenCommunications contextRef="duration_2021-08-02_to_2021-08-02">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="duration_2021-08-02_to_2021-08-02">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="duration_2021-08-02_to_2021-08-02">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="duration_2021-08-02_to_2021-08-02">false</dei:PreCommencementIssuerTenderOffer>
    <dei:EntityEmergingGrowthCompany contextRef="duration_2021-08-02_to_2021-08-02">false</dei:EntityEmergingGrowthCompany>
    <dei:AmendmentDescription contextRef="duration_2021-08-02_to_2021-08-02">On August&#160;2, 2021, Trex Company, Inc. (Company) furnished a Current Report on Form 8-K (Original Form 8-K) with the U.S. Securities and Exchange Commission to report that on August&#160;2, 2021, the Company issued a press release announcing financial results for the quarterly period ended June&#160;30, 2021. In addition to issuing a press release, the Company held a conference call on the same day to discuss financial and operating results. This Amendment No.&#160;1 to the Original Form 8-K is furnished to include a transcript of such conference call.</dei:AmendmentDescription>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.21.2</span><table class="report" border="0" cellspacing="2" id="idm140613522082632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Aug. 02, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">TREX CO INC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001069878<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K/A<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug.  02,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-14649<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">54-1910453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">160 Exeter Drive<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Winchester<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">VA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">22603-8605<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(540)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">542-6300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Common stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TREX<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentDescription', window );">Amendment Description</a></td>
<td class="text">On August&#160;2, 2021, Trex Company, Inc. (Company) furnished a Current Report on Form 8-K (Original Form 8-K) with the U.S. Securities and Exchange Commission to report that on August&#160;2, 2021, the Company issued a press release announcing financial results for the quarterly period ended June&#160;30, 2021. In addition to issuing a press release, the Company held a conference call on the same day to discuss financial and operating results. This Amendment No.&#160;1 to the Original Form 8-K is furnished to include a transcript of such conference call.<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of changes contained within amended document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>8
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M=]W3CHG&K=!X#;[Q3X?#KHG&J]!TZVDF)_VN:Z3I%FA"1N/K>A(5M>5 TR
M6'!VULS2 Y9>*?IUE!K9';O=05SP6.XYB1'^QL4$UFG2&98T1G*=D 4. #?$
MT4Q0?*]!MHK@PI+27)#6SRFU4!H(FLB!]4>"(<7<K_WUE[O)I#-ZG7TZSFN4
M?VFK :?MNYO/D_QSZ.2?IY/734+.<+PL"?'[(UMAAR=N.Q-R.AQG0GS/]O:1
MI24RS^_Y"NM./&<?5I:P7<_/Y)Z,<B.[W?98??9/1VXCUZG LR+7E$8D19_(
M+;KD$3BU20TR$S\(G8:8:E < J0),9:AAOBTQJP1X!-]M[X(R-^-B/>K;YH]
M5Z%82=J$^!!&&N*<<^9ST6S[!Z5&T?95O-RCEU@5 9<8WS2J-2S%UGB5P/&M
MG#P=$Q+-E L&08:7)"82J3E^34@3_BNEVOZ<TT#PE"\D^DJ1CVFS(Z=T)LWH
M,QK!1J\;=8=HTCQZ_@7YG#4*')$;'0)G&[-&(81IN_ >KR2.FJW"$2M"/F(9
M-AIRM1:!MG&IA&!:$L;1>$[2M!'\6:PUDSY@R.S-D77.UI$.$9)>-T(^8LZ+
MD!&_'H8X2IKMHG%8!/V>7L-)P>B"RV;]N'Z&U3-L+([W1]072N0/)J<_Z3(T
M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+
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MU4#E/]O4#6CV#30<D05>,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04
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M\"R3(ZSV]O/8!8[Z/>?8AE+YOVMW\,_"Q]!,0L%M!M(@TN]YIX.NX]B(JJW
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MGSE; Y;G</0H&<8-37[[Z!C/PAA '5+XVIZVH3 41E5^6MW:BID53&7?";0
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M='@//GL?)=-[*CG_5U/\!%!+ P04    " "Z0!!3EXJ[',     3 @  "P
M %]R96QS+RYR96QSG9*Y;L,P#$!_Q=">, ?0(8@S9?$6!/D!5J(/V!(%BD6=
MOZ_:I7&0"QEY/3P2W!YI0.TXI+:+J1C]$%)I6M6X 4BV)8]ISI%"KM0L'C6'
MTD!$VV-#L%HL/D N&6:WO606IW.D5XA<UYVE/=LO3T%O@*\Z3'%":4A+,P[P
MS=)_,O?S##5%Y4HCE5L:>-/E_G;@2=&A(E@6FD7)TZ(=I7\=Q_:0T^FO8R*T
M>EOH^7%H5 J.W&,EC'%BM/XU@LD/['X 4$L#!!0    ( +I $%,<.&7J/P$
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M?P%02P$"% ,4    " "Z0!!3!T%-8H$   "Q    $               @ $
M    9&]C4')O<',O87!P+GAM;%!+ 0(4 Q0    ( +I $%.XN+0\[P   "L"
M   1              "  :\   !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0
M   ( +I $%.97)PC$ 8  )PG   3              "  <T!  !X;"]T:&5M
M92]T:&5M93$N>&UL4$L! A0#%     @ ND 04RK0=O9)!0  WQ(  !@
M         ("!#@@  'AL+W=O<FMS:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0
M   ( +I $%.?H!OPL0(  .(,   -              "  8T-  !X;"]S='EL
M97,N>&UL4$L! A0#%     @ ND 04Y>*NQS     $P(   L
M ( !:1   %]R96QS+RYR96QS4$L! A0#%     @ ND 04QPX9>H_ 0  / (
M  \              ( !4A$  'AL+W=O<FMB;V]K+GAM;%!+ 0(4 Q0    (
M +I $%,D'INBK0   /@!   :              "  ;X2  !X;"]?<F5L<R]W
M;W)K8F]O:RYX;6PN<F5L<U!+ 0(4 Q0    ( +I $%-ED'F2&0$  ,\#   3
M              "  :,3  !;0V]N=&5N=%]4>7!E<UTN>&UL4$L%!@     )
-  D /@(  .T4      $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.21.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>96</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>0</UnitCount>
  <MyReports>
    <Report instance="d220526d8ka.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>100000 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K/A" original="d220526d8ka.htm">d220526d8ka.htm</File>
    <File>d220526dex992.htm</File>
    <File>trex-20210802.xsd</File>
    <File>trex-20210802_lab.xml</File>
    <File>trex-20210802_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2020-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>14
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "d220526d8ka.htm": {
   "axisCustom": 0,
   "axisStandard": 0,
   "contextCount": 1,
   "dts": {
    "inline": {
     "local": [
      "d220526d8ka.htm"
     ]
    },
    "labelLink": {
     "local": [
      "trex-20210802_lab.xml"
     ],
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-doc-2020-01-31.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "trex-20210802_pre.xml"
     ]
    },
    "referenceLink": {
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-ref-2020-01-31.xml"
     ]
    },
    "schema": {
     "local": [
      "trex-20210802.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd"
     ]
    }
   },
   "elementCount": 24,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2020-01-31": 3,
    "total": 3
   },
   "keyCustom": 0,
   "keyStandard": 96,
   "memberCustom": 0,
   "memberStandard": 0,
   "nsprefix": "trex",
   "nsuri": "http://trex.com/20210802",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "d220526d8ka.htm",
      "contextRef": "duration_2021-08-02_to_2021-08-02",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "100000 - Document - Document and Entity Information",
     "role": "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation",
     "shortName": "Document and Entity Information",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "d220526d8ka.htm",
      "contextRef": "duration_2021-08-02_to_2021-08-02",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 0,
   "tag": {
    "dei_AmendmentDescription": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Description of changes contained within amended document.",
        "label": "Amendment Description",
        "terseLabel": "Amendment Description"
       }
      }
     },
     "localname": "AmendmentDescription",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag",
        "terseLabel": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code",
        "terseLabel": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page.",
        "label": "Cover [Abstract]",
        "terseLabel": "Cover [Abstract]"
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.",
        "label": "Document Period End Date",
        "terseLabel": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type",
        "terseLabel": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One",
        "terseLabel": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town",
        "terseLabel": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code",
        "terseLabel": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province",
        "terseLabel": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key",
        "terseLabel": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company",
        "terseLabel": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number",
        "terseLabel": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation State Country Code",
        "terseLabel": "Entity Incorporation State Country Code"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name",
        "terseLabel": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number",
        "terseLabel": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number",
        "terseLabel": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r2"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",
        "label": "Pre Commencement Issuer Tender Offer",
        "terseLabel": "Pre Commencement Issuer Tender Offer"
       }
      }
     },
     "localname": "PreCommencementIssuerTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.",
        "label": "Pre Commencement Tender Offer",
        "terseLabel": "Pre Commencement Tender Offer"
       }
      }
     },
     "localname": "PreCommencementTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r0"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Security 12b Title",
        "terseLabel": "Security 12b Title"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r1"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name",
        "terseLabel": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r4"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",
        "label": "Soliciting Material",
        "terseLabel": "Soliciting Material"
       }
      }
     },
     "localname": "SolicitingMaterial",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol",
        "terseLabel": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r6"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",
        "label": "Written Communications",
        "terseLabel": "Written Communications"
       }
      }
     },
     "localname": "WrittenCommunications",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://trex.com//20210802/taxonomy/role/DocumentDocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    }
   },
   "unitCount": 0
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r5": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r6": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>15
<FILENAME>0001193125-21-246988-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193125-21-246988-xbrl.zip
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M&7[G++X0WXM,)9J,=B*BWULT9=48-S(Q4 ?B?HMA<H%0$=W>L#&%611+C+Z
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MLA>U@\@J3K3$U'&*1"4'2]F27,NOK0FU3#!]*'TP@H&Q.+YL0O.'L5XBU;M
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MS _11SY_-"0_2J?,7#E+2=6K#=SZ'33]5&L0Z+Z<^7Y^V,8B;JZ+O,I5_!5
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MU)[TZ(\JPR?1^LC@5L[IEAGS9DCVUZ:?4;Q=ED*&$9FR+-@+?%,.90$EB.6
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M5.>8VL0J0R:#CL$V%&^!)B$DQ&$J6R[F(&J5Z#JXW%J*T0)>3)2L<AKNN$*
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M<!;YAA#]6C-)GDP#/2^58:!F35N <)[W$Q *M.7*!/9$Y0,Q=Q'PNPCXC8J
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MTE^%5Y0*VN8"+/=KR?T/VRL7P4%.;G6!>=-V>\1\F/=&=<EW4$L! A0#%
M  @ ND 04RDN?Q,C#P  YF    \              ( !     &0R,C U,C9D
M.&MA+FAT;5!+ 0(4 Q0    ( +I $%.JOSBT:D@  "QE 0 1
M  "  5 /  !D,C(P-3(V9&5X.3DR+FAT;5!+ 0(4 Q0    ( +I $%-\$_=-
M10,  &(+   1              "  >E7  !T<F5X+3(P,C$P.# R+GAS9%!+
M 0(4 Q0    ( +I $%/1.(9ED@8  !5'   5              "  5U;  !T
M<F5X+3(P,C$P.# R7VQA8BYX;6Q02P$"% ,4    " "Z0!!3N3? 3M$$  "P
M+   %0              @ $B8@  =')E>"TR,#(Q,#@P,E]P<F4N>&UL4$L%
3!@     %  4 00$  "9G      $!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
