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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Sales to External Customers

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

			Three Months Ended September 30												Nine Months Ended September 30
			2025						2024						2025						2024
			(millions)
Wood Products (a)
LVL (b)			$	7.3					$	21.5					$	38.4					$	46.7
I-joists (b)			5.4						14.3						25.3						30.5
Other engineered wood products (b)			3.6						5.6						16.1						22.0
Plywood and veneer			60.7						70.2						182.1						220.0
Lumber			12.1						13.9						37.3						42.3
Byproducts			16.2						15.7						47.8						51.2
Other			6.3						5.1						19.3						16.4
			111.7						146.3						366.2						429.1
Building Materials Distribution
Commodity			531.5						547.7						1,600.1						1,679.5
General line			727.4						685.7						2,060.9						2,005.2
Engineered wood products			297.3						334.1						917.1						1,043.0
			1,556.2						1,567.5						4,578.2						4,727.7
			$	1,667.8					$	1,713.7					$	4,944.4					$	5,156.8

 ___________________________________  

(a)    Amounts represent sales to external customers. Sales are calculated after intersegment sales eliminations to our BMD segment.

(b)    Sales of EWP to external customers are net of the cost of all EWP rebates and sales allowances provided at various stages of the supply chain (including distributors, dealers, and homebuilders). For both the nine months ended September 30, 2025 and 2024, approximately 75% of Wood Products' EWP sales volumes were to our BMD segment.

Schedule of Segment Information

An analysis of our operations by segment is as follows:

			Three Months Ended September 30												Nine Months Ended September 30
			2025						2024						2025						2024
			(thousands)
Wood Products
Sales			$	396,401					$	453,896					$	1,259,481					$	1,412,647
Less:
Materials, labor, and other operating expenses (excluding depreciation) (a)			368,406						361,313						1,129,103						1,097,954
Other segment items (b)			13,489						15,179						38,385						46,617
Depreciation and amortization			26,561						23,551						72,363						70,205
			408,456						400,043						1,239,851						1,214,776
Segment income (loss) from operations			$	(12,055)					$	53,853					$	19,630					$	197,871
Building Materials Distribution
Sales			$	1,556,150					$	1,567,466					$	4,578,181					$	4,727,708
Less:
Materials, labor, and other operating expenses (excluding depreciation) (a)			1,321,283						1,322,001						3,887,978						4,009,932
Selling and distribution expenses			154,841						146,994						438,805						419,324
Other segment items (b)			10,195						10,722						26,940						29,992
Depreciation and amortization			15,545						12,928						43,722						35,776
			1,501,864						1,492,645						4,397,445						4,495,024
Segment income from operations			$	54,286					$	74,821					$	180,736					$	232,684
Reconciliation of sales
Wood Products			$	396,401					$	453,896					$	1,259,481					$	1,412,647
Building Materials Distribution			1,556,150						1,567,466						4,578,181						4,727,708
Intersegment eliminations (c)			(284,745)						(307,638)						(893,248)						(983,541)
Total net sales			$	1,667,806					$	1,713,724					$	4,944,414					$	5,156,814
Reconciliation of income (loss)
Wood Products			$	(12,055)					$	53,853					$	19,630					$	197,871
Building Materials Distribution			54,286						74,821						180,736						232,684
Unallocated corporate costs (d)			(9,902)						(11,318)						(32,988)						(33,236)
Income from operations			$	32,329					$	117,356					$	167,378					$	397,319
Interest expense			(5,327)						(6,082)						(15,822)						(18,257)
Interest income			4,181						10,168						14,314						31,308
Other unallocated items (e)			(326)						(603)						(223)						(1,787)
Income before income taxes			$	30,857					$	120,839					$	165,647					$	408,583

___________________________________ 

(a)    "Materials, labor, and other operating expenses (excluding depreciation)" for our Wood Products segment are the costs associated with Wood Products' manufacturing processes, including wood fiber, labor, glues and resins, energy, operating supplies,

maintenance materials, freight, and other manufacturing costs. Substantially all costs included in "Materials, labor, and other operating expenses (excluding depreciation)" for our BMD segment are for inventory purchased for resale.

(b)    Other segment items for our Wood Products segment includes selling and distribution expenses, general and administrative expenses, and other income (expense). Other segment items for our BMD segment includes general and administrative expenses and other income (expense).

(c)    Primarily represents intersegment sales from our Wood Products segment to our BMD segment.

(d)    Unallocated corporate costs include corporate support staff services, and related assets and liabilities. Support services include, but are not limited to, information technology, human resources, finance, accounting, insurance and legal functions. For both the three and nine months ended September 30, 2025, unallocated corporate costs include a $1.9 million settlement gain for property damages at one of our distribution facilities.

(e)    Other unallocated items include foreign exchange gains and losses, pension expense (excluding service costs) and the change in fair value of interest rate swaps.

			September 30, 2025						December 31, 2024
			(thousands)
Assets
Wood Products			$	1,195,969					$	1,145,555
Building Materials Distribution			1,706,459						1,524,214
Corporate			499,583						699,614
Total assets			$	3,402,011					$	3,369,383

			Three Months Ended September 30												Nine Months Ended September 30
			2025						2024						2025						2024
			(thousands)
Capital expenditures
Wood Products			$	28,823					$	24,760					$	98,870					$	62,207
Building Materials Distribution			26,353						36,901						88,372						73,477
Corporate			14						—						205						76
Total capital expenditures			$	55,190					$	61,661					$	187,447					$	135,760

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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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.

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