Trex (TREX) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 11, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	TREX
Entity Registrant Name	TREX CO INC
Entity Central Index Key	1,069,878
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		29,394,429

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net sales	$ 106,168	$ 94,023	$ 384,294	$ 351,602
Cost of sales	76,223	71,880	235,312	228,688
Gross profit	29,945	22,143	148,982	122,914
Selling, general and administrative expenses	19,379	15,698	64,786	58,763
Income from operations	10,566	6,445	84,196	64,151
Interest expense, net	77	157	1,108	482
Income before income taxes	10,489	6,288	83,088	63,669
Provision for income taxes	3,591	2,544	29,510	23,657
Net income	$ 6,898	$ 3,744	$ 53,578	$ 40,012
Basic earnings per common share	$ 0.24	$ 0.12	$ 1.82	$ 1.27
Basic weighted average common shares outstanding	29,295,284	31,227,643	29,419,958	31,547,212
Diluted earnings per common share	$ 0.23	$ 0.12	$ 1.81	$ 1.25
Diluted weighted average common shares outstanding	29,457,653	31,537,010	29,581,578	31,923,255
Comprehensive income	$ 6,898	$ 3,744	$ 53,578	$ 40,012

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 22,937	$ 5,995
Accounts receivable, net	45,806	47,386
Inventories	16,507	23,104
Prepaid expenses and other assets	4,901	13,409
Deferred income taxes	9,136	9,136
Total current assets	99,287	99,030
Property, plant and equipment, net	98,836	100,924
Goodwill and other intangibles	10,523	10,526
Other assets	2,005	1,518
Total assets	210,651	211,998
Current liabilities:
Accounts payable	10,974	17,733
Accrued expenses and other liabilities	31,654	28,891
Accrued warranty	6,300	6,825
Line of credit		7,000
Total current liabilities	48,928	60,449
Deferred income taxes	4,597	4,597
Non-current accrued warranty	32,908	26,698
Other long-term liabilities	3,699	3,791
Total liabilities	90,132	95,535
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 3,000,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value, 80,000,000 shares authorized; 34,888,110 and 34,819,259 shares issued and 29,394,429 and 30,904,530 shares outstanding at September 30, 2016 and December 31, 2015, respectively	349	348
Additional paid-in capital	120,710	116,947
Retained earnings	172,973	119,395
Treasury stock, at cost, 5,493,681 and 3,914,729 shares at September 30, 2016 and December 31, 2015, respectively	(173,513)	(120,227)
Total stockholders' equity	120,519	116,463
Total liabilities and stockholders' equity	$ 210,651	$ 211,998

Condensed Consolidated Balance4

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	34,888,110	34,819,259
Common stock, shares outstanding	29,394,429	30,904,530
Treasury stock, shares	5,493,681	3,914,729

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net income	$ 53,578	$ 40,012
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,893	10,920
Deferred income taxes		(589)
Stock-based compensation	3,806	4,021
(Gain) loss on disposal of property, plant and equipment	(189)	168
Excess tax benefits from stock compensation	(1,699)	(2,437)
Other non-cash adjustments	(287)	(269)
Changes in operating assets and liabilities:
Accounts receivable	1,580	(44,005)
Inventories	6,597	6,792
Prepaid expenses and other assets	(771)	(310)
Accounts payable	(6,759)	(9,904)
Accrued expenses and other liabilities	5,005	3,626
Income taxes receivable/payable	10,126	4,126
Net cash provided by operating activities	81,880	12,151
Investing Activities
Expenditures for property, plant and equipment	(8,534)	(18,279)
Proceeds from sales of property, plant and equipment	4,349	35
Purchase of acquired company, net of cash acquired		(32)
Net cash used in investing activities	(4,185)	(18,276)
Financing Activities
Borrowings under line of credit	242,700	199,000
Principal payments under line of credit	(249,700)	(150,500)
Repurchases of common stock	(55,185)	(52,081)
Financing costs	(485)
Proceeds from employee stock purchase and option plans	218	257
Excess tax benefits from stock compensation	1,699	2,437
Net cash used in financing activities	(60,753)	(887)
Net increase (decrease) in cash and cash equivalents	16,942	(7,012)
Cash and cash equivalents, beginning of period	5,995	9,544
Cash and cash equivalents, end of period	22,937	2,532
Supplemental Disclosure:
Cash paid for interest	849	390
Cash paid for income taxes, net	$ 19,435	$ 20,164

Business and Organization

Business and Organization	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	1. BUSINESS AND ORGANIZATION Trex Company, Inc. (Company) is the world’s largest manufacturer of wood-alternative decking and railing products, which are marketed under the brand name Trex ®

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments except as otherwise described herein) considered necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements. The consolidated results of operations for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the full fiscal year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2015 and 2014 and for each of the three years in the period ended December 31, 2015 included in the Annual Report of Trex Company, Inc. on Form 10-K, as filed with the U.S. Securities and Exchange Commission. The Company’s critical accounting policies are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	3. NEW ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “ Revenue from Contracts with Customers (Topic 606). In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation – Stock Compensation (Topic 718) • Prospectively for the recognition of excess tax benefits and deficiencies in the tax provision; • Retrospectively or prospectively for the classification of income tax benefits and deficiencies in the statement of cash flows; and • Retrospectively for the classification of shares withheld to satisfy employee taxes in the statement of cash flows. In August 2016, the FASB issued ASU No. 2016-15, “ Statement of Cash Flows (Topic 230)

Inventories

Inventories	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories	4. INVENTORIES Inventories, at LIFO (last-in, first-out) value, consist of the following (in thousands): September 30, December 31, Finished goods $ 21,424 $ 24,961 Raw materials 18,329 21,384 Total FIFO (first-in, first-out) inventories 39,753 46,345 Reserve to adjust inventories to LIFO value (23,246 ) (23,241 ) Total LIFO inventories $ 16,507 $ 23,104 The Company utilizes the LIFO method of accounting for inventory, which generally provides for the matching of current costs with current revenues. However, under the LIFO method, reductions in annual inventory balances cause a portion of the Company’s cost of sales to be based on historical costs rather than current year costs (LIFO liquidation). Reductions in interim inventory balances expected to be replenished by year-end do not result in a LIFO liquidation. Accordingly, interim LIFO calculations are based, in part, on management’s estimates of expected year-end inventory levels and costs which may differ from actual results. Since inventory levels and costs are subject to factors beyond management’s control, interim results are subject to the final year-end LIFO inventory valuation. There were no LIFO inventory liquidations or related impact on cost of sales in the nine months ended September 30, 2016 or 2015.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Prepaid Expenses and Other Assets	5. PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other assets consist of the following (in thousands): September 30, 2016 December 31, Asset held for sale $ 2,010 $ 6,154 Prepaid expenses 1,497 1,209 Income tax receivable — 5,134 Other 1,394 912 Total prepaid expenses and other assets $ 4,901 $ 13,409 In January 2016, the Company sold a portion of the Olive Branch facility that contained buildings for $4.2 million and, as of September 30, 2016, continues to own approximately 62 acres of undeveloped land which is classified as held for sale in prepaid expenses and other assets.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	6. FAIR VALUE MEASUREMENT The Company’s asset measured at fair value is summarized in the following table and consists of property held for sale. Fair value is determined based on management’s best estimate of market participants’ pricing of the property, including input from broker and industry specialists, and considers the condition of the property (in thousands): Total Fair Value Measurement Level 1 Level 2 Level 3 Asset held for sale $ 2,010 $ — $ — $ 2,010

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	7. ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following (in thousands): September 30, December 31, Sales and marketing $ 14,655 $ 11,928 Compensation and benefits 9,385 11,217 Income taxes 3,352 — Manufacturing costs 1,444 1,732 Rent obligations 419 664 Other 2,399 3,350 Total accrued expenses and other liabilities $ 31,654 $ 28,891

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	8. DEBT The Company’s outstanding debt consists of a revolving credit facility. Revolving Credit Facility Through January 11, 2016, the Company’s Second Amended and Restated Credit Agreement provided the Company with one or more revolving loans in a collective maximum principal amount of $150 million from January 1 through June 30 of each year, and a maximum principal amount of $100 million from July 1 through December 31 of each year. On January 12, 2016, the Company entered into a Third Amended and Restated Credit Agreement, as amended, with Bank of America, N.A. as Lender, Administrative Agent, Swing Line Lender and Letter of Credit Issuer, and certain other lenders including Citibank, N.A., Capital One, N.A., and SunTrust. The Third Amended Credit Agreement, as amended, provides the Company with one or more revolving loans in a collective maximum principal amount of $250 million from January 1 through June 30 of each year, and a maximum principal amount of $200 million from July 1 through December 31 of each year throughout the term, which ends January 12, 2021. The Company had no outstanding borrowings under its revolving credit facility and remaining available borrowing capacity of $200 million at September 30, 2016. Compliance with Debt Covenants and Restrictions The Company’s ability to make scheduled principal and interest payments, borrow and repay amounts under any outstanding revolving credit facility and continue to comply with any loan covenants depends primarily on the Company’s ability to generate sufficient cash flow from operations. As of September 30, 2016, the Company was in compliance with all of the covenants contained in its debt agreements. Failure to comply with the loan covenants might cause lenders to accelerate the repayment obligations under the credit facility, which may be declared payable immediately based on a default.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Financial Instruments	9. FINANCIAL INSTRUMENTS The Company considers the recorded value of its financial assets and liabilities, consisting primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities to approximate the fair value of the respective assets and liabilities at September 30, 2016 and December 31, 2015.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stockholders' Equity	10. STOCKHOLDERS’ EQUITY Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income available to common shareholders $ 6,898 $ 3,744 $ 53,578 $ 40,012 Denominator: Basic weighted average shares outstanding 29,295,284 31,227,643 29,419,958 31,547,212 Effect of dilutive securities: Stock appreciation rights and options 81,612 182,082 95,738 216,276 Restricted stock 80,757 127,285 65,882 159,767 Diluted weighted average shares outstanding 29,457,653 31,537,010 29,581,578 31,923,255 Basic earnings per share $ 0.24 $ 0.12 $ 1.82 $ 1.27 Diluted earnings per share $ 0.23 $ 0.12 $ 1.81 $ 1.25 Diluted earnings per share is computed using the weighted average number of shares determined for the basic earnings per share computation plus the dilutive effect of common stock equivalents using the treasury stock method. The computation of diluted earnings per share excludes the following potentially dilutive securities because the effect would be anti-dilutive: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Restricted stock and stock options 46 2,004 15 668 Stock appreciation rights — 7,726 6,174 2,575 Stock Repurchase Programs On October 23, 2014, the Board of Directors authorized a common stock repurchase program of up to 2,000,000 shares of the Company’s outstanding common stock (October 2014 Stock Repurchase Program). This authorization had no expiration date. In 2015, the Company repurchased 1,134,300 shares for $45.2 million under the October 2014 Stock Repurchase Program. On October 22, 2015, the Board of Directors terminated the October 2014 Stock Repurchase Program. On October 22, 2015, the Board of Directors adopted a new stock repurchase program of up to 3,150,000 shares of the Company’s outstanding common stock (October 2015 Stock Repurchase Program). This authorization has a termination date of December 31, 2016. As of September 30, 2016, the Company has repurchased 1,578,952 shares for $53.3 million under the October 2015 Stock Repurchase Program.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	11. STOCK-BASED COMPENSATION The Company has one stock-based compensation plan, the 2014 Stock Incentive Plan (Plan), approved by the Company’s stockholders in April 2014. The Plan amended and restated in its entirety the Trex Company, Inc. 2005 Stock Incentive Plan. The Plan is administered by the Compensation Committee of the Company’s Board of Directors. Stock-based compensation is granted to officers, directors and certain key employees in accordance with the provisions of the Plan. The Plan provides for grants of stock options, restricted stock, restricted stock units, stock appreciation rights (SARs), and unrestricted stock. As of September 30, 2016, the total aggregate number of shares of the Company’s common stock that may be issued under the Plan is 6,420,000. In 2014, the Company began granting performance-based restricted stock in addition to the time-based restricted stock it previously granted. The performance-based restricted shares have a three-year vesting period, vesting one-third each year based on target earnings before interest, taxes, depreciation and amortization for 1 year, cumulative 2 years and cumulative 3 years, respectively. The number of shares that vest, with respect to each vesting, will be between 0% and 200% of the target number of shares. In 2015, the Company began issuing restricted stock units in lieu of restricted stock. Accordingly, time-based restricted stock units replaced time-based restricted stock and performance-based restricted stock units replaced performance-based restricted stock. The vesting terms of the restricted stock units are identical to the vesting provisions of the restricted stock. The fair value of each SAR is estimated on the date of grant using a Black-Scholes option-pricing formula. There were no SARs issued during the nine months ended September 30, 2016. For SARs issued in the nine months ended September 30, 2015 the assumptions shown in the following table were used: Nine Months Ended September 30, 2015 Weighted-average fair value of grants $ 16.26 Dividend yield 0 % Average risk-free interest rate 1.6 % Expected term (years) 5 Expected volatility 43 % The following table summarizes the Company’s stock-based compensation grants for the nine months ended September 30, 2016: Stock Awards Granted Weighted-Average Per Share Time-based restricted stock units 57,731 $ 37.59 Performance-based restricted stock units (a) 44,925 $ 35.83 (a) Includes 41,601 of target performance-based restricted stock unit awards granted during the nine months ended September 30, 2016, and an adjustment of 3,324 grants due to the actual performance level achieved for restricted stock awarded in 2015. The Company recognizes stock-based compensation expense ratably over the period from the grant date to the earlier of: (1) the vesting date of the award, or (2) the date the grantee is eligible to retire without forfeiting the award. For performance-based restricted stock and performance-based restricted stock units, expense is recognized ratably over the performance and vesting period of each tranche based on management’s judgment of the ultimate award that is likely to be paid out based on the achievement of the predetermined performance measures. The following table summarizes the Company’s stock-based compensation expense (in thousands): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Stock appreciation rights — $ 111 $ 184 $ 400 Time-based restricted stock and units 368 750 1,847 2,245 Performance-based restricted stock and units 450 432 1,680 1,320 Employee stock purchase plan 43 11 95 56 Total stock-based compensation $ 861 $ 1,304 $ 3,806 $ 4,021 Total unrecognized compensation cost related to unvested awards as of September 30, 2016 was $3.3 million. The cost of these unvested awards is being recognized over the requisite vesting period of each award.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	12. INCOME TAXES The Company’s effective tax rate for the nine months ended September 30, 2016 and 2015 was 35.5% and 37.2%, respectively, which resulted in expense of $29.5 million and $23.7 million, respectively. A difference of 1.3% in the effective tax rate was due to non-deductible tax items in 2015. The remaining difference of 0.4% was due to the availability of Federal research and development tax credits in 2016. The Company analyzes its deferred tax assets each reporting period, considering all available positive and negative evidence in determining the expected realization of those deferred tax assets. As of September 30, 2016, the Company maintains a valuation allowance of $4.6 million against deferred tax assets primarily related to state tax credits it estimates will expire before they are realized. During the nine months ended September 30, 2016, the Company realized $1.7 million of excess tax benefits from stock-based awards and recorded a corresponding increase to additional paid-in capital. The Company operates in multiple tax jurisdictions and, in the normal course of business, its tax returns are subject to examination by various taxing authorities. Such examinations may result in future assessments by these taxing authorities, and the Company accrues a liability when it believes that it is more likely than not that benefits of tax positions will not be realized. The Company believes that adequate provisions have been made for all tax returns subject to examination. As of September 30, 2016, Federal tax years 2012 through 2015 remain subject to examination. Sales made to foreign distributors are not taxable in any foreign jurisdictions as the Company does not have a taxable presence in any foreign jurisdiction.

Seasonality

Seasonality	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Seasonality	13. SEASONALITY The Company’s operating results have historically varied from quarter to quarter, often attributable to seasonal trends in the demand for Trex products. The Company has historically experienced lower net sales during the fourth quarter due to the holiday season. Also, seasonal, erratic or prolonged adverse weather conditions in certain geographic regions reduce the level of home improvement and construction activity and can shift net sales to a later period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. COMMITMENTS AND CONTINGENCIES Contract Termination Costs The Company leases 55,047 square feet of office and storage space that it does not occupy, but has sublet all of the office space for the remainder of the term of its lease obligation, which ends June 30, 2019. The Company estimates that the future sublease receipts will be less than the remaining minimum lease payment obligations under its lease and has recorded a liability for the present value of the expected shortfall. As of September 30, 2016, minimum payments remaining under the Company’s lease relating to its reconsidered corporate relocation over the years ending December 31, 2016, 2017, 2018, and 2019 are $0.5 million, $1.9 million, $2.0 million and $1.0 million, respectively. Net minimum receipts remaining under the Company’s existing subleases over the years ending December 31, 2016, 2017, 2018 and 2019 are $0.3 million, $1.3 million, $1.3 million and $0.7 million, respectively. The following table provides information about the Company’s liability related to the lease (in thousands): 2016 2015 Beginning balance, January 1 $ 2,106 $ 3,033 Net rental payments (536 ) (903 ) Accretion of discount 113 173 (Derease) increase in net estimated contract termination costs (85 ) 206 Ending balance, September 30 $ 1,598 $ 2,509 Product Warranty The Company warrants that its products will be free from material defects in workmanship and materials. This warranty generally extends for a period of 25 years for residential use and 10 years for commercial use, excluding TrexTrim™ and Trex Reveal ® ® ® ® The Company continues to receive and settle claims for products manufactured at its Nevada facility prior to 2007 that exhibit surface flaking and maintains a warranty reserve to provide for the settlement of these claims. Estimating the warranty reserve for surface flaking claims requires management to estimate (1) the number of claims to be settled with payment and (2) the average cost to settle each claim. To estimate the number of claims to be settled with payment, the Company utilizes actuarial techniques to quantify both the expected number of claims to be received and the percentage of those claims that will ultimately require payment (collectively, elements). Estimates for these elements are quantified using a range of assumptions derived from claim count history and the identification of factors influencing the claim counts. The number of claims received has declined each year since peaking in 2009, although the rate of decline has decelerated in recent years. Additionally, events, such as the 2009 settlement of a class action lawsuit covering the surface defect and communications by the Company in 2013 informing homeowners of potential hazards associated with products exhibiting surface flaking that are not timely replaced, have obscured observable trends in historical claims activity. The cost per claim varies due to a number of factors, including the size of affected decks, the availability and type of replacement material used, the cost of production of replacement material and the method of claim settlement. The Company monitors surface flaking claims activity each quarter for indications that its estimates require revision. Typically, a majority of surface flaking claims received in a year are received during the summer outdoor season, which spans the second and third quarters. It has been the Company’s practice to utilize the actuarial techniques discussed above during the third quarter, after a significant portion of all claims has been received for the fiscal year and variances to annual claims expectations are more meaningful. The number of claims received in the nine months ended September 30, 2016 was lower than claims received in the nine months ended September 30, 2015, continuing the historical year-over-year decline in incoming claims, but was higher than the Company’s expectations. Also, the average settlement cost per claim experienced in the nine months ended September 30, 2016 was higher than the average settlement cost per claim experienced during the nine months ended September 30, 2015 and higher than the Company’s expectation for 2016. As a result and after actuarial review, the Company revised its estimate and recorded an increase to the warranty reserve of $9.8 million during the third quarter of 2016. Based on the facts and circumstances at September 30, 2016, the Company believes its reserve is sufficient to cover future surface flaking obligations. The Company notes that its annual cash outflows for surface flaking claims declined by $1.7 million, or 19%, in 2015 compared to 2014, and by $1.1 million, or 21%, during the nine months ended September 30, 2016 compared to the same period in 2015. The Company’s analysis is based on currently known facts and a number of assumptions, as discussed above, and current expectations. Projecting future events such as the number of claims to be received, the number of claims that will require payment and the average cost of claims could cause the actual warranty liabilities to be higher or lower than those projected, which could materially affect the Company’s financial condition, results of operations or cash flows. The Company estimates that the annual number of claims received will continue to decline over time and that the average cost per claim will increase slightly, primarily due to inflation. If the level of claims received or average cost per claim differs materially from expectations, it could result in additional increases or decreases to the warranty reserve and a decrease or increase in earnings and cash flows in future periods. The Company estimates that a 10% change in the expected number of remaining claims to be settled with payment or the expected cost to settle claims may result in approximately a $3.5 million change in the surface flaking warranty reserve. The following is a reconciliation of the Company’s warranty reserve that represents amounts accrued for surface flaking claims (in thousands): 2016 2015 Beginning balance, January 1 $ 29,673 $ 31,419 Changes in estimates related to pre-existing warranties 9,835 5,426 Settlements made during the period (4,188 ) (5,286 ) Ending balance, September 30 $ 35,320 $ 31,559 The remainder of the Company’s warranty reserve represents amounts accrued for non-surface flaking claims. Legal Matters The Company has lawsuits, as well as other claims, pending against it which are ordinary routine litigation and claims incidental to the business. Management has evaluated the merits of these lawsuits and claims, and believes that their ultimate resolution will not have a material effect on the Company’s consolidated financial condition, results of operations, liquidity or competitive position.

Financial Instruments (Policies

Financial Instruments (Policies)	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Financial Instruments	The Company considers the recorded value of its financial assets and liabilities, consisting primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities to approximate the fair value of the respective assets and liabilities at September 30, 2016 and December 31, 2015.
Share-based Compensation	The Company has one stock-based compensation plan, the 2014 Stock Incentive Plan (Plan), approved by the Company’s stockholders in April 2014. The Plan amended and restated in its entirety the Trex Company, Inc. 2005 Stock Incentive Plan. The Plan is administered by the Compensation Committee of the Company’s Board of Directors. Stock-based compensation is granted to officers, directors and certain key employees in accordance with the provisions of the Plan. The Plan provides for grants of stock options, restricted stock, restricted stock units, stock appreciation rights (SARs), and unrestricted stock. As of September 30, 2016, the total aggregate number of shares of the Company’s common stock that may be issued under the Plan is 6,420,000. In 2014, the Company began granting performance-based restricted stock in addition to the time-based restricted stock it previously granted. The performance-based restricted shares have a three-year vesting period, vesting one-third each year based on target earnings before interest, taxes, depreciation and amortization for 1 year, cumulative 2 years and cumulative 3 years, respectively. The number of shares that vest, with respect to each vesting, will be between 0% and 200% of the target number of shares. In 2015, the Company began issuing restricted stock units in lieu of restricted stock. Accordingly, time-based restricted stock units replaced time-based restricted stock and performance-based restricted stock units replaced performance-based restricted stock. The vesting terms of the restricted stock units are identical to the vesting provisions of the restricted stock.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Summary of Inventories, at LIFO Value	Inventories, at LIFO (last-in, first-out) value, consist of the following (in thousands): September 30, December 31, Finished goods $ 21,424 $ 24,961 Raw materials 18,329 21,384 Total FIFO (first-in, first-out) inventories 39,753 46,345 Reserve to adjust inventories to LIFO value (23,246 ) (23,241 ) Total LIFO inventories $ 16,507 $ 23,104

Prepaid Expenses and Other As22

Prepaid Expenses and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Summary of Prepaid Expenses and Other Assets	Prepaid expenses and other assets consist of the following (in thousands): September 30, 2016 December 31, Asset held for sale $ 2,010 $ 6,154 Prepaid expenses 1,497 1,209 Income tax receivable — 5,134 Other 1,394 912 Total prepaid expenses and other assets $ 4,901 $ 13,409

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Summary of Fair Value of Asset Held for Sale	The Company’s asset measured at fair value is summarized in the following table and consists of property held for sale. Fair value is determined based on management’s best estimate of market participants’ pricing of the property, including input from broker and industry specialists, and considers the condition of the property (in thousands): Total Fair Value Measurement Level 1 Level 2 Level 3 Asset held for sale $ 2,010 $ — $ — $ 2,010

Accrued Expenses and Other Li24

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): September 30, December 31, Sales and marketing $ 14,655 $ 11,928 Compensation and benefits 9,385 11,217 Income taxes 3,352 — Manufacturing costs 1,444 1,732 Rent obligations 419 664 Other 2,399 3,350 Total accrued expenses and other liabilities $ 31,654 $ 28,891

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income available to common shareholders $ 6,898 $ 3,744 $ 53,578 $ 40,012 Denominator: Basic weighted average shares outstanding 29,295,284 31,227,643 29,419,958 31,547,212 Effect of dilutive securities: Stock appreciation rights and options 81,612 182,082 95,738 216,276 Restricted stock 80,757 127,285 65,882 159,767 Diluted weighted average shares outstanding 29,457,653 31,537,010 29,581,578 31,923,255 Basic earnings per share $ 0.24 $ 0.12 $ 1.82 $ 1.27 Diluted earnings per share $ 0.23 $ 0.12 $ 1.81 $ 1.25
Antidilutive Securities Excluded from Computation of Earnings Per Share	The computation of diluted earnings per share excludes the following potentially dilutive securities because the effect would be anti-dilutive: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Restricted stock and stock options 46 2,004 15 668 Stock appreciation rights — 7,726 6,174 2,575

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Assumptions Used to Estimate Fair Value of Each SAR	The fair value of each SAR is estimated on the date of grant using a Black-Scholes option-pricing formula. There were no SARs issued during the nine months ended September 30, 2016. For SARs issued in the nine months ended September 30, 2015 the assumptions shown in the following table were used: Nine Months Ended September 30, 2015 Weighted-average fair value of grants $ 16.26 Dividend yield 0 % Average risk-free interest rate 1.6 % Expected term (years) 5 Expected volatility 43 %
Summary of Stock-Based Compensation Grants	The following table summarizes the Company’s stock-based compensation grants for the nine months ended September 30, 2016: Stock Awards Granted Weighted-Average Per Share Time-based restricted stock units 57,731 $ 37.59 Performance-based restricted stock units (a) 44,925 $ 35.83 (a) Includes 41,601 of target performance-based restricted stock unit awards granted during the nine months ended September 30, 2016, and an adjustment of 3,324 grants due to the actual performance level achieved for restricted stock awarded in 2015.
Summary of Stock-Based Compensation Expense	The following table summarizes the Company’s stock-based compensation expense (in thousands): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Stock appreciation rights — $ 111 $ 184 $ 400 Time-based restricted stock and units 368 750 1,847 2,245 Performance-based restricted stock and units 450 432 1,680 1,320 Employee stock purchase plan 43 11 95 56 Total stock-based compensation $ 861 $ 1,304 $ 3,806 $ 4,021

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Summary of Liability Related to Lease	The following table provides information about the Company’s liability related to the lease (in thousands): 2016 2015 Beginning balance, January 1 $ 2,106 $ 3,033 Net rental payments (536 ) (903 ) Accretion of discount 113 173 (Derease) increase in net estimated contract termination costs (85 ) 206 Ending balance, September 30 $ 1,598 $ 2,509
Summary of Reconciliation of Company's Warranty Reserve for Surface Flaking Claims	The following is a reconciliation of the Company’s warranty reserve that represents amounts accrued for surface flaking claims (in thousands): 2016 2015 Beginning balance, January 1 $ 29,673 $ 31,419 Changes in estimates related to pre-existing warranties 9,835 5,426 Settlements made during the period (4,188 ) (5,286 ) Ending balance, September 30 $ 35,320 $ 31,559

Business and Organization - Add

Business and Organization - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016Segment
Accounting Policies [Abstract]
Number of reportable segments	1

Inventories - Summary of Invent

Inventories - Summary of Inventories, at LIFO Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 21,424	$ 24,961
Raw materials	18,329	21,384
Total FIFO (first-in, first-out) inventories	39,753	46,345
Reserve to adjust inventories to LIFO value	(23,246)	(23,241)
Total LIFO inventories	$ 16,507	$ 23,104

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Inventory Disclosure [Abstract]
LIFO inventory liquidations	$ 0	$ 0

Prepaid Expenses and Other As31

Prepaid Expenses and Other Assets - Summary of Prepaid Expenses and Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Prepaid Expense and Other Assets [Abstract]
Asset held for sale	$ 2,010	$ 6,154
Prepaid expenses	1,497	1,209
Income tax receivable		5,134
Other	1,394	912
Total prepaid expenses and other assets	$ 4,901	$ 13,409

Prepaid Expenses and Other As32

Prepaid Expenses and Other Assets - Additional Information (Detail) $ in Thousands	1 Months Ended	9 Months Ended
	Jan. 31, 2016USD ($)	Sep. 30, 2016USD ($)a	Sep. 30, 2015USD ($)
Proceeds from sales of property, plant and equipment		$ 4,349	$ 35
Olive Branch Assets [Member]
Area of land own | a		62
Proceeds from sales of property, plant and equipment	$ 4,200

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Fair Value of Asset Held for Sale (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Long Lived Assets Held-for-sale [Line Items]
Asset held for sale	$ 2,010
Level 3 [Member]
Long Lived Assets Held-for-sale [Line Items]
Asset held for sale	$ 2,010

Accrued Expenses and Other Li34

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Sales and marketing	$ 14,655	$ 11,928
Compensation and benefits	9,385	11,217
Income taxes	3,352
Manufacturing costs	1,444	1,732
Rent obligations	419	664
Other	2,399	3,350
Total accrued expenses and other liabilities	$ 31,654	$ 28,891

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Outstanding borrowings under the revolver loans		$ 7,000,000
Third Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Termination date of the Credit Agreement	Jan. 12, 2021
Remaining available borrowing capacity	$ 200,000,000
Revolver Loans Portion Effective January 1 through June 30 [Member] | Third Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount	250,000,000
Revolver Loans Portion Effective January 1 through June 30 [Member] | Second Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount		150,000,000
Revolver Loans Portion Effective July 1 through December 31 [Member] | Third Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount	200,000,000
Revolver Loans Portion Effective July 1 through December 31 [Member] | Second Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount		$ 100,000,000
Revolving Credit Facility [Member] | Third Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under the revolver loans	$ 0

Stockholders' Equity - Computat

Stockholders' Equity - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income available to common shareholders	$ 6,898	$ 3,744	$ 53,578	$ 40,012
Denominator:
Basic weighted average shares outstanding	29,295,284	31,227,643	29,419,958	31,547,212
Effect of dilutive securities:
Diluted weighted average shares outstanding	29,457,653	31,537,010	29,581,578	31,923,255
Basic earnings per share	$ 0.24	$ 0.12	$ 1.82	$ 1.27
Diluted earnings per share	$ 0.23	$ 0.12	$ 1.81	$ 1.25
Stock Appreciation Rights and Options [Member]
Effect of dilutive securities:
Dilutive securities	81,612	182,082	95,738	216,276
Restricted Stock [Member]
Effect of dilutive securities:
Dilutive securities	80,757	127,285	65,882	159,767

Stockholders' Equity - Antidilu

Stockholders' Equity - Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restricted Stock and Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share	46	2,004	15	668
Stock Appreciation Rights [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share		7,726	6,174	2,575

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Millions	Oct. 22, 2015	Sep. 30, 2016	Dec. 31, 2015	Oct. 23, 2014
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, termination date	Oct. 22, 2015
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized shares				2,000,000
October 2014 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased by the Company			1,134,300
Value of shares repurchased by the Company			$ 45.2
October 2015 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased by the Company		1,578,952
Value of shares repurchased by the Company		$ 53.3
Common stock repurchase program, termination date	Dec. 31, 2016
October 2015 Stock Repurchase Program | Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized shares	3,150,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)Planshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock based compensation plans | Plan	1
Unrecognized compensation cost related to unvested awards | $	$ 3.3
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total aggregate number of shares of common stock that may be issued	6,420,000
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance-Based Restricted Stock [Member] | Share-Based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based Compensation vesting percentage	33.33%
Performance-Based Restricted Stock [Member] | Share-Based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based Compensation vesting percentage	33.33%
Performance-Based Restricted Stock [Member] | Share-Based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based Compensation vesting percentage	33.33%
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumptions method used	Black-Scholes option-pricing formula
Stock Awards Granted	0
Minimum [Member] | Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares that will vest	0.00%
Maximum [Member] | Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target number of shares that will vest	200.00%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Assumptions Used to Estimate Fair Value of Each SAR (Detail) - Stock Appreciation Rights [Member]	9 Months Ended
	Sep. 30, 2015$ / shares
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions and Methodology [Line Items]
Weighted-average fair value of grants	$ 16.26
Dividend yield	0.00%
Average risk-free interest rate	1.60%
Expected term (years)	5 years
Expected volatility	43.00%

Stock-Based Compensation - Su41

Stock-Based Compensation - Summary of Stock-Based Compensation Grants (Detail)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Time Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Awards Granted | shares	57,731
Weighted-Average Grant Price Per Share | $ / shares	$ 37.59
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Awards Granted | shares	44,925
Weighted-Average Grant Price Per Share | $ / shares	$ 35.83

Stock-Based Compensation - Su42

Stock-Based Compensation - Summary of Stock-Based Compensation Grants (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2016shares
Performance Based Restricted Stock Unit Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Awards Granted	41,601
Performance Based Restricted Stock Unit Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Awards Granted	3,324

Stock-Based Compensation - Su43

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 861	$ 1,304	$ 3,806	$ 4,021
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		111	184	400
Time Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	368	750	1,847	2,245
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	450	432	1,680	1,320
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 43	$ 11	$ 95	$ 56

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Contingency [Line Items]
Effective tax rate			35.50%	37.20%
Income tax expense	$ 3,591	$ 2,544	$ 29,510	$ 23,657
Effective income tax rate reconciliation, percentage				1.30%
Effective income tax rate reconciliation, tax credit federal research and development percentage			0.40%
Valuation allowance	$ 4,600		$ 4,600
Excess tax benefits from stock-based awards			$ 1,700
Earliest Tax Year [Member] | Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2,012
Latest Tax Year [Member] | Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2,015

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)ft²	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Change in warranty reserve for disclosure purposes only	$ 3,500
Surface Flaking Warranty Reserve [Member]
Schedule Of Commitments And Contingencies [Line Items]
Increase in warranty reserve	9,835	$ 5,426
Change in annual cashout flow for surface flaking claims declined	$ 1,100		$ 1,700
Change in percentage of annual cashout flow for surface flaking claims declined	21.00%		19.00%
Percentage change in warranty claims used as a threshold for disclosure	10.00%
Residential Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Commercial Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	10 years
Transcend, Enhance, Select and Universal Fascia Product [Member] | Residential Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Transcend, Enhance, Select and Universal Fascia Product [Member] | Commercial Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	10 years
TrexTrim and Trex Reveal Railing [Member] | Residential Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
TrexTrim and Trex Reveal Railing [Member] | Commercial Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Sublease [Member]
Schedule Of Commitments And Contingencies [Line Items]
Net minimum receipts remaining under the Company's existing subleases for 2016	$ 300
Net minimum receipts remaining under the Company's existing subleases for 2017	1,300
Net minimum receipts remaining under the Company's existing subleases for 2018	1,300
Net minimum receipts remaining under the Company's existing subleases for 2019	$ 700
Contract Termination [Member]
Schedule Of Commitments And Contingencies [Line Items]
Lease square feet | ft²	55,047
Minimum payments remaining under the Company's lease relating to its reconsidered corporate relocation for 2016	$ 500
Minimum payments remaining under the Company's lease relating to its reconsidered corporate relocation for 2017	1,900
Minimum payments remaining under the Company's lease relating to its reconsidered corporate relocation for 2018	2,000
Minimum payments remaining under the Company's lease relating to its reconsidered corporate relocation for 2019	$ 1,000

Commitments and Contingencies46

Commitments and Contingencies - Summary of Liability Related to Lease (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Beginning balance	$ 2,106	$ 3,033
Net rental payments	(536)	(903)
Accretion of discount	113	173
(Derease) increase in net estimated contract termination costs	(85)	206
Ending balance	$ 1,598	$ 2,509

Commitments and Contingencies47

Commitments and Contingencies - Summary of Reconciliation of Company's Warranty Reserve for Surface Flaking Claims (Detail) - Surface Flaking Warranty Reserve [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Product Warranty Liability [Line Items]
Beginning balance	$ 29,673	$ 31,419
Changes in estimates related to pre-existing warranties	9,835	5,426
Settlements made during the period	(4,188)	(5,286)
Ending balance	$ 35,320	$ 31,559