<SEC-DOCUMENT>0001193125-22-068793.txt : 20220308
<SEC-HEADER>0001193125-22-068793.hdr.sgml : 20220308
<ACCEPTANCE-DATETIME>20220308090902
ACCESSION NUMBER:		0001193125-22-068793
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20220228
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220308
DATE AS OF CHANGE:		20220308

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:		22720510

	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>d300427d8ka.htm
<DESCRIPTION>8-K/A
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8" ?>
<html xmlns:dei="http://xbrl.sec.gov/dei/2021" xmlns:us-types="http://fasb.org/us-types/2021-01-31" 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/20220228" 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_2022-02-28_to_2022-02-28">TREX CO INC</ix:nonNumeric> <ix:nonNumeric name="dei:AmendmentFlag" contextRef="duration_2022-02-28_to_2022-02-28">true</ix:nonNumeric> <ix:nonNumeric id="Hidden_dei_EntityCentralIndexKey" name="dei:EntityCentralIndexKey" contextRef="duration_2022-02-28_to_2022-02-28">0001069878</ix:nonNumeric> </ix:hidden> <ix:references> <link:schemaRef xlink:type="simple" xlink:href="trex-20220228.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_2022-02-28_to_2022-02-28"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0001069878</xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:startDate>2022-02-28</xbrli:startDate> <xbrli:endDate>2022-02-28</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:8pt;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:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">FORM <span style="white-space:nowrap"><ix:nonNumeric name="dei:DocumentType" contextRef="duration_2022-02-28_to_2022-02-28">8-K/A</ix:nonNumeric></span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Amendment No.&#160;1)</p> <p style="font-size:8pt;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:8pt; 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:8pt; 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_2022-02-28_to_2022-02-28" format="ixt:datemonthdayyearen">February&#160;28, 2022</ix:nonNumeric></p> <p style="font-size:8pt;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:8pt; 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:8pt;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:8pt;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:10pt">
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" contextRef="duration_2022-02-28_to_2022-02-28" 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"><span style="white-space:nowrap"><ix:nonNumeric name="dei:EntityFileNumber" contextRef="duration_2022-02-28_to_2022-02-28">001-14649</ix:nonNumeric></span></span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"><span style="font-weight:bold"><span style="white-space:nowrap"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" contextRef="duration_2022-02-28_to_2022-02-28">54-1910453</ix:nonNumeric></span></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"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(State or Other Jurisdiction</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">of Incorporation)</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(Commission</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">File Number)</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style=" text-align: center;margin:auto; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">(IRS Employer</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Identification No.)</p></td></tr></table> <p style="font-size:8pt;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_2022-02-28_to_2022-02-28">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_2022-02-28_to_2022-02-28">Winchester</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" contextRef="duration_2022-02-28_to_2022-02-28" 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_2022-02-28_to_2022-02-28">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:8pt; 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_2022-02-28_to_2022-02-28">(540)</ix:nonNumeric> <span style="white-space:nowrap"><ix:nonNumeric name="dei:LocalPhoneNumber" contextRef="duration_2022-02-28_to_2022-02-28">542-6300</ix:nonNumeric></span></p> <p style="margin-top:8pt; 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:8pt;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:8pt; 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:8pt;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:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">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:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Name of each exchange</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">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_2022-02-28_to_2022-02-28">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_2022-02-28_to_2022-02-28">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_2022-02-28_to_2022-02-28" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></span></td></tr></table> <p style="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <span style="white-space:nowrap">8-K</span> 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_2022-02-28_to_2022-02-28" 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_2022-02-28_to_2022-02-28" 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 <span style="white-space:nowrap">14a-12</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14a-12)</span></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_2022-02-28_to_2022-02-28" 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"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">14d-2(b)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14d-2(b))</span></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_2022-02-28_to_2022-02-28" 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"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">13e-4(c)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.13e-4(c))</span></p></td></tr></table> <p style="margin-top:8pt; 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 <span style="white-space:nowrap">12b-2</span> of the Securities Exchange Act of 1934 <span style="white-space:nowrap">(&#167;240.12b-2</span> of this chapter).</p> <p style="margin-top:8pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Emerging growth company&#160;&#160;<ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="duration_2022-02-28_to_2022-02-28" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p> <p style="margin-top:8pt; 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&#160;13(a) of the Exchange Act&#160;&#160;&#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_2022-02-28_to_2022-02-28">This Amendment No.&#160;1 to Trex Company, Inc.&#8217;s Current Report on Form <span style="white-space:nowrap">8-K</span> is furnished to include a transcript of the earnings conference call held on February&#160;28, 2022.</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 February&#160;28, 2022, Trex Company, Inc. (Company) issued a press release announcing its financial results for the year ended December&#160;31, 2021, as previously furnished. Also, on February&#160;28, 2022, 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. </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" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit</p> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Number</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">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="d300427dex992.htm">Transcript of the Trex Company, Inc. conference call held on February&#160;28, 2022, to discuss financial and operating results for the year ended December&#160;31, 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">


<tr>

<td style="width:47%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:4%"></td>

<td style="vertical-align:bottom"></td>
<td></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:46%"></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"></td>
<td style="vertical-align:bottom">&#160;</td>
<td colspan="3" style="vertical-align:bottom;white-space:nowrap">TREX COMPANY, INC.</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></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:bottom">Date: March&#160;8, 2022</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"> <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"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap">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"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap">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>d300427dex992.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="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trex Company </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Fourth Quarter and Full Year 2021
Earnings </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Conference Call </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Monday,
February&nbsp;28, 2022, 5:00 PM Eastern </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CORPORATE PARTICIPANTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bryan Fairbanks</B>&#151;<I>President, Chief Executive Officer</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dennis Schemm</B>&#151;<I>Senior Vice President</I><I></I><I>&nbsp;&amp; Chief Financial Officer</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amy Fernandez</B>&#151;<I>Vice President, General Counsel</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Viktoriia Nakhla</B>&#151;<I>Investor Relations</I> </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"><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
Fourth Quarter and Full Year 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, 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 Amy Fernandez, Vice President and General Counsel, as well as other
members of Trex management. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company issued a press release today after market close containing financial results for the fourth quarter and full year
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 Amy Fernandez. Amy. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amy Fernandez </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 Laws. 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. 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-Q,</FONT> as well as our 1933 and other 1934 Act filings with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 measure 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, Amy and good evening,
everyone. Thank you for joining us today to review our fourth quarter and full year 2021 performance along with our business outlook. First, I would like to thank our extraordinary employees who continue to deliver great results through talent, hard
work, and innovation, along with our channel partners, distributors, and professional contractors who are the best in the business and are poised to execute growth in the composite decking and railing market. </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="center">1 </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">We closed 2021 with all time record sales of $1.2&nbsp;billion for the full year, and a record finish to an
exceptional year, with fourth quarter sales increasing 33% to $304&nbsp;million and adjusted earnings per share growing 49% to $0.55 per share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our
expanded manufacturing capacity enables us to effectively support strong organic growth, while also allowing our channel partners to infill inventory. Strong revenue growth and replenished market inventories point to reduced product lead times and
more normalized seasonality in 2022. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Consumer demand for our products remains robust supported by significant repair and remodel activity, especially
within the outdoor living category which shows strong momentum as the fastest growing category of repair and remodel and supported by our continued conversion of wood to composite market share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rising interest rates and higher home values favor repair and remodel spending as homeowners continue to invest in their existing residences and pursue
renovation that enhance their lifestyles and outdoor living spaces. Flexible outdoor living space is more essential than ever as consumers continue to reevaluate where and how they spend their time. So, while COVID-related restrictions are easing
and leisure travel and other activities are returning to <FONT STYLE="white-space:nowrap">pre-pandemic</FONT> levels, we expect demand to remain strong driven by favorable secular trends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The launch of our Trex Enhance products in January of 2019 was a significant catalyst that has accelerated our growth over the past few years. This product
was truly an industry game-changer, significantly expanding our addressable market by focusing on consumers, who would convert from wood to Trex at the right price. As a result, we&#146;ve continued to drive wood to composite market share
conversions at 200 basis points plus per year, a rate meaningfully greater than we&#146;ve experienced in the past. Even with this accelerated pace, we estimate composites account for approximately 25% of the total decking market but expect it will
reach 45% to 50% in the future. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To support current demand and expected long-term growth, we successfully executed the largest capacity expansion program
in Trex&#146;s history, which included construction of a new decking facility at our Virginia site and installation of additional production lines at our Nevada facility. Collectively, these expansion initiatives position us to effectively meet
customer demand in 2022 by increasing total capacity 85% above 2019 volume levels. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additionally, in October of 2021, we announced plans to develop a
third <FONT STYLE="white-space:nowrap">US-based</FONT> Trex residential manufacturing facility on approximately 300 acres in Little Rock Arkansas. Expected to commence operation in 2024, this $400&nbsp;million capacity expansion program offers
numerous strategic advantages including increased proximity to essential raw materials, a strong pool of qualified and skilled labor, adjacency to major transportation hubs and is situated near key growth markets for wood conversion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Similar to our previous capacity expansion programs, this development will be modular in nature and calibrated to demand trends. When this plant opens, Trex
will have a strategic advantage of unmatched geographical coverage with East Coast, West Coast and Central Region sites that will serve as our domestic pro channel and retail partners, and also support our long-term growth opportunities in the
international and cladding markets. </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="center">2 </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">Composites have lower market penetration outside of North America, and we believe our international growth
can exceed our domestic market expansion pace on a long-term basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are pleased to meet with many of you at the recent International Builders&#146;
Show held in Orlando, where we were impressed with the high attendance numbers and interest in learning more about all of the ways Trex can be part of their outdoor living plans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We also had record attendance at our TrexPro Summit held in San Antonio with participants from around the world. TrexPros are an elite group of contractors
dedicated to the installation of Trex decking and railing products, for whom Trex provides valuable benefits such as increased consumer exposure, customer leads, a profile on trex.com to showcase their work and extended warranty programs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We launched a new marketing campaign for 2022 that highlights how Trex helps homeowners transform their outdoor dream ideas into reality, becoming the
foundation for many of life&#146;s most memorable moments. Our &#147;We See It Too&#148; campaign launched January 1<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> with TV commercials on many popular channels. Integrated content extends to
social, digital and online video amplified by radio, print, retail, strategic partnerships and more. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For 30 years, Trex has invented, reinvented and
defined the composite decking and outdoor living category, and this new campaign boldly differentiates Trex with a distinctive and memorable message that creates a category of one. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As our business expands, we remain focused on growing in a sustainable and socially responsible manner and taking market share from wood, as our sales grow so
does Trex&#146;s positive impact on an environment by using recycled materials to manufacture the most aesthetically pleasing and long-lasting decking and railing products in the market. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To support our capacity expansion efforts and sales growth, we continue to grow our employee base with a focus on diversity, equity and inclusion and bringing
new ideas and perspectives to our team. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the safety and well-being of our employees is of utmost importance, and we consistently prioritize
safe practices and emphasize employee well-being. Reflective of this, we recently expanded ESG oversight at the executive level, naming Leslie Adkins, Vice President of Marketing and ESG Development. Long involved with steering the Trex brand, she
has also been a steward of our ESG efforts since inception. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With that, I&#146;ll turn the call over to Dennis to provide a more detailed view of our
financial performance. 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">Thank
you, Bryan, and good evening everyone. I&#146;m pleased to report on Trex&#146;s strong fourth quarter results and full year performance and provide expectations for the first quarter and full year of 2022. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are reporting fourth quarter top line growth of 33% to $304&nbsp;million led by 35% growth in net sales at Trex Residential to $288&nbsp;million. The
increase in sales reflects continued strong broad-based demand across all product lines in both the retail and <FONT STYLE="white-space:nowrap">pro-channels</FONT> and a favorable impact from pricing actions in Trex Residential. Trex Commercial net
sales increased 6% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-on-year</FONT></FONT> to $16&nbsp;million. </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="center">3 </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">Consolidated gross margin in the fourth quarter was 38.9% compared to 40.5% in the year ago quarter. Fourth
quarter 2021 gross margin for Trex Residential and Trex Commercial were 39.7% and 24.0%, compared to 41.3% and 28.0% in the fourth quarter of 2020. The year-over-year decrease in 2021 fourth quarter gross margins was primarily due to increased raw
material costs and higher transportation costs that more than offset increased efficiencies from higher capacity utilization and previous pricing actions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the 2021 fourth quarter, we recognized a $54&nbsp;million goodwill impairment charge at Trex Commercial that was primarily due to a reduction in project
commitments, which adversely impacted project backlog and forecasted net sales and EBITDA. The reduction in project commitments was influenced by a delay in new projects due to lingering uncertainty created in our commercial markets by the <FONT
STYLE="white-space:nowrap">COVID-19</FONT> virus. The delay in new projects coupled with the company&#146;s continued successful fulfillment for <FONT STYLE="white-space:nowrap">pre-pandemic</FONT> projects resulted in lower project backlog and
reduced forecasted net sales and EBITDA. The company expects revenues from Trex Commercial to be constrained in 2022 but increased bookings are expected to lead to a resumption of revenue growth in 2023. In addition, the company recognized a gain
from insurance proceeds of $3.2&nbsp;million during the fourth quarter of 2021, primarily related to the fire at the Trex Residential Virginia plant that occurred in March. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Excluding the goodwill impairment charge and the gain on insurance proceeds, selling, general and administrative expenses increased to $37&nbsp;million,
compared to $34&nbsp;million in the fourth quarter of 2020 as business travel and marketing related expenses began to return to more normalized levels. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">However, we continue to benefit from the operating leverage gained from our rapid sales increase with SG&amp;A as a percentage of sales, decreasing 290 basis
points to 12.1% in the fourth quarter compared to the prior year quarter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Net income for the 2021 fourth quarter was $25&nbsp;million or $0.22 per
diluted share. Excluding the <FONT STYLE="white-space:nowrap">non-cash</FONT> goodwill impairment charge and the gain on insurance proceeds, adjusted net income was $64&nbsp;million or $0.55 per diluted share, representing increases of 47% and 49%,
respectively, from net income of $43&nbsp;million or $0.37 per diluted share in the 2020 fourth quarter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EBITDA excluding the goodwill impairment charge
and the gain on insurance proceeds was $92&nbsp;million, a 44% increase compared to EBITDA of $64&nbsp;million reported in the year ago quarter. Fourth quarter 2021 adjusted EBITDA margin was 30.2% compared to 27.9% in the fourth quarter of 2020.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Summarizing the full year performance, consolidated net sales increased 36% to $1.2&nbsp;billion with Trex Residential net sales growing 38% to
$1.14&nbsp;billion and Trex Commercial contributing $58&nbsp;million to net sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Full year 2021 net income was $209&nbsp;million or $1.80 per diluted
share. Excluding the goodwill impairment charge and the gain on insurance proceeds of $8.7&nbsp;million, adjusted net income was $243&nbsp;million or $2.10 per diluted share, representing increases of 35% and 36%, respectively, from adjusted net
income of $180&nbsp;million or $1.55 per diluted share in 2020 net of the $6.5&nbsp;million surface flaking warranty charge. Net of these items that I just mentioned, full year 2021, adjusted EBITDA increased 38% to $357&nbsp;million. Full year
2021, adjusted EBITDA margin was 29.8%. </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" ALIGN="center">4 </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">We generated record cash from operations of $258&nbsp;million in 2021, an increase of 38% from 2020. The
strength of our cash flow enabled us to self finance the recent capacity expansion program, while returning capital to shareholders through stock repurchases. Full year capital expenditures were $159&nbsp;million and were primarily related to our
capacity expansion program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We repurchased approximately 809,000 shares of outstanding common stock in 2021 at an average price of $91 per share totaling
$74&nbsp;million. As of December&nbsp;31, 2021, we have repurchased 3.6&nbsp;million shares under our stock repurchase program and have 8&nbsp;million shares remaining to be repurchased under the current program. Also, since the end of the fourth
quarter, we have been active in purchasing shares under the same program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Looking ahead, we see a strong 2022 with double-digit top line growth inclusive
of the onetime channel infill in 2021. We are also providing the following metrics for the first quarter and full year of 2022. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&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="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">First quarter consolidated net sales are expected 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 32% at the midpoint. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&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="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">For the full year 2022, we expect revenues to return to double-digit growth rates with a normalized seasonal
cadence similar to <FONT STYLE="white-space:nowrap">pre-pandemic</FONT> patterns we experienced in 2016 to 2018. In addition, we anticipate pricing realization will more than offset a more modest raw material and labor inflationary environment.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&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="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">SG&amp;A, is expected to be in the range of 12% to 13% of sales for the full year which includes the higher
investment in marketing and branding spend now that we have ramped up our new capacity and market inventories have improved. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&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="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">For the full year 2022, we anticipate, incremental EBITDA margin to be between 30% to 35% when compared to the
adjusted EBITDA figures discussed earlier. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&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="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Our tax rate is anticipated at approximately 25%. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&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="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Depreciation will range from $40&nbsp;million to $45&nbsp;million. And we expect full year spending on CAPEX to
be in the range of $200&nbsp;million to $220&nbsp;million, inclusive of the Little Rock capacity expansion, the new corporate headquarters and additional investments back into our core business. </P></TD></TR></TABLE>
<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. </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 strategic actions in 2021 and continued robust demand put us firmly on track to deliver strong double-digit growth in 2022. And
we remain focused on converting consumers to the performance advantages of composites over wood. Supported by our industry leading brand and recent capacity expansion program, we remain well positioned as the prime beneficiary of long-term trends
towards outdoor living. Operator, we can now take questions. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>QUESTIONS 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">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 telephone keypad. 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; Please limit your questions to one with a single <FONT STYLE="white-space:nowrap">follow-up.</FONT> </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="center">5 </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">Our first question comes 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>Keith Hughes </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. Question is about the
incremental EBITDA margin guide for the year. Can you talk about how you think that will pace during the year? And you did above that in the second half of 2021. If you could talk about what the puts and takes are that are bringing it down
year-over-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">Hey Keith, this is
Dennis. Thanks for the questions. Good questions. So, I&#146;m expecting to see EBITDA margins improve sequentially <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">quarter-to-quarter,</FONT></FONT> as we move through the year. And
we should see our highest EBITDA margins in that Q3, Q4 time frame. Some of the puts and takes that we&#146;re looking at clearly are, pricing coming into full utilization here in the first quarter. That&#146;s primarily the biggest impact.
Secondarily, we&#146;re still dealing with inflation. And although, we anticipate it moderating somewhat, we are seeing some headwinds right now with regards to higher transportation expenses. We&#146;re seeing some higher fuel costs on the natural
gas side and oil. And we&#146;re also seeing some delayed lead times on our capital spending, which is resulting in some of our cost outs being pushed out a little further along. So that&#146;s some of the puts and takes that we&#146;re dealing with
here in 2022. </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">If I could sneak one
more in, on the gross margin, will it also ramp up very similar to EBITDA? And do you think you&#146;ll be above water year-over-year above gross margins in the first half of 2022? </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">We&#146;re going to continue to put a lot
of focus and attention on our gross margins. That&#146;s always been the way at Trex. This year is not going to be any different. I would expect the gross margins to follow a similar cadence to the EBITDA margins as well. So, again, pricing coming
more into play here by the end of the first quarter, inflation moderating somewhat. And then, we talked about some of those headwinds that we&#146;re dealing with. </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>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The next question is 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">Hey,
guys. A couple of questions for me. So, first off, can you just unpack sales outlook for 2022 a little bit? How much will price contribute? And then, just talk about what is more normalized seasonality, just so we&#146;re all on the same page? </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, when I think about more
normalized seasonality, I&#146;m really looking probably at the first quarter to be around like 26% of our sales. Then you move into the second and third quarters &#151; about 50% of the sales, and fourth quarter would be the remainder. That&#146;s
what I&#146;d look to as far as more normalized seasonality. When I think about growth here in 2022, I guess, I would look at it as follows. So, pricing will play a role. We&#146;re probably in the low teens for pricing. And we&#146;ve got repair
and remodel that we talked about extensively in Bryan&#146;s remarks that we feel is </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="center">6 </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">
going to be strong. And in the past we&#146;ve doubled up on that repair and remodel metric. And so, you take those two that gets you to the upper end of the growth range there. And then you have
to back out the <FONT STYLE="white-space:nowrap">one-time</FONT> inventory infill that we had in the back half of 2021. So that&#146;s kind of how I see the puts and takes for growth and how we get to the strong double-digit growth that we
suggested. </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">Got it. That&#146;s helpful.
Okay. And then, for my <FONT STYLE="white-space:nowrap">follow-up,</FONT> like low teens price capture in 2022 is a little higher than I was thinking. How is that going to flow through the year? Is it going to start higher and then sort of kind of
bleed down as you lap price increases from last 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 think, that&#146;s the right way to expect it will be coming through. We took more of the pricing last year later in the year. So, we&#146;ll have that
full recapture as we move through the year. And we&#146;ll see what inflation does as we move through 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">Got it. Alright. Thanks. I&#146;ll pass it on. </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">The next question is 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, everybody. Thank you guys for the
question and congratulations on a nice year. Curious, kind of high level, I&#146;d love to hear you from the TrexPro Day, talking with the contractors, what are they telling you about their backlogs, about their order book? Obviously, the guidance
seems very positive on the year. But just curious, if you could dig down into that a little bit more. </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. Yes, our contractors feel very positive about how the year is shaping up for them. Now these are some of our largest most skilled contractors. You&#146;d
expect them to have longer backlogs. When we go down the ranks to talk to other contractors that may not be quite as large, we hear great optimism from them as well. Backlogs are anywhere from three months out to six months. So, they&#146;ve not
seen a material shift in the marketplace and the interest for outdoor living. </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. And then you&#146;ve all also been working on improving the recycled content on the front end. I was wondering kind of how much progress you were able
to make on that? Any updates would be great. </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, the Trex Company has always prided ourselves on using approximately 95% recycled content in our products. Where we don&#146;t use it as great of a degree,
for example some of our aluminum and some of our railing products, we do strive to increase the recyclability content within that product. But from a decking perspective, which is the largest share of revenues for the company, we&#146;ve continued
to drive recycled material use and we continue to look for new opportunities to take more waste out of the waste stream and allow us to use it in decking. </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="center">7 </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"><B>Stanley Elliott </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thanks, guys. Appreciate it and best of 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. </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 next question is from John Lovallo with UBS. Please go ahead. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>John Lovallo </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hey guys. Thank you for taking my questions
as well. First one, the <FONT STYLE="white-space:nowrap">step-up</FONT> in CAPEX to $200&nbsp;million to $220&nbsp;million versus I think $160&nbsp;million in 2021. I was under the impression that CAPEX would actually be down this year. Can you
maybe just talk about some of the puts and takes that may have changed that? </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">Hey John, that&#146;s a fair question. And I know we talked about that earlier that we expected to have a downsizing if you will in the CAPEX spend. But that
was before the Little Rock announcement, right. And so, Little Rock is really the primary driver of that number going higher. So essentially, you&#146;ve got Little Rock in there. We also have our new corporate headquarters being built as well. So
that&#146;s going to be some additional CAPEX spend. And then the remainder is investments back into the core. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>John Lovallo </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Got you. Okay, and then in terms of my <FONT STYLE="white-space:nowrap">follow-up.</FONT> Can you maybe just elaborate a little bit on the reduction in
commercial project commitments? I guess, I&#146;m curious on what type of projects were kind of delayed or canceled, I should say. And then are they going to wood or are there competitors in the composite space taking the business? </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, from a commercial perspective,
different segment from residential, primarily talking about railing and certain staging products. During 2021, our net sales were still quite strong. However, as the company continued to successfully work down that existing backlog, we also
experienced a reduction in new project commitments, because of lingering uncertainty around COVID. So for all of the tailwinds that the residential side of the business received, the commercial side mostly had headwinds. So COVID played a
significant impact on that part of the business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The core markets that we serve, sports, entertainment, commercial office, were all hit hard and
investments were sidelined until there was more certainty on what life post-COVID would look like. Remember at one point, it didn&#146;t look like many people were going back to the office, and, of course, we&#146;re now seeing people go back, and
we&#146;re seeing people go back to sporting events and other outdoor opportunities. So given that reduced backlog and reduction in new project commitments to replace and build the backlog, we knew that the outlook for 2022 was diminished. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As per our policies, we conducted an annual impairment test for goodwill. We assessed the project commitments, the reduction in our backlog because of COVID,
and our forecasted net sales and determined there was a negative impact on our financial condition. And as such, we </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="center">8 </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">
decided to take the $54&nbsp;million write-down based on that analysis. I think on the positive side here, we are starting to see that order book rebuilding, encouraged by the activity in the
first couple of months of the year, but it will take some time. And we&#146;re still encouraged with the opportunity on the commercial side of the business. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>John Lovallo </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>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The next question is 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 questions today and congrats on the strong 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">Thanks, Jeff. </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">And was there any negative impact from Omicron in January? And did you have any labor logistics or material headwinds from it that will impact the first
quarter? </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. Like everybody else,
we did see elevated absences in January from Omicron. We saw some in December as well that&#146;s probably a little bit heavier. The impact of that is inclusive of the guidance that we provided in the first quarter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Transportation, there were some, I guess, up days and down days, but we didn&#146;t struggle too much through January. One of the things we did run was more
over time in January to be able to offset those absences we had. </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, great. And then, can we just get an update on channel inventories right now? And how much of your first quarter sales guidance is related to inventory
channel fill? </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, recall, normally,
the first quarter is going to be building of inventory to support the busiest part of the season, and that&#146;s exactly what we are seeing. Coming into the end of the year, if you remember back to the third quarter, I talked about our dealer level
inventories improving significantly. And then through the end of the year, our distributor level inventory has improved significantly as well. Now we&#146;re back into a normal inventory build to support Q2 and Q3 in the marketplace. </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. 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">The next question is from Trey Grooms with
Stephens. 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">Hey, good
afternoon. </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="center">9 </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"><B>Bryan Fairbanks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, Trey. </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">Hey, 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">Hey. So first one, Dennis, I just want to make sure I got this right. On the kind of the quarterly cadence you outlined earlier, you mentioned, and I&#146;m
probably missing something here, but I think you said Q1 is going to be 26% of full year. And you know, just kind of backing into that, the midpoint of guidance range, if you gross that up, it just implies something like 5% so growth for the full
year. So, what am I missing there on that math? </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 the best way to look at it, when we talk about what historical looks like, it is going back from 2016 to 2018 timeframe and looking at those quarterly
averages, increases and decreases. And the reason that time is important, it takes the pandemic out of it, but it also takes the launch of Enhance out of it as well. </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">No, yes. I get all that. I&#146;m just
trying to reconcile the arithmetic behind the $325&nbsp;million is the kind of midpoint of the guidance for revenue for the first quarter. If that&#146;s 26%, then that implies something like 5% growth for the full 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. The 26% is not part of our
guidance. </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. Just making sure,
because I heard that, and I knew I was throwing off there somewhere with the math on that. Okay. Fair enough. Thanks for clearing that up. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And then
second question EBITDA margins, Dennis mentioned, you said that it should ramp in kind of the Q3, Q4 timeframe. And I think the long-term guide is for 35% to 45% incremental EBITDA margins. Is that still the right way to think about long-term
incrementals, and at what point do you think we kind of return to that sort of flow through? </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, Trey. So&#133;no, the guide for 2022 is 30% to 35% incremental EBITDA margins, just to be clear. </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">And as we go forward, the reason we
pulled that back a little bit this year from where we normally are is we&#146;re bringing our marketing, our travel entertainment, our show expenses back to a normalized level from where we were in prior years. I expect as we move forward,
you&#146;ll see that move back to the more normalized level of the 35% to 40% incremental. </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. That&#146;s what I was getting at. I was clear on this year. I just know long-term 35% to 40%, that&#146;s still a good target. 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: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="center">10 </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">The next question is from Ketan Mamtora with BMO Capital Markets. 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">Thank you for taking my question. Can you
talk a little bit about what you&#146;re seeing on the international side and on the cladding side? There&#146;s a couple of opportunities that you guys have talked about. And is there any way to size what the medium-term opportunity could be 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">Yes, international, we do continue
to see that coming back. We did have to deemphasize that for a couple of years. But through the fourth quarter of this year, we were able to rebuild inventories to get the season started right in these marketplaces. So, I&#146;m excited about the
growth opportunity. I&#146;ve said in the past that we see the international markets being able to outgrow our North America markets. So, I still hold to that. We will be in much better shape inventory wise this year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As it relates to the cladding marketplace, we&#146;ve now been able to show the customer that are interested in using our decking as cladding that the product
is available, normalized lead times, so that they can start quoting that. We really hadn&#146;t been quoting all of that much business over the past couple of years. So, we&#146;re back out selling again actively into that marketplace. </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 just as my <FONT
STYLE="white-space:nowrap">follow-up.</FONT> What is embedded within your guidance for sort of inflation for FY &#145;22? Thank you very much. </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">Our inflation expectations are baked within the guidance that we&#146;ve provided. As Dennis mentioned earlier, we have seen some inflation
into the New Year, but we do expect that to moderate as we go out through the rest of this year. </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">Got it. I&#146;ll turn it over. 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. </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 next question is from Reuben Garner with The Benchmark Co. 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 guys. Congrats on the strong close
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">Thanks, 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,
but I do want to follow up on one&#133;I wanted to see if there&#146;s any way you could kind of quantify opportunities that you guys had to walk away from over the last couple of years, whether it&#146;s internationally or in the U.S. just because
of your capacity situation, specifically talking about maybe some smaller players in the market that maybe were able to benefit because Trex, the industry leader, was sold out so often. Is 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="center">11 </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">
any numbers or way to quantify what might have been missed over the last two, three years as you guys were trying to catch up? </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, you&#146;re right. There are
things that we have had to walk away from as we&#146;ve managed through the capacity constraints over the past couple of years. I would say last year was a position where we started to more normalize in the marketplace. And with inventories being
built back to more normalized levels, we truly get back to a regular cadence for the year. We&#146;ve not tried to put a number to what those sales are. </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">And just a quick <FONT
STYLE="white-space:nowrap">follow-up.</FONT> Bryan, how much of the strength you saw in 2021 was you recapturing some of that business that was gone versus there was a lot of infill obviously at the end of last year in your own channels. Like are
you just now at the point where maybe you can go after some of that business that you could have had before, because you&#146;ve been still trying to fill 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">I did a lot of plant tours with our
sales team during the fourth quarter, showing both our existing customers who have been loyal to us throughout, as well as, other customers who may be carrying competing brands, the capacity we have and our ability to service them. </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. Thanks, and good luck this year
guys. </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. </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 next question is 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">Yes. Hey, guys. Thanks
for taking the question. I had one modeling question and then a bigger picture one. But on the modeling question, is there a way to quantify what the channel infill kind of <FONT STYLE="white-space:nowrap">load-in</FONT> comp is? I don&#146;t know
if you want to put a sales dollar number on it or some sort of lead time or weeks of inventory or just any more color you can kind of give us just so we can make sure we&#146;re on the same page with some comps? </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, Tim, it&#146;s a good question. So,
our estimates are pointing to about $100&nbsp;million in infill that happened in the back half of 2021. </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. That&#146;s helpful. And then, I guess, on a bigger picture question. Just as you think about Bryan getting to that 45% to 50% penetration of composite
relative to the market. Is there any kind of change in the cost of getting to that incremental penetration? Like for an incremental 5% of market penetration? Is that cost to retain that penetration changed at all either positively or negatively?
</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: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="center">12 </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">Well, there&#146;s an incremental change in the short-term here, because we need to get back to a normalized
cadence for marketing. We&#146;ve pulled back on that past few years. We will get back into normalized cadence for that. And we see that as important to be able to continue driving that wood conversion opportunity, getting our name in front of
people who are in the market for decking, whether it be wood or for competitive products and showing them why they should make the Trex decision. </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. So, 2022 is really more of a <FONT STYLE="white-space:nowrap">catch-up</FONT> now that you&#146;ve got capacity and you&#146;ve got the
channel and that infill position? </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. </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 on 2022 guys. Thanks for the time. </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. </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>Operator </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The next question is from Steven Ramsey with
Thompson Research Group. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Steven Ramsey </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, good evening. Starting off with drivers of sales growth for the year. How much of that is pure core wood conversion and how much of that is international
growth kicking in? new construction, cladding some of those other adjacent areas of opportunities? </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&#146;d love to say that there&#146;s enough data out there in the marketplace that I could break each of those down and be able to give you accurate
numbers. I think the right way to look at it is we&#146;ve always looked at our business using kind of the repair and remodel growth numbers as a baseline for the business. On top of that, wood conversion opportunity, growth in international
markets, as well as cladding along the way and that gets us to the double-digit sales increase for the year. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Steven Ramsey </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. Excellent. And then is there embedded with the channel infill that you&#146;ve done mix that points to continued increase on the enhanced line? I know
it&#146;s coming from a lower base but is there any read-through on penetration of that lower-priced product? </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">Through 2021, we continued to see strong growth across all of our product lines and in line with our expectations. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Steven Ramsey </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Excellent. Thank you. </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="center">13 </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"><B>Operator </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The next question is 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">Hey, guys. You have been constrained from a
capacity standpoint in the last few years. So, I&#146;m just curious looking in 2022, how much bandwidth you have from a capacity standpoint? So, if you could quantify that maybe capacity utilization would be helpful. And when we think about Little
Rock, as you ramp that up, Bryan appreciating i&#146;s modular in nature, is there a good way to think about how much capacity that would free up at least in the first phase of that ramp? </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, I think the best way to size the
capacity is what I said in my comments about the 85% over where we were from a 2019 perspective. And as we look out towards Little Rock coming on which would be 2024 time frame, Little Rock has the opportunity to be the largest facility across our
system. So, there&#146;s a significant amount of growth opportunity there. </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. Of that 85%, any color on how much of that is already consumed, Bryan? </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 not provided utilization.
</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. And then a quick one for Dennis. The
12% to 13% SG&amp;A as a percentage of sales for guidance for this year, is that a good way to think about it in 2023, or is this more of a <FONT STYLE="white-space:nowrap">catch-up</FONT> here? I just want to get a better sense. Is there an
opportunity for some SG&amp;A leverage going forward? </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">Right. We&#146;ve always talked about there being an opportunity longer term for SG&amp;A leverage, especially as Enhance becomes a bigger part of the
portfolio. So, I think Bryan said it well earlier on that 2022 really becomes a <FONT STYLE="white-space:nowrap">catch-up</FONT> year. And then from there we should start to see that leverage really start to accelerate more. </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. Alright. Appreciate it. </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 next question is from Alexander Leach with
Berenberg Capital Markets. Please go ahead. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Alexander Leach </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hi, guys. Thanks for taking my question. Sorry, if I missed this as my line drops off, but do you have an internal rate of inflation that you can provide for
us? And how is your internal rate inflation been trending through Q1 versus Q4? You&#146;ve mentioned some persistent headwinds, but CPI has been accelerating and it sounds as though inflation in your business isn&#146;t accelerating in anywhere
near the same level. </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. So,
we&#146;ve built our forecast and plans with a rate of inflation that our research tells us that the business is going to see. Now inflation as everybody on the call knows is very difficult to predict as to which commodities it&#146;s going to hit
and which ones it may alleviate over the course </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="center">14 </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">
of the year. But that inflation is inherent in the incremental EBITDA guidance that we&#146;ve provided but we&#146;re not going to provide a specific percentage that we&#146;ve assumed. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Alexander Leach </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sure. And then just as a <FONT
STYLE="white-space:nowrap">follow-up,</FONT> is there still scope for room in the business to increase prices, if the inflation persists through 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">Sure. There&#146;s going to be
opportunity. If we see inflation roll through the economy at a degree where we see that pricing won&#146;t need to be taken, it&#146;s something that we&#146;ll do as needed. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Alexander Leach </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okay. Great. Thanks, guys. </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 next question is 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">Great.
Thanks for taking my question. First, I just wanted to circle back to the <FONT STYLE="white-space:nowrap">top-line</FONT> outlook. And very helpful to give the $100&nbsp;million of infill from the back half of 2021. I also got to that similar math
from an earlier question about if you just do that 26% on the first quarter, it implies like a 4% actually full year growth. So, I&#146;m just trying to get a sense, you obviously are saying double-digits for the year. With that $100&nbsp;million
headwind though in the back half of 2021, are we talking about maybe flat sales in the back half of the year, or how should we think about comping that comp in 3Q and 4Q of this 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 would go back to my clarification
comments and use the 2016 through 2018 seasonality as a guideline for the revenue calendarization. </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">Bryan, if you use that 26% and that gets you to the 4% for the full year, that&#146;s the challenge. </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, again, we&#146;ve provided
guidance of a double-digit revenue improvement during the course of the year. </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">Right. Okay. Well, maybe switching gears then to the margin guidance on the 30% to 35% EBITDA, I think the math kind of works out that you&#146;re looking for
full year results and full year margin improvement on an operating margin EBITDA basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Just trying to get a sense when would you expect the
year-over-year return positive during the year? I mean a lot of companies have obviously been kind of saying not the first quarter obviously maybe getting close to parity on the second and positive in the back half. Is that how should how we should
think about it for you as well? </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 we&#146;re going to see higher inflection in the back half of the year. I think I spoke earlier just about we would see that steady cadence of pickup here. Second quarter will be stronger than </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="center">15 </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">
the first quarter. Third quarter will be stronger than the second quarter. But that year-over-year improvement really comes more in that Q3 Q4 time frame. </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">Right. Okay. Maybe just one last quick
one, if I could. You were also kind enough to give expectations for pricing for the year on low teens. Any way we should think about volume contribution in 2022 versus 2021? </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">Well, we talked a little bit about just
strong double-digits was the guide that we gave, right? And so I gave you the pricing in the low teens. We talked about our growth being able to <FONT STYLE="white-space:nowrap">double-up</FONT> on the repair and remodel index and then backing out
the infill from the prior year. Kind of gives you a good feel for how we&#146;re looking at growth. </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">So, when you say strong double digits, I mean that could be a wide range. Any way to narrow that down a little? </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. Our guidance is strong double-digits.
And I think I&#146;ve just given you the pieces to it there. </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. Thanks for very much. </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">Okay. </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 next question is 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">Good evening. Thank you for taking the
questions. Can I just <FONT STYLE="white-space:nowrap">follow-up</FONT> with one more on that revenue outlook? I think Dennis you just mentioned backing out the onetime channel infill which you said is $100&nbsp;million. Are you talking about the
strong double-digit growth is off of kind of last year&#146;s growth burden for the $100&nbsp;million, or how are we kind of layering that on? 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">It&#146;s year-over-year. We thought it
was important to understand there was that inventory infill that we wouldn&#146;t normally see because inventories were depleted to a much larger level than they had been historically. </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. Understood. And then just high
level on the back to the international opportunity because you keep highlighting this as a big opportunity over the years, just curious if you can get any more specific on that. Where are the markets where you see that opportunity? And how do you
kind of go to market from a channel perspective there? 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. We tend to focus on the markets that generally have higher levels of GDP, increased family incomes and interest in outdoor living. So you&#146;re looking
at primarily Europe, up in the </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="center">16 </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">
Scandinavia out into the Australian markets. But we also service many smaller markets down into Central, South America and the Caribbean as well. But when we talked about the larger markets with
the higher GDP, that&#146;s going to be the primary focus where we will sell through similar channels to what we do here in North America. </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. Thank you, 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. </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 next question is from Kurt Yinger with DA 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, everyone.
Just wanted to go back to the high-level decking conversion here in 2022, it sounds like you&#146;re looking for two points or better again. I guess first, what part of that dynamic over the last few years do you think has gotten sustainably
stronger<B>? </B>And second, as you think about the levers that you have at your disposal, which drives conversion, are there any areas where you think you can still push a lot harder than you have been? </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, I&#146;ll answer your second one
first here. I think from a marketing perspective because we haven&#146;t pushed as hard over the past couple of years. I think one of the things that will sustain, as we move forward is the higher level of education of the consumer. Through the
pandemic, they were spending time at home, they were looking for products that would make it more comfortable and easier to maintain their home. More people have Trex composite decks today. There&#146;s more word of mouth. There&#146;s more media
about composite today and the simplicity against wood. That is something that will continue to assist with the conversion. </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&#146;s helpful. And then, I guess, just a <FONT STYLE="white-space:nowrap">follow-up</FONT> on the commercial side. Given where your
backlogs are, is there any way to kind of size the magnitude of the decline there that you&#146;re expecting in 2022? </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&#146;d expect 2022 to be down about 10% on a year-over-year basis. </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">Okay. Alright. That&#146;s helpful.
Appreciate all the color and good luck to you, guys. </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 next question is from Alex Rygiel with B. Riley. 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. Nice quarter, gentlemen. Can you
address the variables that may have the biggest impact on your incremental margin either coming in at the high end or the low end? </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: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="center">17 </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">Yes. When I think about that, clearly, pricing plays a role in this followed secondarily by cost-outs and
continuing to drive those efficiencies that we&#146;ve talked about. I think on the negative side, clearly, inflation, watching some of those headwinds that we&#146;ve talked about, that&#146;s a key concern for us. On the transportation side,
natural gas, those are a couple of the big ones that we&#146;ll be continuing to watch. But also, I think in there too, Bryan talked a little bit about the marketing spend that we had as well or that we&#146;re driving here in 2021. So that&#146;s
another variable impacting those incremental margins. </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">And then as it relates to that range of 30% to 35%, is that what you would call sort of a 2022 target, or is that sort of more of a longer-term target range
for incremental margin? </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">Right. So, I
would look at that 30% to 35% as a 2022 guide. And we talked about over time, that we should see those incremental margins improve to that 35% to 40%. Why? So we&#146;re going to get more SG&amp;A leverage over time because Enhance will become a
bigger part of the overall portfolio requiring a lot less branding spend. In addition, we&#146;re going to continue to drive cost-outs throughout our plant manufacturing network and that&#146;s going to continue to help us with the margin
improvement. </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 very much. </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">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">This concludes our <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">question-and-answer</FONT></FONT> session. I would 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">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. 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. </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="center">18 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>trex-20220228.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:20220115.12 -->
<!-- Creation date: 3/8/2022 4:56:40 PM Eastern Time -->
<!-- Copyright (c) 2022 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/2021-01-31"
  xmlns:trex="http://trex.com/20220228"
  xmlns:dei="http://xbrl.sec.gov/dei/2021"
  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/20220228"
  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/2021/dei-2021.xsd" namespace="http://xbrl.sec.gov/dei/2021" />
    <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/2021/naics-2021.xsd" namespace="http://xbrl.sec.gov/naics/2021" />
    <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-20220228_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-20220228_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//20220228/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-20220228_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:20220115.12 -->
<!-- Creation date: 3/8/2022 4:56:40 PM Eastern Time -->
<!-- Copyright (c) 2022 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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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-20220228_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:20220115.12 -->
<!-- Creation date: 3/8/2022 4:56:40 PM Eastern Time -->
<!-- Copyright (c) 2022 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//20220228/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="trex-20220228.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://trex.com//20220228/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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/2021/dei-2021.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>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;">v3.22.0.1</span><table class="report" border="0" cellspacing="2" id="idm139976610204872">
<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>Feb. 28, 2022</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">Feb. 28,  2022<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">This Amendment No.&#160;1 to Trex Company, Inc.&#8217;s Current Report on Form 8-K is furnished to include a transcript of the earnings conference call held on February&#160;28, 2022.<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>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  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>XML
<SEQUENCE>7
<FILENAME>d300427d8ka_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/2021"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="trex-20220228.xsd" xlink:type="simple"/>
    <context id="duration_2022-02-28_to_2022-02-28">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001069878</identifier>
        </entity>
        <period>
            <startDate>2022-02-28</startDate>
            <endDate>2022-02-28</endDate>
        </period>
    </context>
    <dei:EntityRegistrantName
      contextRef="duration_2022-02-28_to_2022-02-28"
      id="Hidden_dei_EntityRegistrantName">TREX CO INC</dei:EntityRegistrantName>
    <dei:AmendmentFlag contextRef="duration_2022-02-28_to_2022-02-28">true</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey
      contextRef="duration_2022-02-28_to_2022-02-28"
      id="Hidden_dei_EntityCentralIndexKey">0001069878</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="duration_2022-02-28_to_2022-02-28">8-K/A</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="duration_2022-02-28_to_2022-02-28">2022-02-28</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode contextRef="duration_2022-02-28_to_2022-02-28">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="duration_2022-02-28_to_2022-02-28">001-14649</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="duration_2022-02-28_to_2022-02-28">54-1910453</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="duration_2022-02-28_to_2022-02-28">160 Exeter Drive</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="duration_2022-02-28_to_2022-02-28">Winchester</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="duration_2022-02-28_to_2022-02-28">VA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="duration_2022-02-28_to_2022-02-28">22603-8605</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="duration_2022-02-28_to_2022-02-28">(540)</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="duration_2022-02-28_to_2022-02-28">542-6300</dei:LocalPhoneNumber>
    <dei:Security12bTitle contextRef="duration_2022-02-28_to_2022-02-28">Common stock</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="duration_2022-02-28_to_2022-02-28">TREX</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="duration_2022-02-28_to_2022-02-28">NYSE</dei:SecurityExchangeName>
    <dei:WrittenCommunications contextRef="duration_2022-02-28_to_2022-02-28">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="duration_2022-02-28_to_2022-02-28">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="duration_2022-02-28_to_2022-02-28">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="duration_2022-02-28_to_2022-02-28">false</dei:PreCommencementIssuerTenderOffer>
    <dei:EntityEmergingGrowthCompany contextRef="duration_2022-02-28_to_2022-02-28">false</dei:EntityEmergingGrowthCompany>
    <dei:AmendmentDescription contextRef="duration_2022-02-28_to_2022-02-28">This Amendment No.&#160;1 to Trex Company, Inc.&#x2019;s Current Report on Form 8-K is furnished to include a transcript of the earnings conference call held on February&#160;28, 2022.</dei:AmendmentDescription>
</xbrl>
</XML>
</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" Q?/=,![Z^$T(>&.9J7_ZP,_P502P,$%     @ ($EH5)^@&_"Q @  X@P
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M$<+NOS^QO-9.&G_FB^$_7G\!4$L! A0#%     @ ($EH5 =!36*!    L0
M !               ( !     &1O8U!R;W!S+V%P<"YX;6Q02P$"% ,4
M"  @26A4Y$7KONX    K @  $0              @ &O    9&]C4')O<',O
M8V]R92YX;6Q02P$"% ,4    "  @26A4F5R<(Q &  "<)P  $P
M    @ ', 0  >&PO=&AE;64O=&AE;64Q+GAM;%!+ 0(4 Q0    ( "!):%0;
M*$-*I@0  &41   8              " @0T(  !X;"]W;W)K<VAE971S+W-H
M965T,2YX;6Q02P$"% ,4    "  @26A4GZ ;\+$"  #B#   #0
M    @ 'I#   >&PO<W1Y;&5S+GAM;%!+ 0(4 Q0    ( "!):%27BKL<P
M !,"   +              "  <4/  !?<F5L<R\N<F5L<U!+ 0(4 Q0    (
M "!):%0<.&7J/P$  #P"   /              "  :X0  !X;"]W;W)K8F]O
M:RYX;6Q02P$"% ,4    "  @26A4)!Z;HJT   #X 0  &@
M@ $:$@  >&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"% ,4    "  @
M26A499!YDAD!  #/ P  $P              @ '_$@  6T-O;G1E;G1?5'EP
=97-=+GAM;%!+!08     "0 ) #X"  !)%      !

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>3.22.0.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>118</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>0</UnitCount>
  <MyReports>
    <Report instance="d300427d8ka.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//20220228/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="d300427d8ka.htm">d300427d8ka.htm</File>
    <File>d300427dex992.htm</File>
    <File>trex-20220228.xsd</File>
    <File>trex-20220228_lab.xml</File>
    <File>trex-20220228_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="23">http://xbrl.sec.gov/dei/2021</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": {
  "d300427d8ka.htm": {
   "axisCustom": 0,
   "axisStandard": 0,
   "contextCount": 1,
   "dts": {
    "inline": {
     "local": [
      "d300427d8ka.htm"
     ]
    },
    "labelLink": {
     "local": [
      "trex-20220228_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "trex-20220228_pre.xml"
     ]
    },
    "schema": {
     "local": [
      "trex-20220228.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",
      "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://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://xbrl.sec.gov/dei/2021/dei-2021.xsd",
      "https://xbrl.sec.gov/naics/2021/naics-2021.xsd"
     ]
    }
   },
   "elementCount": 24,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2021": 3,
    "total": 3
   },
   "keyCustom": 0,
   "keyStandard": 118,
   "memberCustom": 0,
   "memberStandard": 0,
   "nsprefix": "trex",
   "nsuri": "http://trex.com/20220228",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "d300427d8ka.htm",
      "contextRef": "duration_2022-02-28_to_2022-02-28",
      "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//20220228/taxonomy/role/DocumentDocumentAndEntityInformation",
     "shortName": "Document and Entity Information",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "p",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "d300427d8ka.htm",
      "contextRef": "duration_2022-02-28_to_2022-02-28",
      "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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "xbrltype": "stringItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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/2021",
     "presentation": [
      "http://trex.com//20220228/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>0001193125-22-068793-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193125-22-068793-xbrl.zip
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M>HWDXJ52U,/]@Z\XLK%_<+^7!>"".L&@M\YG^AAVK*E ]G(O)185581*>B[
M#W5C@CQ$21AGJ:2V )0Y >>HX9,O%_#+!=QZ 2WH/@*.,=8Y9SXX*MJ'Q/O!
M(7OU!T=W?$C^,JM,M]2W\54J"%H+QP,'</(R2GX((%1M?.%(*)DR ?EB,[]I
MFK"!EVQ>"\1:?9B02>FPG_#74#-371@_[I=K\.4:_%8]%&3V2,().+\D>[OQ
M*KDQ9ZY=PZLZVN>;@BC@&D6FO=S3<-"/>DWS&7OTRALI'$E%;FF(+^?VR[G=
M>FY18M2F[X0Z X07_K!F'!?I4UE<=9SB]/&7\_3G/4]/X35.\L@<C7W/NUM<
MS[OW^M$T*7M0\ST(5,\!15]\<OSJV?_E5-<6,^/V89^7@1')/;]W% (\%NF*
M.2$N!S@%AL.&0U4O*[XQ"#"I+Z[\C(%()!@K#<.4I$I0\%MUH'7\F!OUQ^,(
MJO45I*<\4R,]W4E508_I%/[&+JE.K7[B)0==/4]# 'A+C%AXJA7HI@1RBDI?
MKEI$^:=YO2@V4BNKBV@$HT9QM<7I].QXQT"P;2V'4P(FB5\;9YB!4.+JA, C
MPL7&ONB>"TY0_C9.3OO$<9Y'"@"UG&'WQO/S,2D*/U\F?S:B&^[O82"9A=4A
MDUB0FL-0<"],&NC+@0*>IE<;29NB[5,$.43'A,WZ]-S%K3AV<$9_^<>S4[2-
M.4V.7Y"@?7'Z]MGKF]A"YJUV0,$R,Q_\QZ)*/Q@&L?W:HY-%_]>L73\,V @K
M[I;6*G]49Y5Q<J+$"B1_I7@SA5JA\U3SYT)_E7QR3I[BAG-=<Y2J@JE+J/([
M36AHX.:/;]A"YQ]<!)VAI)JQ]-62F$+Q$5 M23WLK99C6^C/-1]^[TL^_/>3
MT_I$DUXI $84Z_QWAQ/UXVHVM_#GFWJ5@PWODS3<Z4QGE[; ./G%5@>>$'.<
MM+YJ;:O7/ENA%-!B6#!3Q\F35 06??I<1P&[!/]JGM.C D,3<]!$@&P,\(@-
M8'PZRS,E>%/&>DFEHJL 4L#%U!#;7JY)CXKHP>NYIE/(1FFL/%X31#PH_F&E
MU. ?S*IU.1QT"V9N9FWICVXC)U\YP0 $-EN0CT2(34:V!O=8BWX&_:JO.Q67
M17/O2#EW#DMCL43Z$XW &#ZR%__[U)HZ(+0T>Y:C[ZE6;LZ1+.0H*;N]/Z]F
M>#;2H<W:B'#,E21&_QV4+O>7HU'RRUWA#I^2+<A4M OO2O7.FT9B9:%J,$!I
MAA[=D1"IVB0,B+.DAA*HL,?$'F!<\,2<1H;YC-.AO'%M:.]FX!5FT<]G3#XI
M13]C,F;X'O$'1O'4:&<+D'0RVD/$H<^-B'.:%NT<:]C/R.0MYU@4P-[0:JRY
M#GPML !:6/L]^XWK'$PI0IX*>XL?)8UT6-=OKR S?#_0!F'.\=#RM>G*63F:
MMFUB5CMDL68IZN(S03]6>6$NMQ].V-^B,;DPB L&/.UW51H;!,.*S#GW3)U6
MM*,\'HV>#7%_FY91.=IT:KEB_G&FE"++AWWP*3 G $3 5\#1XB/DZ[<__J3%
M&TFFG/.PQ_<3DG^NRHP4P8FJ@:8DTP86H]*SH[F3'H6XPG$DJBAO9=N1)D&2
M!%7U<9Y3Q( HIZR*M!G]R_,<G#E56&MFW>W57<J?NM65G6L<Z;3#1SNQ-7:N
M=:)+.ZM44\05,4NY!%7+H"-A1&%_'+QE4C-6&G5T6,:NX!,S5N!92LYFU91*
M*<W; :*AJ@W3X*Z7$='0V'=8T5!<_^2PE!+W@OT1.2N6(]< 14]]:)LH49PI
M8-=]H>]/*U8#]8A\9[6^,8:EQ9)_%&3T-ADL$@[^%DMC&$@N4Q,IR!*TZ@J"
M^7V"Y&8:PB_/TTW4V6<W+[G+Z,8;CM^^B[R@7%V@UPA!_NSJ<U*:HBG>(DJ<
M+I+'19K7Y@F->J[0-2N/>%:[L8A'9!VLT*#Q6,M^A4G8(A!,8*=-!^3^5=/I
MB -S4 B,]U^52T0_M9&,]&Q*/.^>5_!G>?LH^9$DQP+4A.(-,?+6%Z6X1]&M
MY:'[CHTU6-C>>$2_1#JM8]H4I@0%DYK.W U5-;^ZQMI#D"(X474MRX=E0U?@
M[>OF'1I@B\A^-FN=O)>S]*S8&$:OBUU5%2*DF-R4Z_"K.V;S:171&TR%HWG5
MA<KXR*=5 KPZ2WQ.17JAZZS!A*_27^LYI5*_6_O(*NO,4/8(3F<]UX#<'2Y0
MD1\S?C]I\9Q,4^[-\9YCI;3/W?748'YL7B*_,J.;TT2=RO"<E'G^\2C6G+I'
MI@/E(D#MI4E=%:YCYOOU5ZL)BK<E+2\74X?H6O,PN"KK:",5@-93Q= Q'6W(
M!(Z-<-/34S@W8W8%%K,^]YHQF3K'_6,_UWCB5U_BB;]3M)"6B*Q&R6[)N8N:
M:<1G4#)?@K[2 ,*6+C^"C9>!4(X@431T]V/;K%V+%YC,P'C!?Q3QL5JB3B.R
M#3V@LV3R2X>:0-,E_$5 NY!UDG2G!OH^'(HA9VH/[J_%57R/+2L%"(@SOQ3\
MA&ZTKN?-GN<R<T0)3SC^LL6OQ0V/&G?ALVM4.;6V"._),>JLAH-FQ4&0#W1[
M_TS-EQ\J2-:N*P0VW^FJ& \'8MP&@X)-F8^(OOGTB>]TRZHMB%ZU6M(E4WT:
M*P@"R&;J6" 'D-P3+DQDU<&R&A90KB+5WRFN'^L'ZAXE)PTTA_]4TX)C6P=/
M[70WE1!OZZ$:#N@T@$"M6I=0.CC\1;K468>24[:"03^JS]I]WG\GZ=1?':MC
M7O]1YQ*&1D9KZ5_:[<DC["_*ZLP;P^4^+30Z&PL6C5(][I<R*3@4$I7 JU'F
M?-2$<::8RW# L4Z0U\AI^E#<-AX%<D.L8N\),ZOMEC%V%OW:)@&N<WM-!!P7
MO)46R!]'5)RDF?@:?8 +] \]Y,/![OOXTCE_O2L$SR4?_CKW^&HG_K1-R\)M
MDF? =[7:3^&TS:>NN,J!OVZGKS^E'7GQ0HIZ5F5Q/">!9V\Y+91SZO(IM E,
M[JO"ZJ)!JUM"16A.<U6#7FX4;!7TC5 :X,B/NN"XWQQRCWM#&Z^/-5EXFJ)5
M%CD</K<BU%:^+\)(9)CV0=X PL%1-T9M6$:6S$;E_8(+&/VVJE%P"@ZN1\G+
M,V;$T]Y<G*D%2HJ,( >* HYO>Y;O*A;/CVD\#AU,[*WS.+U*II6H4W5?T[83
MU?@P,?WGK$!/N?\<JU%K.VK]J]D=["YKR'Y[_A>TDYJG2V:X6]II7(R3%_*A
M1G-E4;K(VL8Q/[;UL8H>3-.Q%$3&+7@U5LVM*K3?#$CU_)E1#W[-P ;>286/
MG@NL#E$F8&TX 16_H? VDGF N/D9\L+<3ZZ1*4IA--Y1^HE72W(5\F;A;\$B
M1+\?ZU2T4<A&^K3H!VL'?5VV\T8\$S+U\G?Z&S$><#6\;U4B6= ($[8O[&KF
M^=1#!J2V95FDD\!XXIN[2)?<+NQN!X?W*LEXK>8!]J7K"?I51& P<(JCI8E"
MC25I;P@-3_9O'2]4<M#6H?U%F8W5Q%]7"#OA:[%[Q\%.1D\"#@:9PCP+8(I@
M=W0!;U<]9(0_-W1),BE+M+#63%[BILH7.=V>JH@I#X7OG9-:9%]GTMJI<<6%
MY*$5R=<I57AP[\[EO5+Z3.NDP') VB-EE4:Y@.1U&J#3:SQESD[ZP8W0S04=
M<]"YI"NDTF)%SL%JH2TJPA\N-^WAQ\%=SR\Z7++1^4K/I(6A3=SWF4Y;&TC4
ME' !^7X14?.#*!'?1KTWA<PB\$X&D(OR2VYOVLJ'4[JV7FIWP2L6>A7X5*8/
M_ ,RWVT7QU+VW(GGM 93)TLZWTP*OP"SBM)=<,MS)5+1[:'5T)?^?/E]OOX2
M?_R\](<Y5IHB6VJIB\@+E* ZSH@EQ6IR?L.]RS^37_E3-2^3Y]4%Q) X+?]X
M?/J)P+&=N>P()2G'/?B1K#&TR](F9(>' V_>"DD) ^H_*JY.\GZYMUJ&L+HO
M\/K(8B[X'0TI",O*W3[XJO<!3](CYEF@)M*FB+GE)>3)8FZA?Q-G0,^<.0J*
MGO$P7Y"_;^C/_03UAR!J<"/8.9'6[9F:?)\,:7N=5PN'" >W&W%%CXT\U#>(
M77Z2G)>2VNBD)7G)M*+9)UEBM@%MM(M-:H2(4WWVM3(T81]D:QFJ*.:3!%UQ
M'K2VHU\%: VL ?X>)1I4M/14_$'&._)1L:HGU#JQQ53+,: Y2W--C>!+X)Z3
M0;ZI,X(5L5."U&WG*:5ELT)K2^V&^IZZ1$%9GJWRHHWQ5VC '7:CD]##V8TJ
M&3OKYKVG3GX="["]X%%LRQV%1+:*Q^N..#-6"OFE44C#8*=<O>!*O-^49O)5
M.E9&$(D7QU0MV-].P*FRO0C-"*3S@=*\;FE,\"@")QC80Z-=&$[*!C9+EF">
MA9]=5?-F#1)< ?%'-Z0 P>>)!Y''R;80S?.'C)N%TU?U+[6X'Z[-.<ZBUS6T
M3^2U,IW#254MGMT-=.<J1_@:]2XCK,2YBW<R\N] X:U(S:1Q,^FT@&_4@2(X
MIO*WJ*L(5'-+.?@K?2:04)S%KNHX>2JE*<)C*%+&*,;X, A67L)@A@+P7.]:
M 6I]"T+U+ ):OE,$S8S[QZIZA9A_ETL71(W7"8"^0)O&F"NIU_(C:ED1'W3N
MQIJNA,!S>W,-12QQ7PP6Q[!OHM[&Z"8504+EJ@469FM8'1]++IVE3<I\ZP;;
M0?XT(IG%AD$"'F_*3^8Y,/P'+S@<-.10Y=-\@GX*H1&EA %2WV"Y5TI^G<R*
M;U28^[XCIHNYU_PHX4(%6G3V%+&^HCBC!:C0VX9CI8K&FZ/I,KKW<0N/6(?(
M$<M11%TR>R6=-I46:\-HA6TTL87&NHA MWNRFA'T"IE[-$%<,$\G-X N\5EN
M.8OBISSS82#_A42ZW[H*(1^>DD@Q*Y1G8DA]*6Y1R+77B$]URDI@U6A)A8XU
M$_3)2%Y\?:F:H_LQOC76SPVQ&S4I)4IM =Q.F(6/U(R.H4?<2'N4N,W-Q]PA
M[:/GP\>P)#*/;;$;>HYO^QMR"?B)'<MR[ILQ=Q]PEOZHEK-+Y5)=5@7Z*376
M?P*OS/UZ8=^MT@XQ>&LQ<6,-%UNK::1QNEAW6\1,7P-+OUM=Z4@&\:$<"1(/
M'[FR5TWF8$!8+V$]\VAL/4M[C6EY&-\<$N^71\5*TOR;7_US#93=_Q(H^]U
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M'AU]6U:A/MH%N [-*^I!=?7>&3,;VXY\ 7:C13^!M%4TC90-TT*A8\4HMEC
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M8B(*>A9@A.<G!8\BS5FC0H:2\<_A)'$4H.E&7HSOPP-Y4I92O@ZLQXWB^XZ
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M::->/OV5?OGCFY^??_?_ 5!+ P04    "  @26A4'BA6#ST#   Z"P  $0
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M,MDMN45L(JZ6:7OFK;*'>>UN5ZCN^K+5^]ON].]YL]7,&?K\#5!+ P04
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MYV.B#'_GVO]\&#S%?BFIZA&BR&73?-V0/.,QC=>?R8R:0#R^]B-2ETR[;T>
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M   1              "  >-9  !T<F5X+3(P,C(P,C(X+GAS9%!+ 0(4 Q0
M   ( "!):%2;(*X6C@8  (5&   5              "  4]=  !T<F5X+3(P
M,C(P,C(X7VQA8BYX;6Q02P$"% ,4    "  @26A4BSH$5,P$   @+   %0
M            @ $09   =')E>"TR,#(R,#(R.%]P<F4N>&UL4$L%!@     %
-  4 00$   ]I      $!

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