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v3.22.4

SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting | The tables below are presented in thousands. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 3,650,639 | ​ | $ | 2,394,681 | ​ | $ | 3,143,868 | ​ | $ | 431,611 | ​ | $ | 5,940 | ​ | $ | 9,626,739
Intersegment net sales | ​ |  | 392,740 | ​ |  | 78,409 | ​ |  | 110,523 | ​ |  | 421,406 | ​ |  | (1,003,078) | ​ |  | —
Interest expense | ​ |  | 177 | ​ |  | (2) | ​ |  | — | ​ |  | (1,310) | ​ |  | 15,045 | ​ |  | 13,910
Amortization expense | ​ |  | 4,131 | ​ |  | 6,925 | ​ |  | 3,358 | ​ |  | 4,571 | ​ |  | 514 | ​ |  | 19,499
Depreciation expense | ​ |  | 19,898 | ​ |  | 28,191 | ​ |  | 15,364 | ​ |  | 2,992 | ​ |  | 27,618 | ​ |  | 94,063
Segment earnings before income taxes | ​ |  | 150,165 | ​ |  | 333,087 | ​ |  | 397,446 | ​ |  | 56,813 | ​ |  | (2,695) | ​ |  | 934,816
Segment assets | ​ |  | 889,417 | ​ | ​ | 885,878 | ​ | ​ | 712,837 | ​ | ​ | 308,688 | ​ | ​ | 875,253 | ​ |  | 3,672,073
Capital expenditures | ​ |  | 55,806 | ​ | ​ | 55,129 | ​ | ​ | 54,167 | ​ | ​ | 3,968 | ​ | ​ | 5,054 | ​ |  | 174,124
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 3,418,337 | ​ | $ | 2,148,142 | ​ | $ | 2,698,434 | ​ | $ | 362,473 | ​ | $ | 8,748 | ​ | $ | 8,636,134
Intersegment net sales | ​ |  | 214,400 | ​ |  | 85,954 | ​ |  | 82,026 | ​ |  | 455,874 | ​ |  | (838,254) | ​ |  | —
Interest expense | ​ |  | 98 | ​ |  | 12 | ​ |  | 1 | ​ |  | 184 | ​ |  | 13,519 | ​ |  | 13,814
Amortization expense | ​ |  | 2,780 | ​ |  | 6,093 | ​ |  | 3,525 | ​ |  | 1,336 | ​ |  | 214 | ​ |  | 13,948
Depreciation expense | ​ |  | 16,955 | ​ |  | 26,219 | ​ |  | 13,151 | ​ |  | 2,094 | ​ |  | 25,765 | ​ |  | 84,184
Segment earnings before income taxes | ​ |  | 124,790 | ​ |  | 264,958 | ​ |  | 264,238 | ​ |  | 80,905 | ​ |  | (8,555) | ​ |  | 726,336
Segment assets | ​ |  | 844,189 | ​ | ​ | 741,672 | ​ | ​ | 736,157 | ​ | ​ | 343,363 | ​ | ​ | 579,890 | ​ |  | 3,245,271
Capital expenditures | ​ |  | 40,408 | ​ | ​ | 42,652 | ​ | ​ | 22,344 | ​ | ​ | 5,140 | ​ | ​ | 40,622 | ​ |  | 151,166
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Retail |  | Packaging |  | Construction |  | Other |  | Corporate |  | Total
Net sales to outside customers | ​ | $ | 2,167,122 | ​ | $ | 1,072,117 | ​ | $ | 1,695,684 | ​ | $ | 217,094 | ​ | $ | 1,981 | ​ | $ | 5,153,998
Intersegment net sales | ​ |  | 142,839 | ​ |  | 45,217 | ​ |  | 68,294 | ​ |  | 283,689 | ​ |  | (540,039) | ​ |  | —
Interest expense | ​ |  | 2 | ​ |  | 22 | ​ |  | — | ​ |  | 90 | ​ |  | 9,197 | ​ |  | 9,311
Amortization expense | ​ |  | 1,482 | ​ |  | 4,159 | ​ |  | 2,152 | ​ |  | 877 | ​ |  | 46 | ​ |  | 8,716
Depreciation expense | ​ |  | 11,675 | ​ |  | 15,163 | ​ |  | 12,123 | ​ |  | 1,619 | ​ |  | 23,384 | ​ |  | 63,964
Segment earnings before income taxes | ​ |  | 155,364 | ​ |  | 83,430 | ​ |  | 69,092 | ​ |  | 38,333 | ​ |  | (5,236) | ​ |  | 340,983
Segment assets | ​ |  | 510,464 | ​ | ​ | 416,487 | ​ | ​ | 510,972 | ​ | ​ | 196,856 | ​ | ​ | 770,112 | ​ |  | 2,404,891
Capital expenditures | ​ |  | 16,277 | ​ | ​ | 21,141 | ​ | ​ | 16,902 | ​ | ​ | 2,258 | ​ | ​ | 32,604 | ​ |  | 89,182
Information Regarding Principal Geographic Areas | Information regarding principal geographic areas was as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | Long-Lived | ​ | ​ | ​ | ​ | Long-Lived | ​ | ​ | ​ | ​ | Long-Lived
​ | ​ | ​ | ​ | ​ | Tangible | ​ | ​ | ​ | ​ | Tangible | ​ | ​ | ​ | ​ | Tangible
​ |  | Net Sales |  | Assets |  | Net Sales |  | Assets |  | Net Sales |  | Assets
United States | ​ | $ | 9,254,676 | ​ | $ | 770,921 | ​ | $ | 8,395,737 | ​ | $ | 679,757 | ​ | $ | 5,022,014 | ​ | $ | 478,325
Foreign | ​ |  | 372,063 | ​ | ​ | 126,840 | ​ | ​ | 240,397 | ​ | ​ | 54,873 | ​ | ​ | 131,984 | ​ | ​ | 36,380
Total | ​ | $ | 9,626,739 | ​ | $ | 897,761 | ​ | $ | 8,636,134 | ​ | $ | 734,630 | ​ | $ | 5,153,998 | ​ | $ | 514,705
Gross Sales by Major Product Classification | ​ ​ ​ The following table presents, for the periods indicated, our disaggregated net sales (in thousands) by business unit for each segment.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Retail | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deckorators | ​ | $ | 326,011 | ​ | $ | 248,765 | ​ | $ | 219,930
Prowood and Outdoor Essentials | ​ |  | 2,228,509 | ​ |  | 2,239,711 | ​ |  | 1,828,489
Sunbelt | ​ | ​ | 924,441 | ​ | ​ | 773,909 | ​ | ​ | —
UFP Edge | ​ |  | 168,190 | ​ |  | 148,927 | ​ |  | 114,987
Other | ​ |  | 3,488 | ​ |  | 7,025 | ​ |  | 3,716
Total Retail | ​ | $ | 3,650,639 | ​ | $ | 3,418,337 | ​ | $ | 2,167,122
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Packaging | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North (1) | ​ | $ | 646,278 | ​ | $ | 615,092 | ​ | $ | 385,132
Southeast (1) | ​ | ​ | 445,203 | ​ | ​ | 395,069 | ​ | ​ | 229,316
Southwest (1) | ​ | ​ | 468,274 | ​ | ​ | 400,515 | ​ | ​ | 238,643
West (1) | ​ | ​ | 379,038 | ​ | ​ | 363,300 | ​ | ​ | 206,022
PalletOne | ​ | ​ | 399,356 | ​ | ​ | 355,347 | ​ | ​ | —
Protective Packaging | ​ | ​ | 56,532 | ​ | ​ | 18,819 | ​ | ​ | 13,004
Total Packaging | ​ | $ | 2,394,681 | ​ | $ | 2,148,142 | ​ | $ | 1,072,117
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Factory Built | ​ | $ | 1,181,837 | ​ | $ | 1,098,905 | ​ | $ | 597,017
Site Built | ​ |  | 1,361,607 | ​ |  | 1,190,393 | ​ |  | 725,899
Commercial | ​ | ​ | 336,298 | ​ | ​ | 259,360 | ​ | ​ | 221,988
Concrete Forming | ​ |  | 264,126 | ​ |  | 149,776 | ​ |  | 150,780
Total Construction | ​ | $ | 3,143,868 | ​ | $ | 2,698,434 | ​ | $ | 1,695,684
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
All Other | ​ | $ | 431,611 | ​ | $ | 362,473 | ​ | $ | 217,094
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | $ | 5,940 | ​ | $ | 8,748 | ​ | $ | 1,981
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Net Sales | ​ | $ | 9,626,739 | ​ | $ | 8,636,134 | ​ | $ | 5,153,998
(1) Effective January 1, 2023, the Packaging segment established new business units as followings: Structural Packaging, PalletOne, and Protective Packaging Solutions. This change will result in the transfer of net sales from the these geographic business units to Structural Packaging and PalletOne in 2023. The following table presents, for the periods indicated, our percentage of value-added and commodity-based sales to total net sales by segment.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 |  | 2021 |  | 2020
Value-Added | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retail | ​ | ​ | 44.9% | ​ | ​ | 43.2% | ​ | ​ | 53.8%
Packaging | ​ | ​ | 72.0% | ​ | ​ | 67.7% | ​ | ​ | 64.7%
Construction | ​ | ​ | 77.2% | ​ | ​ | 73.0% | ​ | ​ | 76.3%
All Other | ​ | ​ | 76.3% | ​ | ​ | 74.7% | ​ | ​ | 76.0%
Corporate | ​ | ​ | 44.3% | ​ | ​ | 67.9% | ​ | ​ | 100.0%
Total | ​ | ​ | 63.4% | ​ | ​ | 59.7% | ​ | ​ | 64.3%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity-Based | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retail | ​ | ​ | 55.1% | ​ | ​ | 56.8% | ​ | ​ | 46.2%
Packaging | ​ | ​ | 28.0% | ​ | ​ | 32.3% | ​ | ​ | 35.3%
Construction | ​ | ​ | 22.8% | ​ | ​ | 27.0% | ​ | ​ | 23.7%
All Other | ​ | ​ | 23.7% | ​ | ​ | 25.3% | ​ | ​ | 24.0%
Corporate | ​ | ​ | 55.7% | ​ | ​ | 32.1% | ​ | ​ | 0.0%
Total | ​ | ​ | 36.6% | ​ | ​ | 40.3% | ​ | ​ | 35.7%
​

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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