Trex (TREX) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Cover [Abstract]
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001069878
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	TREX CO INC
Document Period End Date	Jun. 30, 2022
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Trading Symbol	TREX
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		110,263,432
Entity File Number	001-14649
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1910453
Entity Address, Address Line One	160 Exeter Drive
Entity Address, City or Town	Winchester
Entity Address, Postal Zip Code	22603-8605
Entity Address, State or Province	VA
City Area Code	540
Local Phone Number	542-6300
Title of 12(b) Security	Common stock
Security Exchange Name	NYSE
Document Quarterly Report	true

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 386,249	$ 311,596	$ 725,477	$ 557,120
Cost of sales	228,872	193,323	433,188	343,046
Gross profit	157,377	118,273	292,289	214,074
Selling, general and administrative expenses	39,568	36,899	79,529	68,949
Gain on insurance proceeds		(983)		(1,720)
Income from operations	117,809	82,357	212,760	146,845
Interest (income) expense, net	(116)	13	(104)	10
Income before income taxes	117,925	82,344	212,864	146,835
Provision for income taxes	29,009	20,978	52,737	36,925
Net income	$ 88,916	$ 61,366	$ 160,127	$ 109,910
Basic earnings per common share	$ 0.79	$ 0.53	$ 1.41	$ 0.95
Basic weighted average common shares outstanding	113,099,561	115,362,757	113,864,741	115,512,231
Diluted earnings per common share	$ 0.79	$ 0.53	$ 1.4	$ 0.95
Diluted weighted average common shares outstanding	113,259,514	115,662,626	114,052,447	115,839,183
Comprehensive income	$ 88,916	$ 61,366	$ 160,127	$ 109,910

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 16,648	$ 141,053
Accounts receivable, net	178,084	151,096
Inventories	100,872	83,753
Prepaid expenses and other assets	23,645	25,152
Total current assets	319,249	401,054
Property, plant and equipment, net	505,395	460,365
Operating lease assets	36,250	34,571
Goodwill and other intangible assets, net	18,791	19,001
Other assets	7,609	5,330
Total assets	887,294	920,321
Current liabilities:
Accounts payable	57,825	24,861
Accrued expenses and other liabilities	74,698	58,041
Accrued warranty	6,300	5,800
Total current liabilities	138,823	88,702
Deferred income taxes	43,967	43,967
Operating lease liabilities	29,239	28,263
Non-current accrued warranty	22,230	22,795
Other long-term liabilities	11,560	11,560
Total liabilities	245,819	195,287
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 3,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value, 360,000,000 shares authorized; 140,798,762 and 140,734,753 shares issued and 111,563,381 and 115,148,152 shares outstanding at June 30, 2022 and December 31, 2021, respectively	1,408	1,407
Additional paid-in capital	129,109	127,787
Retained earnings	1,106,175	946,048
Treasury stock, at cost, 29,235,381 and 25,586,601 shares at June 30, 2022 and December 31, 2021, respectively	(595,217)	(350,208)
Total stockholders' equity	641,475	725,034
Total liabilities and stockholders' equity	$ 887,294	$ 920,321

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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	360,000,000	360,000,000
Common stock, shares issued	140,798,762	140,734,753
Common stock, shares outstanding	111,563,381	115,148,152
Treasury stock, shares	29,235,381	25,586,601

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Deficit) [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2020	$ 588,531	$ 1,406	$ 126,087	$ 737,311	$ (276,273)
Beginning Balance, Shares at Dec. 31, 2020		115,799,503			24,777,502
Net income	48,545			48,545
Employee stock plans	460		460
Employee stock plans, Shares		28,286
Shares withheld for taxes on awards	(4,045)		(4,045)
Shares withheld for taxes on awards, Shares		(38,212)
Stock-based compensation	2,176		2,176
Stock-based compensation, Shares		76,094
Repurchases of common stock	(45,523)				$ (45,523)
Repurchases of common stock, Shares		(504,275)			504,275
Ending Balance at Mar. 31, 2021	590,143	$ 1,406	124,678	785,855	$ (321,796)
Ending Balance, Shares at Mar. 31, 2021		115,361,396			25,281,777
Beginning Balance at Dec. 31, 2020	588,531	$ 1,406	126,087	737,311	$ (276,273)
Beginning Balance, Shares at Dec. 31, 2020		115,799,503			24,777,502
Net income	109,910
Ending Balance at Jun. 30, 2021	648,776	$ 1,407	125,764	847,221	$ (325,616)
Ending Balance, Shares at Jun. 30, 2021		115,344,705			25,322,528
Beginning Balance at Mar. 31, 2021	590,143	$ 1,406	124,678	785,855	$ (321,796)
Beginning Balance, Shares at Mar. 31, 2021		115,361,396			25,281,777
Net income	61,366			61,366
Employee stock plans	400		400
Employee stock plans, Shares		20,341
Shares withheld for taxes on awards	(1,446)		(1,446)
Shares withheld for taxes on awards, Shares		(13,491)
Stock-based compensation	2,133	$ 1	2,132
Stock-based compensation, Shares		17,210
Repurchases of common stock	(3,820)				$ (3,820)
Repurchases of common stock, Shares		(40,751)			40,751
Ending Balance at Jun. 30, 2021	648,776	$ 1,407	125,764	847,221	$ (325,616)
Ending Balance, Shares at Jun. 30, 2021		115,344,705			25,322,528
Beginning Balance at Dec. 31, 2021	725,034	$ 1,407	127,787	946,048	$ (350,208)
Beginning Balance, Shares at Dec. 31, 2021		115,148,152			25,586,601
Net income	71,211			71,211
Employee stock plans	523		523
Employee stock plans, Shares		9,081
Shares withheld for taxes on awards	(2,912)		(2,912)
Shares withheld for taxes on awards, Shares		(35,856)
Stock-based compensation	2,226	$ 1	2,225
Stock-based compensation, Shares		79,926
Repurchases of common stock	(75,017)				$ (75,017)
Repurchases of common stock, Shares		(833,963)			833,963
Ending Balance at Mar. 31, 2022	721,065	$ 1,408	127,623	1,017,259	$ (425,225)
Ending Balance, Shares at Mar. 31, 2022		114,367,340			26,420,564
Beginning Balance at Dec. 31, 2021	725,034	$ 1,407	127,787	946,048	$ (350,208)
Beginning Balance, Shares at Dec. 31, 2021		115,148,152			25,586,601
Net income	160,127
Ending Balance at Jun. 30, 2022	641,475	$ 1,408	129,109	1,106,175	$ (595,217)
Ending Balance, Shares at Jun. 30, 2022		111,563,381			29,235,381
Beginning Balance at Mar. 31, 2022	721,065	$ 1,408	127,623	1,017,259	$ (425,225)
Beginning Balance, Shares at Mar. 31, 2022		114,367,340			26,420,564
Net income	88,916			88,916
Employee stock plans	429		429
Employee stock plans, Shares		8,834
Stock-based compensation	1,057		1,057
Stock-based compensation, Shares		2,024
Repurchases of common stock	(169,992)				$ (169,992)
Repurchases of common stock, Shares		(2,814,817)			2,814,817
Ending Balance at Jun. 30, 2022	$ 641,475	$ 1,408	$ 129,109	$ 1,106,175	$ (595,217)
Ending Balance, Shares at Jun. 30, 2022		111,563,381			29,235,381

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities
Net income	$ 160,127	$ 109,910
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	21,804	15,702
Stock-based compensation	3,282	4,308
Gain on disposal of property, plant and equipment	(43)	(1,083)
Other non-cash adjustments	(365)	(226)
Changes in operating assets and liabilities:
Accounts receivable	(26,988)	(157,117)
Inventories	(17,119)	(8,994)
Prepaid expenses and other assets	949	(6,878)
Accounts payable	32,943	14,907
Accrued expenses and other liabilities	13,175	10,763
Income taxes receivable/payable	2,227	466
Net cash provided by (used in) operating activities	189,992	(18,242)
Investing Activities
Expenditures for property, plant and equipment	(66,606)	(94,831)
Proceeds from sales of property, plant and equipment	45	1,314
Net cash used in investing activities	(66,561)	(93,517)
Financing Activities
Borrowings under line of credit		286,000
Principal payments under line of credit		(236,500)
Repurchases of common stock	(247,921)	(54,832)
Proceeds from employee stock purchase and option plans	951	860
Financing costs	(866)
Net cash used in financing activities	(247,836)	(4,472)
Net decrease in cash and cash equivalents	(124,405)	(116,231)
Cash and cash equivalents, beginning of period	141,053	121,701
Cash and cash equivalents, end of period	16,648	5,470
Supplemental Disclosure:
Cash paid for interest, net of capitalized interest	0	0
Cash paid for income taxes, net	$ 48,915	$ 36,457

Business and Organization

Business and Organization	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	1. BUSINESS AND ORGANIZATION Trex Company, Inc. (Trex), a Delaware corporation, was incorporated on September 4, 1998. Together, Trex and its wholly-owned subsidiary, Trex Commercial Products, Inc., are referred to as the Company. The Company operates in two reportable segments, Trex Residential Products (Trex Residential) and Trex Commercial Products (Trex Commercial). Trex Residential, the Company’s principal business based on net sales, is the world’s largest manufacturer of high-performance, low-maintenance ® than (540) 542-6300.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
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 S-X The unaudited consolidated results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2022. The Company’s results of operations are affected by a number of factors, including, but not limited to, the cost to manufacture and distribute products, cost of raw materials, inflation, consumer spending and preferences, interest rates, the impact of any supply chain disruptions, economic conditions, and/or any adverse effects from the COVID-19 These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2021 and 2020 and for each of the three years in the period ended December 31, 2021 included in the Annual Report of Trex Company, Inc. on Form 10-K,

Recently Adopted Accounting Sta

Recently Adopted Accounting Standards	6 Months Ended
	Jun. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Recently Adopted Accounting Standards	3. RECENTLY ADOPTED ACCOUNTING STANDARDS In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance 958-605.

New Accounting Standards Not Ye

New Accounting Standards Not Yet Adopted	6 Months Ended
	Jun. 30, 2022
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards Not Yet Adopted	4. NEW ACCOUNTING STANDARDS NOT YET ADOPTED In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	5. INVENTORIES Inventories valued at LIFO (last-in, first-out), June 30, December 31, Finished goods $ 62,271 $ 58,401 Raw materials 67,857 56,441 Total FIFO (first-in, first-out) 130,128 114,842 Reserve to adjust inventories to LIFO value (36,467 ) (36,467 ) Total LIFO inventories $ 93,661 $ 78,375 The Company utilizes the LIFO method of accounting related to its Trex Residential wood-alternative decking and residential railing products, 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 year-end year-end Inventories valued at lower of cost (FIFO method) and net realizable value were $7.2 million at, June 30, 2022 and $5.4 million at December 31, 2021, consisting primarily of raw materials. The Company utilizes the FIFO method of accounting related to its Trex Commercial products.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 2022
Text Block [Abstract]
Prepaid Expenses and Other Assets	6. PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other assets consist of the following (in thousands): June 30, 2022 December 31, Prepaid expenses $ 14,373 $ 15,061 Revenues in excess of billings 7,905 9,109 Income tax receivable 894 406 Other 473 576 Total prepaid expenses and other assets $ 23,645 $ 25,152

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	7. GOODWILL AND OTHER INTANGIBLE ASSETS, NET The carrying amount of goodwill by reportable segment at June 30, 2022 and December 31, 2021 was $14.2 million for Trex Residential. The Company’s intangible assets consist of domain names. At June 30, 2022 and December 31, 2021, intangible assets were $6.3 million and accumulated amortization was $1.7 million and $1.5 million, respectively. Intangible asset amounts were determined based on the estimated economics of the asset and are amortized over the estimated useful lives on a straight-line basis over 15 years, which approximates the pattern in which the economic benefits are expected to be received. The Company evaluates the recoverability of intangible assets periodically and considers events or circumstances that may warrant revised estimates of useful lives or that may indicate an impairment. Intangible asset amortization expense for the six months ended June 30, 2022 and June 30, 2021 was $0.2 million and $0.2 million, respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	8. ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following (in thousands): June 30, 2022 December 31, Sales and marketing $ 38,945 $ 16,439 Compensation and benefits 15,741 25,450 Operating lease liabilities 7,646 7,066 Manufacturing costs 3,923 4,110 Income taxes 2,715 — Billings in excess of revenues 1,535 1,436 Other 4,193 3,540 Total accrued expenses and other liabilities $ 74,698 $ 58,041

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	9. DEBT Revolving Credit Facility Indebtedness on and after May 18, 2022 Under the Credit Agreement, the Lenders agreed to provide the Company with one or more Revolving Loans in a collective maximum principal amount of $400,000,000 (Loan Limit) throughout the term, which ends May 18, 2027 (Term). Included within the Loan Limit are sublimits for a Letter of Credit facility in an amount not to exceed $60,000,000; and Swing Line Loans in an aggregate principal amount at any time outstanding not to exceed $20,000,000. The Revolving Loans, the Letter of Credit facility and the Swing Line Loans are for the purpose of raising working capital and supporting general business operations. The Facility provide s The Company and BofA Securities, Inc. as a sustainability coordinator, are entitled to establish specified key performance indicators (KPIs) with respect to certain environmental, social and governance targets of the Company and its subsidiaries. The sustainability coordinator and the Company may amend the Credit Agreement for the purpose of incorporating the KPIs and other related provisions, unless the Lenders object to such amendment on or prior to the date that is ten business days Under the terms of the Security and Pledge Agreement, the Company and TCP, subject to certain permitted encumbrances, as collateral security for the above-stated loans and all other present and future indebtedness of the Company owing to the Lenders grants to BOA, as Administrative Agent for the Lenders, a continuing security interest in certain collateral described and defined in the Security and Pledge Agreement but excluding the Excluded Property (as defined in the Security and Pledge Agreement). Indebtedness prior to May 18, 2022 On May 26, 2020, the Company entered into a First Amendment to the Original Credit Agreement (the First Amendment) to provide for an additional $100 million line of credit through May 26, 2022. As a matter of convenience, the parties incorporated the amendments to the Original Credit Agreement made by the First Amendment into a new Fourth Amended and Restated Credit Agreement (New Credit Agreement). In the New Credit Agreement, the revolving commitments under the Original Credit Agreement are referred to as Revolving A Commitments and the new $100 million line of credit is referred to as Revolving B Commitments. In the New Credit Agreement, all of the material terms and conditions related to the original line of credit (Revolving A Commitments) remained unchanged from the Original Credit Agreement. The Company’s revolving credit facility executed November 5, 2019 was completely replaced by the Company’s revolving credit facility executed May 18, 2022. The Company had no outstanding borrowings under its revolving credit facility and available borrowing capacity of $400 million at June 30, 2022. Compliance with Debt Covenants and Restrictions Pursuant to the terms of the Credit Agreement, the Company is subject to certain loan compliance covenants. The Company was in compliance with all covenants as of June 30, 2022. Failure to comply with the financial covenants could be considered a default of repayment obligations and, among other remedies, could accelerate payment of any amounts outstanding.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	10. LEASES The Company leases office space, storage warehouses and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of less than 1 year to 7 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. For the six months ended June 30, 2022 and June 30, 2021, total operating lease expense was $4.2 million and $4.1 million, respectively. The weighted average remaining lease term at June 30, 2022 and December 31, 2021 was 5.7 years and 5.8 years, respectively. The weighted average discount rate at June 30, 2022 and December 31, 2021 was 2.18% and 2.47%, respectively. The following table includes supplemental cash flow information for the six months ended June 30, 2022 and June 30, 2021 and supplemental balance sheet information at June 30, 2022 and December 31, 2021 related to operating leases (in thousands): Six Months Ended June 30, Supplemental cash flow information 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 4,334 $ 4,131 Operating ROU assets obtained in exchange for lease liabilities $ 6,714 $ 7,047 Supplemental balance sheet information June 30, 2022 December 31, Operating lease ROU assets $ 36,250 $ 34,571 Operating lease liabilities: Accrued expenses and other current liabilities $ 7,646 $ 7,066 Operating lease liabilities 29,239 28,263 Total operating lease liabilities $ 36,885 $ 35,329 The following table summarizes maturities of operating lease liabilities at June 30, 2022 (in thousands): Maturities of operating lease liabilities 2022 $ 4,273 2023 7,612 2024 6,799 2025 5,463 2026 4,886 Thereafter 10,156 Total lease payments 39,189 Less imputed interest (2,304 ) Total operating lease liabilities $ 36,885

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2022
Investments, All Other Investments [Abstract]
Financial Instruments	11. 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, other current liabilities, and debt to approximate the fair value of the respective assets and liabilities on the Condensed Consolidated Balance Sheets at June 30, 2022 and December 31, 2021.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	12. 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator: Net income available to common shareholders $ 88,916 $ 61,366 $ 160,127 $ 109,910 Denominator: Basic weighted average shares outstanding 113,099,561 115,362,757 113,864,741 115,512,231 Effect of dilutive securities: Stock appreciation rights and options 96,179 193,466 110,253 200,263 Restricted stock 63,774 106,403 77,453 126,689 Diluted weighted average shares outstanding 113,259,514 115,662,626 114,052,447 115,839,183 Basic earnings per share $ 0.79 $ 0.53 $ 1.41 $ 0.95 Diluted earnings per share $ 0.79 $ 0.53 $ 1.40 $ 0.95 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 Six Months Ended 2022 2021 2022 2021 Stock appreciation rights 47,303 15,029 38,789 11,105 Restricted stock 63,131 — 38,823 11,540 Stock Repurchase Program On February 16, 2018, the Trex Board of Directors adopted a stock repurchase program of up to 11.6 million shares of its outstanding common stock (Stock Repurchase Program). As of June 30, 2022, Trex has repurchased 7.3 million shares of its outstanding common stock under the Stock Repurchase Program. First Certificate of Amendment to the Restated Certificate of Incorporation At the annual meeting of stockholders of Trex held on May 5, 2022, its stockholders approved an amendment of the Trex Restated Certificate of Incorporation (Amendment), effective as of May 5, 2022. The Board of Directors of Trex unanimously approved the Amendment on February 23, 2022, subject to stockholder approval. The Amendment increases the number of shares of common stock, par value $.01 per share, that Trex is authorized to issue from 180 million shares to 360 million shares. The Amendment was filed with the Delaware Secretary of State on May 5, 2022.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	13. REVENUE FROM CONTRACTS WITH CUSTOMERS Trex Residential Products Trex Residential principally generates revenue from the manufacture and sale of its high-performance, low-maintenance, eco-friendly Trex Commercial Products Trex Commercial generates revenue from the manufacture and sale of its modular and architectural railing and staging systems. All of its revenues are from fixed-price contracts with customers. Trex Commercial contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contract and is, therefore, not distinct. The transaction price allocated to remaining performance obligations on contracts with an original duration greater than one year was $36 million as of June 30, 2022. The Company will recognize this revenue as contracts are completed, which is expected to occur within the next 24 months. For the three months and six months ended June 30, 2022 and June 30, 2021, net sales were disaggregated in the following tables by (1) market, (2) timing of revenue recognition, and (3) type of contract. The tables also include a reconciliation of the respective disaggregated net sales with the Company’s reportable segments (in thousands).​​​​​​​ Three Months Ended June 30, 2022 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 373,922 $ — $ 373,922 Products transferred over time and fixed price contracts — 12,327 12,327 $ 373,922 $ 12,327 $ 386,249 Three Months Ended June 30, 2021 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 298,632 $ — $ 298,632 Products transferred over time and fixed price contracts — 12,964 12,964 $ 298,632 $ 12,964 $ 311,596 Six Months Ended June 30, 2022 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 701,117 $ — $ 701,117 Products transferred over time and fixed price contracts — 24,360 24,360 $ 701,117 $ 24,360 $ 725,477 Six Months Ended June 30, 2021 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 531,702 $ — $ 531,702 Products transferred over time and fixed price contracts — 25,418 25,418 $ 531,702 $ 25,418 $ 557,120

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	14. STOCK-BASED COMPENSATION The Company has one stock-based compensation plan, the 2014 Stock Incentive Plan (Plan), approved by Trex 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 Trex 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. The total aggregate number of shares of Trex common stock that may be issued under the Plan is 25,680,000 and as of June 30, 2022 The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2022: Stock Awards Granted Weighted-Average Per Share Time-based restricted stock units 39,001 $ 81.85 Performance-based restricted stock units (a) 72,152 $ 76.14 Stock appreciation rights 32,971 $ 82.01 (a) Includes 47,072 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2022, and adjustments of 8,160, 11,684, and 5,236 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2021, 2020, and 2019, respectively. The fair value of each SAR is estimated on the date of grant using a Black-Scholes option-pricing formula. For SARs issued in the six months ended June 30, 2022 and June 30, 2021 the data and assumptions shown in the following table were used: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Weighted-average fair value of grants $ 33.9 $ 51.84 Dividend yield 0 % 0 % Average risk-free interest rate 1.9 % 0.6 % Expected term (years) 5 5 Expected volatility 44.9 % 58.7 % 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. For the employee stock purchase plan, compensation expense is recognized related to the discount on purchases. Stock-based compensation expense is included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Comprehensive Income. The following table summarizes the Company’s stock-based compensation expense (in thousands):​​​​​​​ Three Months Ended Six Months Ended 2022 2021 2022 2021 Stock appreciation rights $ 196 $ 144 $ 350 $ 258 Time-based restricted stock and restricted stock units 959 754 1,806 1,441 Performance-based restricted stock and restricted stock units (151 ) 1,165 1,007 2,440 Employee stock purchase plan 53 69 119 169 Total stock-based compensation $ 1,057 $ 2,132 $ 3,282 $ 4,308 Total unrecognized compensation cost related to unvested awards as of June 30, 2022 was $10.4 million. The cost of these unvested awards is being recognized over the requisite vesting period of each award.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	15. INCOME TAXES The Company’s effective tax rate for the six months ended June 30, 2022 was 24.8% and was comparable to the effective tax rate for the six months ended June 30, 2021, of 25.1%, which resulted in income tax expense of $52.7 million and $36.9 million, respectively. During the six months ended June 30, 2022 and June 30, 2021, the Company realized $0.1 million and $1.2 million, respectively, of excess tax benefits from stock-based awards and recorded a corresponding benefit to income tax expense. 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 June 30, 2022, the Company maintains a valuation allowance of $2.2 million against deferred tax assets primarily related to state tax credits it estimates will expire before they are realized. 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 June 30, 2022, for certain tax jurisdictions tax years 2017 through 2021 remain subject to examination. The Company believes that adequate provisions have been made for all tax returns subject to examination. Sales made to foreign distributors are not taxable in any foreign jurisdiction as the Company does not have a taxable presence in any foreign jurisdiction.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	16. SEGMENT INFORMATION The Company operates in two reportable segments: • Trex Residential manufactures wood-alternative decking and residential railing and related products marketed under the brand name Trex ® • Trex Commercial designs, engineers, and markets modular and architectural railing and staging systems for the commercial and multi-family market, including sports stadiums and performing arts venues. Trex Commercial products are marketed to architects, specifiers, contractors, and others doing business within the commercial and multi-family market. The Company’s reportable segments have been determined in accordance with its internal management structure, which is organized based on residential and commercial sales activities. The Company evaluates performance of each segment primarily based on net sales and earnings before interest, income taxes, depreciation and amortization (EBITDA). The Company uses net sales to assess performance and allocate resources as this measure represents the amount of business the segment engaged in during a given period of time, is an indicator of market growth and acceptance of segment products, and represents the segment’s customers’ spending habits along with the amount of product the segment sells relative to its competitors. The Company uses EBITDA to assess performance and allocate resources because it believes that EBITDA facilitates performance comparison between the segments by eliminating interest, income taxes, and depreciation and amortization charges to income. The below segment data for the three months and six months ended June 30, 2022 and June 30, 2021 includes data for Trex Residential and Trex Commercial (in thousands): Segment Data: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net sales $ 373,922 $ 12,327 $ 386,249 $ 298,632 $ 12,964 $ 311,596 Net income (loss) $ 89,437 $ (521 ) $ 88,916 $ 61,089 $ 277 $ 61,366 EBITDA $ 129,550 $ (410 ) $ 129,140 $ 91,008 $ 627 $ 91,635 Depreciation and amortization $ 11,049 $ 282 $ 11,331 $ 9,020 $ 258 $ 9,278 Income tax expense (benefit) $ 29,180 $ (171 ) $ 29,009 $ 20,886 $ 92 $ 20,978 Capital expenditures $ 44,251 $ 67 $ 44,318 $ 36,514 $ 224 $ 36,738 Total assets $ 846,112 $ 41,182 $ 887,294 $ 807,713 $ 91,107 $ 898,820 Reconciliation of Net Income to EBITDA: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net income (loss) $ 89,437 $ (521 ) $ 88,916 $ 61,089 $ 277 $ 61,366 Interest (income) expense, net (116 ) — (116 ) 13 — 13 Income tax expense (benefit) 29,180 (171 ) 29,009 20,886 92 20,978 Depreciation and amortization 11,049 282 11,331 9,020 258 9,278 EBITDA $ 129,550 $ (410 ) $ 129,140 $ 91,008 $ 627 $ 91,635 Segment Data: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net sales $ 701,117 $ 24,360 $ 725,477 $ 531,702 $ 25,418 $ 557,120 Net income (loss) $ 161,652 $ (1,525 ) $ 160,127 $ 109,833 $ 77 $ 109,910 EBITDA $ 236,031 $ (1,466 ) $ 234,565 $ 161,973 $ 575 $ 162,548 Depreciation and amortization $ 21,240 $ 565 $ 21,805 $ 15,231 $ 472 $ 15,703 Income tax expense (benefit) $ 53,243 $ (506 ) $ 52,737 $ 36,899 $ 26 $ 36,925 Capital expenditures $ 66,534 $ 72 $ 66,606 $ 93,077 $ 1,754 $ 94,831 Total assets $ 846,112 $ 41,182 $ 887,294 $ 807,713 $ 91,107 $ 898,820 Reconciliation of Net Income to EBITDA: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net income (loss) $ 161,652 $ (1,525 ) $ 160,127 $ 109,833 $ 77 $ 109,910 Interest (income) expense, net (104 ) — (104 ) 10 — 10 Income tax expense (benefit) 53,243 (506 ) 52,737 36,899 26 36,925 Depreciation and amortization 21,240 565 21,805 15,231 472 15,703 EBITDA $ 236,031 $ (1,466 ) $ 234,565 $ 161,973 $ 575 $ 162,548

Seasonality

Seasonality	6 Months Ended
	Jun. 30, 2022
Text Block [Abstract]
Seasonality	17. SEASONALITY The operating results for Trex Residential have historically varied from quarter to quarter. Seasonal, erratic or prolonged adverse weather conditions in certain geographic regions reduce the level of home improvement and construction activity and can shift demand for its products to a later period. As part of its normal business practice and consistent with industry practice, Trex Residential has historically offered incentive programs to its distributors and dealers to build inventory levels before the start of the prime deck-building season in order to ensure adequate availability of its product to meet anticipated seasonal consumer demand. The seasonal effects are often offset by the positive effect of the incentive programs. The operating results for Trex Commercial have not historically varied from quarter to quarter as a result of seasonality. However, they are driven by the timing of individual projects, which may vary each quarterly period.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. COMMITMENTS AND CONTINGENCIES Product Warranty The Company warrants that its decking and residential railing products will be free from material defects in workmanship and materials for warranty periods ranging from 10 years to 25 years, depending on the product and its use. If there is a breach of such warranties, the Company has an obligation either to replace the defective product or refund the purchase price. Depending on the product and its use, the Company also warrants its Trex Commercial products will be free of manufacturing defects for one 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 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 incoming claims received in the six months ended June 30, 2022, was significantly lower than the number of claims received in the six months ended June 30, 2021 and lower than the Company’s expectations for 2022. Average cost per claim experienced in the six months ended June 30, 2022 was significantly higher than that experienced in the six months ended June 30, 2021 and higher than the Company’s expectations for the current year. The elevated average cost per claim experienced in the six months ended June 30, 2022, was primarily the result of the closure of two large claims, which were considered in the Company’s estimation of its surface flaking warranty reserve. The Company believes its reserve at June 30, 2022 is sufficient to cover future surface flaking obligations. 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 actual warranty liabilities to be higher or lower than those projected, which could materially affect the Company’s consolidated financial condition, results of operations or cash flows. The Company estimates that the annual number of claims received will decline over time and that the average cost per claim will increase. 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 an 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 $1.7 million change in the surface flaking warranty reserve. The following is a reconciliation of the Company’s residential product warranty reserve (in thousands): Six Months Ended June 30, 2022 Surface Other Total Beginning balance, January 1 $ 18,542 $ 10,053 $ 28,595 Provisions and changes in estimates — 2,369 2,369 Settlements made during the period (1,345 ) (1,089 ) (2,434 ) Ending balance, June 30 $ 17,197 $ 11,333 $ 28,530 Six Months Ended June 30, 2021 Surface Other Total Beginning balance, January 1 $ 21,325 $ 8,148 $ 29,473 Provisions and changes in estimates — 2,429 2,429 Settlements made during the period (1,536 ) (875 ) (2,411 ) Ending balance, June 30 $ 19,789 $ 9,702 $ 29,491 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. Arkansas Facility In October 2021, the Company announced plans to add a third U.S.-based Trex Residential manufacturing facility in Little Rock, Arkansas. The new campus will sit on approximately 300 acres of land and will address increased demand for Trex Residential outdoor living products. Construction began on the new facility in the second quarter of 2022, and in July 2022, the Company entered into a design-build agreement. As previously announced, the Company anticipates spending approximately $400 million on the facility and the budget for the design-build agreement is contained within this amount. Construction for the new facility will be funded primarily through the Company’s ongoing cash generation or its line of credit. The first production output is anticipated in 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Stock-Based Compensation	The Company has one stock-based compensation plan, the 2014 Stock Incentive Plan (Plan), approved by Trex 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 Trex 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. The total aggregate number of shares of Trex common stock that may be issued under the Plan is 25,680,000 and as of June 30, 2022

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories valued at LIFO (last-in, first-out), June 30, December 31, Finished goods $ 62,271 $ 58,401 Raw materials 67,857 56,441 Total FIFO (first-in, first-out) 130,128 114,842 Reserve to adjust inventories to LIFO value (36,467 ) (36,467 ) Total LIFO inventories $ 93,661 $ 78,375

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Text Block [Abstract]
Summary of Prepaid Expenses and Other Assets	Prepaid expenses and other assets consist of the following (in thousands): June 30, 2022 December 31, Prepaid expenses $ 14,373 $ 15,061 Revenues in excess of billings 7,905 9,109 Income tax receivable 894 406 Other 473 576 Total prepaid expenses and other assets $ 23,645 $ 25,152

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): June 30, 2022 December 31, Sales and marketing $ 38,945 $ 16,439 Compensation and benefits 15,741 25,450 Operating lease liabilities 7,646 7,066 Manufacturing costs 3,923 4,110 Income taxes 2,715 — Billings in excess of revenues 1,535 1,436 Other 4,193 3,540 Total accrued expenses and other liabilities $ 74,698 $ 58,041

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Supplemental Cash Flow information and Supplemental balance sheet information related to operating leases	The following table includes supplemental cash flow information for the six months ended June 30, 2022 and June 30, 2021 and supplemental balance sheet information at June 30, 2022 and December 31, 2021 related to operating leases (in thousands): Six Months Ended June 30, Supplemental cash flow information 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 4,334 $ 4,131 Operating ROU assets obtained in exchange for lease liabilities $ 6,714 $ 7,047 Supplemental balance sheet information June 30, 2022 December 31, Operating lease ROU assets $ 36,250 $ 34,571 Operating lease liabilities: Accrued expenses and other current liabilities $ 7,646 $ 7,066 Operating lease liabilities 29,239 28,263 Total operating lease liabilities $ 36,885 $ 35,329
Maturities of operating lease liabilities	The following table summarizes maturities of operating lease liabilities at June 30, 2022 (in thousands): Maturities of operating lease liabilities 2022 $ 4,273 2023 7,612 2024 6,799 2025 5,463 2026 4,886 Thereafter 10,156 Total lease payments 39,189 Less imputed interest (2,304 ) Total operating lease liabilities $ 36,885

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator: Net income available to common shareholders $ 88,916 $ 61,366 $ 160,127 $ 109,910 Denominator: Basic weighted average shares outstanding 113,099,561 115,362,757 113,864,741 115,512,231 Effect of dilutive securities: Stock appreciation rights and options 96,179 193,466 110,253 200,263 Restricted stock 63,774 106,403 77,453 126,689 Diluted weighted average shares outstanding 113,259,514 115,662,626 114,052,447 115,839,183 Basic earnings per share $ 0.79 $ 0.53 $ 1.41 $ 0.95 Diluted earnings per share $ 0.79 $ 0.53 $ 1.40 $ 0.95
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 Six Months Ended 2022 2021 2022 2021 Stock appreciation rights 47,303 15,029 38,789 11,105 Restricted stock 63,131 — 38,823 11,540

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Net Sales	The tables also include a reconciliation of the respective disaggregated net sales with the Company’s reportable segments (in thousands). Three Months Ended June 30, 2022 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 373,922 $ — $ 373,922 Products transferred over time and fixed price contracts — 12,327 12,327 $ 373,922 $ 12,327 $ 386,249 Three Months Ended June 30, 2021 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 298,632 $ — $ 298,632 Products transferred over time and fixed price contracts — 12,964 12,964 $ 298,632 $ 12,964 $ 311,596 Six Months Ended June 30, 2022 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 701,117 $ — $ 701,117 Products transferred over time and fixed price contracts — 24,360 24,360 $ 701,117 $ 24,360 $ 725,477 Six Months Ended June 30, 2021 Reportable Segment Trex Trex Total Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 531,702 $ — $ 531,702 Products transferred over time and fixed price contracts — 25,418 25,418 $ 531,702 $ 25,418 $ 557,120

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Summary of Stock-Based Compensation Grants	The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2022: Stock Awards Granted Weighted-Average Per Share Time-based restricted stock units 39,001 $ 81.85 Performance-based restricted stock units (a) 72,152 $ 76.14 Stock appreciation rights 32,971 $ 82.01 (a) Includes 47,072 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2022, and adjustments of 8,160, 11,684, and 5,236 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2021, 2020, and 2019, respectively.
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. For SARs issued in the six months ended June 30, 2022 and June 30, 2021 the data and assumptions shown in the following table were used: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Weighted-average fair value of grants $ 33.9 $ 51.84 Dividend yield 0 % 0 % Average risk-free interest rate 1.9 % 0.6 % Expected term (years) 5 5 Expected volatility 44.9 % 58.7 %
Summary of Stock-Based Compensation Expense	The following table summarizes the Company’s stock-based compensation expense (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Stock appreciation rights $ 196 $ 144 $ 350 $ 258 Time-based restricted stock and restricted stock units 959 754 1,806 1,441 Performance-based restricted stock and restricted stock units (151 ) 1,165 1,007 2,440 Employee stock purchase plan 53 69 119 169 Total stock-based compensation $ 1,057 $ 2,132 $ 3,282 $ 4,308

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Details of Segment Information	The below segment data for the three months and six months ended June 30, 2022 and June 30, 2021 includes data for Trex Residential and Trex Commercial (in thousands): Segment Data: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net sales $ 373,922 $ 12,327 $ 386,249 $ 298,632 $ 12,964 $ 311,596 Net income (loss) $ 89,437 $ (521 ) $ 88,916 $ 61,089 $ 277 $ 61,366 EBITDA $ 129,550 $ (410 ) $ 129,140 $ 91,008 $ 627 $ 91,635 Depreciation and amortization $ 11,049 $ 282 $ 11,331 $ 9,020 $ 258 $ 9,278 Income tax expense (benefit) $ 29,180 $ (171 ) $ 29,009 $ 20,886 $ 92 $ 20,978 Capital expenditures $ 44,251 $ 67 $ 44,318 $ 36,514 $ 224 $ 36,738 Total assets $ 846,112 $ 41,182 $ 887,294 $ 807,713 $ 91,107 $ 898,820 Segment Data: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net sales $ 701,117 $ 24,360 $ 725,477 $ 531,702 $ 25,418 $ 557,120 Net income (loss) $ 161,652 $ (1,525 ) $ 160,127 $ 109,833 $ 77 $ 109,910 EBITDA $ 236,031 $ (1,466 ) $ 234,565 $ 161,973 $ 575 $ 162,548 Depreciation and amortization $ 21,240 $ 565 $ 21,805 $ 15,231 $ 472 $ 15,703 Income tax expense (benefit) $ 53,243 $ (506 ) $ 52,737 $ 36,899 $ 26 $ 36,925 Capital expenditures $ 66,534 $ 72 $ 66,606 $ 93,077 $ 1,754 $ 94,831 Total assets $ 846,112 $ 41,182 $ 887,294 $ 807,713 $ 91,107 $ 898,820
Schedule of Reconciliation of Net Income to EBITDA	Reconciliation of Net Income to EBITDA: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net income (loss) $ 89,437 $ (521 ) $ 88,916 $ 61,089 $ 277 $ 61,366 Interest (income) expense, net (116 ) — (116 ) 13 — 13 Income tax expense (benefit) 29,180 (171 ) 29,009 20,886 92 20,978 Depreciation and amortization 11,049 282 11,331 9,020 258 9,278 EBITDA $ 129,550 $ (410 ) $ 129,140 $ 91,008 $ 627 $ 91,635 Reconciliation of Net Income to EBITDA: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Trex Residential Trex Total Trex Trex Total Net income (loss) $ 161,652 $ (1,525 ) $ 160,127 $ 109,833 $ 77 $ 109,910 Interest (income) expense, net (104 ) — (104 ) 10 — 10 Income tax expense (benefit) 53,243 (506 ) 52,737 36,899 26 36,925 Depreciation and amortization 21,240 565 21,805 15,231 472 15,703 EBITDA $ 236,031 $ (1,466 ) $ 234,565 $ 161,973 $ 575 $ 162,548

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of Reconciliation of Company's Residential Product Warranty Reserve	The following is a reconciliation of the Company’s residential product warranty reserve (in thousands): Six Months Ended June 30, 2022 Surface Other Total Beginning balance, January 1 $ 18,542 $ 10,053 $ 28,595 Provisions and changes in estimates — 2,369 2,369 Settlements made during the period (1,345 ) (1,089 ) (2,434 ) Ending balance, June 30 $ 17,197 $ 11,333 $ 28,530 Six Months Ended June 30, 2021 Surface Other Total Beginning balance, January 1 $ 21,325 $ 8,148 $ 29,473 Provisions and changes in estimates — 2,429 2,429 Settlements made during the period (1,536 ) (875 ) (2,411 ) Ending balance, June 30 $ 19,789 $ 9,702 $ 29,491

Business and Organization - Add

Business and Organization - Additional Information (Detail) - Segment	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accounting Policies [Abstract]
Number of reportable segments	2	2

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 62,271	$ 58,401
Raw materials	67,857	56,441
Total FIFO (first-in, first-out) inventories	130,128	114,842
Reserve to adjust inventories to LIFO value	(36,467)	(36,467)
Total LIFO inventories	$ 93,661	$ 78,375

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
LIFO inventory liquidations	$ 0
Raw materials	$ 7,200,000	$ 5,400,000

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets - Summary of Prepaid Expenses and Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses	$ 14,373	$ 15,061
Revenues in excess of billings	7,905	9,109
Income tax receivable	894	406
Other	473	576
Total prepaid expenses and other assets	$ 23,645	$ 25,152

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Goodwill [Line Items]
Amortization of intangible asset	$ 0.2	$ 0.2
Intangible Assets	6.3		$ 6.3
Accumulated Amortization	1.7		1.5
Residential [Member]
Goodwill [Line Items]
Goodwill	$ 14.2		$ 14.2
Domain Names [Member]
Goodwill [Line Items]
Amortization period	15 years

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Sales and marketing	$ 38,945	$ 16,439
Compensation and benefits	15,741	25,450
Operating lease liabilities	7,646	7,066
Manufacturing costs	3,923	4,110
Income taxes	2,715	0
Billings in excess of revenues	1,535	1,436
Other	4,193	3,540
Total accrued expenses and other liabilities	$ 74,698	$ 58,041

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	May 18, 2022	May 26, 2020
Line of Credit Facility [Line Items]
Outstanding borrowing capacity	$ 0
Remaining available borrowing capacity	$ 400,000,000
Termination date of the Credit Agreement	Nov. 05, 2024
Revolver Loans Portion Effective January 1 through June 30 [Member] | Fourth 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 July 1 through December 31 [Member] | Fourth Amended And Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount	$ 200,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount			$ 100,000,000
Revolving Credit Facility [Member] | Fifth Amendment And Restated Agreement [Member]
Line of Credit Facility [Line Items]
Termination date of the Credit Agreement	May 18, 2027
Revolving loans in a collective maximum principal amount		$ 400,000,000
Number Of Business Days Within Which Lender May Raise Objections To Amendment	10 days
Revolving Credit Facility [Member] | Fifth Amendment And Restated Agreement [Member] | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount		60,000,000
Revolving Credit Facility [Member] | Fifth Amendment And Restated Agreement [Member] | Swingline Letter Of Credit [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount		$ 20,000,000
Revolving Credit Facility [Member] | Base Rate [Member] | Fifth Amendment And Restated Agreement [Member]
Line of Credit Facility [Line Items]
Interest rate	0.50%
Debt instrument, description of variable rate basis	the Federal Funds Rate plus 0.50%
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Fifth Amendment And Restated Agreement [Member]
Line of Credit Facility [Line Items]
Interest rate	1%
Debt instrument, description of variable rate basis	the Term SOFR plus 1.0%

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Weighted average discount rate	2.18%		2.47%
Operating lease cost	$ 4.2	$ 4.1
Weighted average remaining lease term	5 years 8 months 12 days		5 years 9 months 18 days
Minimum [Member]
Operating Lease terms	1 year
Maximum [Member]
Operating Lease terms	7 years

Leases - Supplemental Cash flow

Leases - Supplemental Cash flow Information to operating leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Supplemental cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities	$ 4,334	$ 4,131
Operating ROU assets obtained in exchange for lease liabilities	6,714	$ 7,047
Supplemental balance sheet information
Operating lease ROU assets	36,250		$ 34,571
Operating lease liabilities:
Accrued expenses and other current liabilities	7,646		7,066
Operating lease liabilities	29,239		28,263
Total operating lease liabilities	$ 36,885		$ 35,329

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Operating Lease Liabilities, Payments Due [Abstract]
2022	$ 4,273
2023	7,612
2024	6,799
2025	5,463
2026	4,886
Thereafter	10,156
Total lease payments	39,189
Less imputed interest	(2,304)
Total operating lease liabilities	$ 36,885	$ 35,329

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2022	May 05, 2022	Dec. 31, 2021	Mar. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized	360,000,000	360,000,000	360,000,000	180,000,000
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Stock Repurchase Programs [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized shares	11,600,000
Number of shares repurchased by the Company	7,300,000

Stockholders' Equity - Computat

Stockholders' Equity - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income	$ 88,916	$ 71,211	$ 61,366	$ 48,545	$ 160,127	$ 109,910
Denominator:
Basic weighted average shares outstanding	113,099,561		115,362,757		113,864,741	115,512,231
Effect of dilutive securities:
Diluted weighted average shares outstanding	113,259,514		115,662,626		114,052,447	115,839,183
Basic earnings per share	$ 0.79		$ 0.53		$ 1.41	$ 0.95
Diluted earnings per share	$ 0.79		$ 0.53		$ 1.4	$ 0.95
Stock appreciation rights [Member]
Effect of dilutive securities:
Dilutive securities	96,179		193,466		110,253	200,263
Restricted stock [Member]
Effect of dilutive securities:
Dilutive securities	63,774		106,403		77,453	126,689

Stockholders' Equity - Antidilu

Stockholders' Equity - Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share	63,131	0	38,823	11,540
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	47,303	15,029	38,789	11,105

Revenue From Contracts With C_3

Revenue From Contracts With Customers - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 36
Revenue remaining performance obligation description	greater than one year

Revenue From Contracts With C_4

Revenue From Contracts With Customers - Summary of Disaggregated Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 386,249	$ 311,596	$ 725,477	$ 557,120
Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	373,922	298,632	701,117	531,702
Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	12,327	12,964	24,360	25,418
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	373,922	298,632	701,117	531,702
Residential [Member] | Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	373,922	298,632	701,117	531,702
Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	12,327	12,964	24,360	25,418
Commercial [Member] | Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 12,327	$ 12,964	$ 24,360	$ 25,418

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested awards	$ 10.4
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	25,680,000
Number of common stock available for future issuance	11,070,560
Performance-Based Restricted Stock and Performance-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or rights issued		47,072
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
Number of shares or rights issued	32,971
Performance Based Restricted Stock Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or rights issued			8,160	11,684	5,236

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Grants (Detail)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Time Based Restricted Stock Units [Member]
Stock Awards Granted | shares	39,001
Weighted-Average Grant Price Per Share | $ / shares	$ 81.85
Performance Based Restricted Stock Units [Member]
Stock Awards Granted | shares	72,152
Weighted-Average Grant Price Per Share | $ / shares	$ 76.14
Stock Appreciation Rights [Member]
Stock Awards Granted | shares	32,971
Weighted-Average Grant Price Per Share | $ / shares	$ 82.01

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Assumptions Used to Estimate Fair Value of Each SAR (Detail) - Stock Appreciation Rights [Member] - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions and Methodology [Line Items]
Weighted-average fair value of grants	$ 33.9	$ 51.84
Dividend yield	0%	0%
Average risk-free interest rate	1.90%	0.60%
Expected term (years)	5 years	5 years
Expected volatility	44.90%	58.70%

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,057	$ 2,132	$ 3,282	$ 4,308
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	196	144	350	258
Time-Based Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	959	754	1,806	1,441
Performance-Based Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	(151)	1,165	1,007	2,440
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 53	$ 69	$ 119	$ 169

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Contingency [Line Items]
Valuation allowance	$ 2,200,000		$ 2,200,000
Income tax expense (benefit)	$ 29,009,000	$ 20,978,000	$ 52,737,000	$ 36,925,000
Effective tax rate			24.80%	25.10%
Excess tax benefits from stock based awards			$ 100	$ 1,200
Earliest Tax Year [Member] | Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2017
Latest Tax Year [Member] | Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2021

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Number of reportable segment	2	2

Segment Information - Details o

Segment Information - Details of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 386,249		$ 311,596		$ 725,477	$ 557,120
Net income (loss)	88,916	$ 71,211	61,366	$ 48,545	160,127	109,910
Depreciation and amortization					21,804	15,702
Income tax expense (benefit)	29,009		20,978		52,737	36,925
Total assets	887,294				887,294		$ 920,321
Residential [Member]
Segment Reporting Information [Line Items]
Net sales	373,922		298,632		701,117	531,702
Net income (loss)			61,089			109,833
EBITDA			91,008			161,973
Depreciation and amortization			9,020			15,231
Income tax expense (benefit)			20,886			36,899
Commercial [Member]
Segment Reporting Information [Line Items]
Net sales	12,327		12,964		24,360	25,418
Net income (loss)			277			77
EBITDA			627			575
Depreciation and amortization			258			472
Income tax expense (benefit)			92			26
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	386,249		311,596		725,477	557,120
Net income (loss)	88,916		61,366		160,127	109,910
EBITDA	129,140		91,635		234,565	162,548
Depreciation and amortization	11,331		9,278		21,805	15,703
Income tax expense (benefit)	29,009		20,978		52,737	36,925
Capital expenditures	44,318		36,738		66,606	94,831
Total assets	887,294		898,820	898,820	887,294	898,820
Operating Segments [Member] | Residential [Member]
Segment Reporting Information [Line Items]
Net sales	373,922		298,632		701,117	531,702
Net income (loss)	89,437		61,089		161,652	109,833
EBITDA	129,550		91,008		236,031	161,973
Depreciation and amortization	11,049		9,020		21,240	15,231
Income tax expense (benefit)	29,180		20,886		53,243	36,899
Capital expenditures	44,251		36,514		66,534	93,077
Total assets	846,112		807,713	807,713	846,112	807,713
Operating Segments [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Net sales	12,327		12,964		24,360	25,418
Net income (loss)	(521)		277		(1,525)	77
EBITDA	(410)		627		(1,466)	575
Depreciation and amortization	282		258		565	472
Income tax expense (benefit)	(171)		92		(506)	26
Capital expenditures	67		224		72	1,754
Total assets	$ 41,182		$ 91,107	$ 91,107	$ 41,182	$ 91,107

Segment Information - Schedule

Segment Information - Schedule of Reconciliation of Net Income to EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net income (loss)	$ 88,916	$ 71,211	$ 61,366	$ 48,545	$ 160,127	$ 109,910
Interest (income) expense, net	116		(13)		104	(10)
Income tax expense (benefit)	29,009		20,978		52,737	36,925
Depreciation and amortization					21,804	15,702
Residential [Member]
Segment Reporting Information [Line Items]
Net income (loss)			61,089			109,833
Interest (income) expense, net			13			10
Income tax expense (benefit)			20,886			36,899
Depreciation and amortization			9,020			15,231
EBITDA			91,008			161,973
Commercial [Member]
Segment Reporting Information [Line Items]
Net income (loss)			277			77
Income tax expense (benefit)			92			26
Depreciation and amortization			258			472
EBITDA			627			575
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income (loss)	88,916		61,366		160,127	109,910
Interest (income) expense, net	(116)		13		(104)	10
Income tax expense (benefit)	29,009		20,978		52,737	36,925
Depreciation and amortization	11,331		9,278		21,805	15,703
EBITDA	129,140		91,635		234,565	162,548
Operating Segments [Member] | Residential [Member]
Segment Reporting Information [Line Items]
Net income (loss)	89,437		61,089		161,652	109,833
Interest (income) expense, net	(116)				(104)
Income tax expense (benefit)	29,180		20,886		53,243	36,899
Depreciation and amortization	11,049		9,020		21,240	15,231
EBITDA	129,550		91,008		236,031	161,973
Operating Segments [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Net income (loss)	(521)		277		(1,525)	77
Income tax expense (benefit)	(171)		92		(506)	26
Depreciation and amortization	282		258		565	472
EBITDA	$ (410)		$ 627		$ (1,466)	$ 575

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)	Oct. 31, 2021 USD ($) a
Schedule Of Commitments And Contingencies [Line Items]
Change in warranty reserve for disclosure purposes only	$ 1.7
Area of Land | a		300
Residential Portfolio Segment [Member]
Schedule Of Commitments And Contingencies [Line Items]
Land and Land Improvements		$ 400
Minimum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	10 years
Maximum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Surface Flaking Warranty Reserve [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage change in warranty claims used as a threshold for disclosure	10%
Commercial Railing And Staging Systems [Member] | Commercial Use [Member] | Minimum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	1 year
Commercial Railing And Staging Systems [Member] | Commercial Use [Member] | Maximum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	3 years

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Reconciliation of Company's Residential Product Warranty Reserve (Detail) - Surface Flaking Warranty Reserve [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Product Warranty Liability [Line Items]
Beginning balance	$ 28,595	$ 29,473
Provisions and changes in estimates	2,369	2,429
Settlements made during the period	(2,434)	(2,411)
Ending balance	28,530	29,491
Surface Flaking [Member]
Product Warranty Liability [Line Items]
Beginning balance	18,542	21,325
Settlements made during the period	(1,345)	(1,536)
Ending balance	17,197	19,789
Other Residential [Member]
Product Warranty Liability [Line Items]
Beginning balance	10,053	8,148
Provisions and changes in estimates	2,369	2,429
Settlements made during the period	(1,089)	(875)
Ending balance	$ 11,333	$ 9,702