Trex (TREX) 10-Q 31 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 17, 2023
Cover [Abstract]
Amendment Flag	false
Document Fiscal Year Focus	2023
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, 2023
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		108,563,043
Entity File Number	001-14649
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1910453
Entity Address, Address Line One	2500 Trex Way
Entity Address, City or Town	Winchester
Entity Address, Postal Zip Code	22601
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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 356,538	$ 386,249	$ 595,256	$ 725,477
Cost of sales	200,090	228,872	344,380	433,188
Gross profit	156,448	157,377	250,876	292,289
Selling, general and administrative expenses	51,681	39,568	89,162	79,529
Income from operations	104,767	117,809	161,714	212,760
Interest expense (income), net	1,305	(116)	3,289	(104)
Income before income taxes	103,462	117,925	158,425	212,864
Provision for income taxes	26,426	29,009	40,258	52,737
Net income	$ 77,036	$ 88,916	$ 118,167	$ 160,127
Basic earnings per common share	$ 0.71	$ 0.79	$ 1.09	$ 1.41
Basic weighted average common shares outstanding	108,770,204	113,099,561	108,771,077	113,864,741
Diluted earnings per common share	$ 0.71	$ 0.79	$ 1.09	$ 1.4
Diluted weighted average common shares outstanding	108,871,440	113,259,514	108,893,848	114,052,447
Comprehensive income	$ 77,036	$ 88,916	$ 118,167	$ 160,127

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 4,226	$ 12,325
Accounts receivable, net	266,808	98,057
Inventories	74,007	141,355
Prepaid expenses and other assets	24,403	35,105
Total current assets	369,444	286,842
Property, plant and equipment, net	645,656	589,892
Operating lease assets	29,099	30,991
Goodwill and other intangible assets, net	18,372	18,582
Other assets	7,244	7,398
Total assets	1,069,815	933,705
Current liabilities
Accounts payable	32,228	19,935
Accrued expenses and other liabilities	79,803	44,064
Accrued warranty	4,766	4,600
Line of credit	206,000	222,000
Total current liabilities	322,797	290,599
Deferred income taxes	68,224	68,224
Operating lease liabilities	21,916	23,974
Non-current accrued warranty	21,793	20,999
Other long-term liabilities	11,560	11,560
Total liabilities	446,290	415,356
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; 140,931,122 and 140,841,833 shares issued and 108,567,816 and 108,743,423 share outstanding, at June 30, 2023 and December 31, 2022, respectively	1,409	1,408
Additional paid-in capital	134,293	131,539
Retained earnings	1,248,841	1,130,674
Treasury stock, at cost, 32,363,306 shares at June 30, 2023 and 32,098,410 shares at December 31, 2022	(761,018)	(745,272)
Total stockholders' equity	623,525	518,349
Total liabilities and stockholders' equity	$ 1,069,815	$ 933,705

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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	140,931,122	140,841,833
Common stock, shares outstanding	108,567,816	108,743,423
Treasury stock, shares	32,363,306	32,098,410

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 [Member]	Treasury Stock [Member]
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
Beginning Balance at Dec. 31, 2022	518,349	$ 1,408	131,539	1,130,674	$ (745,272)
Beginning Balance, Shares at Dec. 31, 2022		108,743,423			32,098,410
Net income	41,131			41,131
Employee stock plans	316		316
Employee stock plans, Shares		8,504
Shares withheld for taxes on awards	(1,592)		(1,592)
Shares withheld for taxes on awards, Shares		(28,773)
Stock-based compensation	1,973	$ 1	1,972
Stock-based compensation, Shares		80,362
Ending Balance at Mar. 31, 2023	560,177	$ 1,409	132,235	1,171,805	$ (745,272)
Ending Balance, Shares at Mar. 31, 2023		108,803,516			32,098,410
Beginning Balance at Dec. 31, 2022	518,349	$ 1,408	131,539	1,130,674	$ (745,272)
Beginning Balance, Shares at Dec. 31, 2022		108,743,423			32,098,410
Net income	118,167
Ending Balance at Jun. 30, 2023	623,525	$ 1,409	134,293	1,248,841	$ (761,018)
Ending Balance, Shares at Jun. 30, 2023		108,567,816			32,363,306
Beginning Balance at Mar. 31, 2023	560,177	$ 1,409	132,235	1,171,805	$ (745,272)
Beginning Balance, Shares at Mar. 31, 2023		108,803,516			32,098,410
Net income	77,036			77,036
Employee stock plans	323		323
Employee stock plans, Shares		7,971
Shares withheld for taxes on awards	(855)		(855)
Shares withheld for taxes on awards, Shares		(15,663)
Stock-based compensation	2,590		2,590
Stock-based compensation, Shares		36,888
Repurchases of common stock	(15,746)				$ (15,746)
Repurchases of common stock, Shares		(264,896)			264,896
Ending Balance at Jun. 30, 2023	$ 623,525	$ 1,409	$ 134,293	$ 1,248,841	$ (761,018)
Ending Balance, Shares at Jun. 30, 2023		108,567,816			32,363,306

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES
Net income	$ 118,167	$ 160,127
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	24,198	21,804
Stock-based compensation	4,562	3,282
Gain on disposal of property, plant and equipment	1,081	(43)
Other non-cash adjustments	(388)	(365)
Changes in operating assets and liabilities:
Accounts receivable	(168,751)	(26,988)
Inventories	67,348	(17,119)
Prepaid expenses and other assets	2,046	949
Accounts payable	13,816	32,943
Accrued expenses and other liabilities	20,686	13,175
Income taxes receivable/payable	25,016	2,227
Net cash provided by operating activities	107,781	189,992
INVESTING ACTIVITIES
Expenditures for property, plant and equipment	(82,357)	(66,606)
Proceeds from sales of property, plant and equipment		45
Net cash used in investing activities	(82,357)	(66,561)
FINANCING ACTIVITIES
Borrowings under line of credit	330,000
Principal payments under line of credit	(346,000)
Repurchases of common stock	(18,192)	(247,921)
Proceeds from employee stock purchase and option plans	639	951
Financing costs	30	(866)
Net cash used in financing activities	(33,523)	(247,836)
Net decrease in cash and cash equivalents	(8,099)	(124,405)
Cash and cash equivalents, beginning of period	12,325	141,053
Cash and cash equivalents, end of period	4,226	16,648
Supplemental Disclosure:
Cash paid for interest, net of capitalized interest	2,602
Cash paid for income taxes, net	15,348	48,915
Supplemental non-cash investing and financing disclosure:
Capital expenditures in accounts payable	$ 1,523	$ 21

Business and Organization

Business and Organization	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	1. BUSINESS AND ORGANIZATION Trex Company, Inc. (Trex, Company), a Delaware corporation, was incorporated on September 4, 1998. As of December 30, 2022, the Company operates in one reportable segment, Trex Residential Products (Trex Residential). Through December 30, 2022, Trex had one wholly-owned subsidiary, Trex Commercial Products, Inc. (Trex Commercial) and operated in two reportable segments, Trex Residential and Trex Commercial. Trex Res iden low-maintenance ® (540) 542-6300.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
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, 2023, are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023. 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 global health pandemics and geopolitical conflicts. Towards the end of June 2022, the Company experienced a reduction in demand from its distribution partners, which the Company believed was primarily spurred by concerns over a potential easing in consumer demand due to rising interest rates, declining consumer sentiment and expectations of a general slowing in the economy. As a result, beginning in the third quarter of 2022 the Company’s channel partners met demand partially through inventory drawdown rather than reordering products and maintaining current inventories. This inventory recalibration was completed by year end. Thes 10-K,

Sale of Trex Commercial Product

Sale of Trex Commercial Products, Inc.	6 Months Ended
	Jun. 30, 2023
Trex Commercial Products Inc [Member]
Subsidiary or Equity Method Investee [Line Items]
Sale of Trex Commercial Products, Inc.	3. SALE OF TREX COMMERCIAL PRODUCTS, INC. On December 30, 2022, the Company completed the sale of substantially all of the assets of its wholly-owned subsidiary and reportable segment, Trex Commercial. The divestiture reflected the Company’s decision to focus on driving the most profitable growth strategy for the Company and its shareholders through the execution of its outdoor living strategy. With the sale complete, the Company will dedicate its resources to accelerating conversion to composites from wood and further strengthen its leadership position in the outdoor living category. The divestiture did not represent a strategic shift with a major effect on the Company’s operations. The results of operations of Trex Commercial are consolidated in the Company’s results of operations for the three months and six months ended June 30, 2022.

Recently Adopted Accounting Sta

Recently Adopted Accounting Standards	6 Months Ended
	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Recently Adopted Accounting Standards	4. REC EN In December 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-06 No. 2020-04 No. 2020-04

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	5. INVENTORIES Inventories valued at LIFO (last-in, first-out), June 30, December 31, Finished goods $ 52,660 $ 107,114 Raw materials 56,398 69,292 Total FIFO (first-in, first-out) 109,058 176,406 Reserve to adjust inventories to LIFO value (35,051 ) (35,051 ) Total LIFO inventories $ 74,007 $ 141,355 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 In the six months ended June 30, 2023, the Company had a reduction in inventory that it does not expect will be replenished by year end. However, the Company estimates that the LIFO liquidation will not have a material impact on cost of sales for the year ended December 31, 2023 and, accordingly, it did not impact the cost of sales for the six months ended June 30, 2023.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 2023
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, 2023 December 31, Prepaid expenses $ 9,314 $ 10,787 Income tax receivable 14,810 23,979 Other 279 339 Total prepaid expenses and other assets $ 24,403 $ 35,105

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	7. GOO DWI The carrying amount of goodwill at June 30, 2023, and December 31, 2022, was $14.2 million for Trex Residential. The Company’s intangible assets, purchased in 2018, consist of domain names for Trex Residential. At June 30, 2023, and December 31, 2022, intangible assets were $6.3 million and accumulated amortization was $2.1 million and $1.9 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, 2023, and June 30, 2022, was $0.2 million and $0.2 million, respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2023
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, 2023 December 31, Sales and marketing $ 31,230 $ 19,194 Compensation and benefits 15,576 8,646 Operating lease liabilities 7,498 7,488 Manufacturing costs 3,802 3,425 Income taxes 15,848 — Other 5,849 5,311 Total accrued expenses and other liabilities $ 79,803 $ 44,064

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	9. DEBT Revolving Credit Facility 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. Indebtedness on and after May 18, 2022 and prior to December 22, 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 Credit Agreement provides the Company, in the aggregate, the ability to borrow an amount up to the Loan Limit during the Term. The Company is not obligated to borrow any amount under the Loan Limit. Within the Loan Limit, the Company may borrow, repay and reborrow at any time or from time to time while the Notes are in effect. Base Rate Loans (as defined in the Credit Agreement) under the Revolving Loans and the Swing Line Loans accrue interest at the Base Rate plus the Applicable Rate (as defined in the Credit Agreement) and Term SOFR Loans for the Revolving Loans accrue interest at the rate per annum equal to the sum of Term SOFR for such interest period plus the Applicable Rate (as defined in the Credit Agreement). The Base Rate for any day is a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by BOA as its prime rate, and (c) the Term SOFR plus 1.0% subject to certain interest rate floors. Repayment of all then outstanding principal, interest, fees and costs is due at the end of the Term. The Company and BofA Securities 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 Trex Commercial, 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 On and After December 22, 2022 Under the First Amendment, the Lenders agreed to provide the Company with a Revolving B Loan consisting of one or more revolving loans in a collective maximum principal amount of $150,000,000 (Revolving B Loan Limit) throughout the term, which ends December 22, 2024 (Revolving B Loan Term). Previously, under the Credit Agreement, there was no Revolving B Loan. The First Amendment also provided that TD would serve as Syndication Agent. As of December 22, 2022, the Credit Agreement was amended and restated to refer to this loan as the Revolving A Loan. The amended and restated Credit Agreement was made an Exhibit A to the First Amendment. All of the terms of the Credit Agreement apply to the Revolving B Loan. The Credit Agreement continues to include sublimits under the Revolving A Loan 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 under Revolving A Loan are for the purpose of raising working capital and supporting general business operations. The Notes provide the Company, in the aggregate, the ability to borrow an amount up to the Revolving A Loan Limit during the Revolving A Loan Term and Revolving B Loan Limit during the Revolving B Loan Term. The Company is not obligated to borrow any amount under the revolving loans. Within the respective loan limit, the Company may borrow, repay and reborrow at any time or from time to time while the Notes are in effect. With respect to Revolving B Loans, for any day, the rate per annum is a tiered pricing based upon the Consolidated Debt to Consolidated EBITDA Ratio. The applicable rate for Revolving B Loans that are Base Rate Loans range between 1.20% and 2.15% and the applicable rate for Revolving B Loans that are Term SOFR/Term SOFR Daily Floating Rate range between 0.20% and 1.15%. The Company had $206 million in borrowings outstanding under its revolving credit facility and available borrowing capacity of $344 million at June 30, 2023. The weighted average interest rate on the revolving credit facility was 6.15% as of June 30, 2023. 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, 2023. 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, 2023
Leases [Abstract]
Leases	10. LEASES The Company leases office space, storage warehouses, training and manufacturing facilities, and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of 1 year to 6 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, 2023, and June 30, 2022, total operating lease expense was $4.2 million and $4.2 million, respectively. The weighted average remaining lease term at June 30, 2023 and December 31, 2022 was 4.8 years and 5.2 years, respectively. The weighted average discount rate at June 30, 2023 and December 31, 2022 was 2.27% and 2.10%, respectively. The following table includes supplemental cash flow information for the six months ended June 30, 2023, and June 30, 2022, and supplemental balance sheet information at June 30, 2023 and December 31, 2022 related to operating leases (in thousands): Six Months Ended June 30, Supplemental cash flow information 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 4,302 $ 4,334 Operating ROU assets obtained in exchange for lease liabilities $ 1,882 $ 6,714 Supplemental balance sheet information June 30, 2023 December 31, Operating lease ROU assets $ 29,099 $ 30,991 Operating lease liabilities: Accrued expenses and other current liabilities $ 7,498 $ 7,488 Operating lease liabilities 21,916 23,974 Total operating lease liabilities $ 29,414 $ 31,462 The following table summarizes maturities of operating lease liabilities at June 30, 2023 (in thousands): Maturities of operating lease liabilities 2023 $ 3,863 2024 7,386 2025 5,552 2026 4,851 2027 4,446 Thereafter 4,845 Total lease payments 30,943 Less imputed interest (1,529 ) Total operating lease liabilities $ 29,414

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2023
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, 2023 and December 31, 2022.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
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, 2023 2022 2023 2022 Numerator: Net income available to common shareholders $ 77,036 $ 88,916 $ 118,167 $ 160,127 Denominator: Basic weighted average shares outstanding 108,770,204 113,099,561 108,771,077 113,864,741 Effect of dilutive securities: Stock appreciation rights and options 67,479 96,179 68,742 110,253 Restricted stock 33,757 63,774 54,029 77,453 Diluted weighted average shares outstanding 108,871,440 113,259,514 108,893,848 114,052,447 Basic earnings per share $ 0.71 $ 0.79 $ 1.09 $ 1.41 Diluted earnings per share $ 0.71 $ 0.79 $ 1.09 $ 1.40 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 2023 2022 2023 2022 Stock appreciation rights 91,402 47,303 100,076 38,789 Restricted stock 101,722 63,131 104,646 38,823 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). From January 1, 2023 through May 3, 2023, Trex did not repurchase shares of its outstanding common stock under the Stock Repurchase Program. On May 4, 2023, the Trex Board of Directors adopted a new stock repurchase program (2023 Stock Repurchase Program) of up to 10.8 million shares of its outstanding common stock, and terminated the existing Stock Repurchase Program. This repurchase program has no set expiration date. From May 4, 2023 through June 30, 2023, Trex repurchased 264,896 shares of its outstanding common stock under the 2023 Stock Repurchase Program.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	6 Months Ended
	Jun. 30, 2023
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 On December 30, 2022, the Company completed the sale of its wholly-owned subsidiary and reportable segment, Trex Commercial. Prior to December 30, 2022, Trex Commercial generated revenue from the manufacture and sale of its modular and architectural railing and staging systems. All of its revenues were from fixed-price contracts with customers. Trex Commercial contracts had a single performance obligation as the promise to transfer the individual goods or services were not separately identifiable from other promises in the contract and was, therefore, not distinct. For the three months and six months ended June 30, 2023, and June 30, 2022, 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, 2023 Trex Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 356,538 $ 356,538 Three Months Ended June 30, 2022 Reportable Segment Trex Trex Consolidated 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 Six Months Ended June 30, 2023 Trex Timing of Revenue and Type of Contract Products transferred at a point in time and variable consideration contracts $ 595,256 $ 595,256 Six Months Ended June 30, 2022 Reportable Segment Trex Trex Consolidated 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

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	14. STOCK-BASED COMPENSATION At the annual meeting of stockholders of the Company held on May 4, 2023, the Company’s stockholders approved the Trex Company, Inc. 2023 Stock Incentive Plan (Plan). The Company’s board of directors unanimously approved the Plan on April 10, 2023, subject to stockholder approval. The Plan amends and restates in its entirety the Trex Company, Inc. 2014 Stock Incentive Plan (2014 Plan), which was last approved by the Company’s stockholders at the annual meeting held on April 30, 2014. The Plan, which will be administered by the compensation committee of the board of directors, provides for the grant of stock options, restricted stock, restricted stock units, stock appreciation rights and unrestricted stock, which are referred to collectively as “awards.” Awards may be granted under the Plan to officers, directors (including non-employee The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2023: Stock Awards Granted Weighted-Average Per Share Time-based restricted stock units 77,675 $ 56.73 Performance-based restricted stock units (a) 96,013 $ 56.79 Stock appreciation rights 51,916 $ 56.80 (a) Includes 85,044 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2023, and adjustments of 1,413 and 9,646 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2021 and 2020, 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, 2023, and June 30, 2022, the data and assumptions shown in the following table were used: Six Months Ended June 30, 2023 Six Months Ended June , 2022 Weighted-average fair value of grants $ 27.19 $ 33.90 Dividend yield 0 % 0 % Average risk-free interest rate 4.0 % 1.9 % Expected term (years) 5 5 Expected volatility 49.5 % 44.9 % 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 2023 2022 2023 2022 Stock appreciation rights $ 198 $ 196 $ 412 $ 350 Time-based restricted stock and restricted stock units 871 959 1,806 1,806 Performance-based restricted stock and restricted stock units 1,320 (151 ) 2,044 1,007 Employee stock purchase plan 201 53 300 119 Total stock-based compensation $ 2,590 $ 1,057 $ 4,562 $ 3,282 Total unrecognized compensation cost related to unvested awards as of June 30, 2023, was $14.4 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, 2023
Income Tax Disclosure [Abstract]
Income Taxes	15. INCOME TAXES The Company’s effective tax rate for the six months ended June 30, 2023, was 25.4% and was comparable to the effective tax rate for the six months ended June 30, 2022, of 24.8%, which resulted in income tax expense of $40.3 million and $52.7 million, respectively. During the six months ended June 30, 2023 and June 30, 2022, the Company realized $0.2 million and $0.1 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, 2023, the Company maintains a valuation allowance of $3.0 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, 2023, for certain tax jurisdictions tax years 2019 through 2022 remain 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, 2023
Segment Reporting [Abstract]
Segment Information	16. SEGMENT INFORMATION Through December 30, 2022, the Company operated in two reportable segments. On December 30, 2022, the Company completed the sale of its wholly-owned subsidiary and reportable segment, Trex Commercial. Subsequent to the sale of Trex Commercial, the Company operates in one reportable segment, Trex Residential: • Trex Residential manufactures wood-alternative decking and residential railing and related products marketed under the brand name Trex ® • Trex Commercial designed, engineered, and marketed modular and architectural railing and staging systems for the commercial and multi-family market, including sports stadiums and performing arts venues. Trex Commercial products were marketed to architects, specifiers, contractors, and others doing business within the commercial and multi-family market. The Company’s reportable segments are determined in accordance with its internal management structure, which, through December 30, 2022, was based on residential and commercial sales activities and, subsequent to December 30, 2022, is based on its residential 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, 2023 and June 30, 2022 includes data for its reportable segments (in thousands): Segment Data: Three Months June 30, 2023 Three Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net sales $ 356,538 $ 373,922 $ 12,327 $ 386,249 Net Income (loss) $ 77,036 $ 89,437 $ (521 ) $ 88,916 EBITDA $ 117,050 $ 129,550 $ (410) $ 129,140 Depreciation and amortization $ 12,283 $ 11,049 $ 282 $ 11,331 Income tax expense (benefit) $ 26,426 $ 29,180 $ (171) $ 29,009 Capital expenditures $ 43,165 $ 44,251 $ 67 $ 44,318 Total assets $ 1,069,815 $ 846,112 $ 41,182 $ 887,294 Reconciliation of Net Income to EBITDA: Three Months June 30, 2023 Three Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net Income (loss) $ 77,036 $ 89,437 $ (521 ) $ 88,916 Interest expense (income), net 1,305 (116 ) — (116 ) Income tax expense (benefit) 26,426 29,180 (171 ) 29,009 Depreciation and amortization 12,283 11,049 282 11,331 EBITDA $ 117,050 $ 129,550 $ (410 ) $ 129,140 Segment Data: Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net sales $ 595,256 $ 701,117 $ 24,360 $ 725,477 Net Income (loss) $ 118,167 $ 161,652 $ (1,525 ) $ 160,127 EBITDA $ 185,912 $ 236,031 $ (1,466 ) $ 234,565 Depreciation and amortization $ 24.198 $ 21,240 $ 565 $ 21,805 Income tax expense (benefit) $ 40,258 $ 53,243 $ (506 ) $ 52,737 Capital expenditures $ 82,357 $ 66,534 $ 72 $ 66,606 Total assets $ 1,069,815 $ 846,112 $ 41,182 $ 887,294 Reconciliation of Net Income to EBITDA: Six Months June 30, 2023 Six Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net Income (loss) $ 118,167 $ 161,652 $ (1,525 ) $ 160,127 Interest expense (income), net 3,289 (104 ) — (104 ) Income tax expense (benefit) 40,258 53,243 (506 ) 52,737 Depreciation and amortization 24,198 21,240 565 21,805 EBITDA $ 185,912 $ 236,031 $ (1,466 ) $ 234,565

Seasonality

Seasonality	6 Months Ended
	Jun. 30, 2023
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.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. COMMITMENTS AND CONTINGENCIES Product Warranty The Company warrants that for the applicable warranty period its Trex Residential products, when properly installed, used and maintained, will be free from material defects in workmanship and materials and its decking, cladding, fascia and railing products will not split, splinter, rot or suffer structural damage from termites or fungal decay. Products sold on or after January 1, 2023: The warranty period for residential use is 50 years for Transcend ® ® ® ® Products sold prior to January 1, 2023: The warranty period is 25 years for residential use and 10 years for commercial use. With respect to Trex Signature railing, the warranty period is 25 years for both residential and commercial use. The Company further warrants that Trex Transcend, Trex Enhance, Trex Select and Universal Fascia products will not fade in color more than a certain amount and will be resistant to permanent staining from food substances or mold, provided the stain is cleaned within seven days of appearance, for the warranty period referred to above. If there is a breach of such warranties, the company has an obligation either to replace the defective product or refund the purchase price. Trex Residential continues to receive and settle claims for decking 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 determine a reasonable possible range 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 to determine its best estimate of future claims for which to record a related liability. 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, 2023 was lower than the number of claims received in the six months ended June 30, 2022, and lower than the Company’s expectations for 2023. Average cost per claim experienced in the six months ended June 30, 2023 was lower than that experienced in the six months ended June 30, 2022, which was elevated due to the closure of three large claims, and lower than the Company’s expectations for 2023. The Company believes the reserve at June 30, 2023 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 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 $1.5 million change in the surface flaking warranty reserve. The Company also maintains a warranty reserve for the settlement of other residential product warranty claims and records the provision at the time of product sale. The following is a reconciliation of the Company’s residential product warranty reserve (in thousands): Six Months Ended June 30, 2023 Surface Other Total Beginning balance, January 1 $ 15,905 $ 9,694 $ 25,599 Provisions and changes in estimates — 3,008 3,008 Settlements made during the period (891 ) (1,157 ) (2,048 ) Ending balance, June 30 $ 15,014 $ 11,545 $ 26,559 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 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 located in Little Rock, Arkansas, that will sit on approximately 300 acres of land. The development approach for the new campus will be modular and calibrated to demand trends 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.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories valued at LIFO (last-in, first-out), June 30, December 31, Finished goods $ 52,660 $ 107,114 Raw materials 56,398 69,292 Total FIFO (first-in, first-out) 109,058 176,406 Reserve to adjust inventories to LIFO value (35,051 ) (35,051 ) Total LIFO inventories $ 74,007 $ 141,355

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Text Block [Abstract]
Summary of Prepaid Expenses and Other Assets	Prepaid expenses and other assets consist of the following (in thousands): June 30, 2023 December 31, Prepaid expenses $ 9,314 $ 10,787 Income tax receivable 14,810 23,979 Other 279 339 Total prepaid expenses and other assets $ 24,403 $ 35,105

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): June 30, 2023 December 31, Sales and marketing $ 31,230 $ 19,194 Compensation and benefits 15,576 8,646 Operating lease liabilities 7,498 7,488 Manufacturing costs 3,802 3,425 Income taxes 15,848 — Other 5,849 5,311 Total accrued expenses and other liabilities $ 79,803 $ 44,064

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023, and June 30, 2022, and supplemental balance sheet information at June 30, 2023 and December 31, 2022 related to operating leases (in thousands): Six Months Ended June 30, Supplemental cash flow information 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 4,302 $ 4,334 Operating ROU assets obtained in exchange for lease liabilities $ 1,882 $ 6,714 Supplemental balance sheet information June 30, 2023 December 31, Operating lease ROU assets $ 29,099 $ 30,991 Operating lease liabilities: Accrued expenses and other current liabilities $ 7,498 $ 7,488 Operating lease liabilities 21,916 23,974 Total operating lease liabilities $ 29,414 $ 31,462
Maturities of operating lease liabilities	The following table summarizes maturities of operating lease liabilities at June 30, 2023 (in thousands): Maturities of operating lease liabilities 2023 $ 3,863 2024 7,386 2025 5,552 2026 4,851 2027 4,446 Thereafter 4,845 Total lease payments 30,943 Less imputed interest (1,529 ) Total operating lease liabilities $ 29,414

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 2022 2023 2022 Numerator: Net income available to common shareholders $ 77,036 $ 88,916 $ 118,167 $ 160,127 Denominator: Basic weighted average shares outstanding 108,770,204 113,099,561 108,771,077 113,864,741 Effect of dilutive securities: Stock appreciation rights and options 67,479 96,179 68,742 110,253 Restricted stock 33,757 63,774 54,029 77,453 Diluted weighted average shares outstanding 108,871,440 113,259,514 108,893,848 114,052,447 Basic earnings per share $ 0.71 $ 0.79 $ 1.09 $ 1.41 Diluted earnings per share $ 0.71 $ 0.79 $ 1.09 $ 1.40
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 2023 2022 2023 2022 Stock appreciation rights 91,402 47,303 100,076 38,789 Restricted stock 101,722 63,131 104,646 38,823

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 Trex Timing of Revenue Recognition and Type of Contract Products transferred at a point in time and variable consideration contracts $ 356,538 $ 356,538 Three Months Ended June 30, 2022 Reportable Segment Trex Trex Consolidated 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 Six Months Ended June 30, 2023 Trex Timing of Revenue and Type of Contract Products transferred at a point in time and variable consideration contracts $ 595,256 $ 595,256 Six Months Ended June 30, 2022 Reportable Segment Trex Trex Consolidated 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

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
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 2023 2022 2023 2022 Stock appreciation rights $ 198 $ 196 $ 412 $ 350 Time-based restricted stock and restricted stock units 871 959 1,806 1,806 Performance-based restricted stock and restricted stock units 1,320 (151 ) 2,044 1,007 Employee stock purchase plan 201 53 300 119 Total stock-based compensation $ 2,590 $ 1,057 $ 4,562 $ 3,282
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, 2023, and June 30, 2022, the data and assumptions shown in the following table were used: Six Months Ended June 30, 2023 Six Months Ended June , 2022 Weighted-average fair value of grants $ 27.19 $ 33.90 Dividend yield 0 % 0 % Average risk-free interest rate 4.0 % 1.9 % Expected term (years) 5 5 Expected volatility 49.5 % 44.9 %
Summary of Stock-Based Compensation Grants	The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2023: Stock Awards Granted Weighted-Average Per Share Time-based restricted stock units 77,675 $ 56.73 Performance-based restricted stock units (a) 96,013 $ 56.79 Stock appreciation rights 51,916 $ 56.80 (a) Includes 85,044 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2023, and adjustments of 1,413 and 9,646 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2021 and 2020, respectively.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Details of Segment Information	Segment Data: Three Months June 30, 2023 Three Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net sales $ 356,538 $ 373,922 $ 12,327 $ 386,249 Net Income (loss) $ 77,036 $ 89,437 $ (521 ) $ 88,916 EBITDA $ 117,050 $ 129,550 $ (410) $ 129,140 Depreciation and amortization $ 12,283 $ 11,049 $ 282 $ 11,331 Income tax expense (benefit) $ 26,426 $ 29,180 $ (171) $ 29,009 Capital expenditures $ 43,165 $ 44,251 $ 67 $ 44,318 Total assets $ 1,069,815 $ 846,112 $ 41,182 $ 887,294 Segment Data: Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net sales $ 595,256 $ 701,117 $ 24,360 $ 725,477 Net Income (loss) $ 118,167 $ 161,652 $ (1,525 ) $ 160,127 EBITDA $ 185,912 $ 236,031 $ (1,466 ) $ 234,565 Depreciation and amortization $ 24.198 $ 21,240 $ 565 $ 21,805 Income tax expense (benefit) $ 40,258 $ 53,243 $ (506 ) $ 52,737 Capital expenditures $ 82,357 $ 66,534 $ 72 $ 66,606 Total assets $ 1,069,815 $ 846,112 $ 41,182 $ 887,294
Schedule of Reconciliation of Net Income to EBITDA	Reconciliation of Net Income to EBITDA: Three Months June 30, 2023 Three Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net Income (loss) $ 77,036 $ 89,437 $ (521 ) $ 88,916 Interest expense (income), net 1,305 (116 ) — (116 ) Income tax expense (benefit) 26,426 29,180 (171 ) 29,009 Depreciation and amortization 12,283 11,049 282 11,331 EBITDA $ 117,050 $ 129,550 $ (410 ) $ 129,140 Reconciliation of Net Income to EBITDA: Six Months June 30, 2023 Six Months Ended June 30, 2022 Trex Residential Trex Trex Consolidated Net Income (loss) $ 118,167 $ 161,652 $ (1,525 ) $ 160,127 Interest expense (income), net 3,289 (104 ) — (104 ) Income tax expense (benefit) 40,258 53,243 (506 ) 52,737 Depreciation and amortization 24,198 21,240 565 21,805 EBITDA $ 185,912 $ 236,031 $ (1,466 ) $ 234,565

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 Surface Other Total Beginning balance, January 1 $ 15,905 $ 9,694 $ 25,599 Provisions and changes in estimates — 3,008 3,008 Settlements made during the period (891 ) (1,157 ) (2,048 ) Ending balance, June 30 $ 15,014 $ 11,545 $ 26,559 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

Business and Organization - Add

Business and Organization - Additional Information (Detail) - Segment		6 Months Ended
	Dec. 30, 2022	Jun. 30, 2023
Accounting Policies [Abstract]
Number of reportable segments	2	1

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 52,660	$ 107,114
Raw materials	56,398	69,292
Total FIFO (first-in, first-out) inventories	109,058	176,406
Reserve to adjust inventories to LIFO value	(35,051)	(35,051)
Total LIFO inventories	$ 74,007	$ 141,355

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets - Summary of Prepaid Expenses and Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses	$ 9,314	$ 10,787
Income tax receivable	14,810	23,979
Other	279	339
Total prepaid expenses and other assets	$ 24,403	$ 35,105

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill [Line Items]
Amortization of intangible asset	$ 0.2	$ 0.2
Intangible Assets	6.3		$ 6.3
Accumulated Amortization	2.1		1.9
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, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Sales and marketing	$ 31,230	$ 19,194
Compensation and benefits	15,576	8,646
Operating lease liabilities	7,498	7,488
Manufacturing costs	3,802	3,425
Income taxes	15,848	0
Other	5,849	5,311
Total accrued expenses and other liabilities	$ 79,803	$ 44,064

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Dec. 22, 2022	May 26, 2022	May 18, 2022	May 26, 2020
Line of Credit Facility [Line Items]
Remaining available borrowing capacity	$ 344,000,000
Termination date of the Credit Agreement	Nov. 05, 2024
Outstanding borrowing capacity	$ 206,000,000	$ 222,000,000
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		$ 100,000,000
Debt, Weighted Average Interest Rate	6.15%
Revolving Credit Facility [Member] | Fifth Amendment And Restated Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount					$ 400,000,000
Termination date of the Credit Agreement	May 18, 2027
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%
Revolving B Loan [Member]
Line of Credit Facility [Line Items]
Long-Term Line of Credit	$ 150,000,000
Revolving B Loan [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt instrument, Interest rate, Stated percentage	2.15%
Revolving B Loan [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt instrument, Interest rate, Stated percentage	1.20%
Revolving B Loan [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 B Loan [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 B Loan [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Interest rate	1.15%
Revolving B Loan [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Interest rate	0.20%

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Weighted average discount rate	2.27%		2.10%
Operating lease cost	$ 4.2	$ 4.2
Weighted average remaining lease term	4 years 9 months 18 days		5 years 2 months 12 days
Minimum [Member]
Operating Lease terms	1 year
Maximum [Member]
Operating Lease terms	6 years

Leases - Supplemental Cash flow

Leases - Supplemental Cash flow Information to operating leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Supplemental cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities	$ 4,302	$ 4,334
Operating ROU assets obtained in exchange for lease liabilities	1,882	$ 6,714
Supplemental balance sheet information
Operating lease ROU assets	29,099		$ 30,991
Operating lease liabilities:
Accrued expenses and other current liabilities	7,498		7,488
Operating lease liabilities	21,916		23,974
Total operating lease liabilities	$ 29,414		$ 31,462

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating Lease Liabilities, Payments Due [Abstract]
2023	$ 3,863
2024	7,386
2025	5,552
2026	4,851
2027	4,446
Thereafter	4,845
Total lease payments	30,943
Less imputed interest	(1,529)
Total operating lease liabilities	$ 29,414	$ 31,462

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares		2 Months Ended
	May 04, 2023	Jun. 30, 2023
Stock Repurchase Programs [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized shares		11,600,000
2023 Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased by the Company	10,800,000
Stock repurchased during period, shares		264,896

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, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income available to common shareholders	$ 77,036	$ 41,131	$ 88,916	$ 71,211	$ 118,167	$ 160,127
Denominator:
Basic weighted average shares outstanding	108,770,204		113,099,561		108,771,077	113,864,741
Effect of dilutive securities:
Diluted weighted average shares outstanding	108,871,440		113,259,514		108,893,848	114,052,447
Basic earnings per share	$ 0.71		$ 0.79		$ 1.09	$ 1.41
Diluted earnings per share	$ 0.71		$ 0.79		$ 1.09	$ 1.4
Stock appreciation rights [Member]
Effect of dilutive securities:
Dilutive securities	67,479		96,179		68,742	110,253
Restricted stock [Member]
Effect of dilutive securities:
Dilutive securities	33,757		63,774		54,029	77,453

Stockholders' Equity - Antidilu

Stockholders' Equity - Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
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	101,722	63,131	104,646	38,823
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	91,402	47,303	100,076	38,789

Revenue From Contracts With C_3

Revenue From Contracts With Customers - Summary of Disaggregated Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 356,538	$ 386,249	$ 595,256	$ 725,477
Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers		373,922		701,117
Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers		12,327		24,360
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	356,538	373,922	595,256	701,117
Residential [Member] | Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 356,538	373,922	$ 595,256	701,117
Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers		12,327		24,360
Commercial [Member] | Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers		$ 12,327		$ 24,360

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested awards	$ 14.4
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation number of shares granted authorized	4,000,000
Number of common stock available for future issuance	3,999,023
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	85,044
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	51,916
Performance Based Restricted Stock Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or rights issued		1,413	9,646

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,590	$ 1,057	$ 4,562	$ 3,282
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	198	196	412	350
Time-Based Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	871	959	1,806	1,806
Performance-Based Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,320	(151)	2,044	1,007
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 201	$ 53	$ 300	$ 119

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, 2023	Jun. 30, 2022
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions and Methodology [Line Items]
Weighted-average fair value of grants	$ 27.19	$ 33.9
Dividend yield	0%	0%
Average risk-free interest rate	4%	1.90%
Expected term (years)	5 years	5 years
Expected volatility	49.50%	44.90%

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock-Based Compensation Grants (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Time Based Restricted Stock Units [Member]
Stock Awards Granted | shares	77,675
Weighted-Average Grant Price Per Share | $ / shares	$ 56.73
Performance Based Restricted Stock Units [Member]
Stock Awards Granted | shares	96,013
Weighted-Average Grant Price Per Share | $ / shares	$ 56.79
Stock Appreciation Rights [Member]
Stock Awards Granted | shares	51,916
Weighted-Average Grant Price Per Share | $ / shares	$ 56.8

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Contingency [Line Items]
Valuation allowance	$ 3,000		$ 3,000
Income tax expense (benefit)	$ 26,426	$ 29,009	$ 40,258	$ 52,737
Effective tax rate			25.40%	24.80%
Excess tax benefits from stock based awards			$ 200	$ 100
Earliest Tax Year [Member] | Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2019
Latest Tax Year [Member] | Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2022

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment		6 Months Ended
	Dec. 30, 2022	Jun. 30, 2023
Segment Reporting Information [Line Items]
Number of reportable segment	2	1

Segment Information - Details o

Segment Information - Details of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 356,538		$ 386,249		$ 595,256	$ 725,477
Net Income (loss)	77,036	$ 41,131	88,916	$ 71,211	118,167	160,127
Depreciation and amortization					24,198	21,804
Income tax expense (benefit)	26,426		29,009		40,258	52,737
Total assets	1,069,815				1,069,815		$ 933,705
Residential [Member]
Segment Reporting Information [Line Items]
Net sales	356,538		373,922		595,256	701,117
Net Income (loss)			89,437			161,652
EBITDA			129,550			236,031
Depreciation and amortization			11,049			21,240
Income tax expense (benefit)			29,180			53,243
Commercial [Member]
Segment Reporting Information [Line Items]
Net sales			12,327			24,360
Net Income (loss)			(521)			(1,525)
EBITDA			(410)			(1,466)
Depreciation and amortization			282			565
Income tax expense (benefit)			(171)			(506)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales			386,249			725,477
Net Income (loss)			88,916			160,127
EBITDA			129,140			234,565
Depreciation and amortization			11,331			21,805
Income tax expense (benefit)			29,009			52,737
Capital expenditures			44,318			66,606
Total assets			887,294			887,294
Operating Segments [Member] | Residential [Member]
Segment Reporting Information [Line Items]
Net sales	356,538		373,922		595,256	701,117
Net Income (loss)	77,036		89,437		118,167	161,652
EBITDA	117,050		129,550		185,912	236,031
Depreciation and amortization	12,283		11,049		24,198	21,240
Income tax expense (benefit)	26,426		29,180		40,258	53,243
Capital expenditures	43,165		44,251		82,357	66,534
Total assets	$ 1,069,815		846,112		$ 1,069,815	846,112
Operating Segments [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Net sales			12,327			24,360
Net Income (loss)			(521)			(1,525)
EBITDA			(410)			(1,466)
Depreciation and amortization			282			565
Income tax expense (benefit)			(171)			(506)
Capital expenditures			67			72
Total assets			$ 41,182			$ 41,182

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, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net Income (loss)	$ 77,036	$ 41,131	$ 88,916	$ 71,211	$ 118,167	$ 160,127
Interest expense (income), net	(1,305)		116		(3,289)	104
Income tax expense (benefit)	26,426		29,009		40,258	52,737
Depreciation and amortization					24,198	21,804
Residential [Member]
Segment Reporting Information [Line Items]
Net Income (loss)			89,437			161,652
Interest expense (income), net			(116)			(104)
Income tax expense (benefit)			29,180			53,243
Depreciation and amortization			11,049			21,240
EBITDA			129,550			236,031
Commercial [Member]
Segment Reporting Information [Line Items]
Net Income (loss)			(521)			(1,525)
Income tax expense (benefit)			(171)			(506)
Depreciation and amortization			282			565
EBITDA			(410)			(1,466)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Income (loss)			88,916			160,127
Interest expense (income), net			(116)			(104)
Income tax expense (benefit)			29,009			52,737
Depreciation and amortization			11,331			21,805
EBITDA			129,140			234,565
Operating Segments [Member] | Residential [Member]
Segment Reporting Information [Line Items]
Net Income (loss)	77,036		89,437		118,167	161,652
Interest expense (income), net	1,305				3,289
Income tax expense (benefit)	26,426		29,180		40,258	53,243
Depreciation and amortization	12,283		11,049		24,198	21,240
EBITDA	$ 117,050		129,550		$ 185,912	236,031
Operating Segments [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Net Income (loss)			(521)			(1,525)
Income tax expense (benefit)			(171)			(506)
Depreciation and amortization			282			565
EBITDA			$ (410)			$ (1,466)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)	Oct. 26, 2021 USD ($) a
Schedule Of Commitments And Contingencies [Line Items]
Change in warranty reserve for disclosure purposes only	$ 1.5
Area of Land | a		300
Residential Portfolio Segment [Member]
Schedule Of Commitments And Contingencies [Line Items]
Land and Land Improvements		$ 400
Surface Flaking Warranty Reserve [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage change in warranty claims used as a threshold for disclosure	10%
Residential Use [Member] | Products Sold Prior to January One, Two Thousand and Twenty Three [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
Commercial Use [Member] | Products Sold Prior to January One, Two Thousand and Twenty Three [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	10 years
Signature Railing And Transcend Cladding [Member] | Commercial Use [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Transcend Decking [Member] | Residential Use [Member] | Products Sold on or After January One, Two Thousand and Twenty Three [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	50 years
Select Decking And Universal Fascia [Member] | Residential Use [Member] | Products Sold on or After January One, Two Thousand and Twenty Three [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	35 years
Enhance Decking And Transcend, Select, Enhance And Signature Railing [Member] | Residential Use [Member] | Products Sold on or After January One, Two Thousand and Twenty Three [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Signature Railing [Member] | Residential and Commercial Use [Member] | Products Sold Prior to January One, Two Thousand and Twenty Three [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 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, 2023	Jun. 30, 2022
Product Warranty Liability [Line Items]
Beginning balance	$ 25,599	$ 28,595
Provisions and changes in estimates	3,008	2,369
Settlements made during the period	(2,048)	(2,434)
Ending balance	26,559	28,530
Surface Flaking [Member]
Product Warranty Liability [Line Items]
Beginning balance	15,905	18,542
Settlements made during the period	(891)	(1,345)
Ending balance	15,014	17,197
Other Residential [Member]
Product Warranty Liability [Line Items]
Beginning balance	9,694	10,053
Provisions and changes in estimates	3,008	2,369
Settlements made during the period	(1,157)	(1,089)
Ending balance	$ 11,545	$ 11,333