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Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

Segment Information

We operate our business using two reportable segments: Wood Products and Building Materials Distribution. Corporate and Other results are presented as reconciling items to arrive at total net sales and operating income. There are no differences in our basis of measurement of segment profit or loss from those disclosed in Note 17, Segment Information, of the Notes to Consolidated Financial Statements in "Item 8. Financial Statements and Supplementary Data" in our 2018 Form 10-K.

Wood Products and Building Materials Distribution segment sales to external customers, including related parties, by product line are as follows:

		Three Months Ended June 30								Six Months Ended June 30
		2019				2018				2019				2018
		(millions)
Wood Products (a)
LVL		$	12.0			$	9.8			$	23.9			$	23.2
I-joists		8.0				7.9				13.3				17.8
Other engineered wood products		8.6				5.8				14.3				12.3
Plywood and veneer		63.5				96.7				130.9				183.7
Lumber		14.0				25.0				27.2				49.9
Byproducts		18.0				22.8				38.0				44.9
Particleboard		—				11.8				—				22.6
Other		8.6				14.7				19.4				30.2
		132.7				194.3				267.1				384.8
Building Materials Distribution
Commodity		450.7				602.7				849.0				1,093.2
General line		429.6				392.9				753.1				708.1
Engineered wood products		217.2				218.2				403.0				404.8
		1,097.4				1,213.8				2,005.1				2,206.1
		$	1,230.1			$	1,408.1			$	2,272.2			$	2,591.0

 ___________________________________ 

(a) Amounts represent sales to external customers. Sales are calculated after intersegment sales eliminations to our Building Materials Distribution segment, as well as the cost of EWP rebates and sales allowances provided at various stages of the supply chain (including distributors, retail lumberyards, and professional builders). For the six months ended June 30, 2019, approximately 76% of Wood Products' EWP sales volumes were to our Building Materials Distribution segment.

An analysis of our operations by segment is as follows: 

	Three Months Ended June 30								Six Months Ended June 30
	2019				2018				2019				2018
	(thousands)
Net sales by segment
Wood Products	$	334,256			$	425,483			$	653,779			$	823,474
Building Materials Distribution	1,097,421				1,213,783				2,005,129				2,206,164
Intersegment eliminations and other (a)	(201,596		)		(231,134		)		(386,741		)		(438,665		)
Total net sales	$	1,230,081			$	1,408,132			$	2,272,167			$	2,590,973
Segment operating income
Wood Products	$	18,908			$	36,482			$	30,538			$	62,603
Building Materials Distribution	33,800				47,713				51,317				80,101
Total segment operating income	52,708				84,195				81,855				142,704
Unallocated corporate and other	(7,576		)		(10,139		)		(15,069		)		(16,844		)
Income from operations	$	45,132			$	74,056			$	66,786			$	125,860

___________________________________ 

(a)

Primarily represents intersegment sales from our Wood Products segment to our Building Materials Distribution segment.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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