Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Sales by product line [Table Text Block]

Segment sales to external customers, including related parties, by product line are as follows:



	Year Ended December 31
	2015		2014		2013
	(millions)
Wood Products
Plywood and veneer	$	385.5	$	413.6	$	367.8
Engineered wood products	127.2		125.9		104.4
Lumber	96.5		113.7		97.3
Byproducts	62.0		56.1		42.5
Particleboard	51.6		52.3		40.2
Other	19.5		25.7		21.7
	742.3		787.2		674.0

Building Materials Distribution
Commodity	1,343.4		1,376.1		1,333.2
General line	1,037.8		937.3		857.9
Engineered wood products	509.9		473.1		408.4
	2,891.1		2,786.5		2,599.5
	$	3,633.4	$	3,573.7	$	3,273.5

Segment information [Table Text Block]

An analysis of our operations by segment is as follows:



									Income
									(Loss)
									Before
	Sales								Income			Depreciation					Capital
			Inter-						Taxes			and		EBITDA			Expendi-
	Trade		segment			Total			(c)			Amortization		(b) (c)			tures		Assets
	(millions)
Year Ended December 31, 2015
Wood Products	$	742.3	$	539.8		$	1,282.1		$	64.2		$	43.3	$	107.5		$	68.8	$	556.0
Building Materials Distribution	2,891.1		0.2			2,891.3			60.8			11.9		72.7			14.5		506.3
Corporate and Other	—		—			—			(22.1		)	0.4		(21.7		)	4.3		186.3
Intersegment eliminations	—		(540.0		)	(540.0		)	—			—		—			—		—
	$	3,633.4	$	—		$	3,633.4		102.9			$	55.6	$	158.5		$	87.5	$	1,248.6
Interest expense									(22.5		)
Interest income									0.3
									$	80.7



									Income
									(Loss)
									Before
	Sales								Income			Depreciation					Capital
			Inter-						Taxes			and		EBITDA			Expendi-
	Trade		segment			Total			(c)			Amortization		(b) (c)			tures		Assets
	(millions)
Year Ended December 31, 2014
Wood Products	$	787.2	$	529.8		$	1,317.0		$	108.4		$	41.5	$	149.8		$	40.3	$	533.1
Building Materials Distribution	2,786.5		0.1			2,786.7			56.7			9.8		66.5			20.3		483.6
Corporate and Other	—		—			—			(19.9		)	0.2		(19.8		)	0.6		196.7
Intersegment eliminations	—		(529.9		)	(529.9		)	—			—		—			—		—
	$	3,573.7	$	—		$	3,573.7		145.1			$	51.4	$	196.6		$	61.2	$	1,213.3
Interest expense									(22.0		)
Interest income									0.2
									$	123.3



									Income
									(Loss)
									Before								Capital
	Sales								Income			Depreciation					Expendi-
			Inter-						Taxes			and		EBITDA			tures
	Trade		segment			Total			(c)			Amortization		(b) (c)			(a)		Assets
	(millions)
Year Ended December 31, 2013
Wood Products	$	674.0	$	460.1		$	1,134.1		$	77.7		$	28.7	$	106.3		$	133.6	$	514.5
Building Materials Distribution	2,599.5		0.1			2,599.6			39.9			9.2		49.2			14.7		456.1
Corporate and Other	—		—			—			(19.3		)	0.1		(19.1		)	0.5		125.2
Intersegment eliminations	—		(460.2		)	(460.2		)	—			—		—			—		—
	$	3,273.5	$	—		$	3,273.5		98.3			$	38.0	$	136.4		$	148.8	$	1,095.9
Interest expense									(20.4		)
Interest income									0.2
									$	78.1

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(a)	Capital spending in 2013 for Wood Products includes $103.0 million for the acquisition of two plywood manufacturing facilities in the Carolinas.

(b)

EBITDA is defined as income (loss) before interest (interest expense and interest income), income taxes, and depreciation and amortization. EBITDA is the primary measure used by our chief operating decision maker to evaluate segment operating performance and to decide how to allocate resources to segments. We believe EBITDA is useful to investors because it provides a means to evaluate the operating performance of our segments and our company on an ongoing basis using criteria that are used by our internal decision makers and because it is frequently used by investors and other interested parties when comparing companies in our industry that have different financing and capital structures and/or tax rates. We believe EBITDA is a meaningful measure because it presents a transparent view of our recurring operating performance and allows management to readily view operating trends, perform analytical comparisons, and identify strategies to improve operating performance. EBITDA, however, is not a measure of our liquidity or financial performance under generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), income (loss) from operations, or any other performance measure derived in accordance with GAAP or as an alternative to cash flow from operating activities as a measure of our liquidity. The use of EBITDA instead of net income (loss) or segment income (loss) has limitations as an analytical tool, including the inability to determine profitability; the exclusion of interest expense, interest income, and associated significant cash requirements; and the exclusion of depreciation and amortization, which represent unavoidable operating costs. Management compensates for the limitations of EBITDA by relying on our GAAP results. Our measure of EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

The following is a reconciliation of net income to EBITDA for the consolidated company:



	Year Ended December 31
	2015			2014			2013
	(millions)
Net income ⁽¹⁾	$	52.2		$	80.0		$	116.9
Interest expense	22.5			22.0			20.4
Interest income	(0.3		)	(0.2		)	(0.2		)
Income tax provision (benefit) ⁽¹⁾	28.5			43.3			(38.8		)
Depreciation and amortization	55.6			51.4			38.0
EBITDA	$	158.5		$	196.6		$	136.4

_______________________________________


(1)	The year ended December 31, 2013, includes a $68.7 million income tax benefit associated with the recording of net deferred tax assets upon our conversion to a corporation.