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Acquisition (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the allocations of the purchase price to the assets acquired and liabilities assumed, based on our current estimates of the fair value at the date of the Acquisition:

						Acquisition Date Fair Value
						(thousands)
Accounts receivable						$	18,216
Inventories						22,300
Property and equipment						251,329
Other assets						1,874
Intangible assets:
Trade name						1,200
Customer relationships						156,700
Goodwill						73,974
Assets acquired						525,593
Accounts payable and accrued liabilities						6,134
Other long-term liabilities						2,578
Liabilities assumed						8,712
Net assets acquired						$	516,881

Business Acquisition, Pro Forma Information [Table Text Block]

The following pro forma financial information presents the combined results of operations as if the two Coastal Plywood facilities had been combined with us on January 1, 2021. The pro forma results are intended for information purposes only and do not purport to represent what the combined companies' results of operations would actually have been had the related transaction in fact occurred on January 1, 2021. They also do not reflect any cost savings, operating synergies, or revenue enhancements that we may achieve or the costs necessary to achieve these cost savings, operating synergies, revenue enhancements, or integration efforts.

			Pro Forma
			Three Months Ended September 30												Nine Months Ended September 30
			2022						2021						2022						2021
			(unaudited, thousands, except per share data)
Sales			$	2,175,930					$	1,950,267					$	6,989,799					$	6,449,695
Net income (a)			$	229,125					$	100,109					$	809,334					$	638,834

___________________________________ 

(a)    The pro forma financial information for the three and nine months ended September 30, 2022 was adjusted to exclude $0.1 million and $1.3 million, respectively, of acquisition-related costs for legal, accounting, and other advisory-related services.

X

- Definition

Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(4)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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