Encore Wire (WIRE) 10-K 24 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 23, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	ENCORE WIRE CORP
Entity Trading Symbol	WIRE
Entity Central Index Key	850,460
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY)	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		20,736,248
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 744,961,655

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 95,753	$ 79,152
Accounts receivable, net of allowance of $2,036 and $2,065	184,876	186,065
Inventories	93,274	95,254
Income taxes receivable	0	7,344
Prepaid expenses and other	2,479	2,340
Total current assets	376,382	370,155
Property, plant and equipment – at cost:
Land and land improvements	50,934	50,580
Construction-in-progress	35,825	33,942
Buildings and improvements	121,432	102,432
Machinery and equipment	289,493	274,755
Furniture and fixtures	9,204	9,012
Total property, plant and equipment	506,888	470,721
Accumulated depreciation	(225,499)	(215,953)
Property, plant and equipment – net	281,389	254,768
Other assets	193	3,193
Total assets	657,964	628,116
Current liabilities:
Trade accounts payable	18,577	28,743
Accrued liabilities	27,986	25,499
Income taxes payable	4,319	0
Total current liabilities	50,882	54,242
Deferred income taxes	33,973	35,235
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.01 par value: authorized shares - 2,000,000; none issued	0	0
Common stock, $.01 par value: authorized shares - 40,000,000; issued shares - 26,715,216 and 26,657,003	268	267
Additional paid-in capital	55,311	53,024
Treasury stock, at cost – 6,027,455 and 6,027,455 shares	(91,056)	(91,056)
Retained earnings	608,586	576,404
Total stockholders’ equity	573,109	538,639
Total liabilities and stockholders’ equity	$ 657,964	$ 628,116

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 2,036	$ 2,065
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	26,762,703	26,715,216
Treasury stock, shares (in shares)	6,027,455	6,027,455

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Net sales	$ 940,790	$ 1,017,622	$ 1,166,979
Cost of goods sold	820,673	880,900	1,042,002
Gross profit	120,117	136,722	124,977
Selling, general and administrative expenses	69,351	64,493	68,876
Operating income	50,766	72,229	56,101
Net interest and other income	(48)	(155)	(56)
Income before income taxes	50,814	72,384	56,157
Provision for income taxes	16,975	24,779	19,034
Net income	$ 33,839	$ 47,605	$ 37,123
Earnings per common and common equivalent share - basic (in usd per share)	$ 1.63	$ 2.30	$ 1.79
Weighted average common and common equivalent shares outstanding – basic	20,704	20,713	20,714
Earnings per common and common equivalent share - diluted (in usd per share)	$ 1.63	$ 2.29	$ 1.78
Weighted average common and common equivalent shares outstanding – diluted	20,773	20,787	20,821
Cash dividends declared per share (in usd per share)	$ 0.08	$ 0.08	$ 0.08

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings
Beginning balance (shares) at Dec. 31, 2013		26,632,000
Beginning balance at Dec. 31, 2013	$ 456,581	$ 266	$ 49,459	$ (88,134)	$ 494,990
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37,123				37,123
Exercise of stock options (shares)		25,000
Exercise of stock options	529	$ 1	528
Tax benefit on exercise of stock options	123		123
Stock-based compensation	488		488
Dividend declared—$0.08 per share	(1,657)				(1,657)
Ending balance (shares) at Dec. 31, 2014		26,657,000
Ending balance at Dec. 31, 2014	493,187	$ 267	50,598	(88,134)	530,456
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,605				47,605
Exercise of stock options (shares)		58,000
Exercise of stock options	1,728	$ 0	1,728
Tax benefit on exercise of stock options	40		40
Stock-based compensation	658		658
Dividend declared—$0.08 per share	(1,657)				(1,657)
Purchase of treasury stock	(2,922)			(2,922)
Ending balance (shares) at Dec. 31, 2015		26,715,000
Ending balance at Dec. 31, 2015	538,639	$ 267	53,024	(91,056)	576,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 33,839				33,839
Exercise of stock options (shares)	47,487	48,000
Exercise of stock options	$ 1,437	$ 1	1,436
Tax benefit on exercise of stock options	60		60
Stock-based compensation	791		791
Dividend declared—$0.08 per share	(1,657)				(1,657)
Ending balance (shares) at Dec. 31, 2016		26,763,000
Ending balance at Dec. 31, 2016	$ 573,109	$ 268	$ 55,311	$ (91,056)	$ 608,586

Consolidated Statements of Sto6

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in usd per share)	$ 0.08	$ 0.08	$ 0.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Activities
Net income	$ 33,839	$ 47,605	$ 37,123
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,811	16,063	15,453
Deferred income taxes	(1,262)	16,315	2,349
Excess tax benefits of options exercised	(60)	(40)	(123)
Stock-based compensation	1,596	802	703
Other	1,294	(190)	(116)
Changes in operating assets and liabilities:
Accounts receivable	1,210	20,843	8,831
Inventories	1,980	(17,003)	(7,471)
Trade accounts payable and accrued liabilities	(8,583)	(5,859)	9,309
Other assets and liabilities	12	(2,415)	339
Current income taxes receivable / payable	11,723	(5,353)	(3,275)
Net cash provided by operating activities	58,560	70,768	63,122
Investing Activities
Purchases of property, plant and equipment	(45,374)	(43,711)	(44,274)
Proceeds from sale of assets	3,792	242	75
Other	0	0	(32)
Net cash used in investing activities	(41,582)	(43,469)	(44,231)
Financing Activities
Deferred financing fees	(197)	0	0
Purchase of treasury stock	0	(2,922)	0
Proceeds from issuance of common stock, net	1,416	1,728	529
Dividends paid	(1,656)	(1,657)	(1,657)
Excess tax benefits of options exercised	60	40	123
Net cash used in financing activities	(377)	(2,811)	(1,005)
Net increase in cash and cash equivalents	16,601	24,488	17,886
Cash and cash equivalents at beginning of year	79,152	54,664	36,778
Cash and cash equivalents at end of year	$ 95,753	$ 79,152	$ 54,664

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Business The Company conducts its business in one segment – the manufacture of electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments, and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings. The Company sells its products primarily through 29 manufacturers’ representatives located throughout the United States and, to a lesser extent, through its own direct marketing efforts. The principal customers for Encore’s building wire are wholesale electrical distributors. Copper, a commodity product, is the principal raw material used in the Company’s manufacturing operations. Copper accounted for 65.2% %, 72.1% and 74.7% of the cost of goods sold during 2016 , 2015 , and 2014 , respectively. The price of copper fluctuates, depending on general economic conditions and in relation to supply and demand and other factors, and has caused monthly variations in the cost of copper purchased by the Company. The Company cannot predict future copper prices or the effect of fluctuations in the cost of copper on the Company’s future operating results. As the Company continues to expand its product offerings with aluminum wire, the cost of aluminum will impact the raw materials discussion throughout this report. During 2016 , aluminum rod used to draw into aluminum wire constituted 4.6% of cost of goods sold. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. Intercompany accounts and transactions have been eliminated upon consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Revenue Recognition Revenue from the sale of the Company’s products is recognized when goods are shipped to the customer, title and risk of loss are transferred, pricing is fixed or determinable and collection is reasonably assured. A provision for payment discounts and customer rebates is estimated based upon historical experience and other relevant factors and is recorded within the same period that the revenue is recognized. Freight Expenses The Company classifies shipping and handling costs as a component of selling, general and administrative expenses. Shipping and handling costs were approximately $24.1 million , $22.7 million and $24.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Fair Value of Financial Instruments Certain items are required to be measured at fair value on a recurring basis, primarily cash equivalents held in banks. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy is followed for disclosure to show the extent and level of judgment used to estimate fair value measurements: Level 1 – Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date. Level 2 – Inputs used to measure fair value, other than quoted prices included in Level 1, are either directly or indirectly observable as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data from actively quoted markets for substantially the full term of the financial instrument. Level 3 – Inputs used to measure fair value are unobservable inputs that are supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. At December 31, 2016 and 2015 , the carrying value of cash and cash equivalents is based on Level 1 measurements. Concentrations of Credit Risk and Accounts Receivable Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high credit quality financial institutions. Accounts receivable represent amounts due from customers, primarily wholesale electrical distributors, related to the sale of the Company’s products. Such receivables are uncollateralized and are generally due from a diverse group of customers located throughout the United States. Encore has two customers, each of whom slightly exceed 10% of the Company's total sales. The Company establishes an allowance for losses based upon the makeup of the current portfolio, past bad debt experience and current market conditions. Allowance for Losses Progression (In Thousands) 2016 2015 2014 Beginning balance January 1 $ 2,065 $ 2,065 $ 2,065 (Write offs) of bad debts, net of collections of previous write offs (29 ) — — Ending balance at December 31 $ 2,036 $ 2,065 $ 2,065 Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. At December 31, 2016 and 2015 , the Company’s cash equivalents consisted of investments in money market accounts with the Company’s banks. Inventories Inventories are stated at the lower of cost, using the last-in, first-out (LIFO) method, or market. The Company evaluates the market value of its raw materials, work-in-process and finished goods inventory primarily based upon current raw material and finished goods prices at the end of each period. Property, Plant, and Equipment Depreciation of property, plant and equipment for financial reporting is provided on the straight-line method over the estimated useful lives of the respective assets as follows: buildings and improvements, 15 to 39 years; machinery and equipment, 3 to 20 years; and furniture and fixtures, 3 to 15 years. Accelerated cost recovery methods are used for tax purposes. Repairs and maintenance costs are expensed as incurred. Stock-Based Compensation The Company follows the fair value based method in accounting for equity-based compensation. Under the fair value based method, compensation cost is measured at the grant date based on the fair value of the award and is recognized on a straight-line basis over the related service period. Excess tax benefits on stock-based compensation are recognized as an increase to additional paid-in capital and as a part of cash flows from financing activities. ASC 718 requires the estimation of forfeitures when recognizing compensation expense and adjustment of the estimated forfeiture rate over the requisite service period should actual forfeitures differ from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change and impacts the amount of un-recognized compensation expense to be recorded in future periods. Earnings Per Share Earnings per common and common equivalent share is computed using the weighted average number of shares of common stock and common stock equivalents outstanding during each period. The dilutive effects of stock options, which are common stock equivalents, are calculated using the treasury stock method. Income Taxes Income taxes are provided for based on the liability method, resulting in deferred income tax assets and liabilities arising due to temporary differences. Temporary differences are differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future years. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period the change in rate is enacted. Comprehensive Income Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. There were no differences between comprehensive income and reported income in the periods presented. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. We are currently evaluating the provisions of this ASU and assessing the impact, if any, it may have on our financial position and results of operations. As part of our assessment work to-date, our team has taken training of the new ASU's revenue recognition model and begun sales terms review and documentation. The standard is effective for annual and interim periods beginning January 1, 2018. We currently expect to apply the modified retrospective method of adoption at that time.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following as of December 31: In Thousands 2016 2015 Raw materials $ 23,144 $ 26,245 Work-in-process 20,889 20,155 Finished goods 81,764 70,348 Total 125,797 116,748 Adjust to LIFO cost (32,523 ) (21,494 ) Inventory $ 93,274 $ 95,254 During 2016, the Company liquidated portions of the inventory layers established in 2015 in both the copper and aluminum wire pools. In both pools, the liquidation had an insignificant effect on the net income of the Company. During 2015 and 2014, the Company did not liquidate any LIFO inventory layers established in prior years.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2016
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following as of December 31: In Thousands 2016 2015 Sales volume discounts payable $ 13,590 $ 13,193 Property taxes payable 3,932 3,444 Commissions payable 2,157 1,939 Accrued salaries 6,198 5,801 Other accrued liabilities 2,109 1,122 Total accrued liabilities $ 27,986 $ 25,499

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt At December 31, 2016 and 2015 , the Company had no debt outstanding. The Company is party to a Credit Agreement (as amended, the “Credit Agreement”) with two banks, Bank of America, N.A., as administrative agent and letter of credit issuer, and Wells Fargo Bank, National Association as syndication agent. The Credit Agreement extends through October 1, 2021 , and provides for maximum borrowings of $150.0 million . In the third quarter of 2016, the Company signed a Third Amendment to the Credit Agreement, which, along with other minor changes, eliminated the restriction of maximum borrowings based on the amount of eligible accounts receivable plus the amount of eligible finished goods and raw materials, less any reserves established by the banks. Additionally, at our request and subject to certain conditions, the commitments under the Credit Agreement may be increased by a maximum of up to $100.0 million as long as existing or new lenders agree to provide such additional commitments. Borrowings under the line of credit bear interest, at the Company’s option, at either (1) LIBOR plus a margin that varies from 0.875% to 1.75% depending upon the Leverage Ratio (as defined in the Credit Agreement), or (2) the base rate (which is the highest of the federal funds rate plus 0.5% , the prime rate, or LIBOR plus 1.0% ) plus 0% to 0.25% (depending upon the Leverage Ratio). A commitment fee ranging from 0.15% to 0.30% (depending upon the Leverage Ratio) is payable on the unused line of credit. At December 31, 2016 , there were no borrowings outstanding under the Credit Agreement, and letters of credit outstanding in the amount of $1.0 million left $149.0 million of credit available under the Credit Agreement. Obligations under the Credit Agreement are the only contractual borrowing obligations or commercial borrowing commitments of the Company. Obligations under the Credit Agreement are unsecured and contain customary covenants and events of default. The Company was in compliance with the covenants as of December 31, 2016 . The Company paid interest totaling $0.2 million , $0.3 million and $0.3 million in 2016 , 2015 and 2014 , respectively, none of which was capitalized.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provisions for income tax expense are summarized as follows for the years ended December 31: In Thousands 2016 2015 2014 Current: Federal $ 17,139 $ 7,918 $ 15,742 State 1,098 546 943 Deferred: Federal (905 ) 16,486 2,222 State (357 ) (171 ) 127 Total Income Tax Expense $ 16,975 $ 24,779 $ 19,034 The differences between the provision for income taxes and income taxes computed using the federal income tax rate are as follows for the years ended December 31: In Thousands 2016 2015 2014 Amount computed using the statutory rate $ 17,769 $ 25,334 $ 19,655 State income taxes, net of federal tax benefit 482 244 691 Qualified domestic production activity deduction (1,712 ) (859 ) (1,698 ) Other items 436 60 386 Total Income Tax Expense $ 16,975 $ 24,779 $ 19,034 In October 2004, the American Jobs Creation Act of 2004 (“the Act”) was passed, which provides a deduction for income from qualified domestic production activities. This deduction lowered the Company’s effective tax rate by approximately 3.4% , 1.2% , and 3.0% for 2016 , 2015 and 2014 , respectively. The tax effect of each type of temporary difference giving rise to the net deferred tax liability at December 31, 2016 and 2015 is as follows: In Thousands 2016 2015 Depreciation $ (30,845 ) $ (26,892 ) Inventory (5,807 ) (10,101 ) Allowance for doubtful accounts 738 749 Uniform capitalization rules 932 145 Other 1,009 864 Deferred income tax liability $ (33,973 ) $ (35,235 ) The Company made income tax payments of $6.7 million in 2016 , $14.0 million in 2015 and $20.0 million in 2014 . The Company’s federal income tax returns for the years subsequent to December 31, 2012 remain subject to examination. The Company’s income tax returns in major state income tax jurisdictions remain subject to examination for various periods subsequent to December 31, 2011. The Company has no reserves for uncertain tax positions as of December 31, 2016 and 2015 . Interest and penalties resulting from audits by tax authorities have been immaterial and are included in the provision for income taxes in the consolidated statements of income. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740) - Balance Sheet Classification of Deferred Taxes.” ASU No. 2015-17 eliminates the requirement to classify deferred tax assets and liabilities as current or long-term based on how the related assets or liabilities are classified. All deferred taxes are now required to be classified as long-term, including any associated valuation allowances. This guidance is effective for public companies for fiscal years beginning after December 15, 2016 with early adoption permitted on either a prospective or retrospective basis. We adopted this ASU retrospectively on December 31, 2016, and have reclassified deferred income taxes current liabilities of $8.5 million as of December 31, 2015 to deferred income taxes non-current liabilities.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Total stock-based compensation expense by type of award was as follows for the years ended December 31: In Thousands 2016 2015 2014 Stock options $ 791 $ 658 $ 488 Stock appreciation rights (“SARs”) 805 144 215 Total stock-based compensation expense $ 1,596 $ 802 $ 703 Tax benefit on exercise of stock options $ 60 $ 40 $ 123 Stock Options: In 2010, the Board of Directors adopted a new stock option plan called the Encore Wire 2010 Stock Option Plan (the “2010 Stock Option Plan”) which was approved by the Company’s stockholders at the 2010 Annual Meeting of Stockholders. Similar to the “1999 Stock Option Plan,” which expired on June 28, 2009, the 2010 Stock Option Plan permits the grant of stock options to directors, officers and employees of the Company. The Company granted stock option awards in 2016, 2015 and 2014 with exercise prices equal to the fair market value of its stock on the date of grant of the options. These options vest ratably over a period of five years from the time the options were granted. The maximum term of any option granted under the 1999 or 2010 Stock Option Plan is ten years . New shares are issued upon the exercise of options. As of December 31, 2016 , 172,300 options were available to be granted in the future under the 2010 Stock Option Plan. The following presents a summary of stock option activity for the year ended December 31, 2016 : Number Weighted Weighted Aggregate Outstanding at January 1, 2016 320,887 $ 30.25 Granted 80,000 34.79 Exercised (47,487 ) 29.34 Forfeited/Canceled (2,000 ) 21.12 Outstanding at December 31, 2016 351,400 $ 31.28 5.9 years $ 4,647 Vested and exercisable at December 31, 2016 179,599 $ 26.64 3.9 years $ 3,164 The fair value of stock options granted during the years ended December 31, 2016 , 2015 , and 2014 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.46 % 1.22 % 1.57 % Expected dividend yield 0.23 % 0.25 % 0.15 % Expected volatility 32.9 % 31.9 % 32.9 % Expected lives 5.0 years 5.0 years 5.0 years We base expected volatilities on historical volatilities of our common stock. The expected life represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting periods and management’s consideration of historical exercise patterns. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding to the expected life of the option. The expected dividend yield is based on the annualized dividend payment paid on common shares. During the years ended December 31, 2016 , 2015 , and 2014 , the weighted average grant date fair value of options granted was $10.64 , $9.25 and $16.03 , respectively, and the total intrinsic value of options exercised was $0.5 million , $0.7 million and $0.7 million , respectively. As of December 31, 2016 , total unrecognized compensation cost related to non-vested stock options of $1.0 million was expected to be recognized over a weighted average period of 3.2 years . Stock Appreciation Rights: In 2014, the Board of Directors adopted a new stock appreciation rights plan called the Encore Wire 2014 Stock Appreciation Rights Plan (the “2014 SARs Plan”). The 2014 SARs Plan permits the grant of stock appreciation rights ("SARs") that may only be settled in cash to non-executive officers and employees of the Company. The Company granted SARs for the first time in 2014 for a nominal amount. Additional SARs were granted in 2016. SARs granted to employees vest ratably over a period of five years from the time the SARs were granted. The maximum term of any SARs granted under the 2014 SARs Plan is ten years. These awards are classified as liability awards. The liability balance was $1.2 million and $0.4 million at December 31, 2016 and 2015, respectively. Compensation cost for these awards is determined using a fair value method and remeasured at each reporting date until the date of settlement. Stock-based compensation expense recognized is based on SARs ultimately expected to vest, and therefore it has been reduced for estimated forfeitures. As of December 31, 2016 , a total of 226,500 SARs were outstanding under the 2014 SARs Plan. The following presents a summary of SARs activity for the year ended December 31, 2016 : Cash-settled SARs Weighted Weighted Aggregate Outstanding at January 1, 2016 133,000 $ 41.59 Granted 142,000 34.79 Exercised (1,000 ) 41.59 Forfeited/Canceled (47,500 ) 38.51 Outstanding at December 31, 2016 226,500 $ 37.97 8.4 years $ 1,218 Vested and exercisable at December 31, 2016 42,400 $ 41.59 7.6 years $ 75 The fair value of SARs granted during the years ended December 31, 2016 , 2015 , and 2014 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.53 % 1.39 % 1.60 % Expected dividend yield 0.18 % 0.22 % 0.21 % Expected volatility 33.25 % 30.30 % 32.10 % Expected lives 3.4 years 3.2 years 4.6 years We base expected volatilities on historical volatilities of our common stock. The expected life represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting periods and management’s consideration of historical exercise patterns. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding to the expected life of the option. The expected dividend yield is based on the annualized dividend payment paid on common shares. During the years ended December 31, 2016 , 2015 , and 2014 , the weighted average grant date fair value of SARs granted was $13.36 , $7.33 and $9.38 , respectively, and the total intrinsic value of SARs exercised was negligible in 2016. No SARs were exercised in 2015 and 2014. As of December 31, 2016, total unrecognized compensation cost related to non-vested SARs of $1.9 million was expected to be recognized over a weighted average period of 3.4 years .

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth certain components of the computation of basic and diluted earnings per share for the year ended December 31: In Thousands 2016 2015 2014 Numerator: Net income $ 33,839 $ 47,605 $ 37,123 Denominator: Denominator for basic earnings per share – weighted average shares 20,704 20,713 20,714 Effect of dilutive securities: Employee stock options 69 74 107 Denominator for diluted earnings per share – weighted average shares 20,773 20,787 20,821 Stock options to purchase common stock at exercise prices in excess of the average actual stock price for the period that were anti-dilutive and that were excluded from the determination of diluted earnings per share are as follows: In Thousands, Except Per Share Data 2016 2015 2014 Weighted average anti-dilutive stock options 143 96 54 Weighted average exercise price per share $ 40.39 $ 43.43 $ 49.90

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity On November 10, 2006, the Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to an authorized number of shares of its common stock on the open market or through privately negotiated transactions at prices determined by the President of the Company during the term of the program. The Company’s Board of Directors has authorized several increases and annual extensions of this stock repurchase program, and, as of December 31, 2016 , 1,132,946 shares remained authorized for repurchase through March 31, 2018. The Company did not repurchase any shares of its stock in 2016 and 2014. The Company repurchased 92,804 shares of its stock in the third quarter of 2015, its only purchases in 2015. The Company also has a broker agreement to repurchase stock in the open market at certain trigger points pursuant to a Rule 10b5-1 plan announced on November 28, 2007.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is from time to time involved in litigation, certain other claims and arbitration matters arising in the ordinary course of its business. The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of the probability of a loss and the determination as to whether a loss is reasonably estimable. Any such accruals are reviewed at least quarterly and adjusted to reflect the effects of negotiations, settlements, rulings, advice of legal counsel and technical experts and other information and events pertaining to a particular matter. To the extent there is a reasonable possibility (within the meaning of ASC 450) that probable losses could exceed amounts already accrued, if any, and the additional loss or range of loss is able to be estimated, management discloses the additional loss or range of loss. For matters where the Company has evaluated that a loss is not probable, but is reasonably possible, the Company will disclose an estimate of the possible loss or range of loss or make a statement that such an estimate cannot be made. In some instances, for reasonably possible losses, the Company cannot estimate the possible loss or range of loss. The nature and progression of litigation can make it difficult to predict the impact a particular lawsuit will have on the Company. There are many reasons that the Company cannot make these assessments, including, among others, one or more of the following: the early stages of a proceeding; damages sought that are unspecified, unsupportable, unexplained or uncertain; discovery is incomplete; the complexity of the facts that are in dispute; the difficulty of assessing novel claims; the parties not having engaged in any meaningful settlement discussions; the possibility that other parties may share in any ultimate liability; and/or the often slow pace of litigation. On July 7, 2009, Southwire Company, a Delaware corporation (“Southwire”), filed a complaint for patent infringement against the Company and Cerro Wire, Inc. (“Cerro”) in the United States District Court for the Eastern District of Texas. In the complaint, Southwire alleged that the Company infringed one or more claims of United States Patent No. 7,557,301 (the “301 Patent”), entitled “Method of Manufacturing Electrical Cable Having Reduced Required Force for Installation,” by making and selling electrical cables, including the Company’s Super Slick cables. The case has been transferred to the Northern District of Georgia and the parties have agreed to stay it pending reexamination of the 301 Patent by the United States Patent and Trademark Office. One reexamination proceeding - a reexamination request by Cerro - remains pending. In that reexamination, the examiner rejected all the claims, and the Patent Trial and Appeal Board affirmed the examiner's rejection. Southwire appealed the decision to the Federal Circuit, and that appeal is ongoing. The potentially applicable factual and legal issues related to the above claims asserted against the Company have not been resolved. The Company disputes all of Southwire’s claims and alleged damages and intends to vigorously defend the lawsuits and vigorously pursue its own claims against Southwire if and when the litigation resumes. At this time, given the status of the proceedings, the complexities of the facts in dispute and the multiple claims involved, the Company has not concluded that a probable loss exists with respect to the Southwire litigation. Accordingly, no accrual has been made. Additionally, given the aforementioned uncertainties, while it is reasonably possible we may incur a loss, the Company is unable to estimate any possible loss or range of losses for disclosure purposes.

Encore Wire Corporation 401(k)

Encore Wire Corporation 401(k) Profit Sharing Plan	12 Months Ended
	Dec. 31, 2016
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Encore Wire Corporation 401(k) Profit Sharing Plan	Encore Wire Corporation 401(k) Profit Sharing Plan The Company sponsors a tax qualified 401(k) profit sharing plan known as the Encore Wire Corporation 401(k) Profit Sharing Plan (the “401(k) Plan”) that is intended to provide participating employees an opportunity to save money for retirement. Effective January 1, 2015, employees are immediately eligible to participate in the 401(k) Plan and to receive matching contributions after attaining age 18 . Employees who do not take action to either enroll or decline to enroll in the 401(k) Plan within a 30 day notification period, are automatically enrolled in the Plan with a pre-tax contribution rate equal to 5% of their eligible compensation (as defined in the 401(k) Plan). Prior to January 1, 2015, the 401(k) Plan did not provide for automatic enrollment, and employees were eligible to participate in the 401(k) Plan and to receive matching contributions after attaining age 21 and completing one year of service (as defined in the 401(k) Plan). Eligible employees may elect to contribute between 1% and 50% of eligible compensation to the 401(k) Plan on a pre-tax basis, up to IRS limits. These employee contributions are called elective deferral contributions. The Company matches a portion of the elective deferral contributions made to the 401(k) Plan by eligible employees. The 401(k) Plan provides for a safe-harbor matching contribution equal to 100% of the first 3% of an employee’s eligible compensation contributed to the 401(k) Plan and 50% of the next 2% of eligible compensation contributed by such employee to the 401(k) Plan for the year. Employer safe harbor matching contributions made to the 401(k) Plan for eligible participants are 100% vested. The Company’s matching contributions were $1.9 million , $1.5 million and $0.9 million in years 2016 , 2015 and 2014 , respectively. At the discretion of its Board of Directors, the Company may, but is not required to, make profit-sharing contributions to the 401(k) Plan on behalf of its employees. The Company made no profit-sharing contributions for 2016 , 2015 or 2014 . Effective January 1, 2015, any profit-sharing contributions that are made to the 401(k) Plan will be 100% vested. Participants are permitted to choose how contributions made to the 401(k) Plan by or for them are invested. If a participant does not make an investment election, the contributions will be invested in the moderate risk tolerance based balanced portfolio which serves as the 401(k) Plan's qualified default investment alternative.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions For a minor portion of its freight requirements, the Company uses a freight carrier that is owned by a family member of one of the Company’s executive officers. During fiscal years 2016 , 2015 and 2014 , amounts paid to the affiliated freight carrier were not significant. The Company purchased certain finished goods inventory components from a company that was partially owned by a family member of an individual serving on the Board of Directors. The Company purchased these products from this company, which totaled approximately $10.3 million , $13.4 million and $13.1 million in 2016, 2015 and 2014, respectively. This supplier was sold during 2016 to a totally unrelated company. Therefore, this related party relationship ended in mid-2016. The Company obtains quotes and purchases these items from other vendors at prices that confirm that the Company is obtaining prices that are no less favorable than prices available from non-affiliated parties. These transactions were approved by the Audit Committee pursuant to Encore Wire Corporation’s Related Party Transactions Policy.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	Quarterly Financial Information (Unaudited) The following is a summary of the unaudited quarterly financial information for the two years ended December 31, 2016 and 2015 (in thousands, except per share data): Three Months Ended 2016 March 31 June 30 September 30 December 31 Net sales $ 225,544 $ 238,831 $ 237,168 $ 239,247 Gross profit 30,143 28,631 27,818 33,525 Net income 8,599 7,839 5,999 11,402 Earnings per common share – basic 0.42 0.38 0.29 0.55 Earnings per common share – diluted 0.41 0.38 0.29 0.55 Three Months Ended 2015 March 31 June 30 September 30 December 31 Net sales $ 250,262 $ 253,747 $ 262,756 $ 250,857 Gross profit 32,430 32,905 38,335 33,052 Net income 10,789 11,353 14,511 10,952 Earnings per common share – basic 0.52 0.55 0.70 0.53 Earnings per common share – diluted 0.52 0.54 0.70 0.53

Significant Accounting Polici20

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Business	Business The Company conducts its business in one segment – the manufacture of electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments, and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings. The Company sells its products primarily through 29 manufacturers’ representatives located throughout the United States and, to a lesser extent, through its own direct marketing efforts. The principal customers for Encore’s building wire are wholesale electrical distributors.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. Intercompany accounts and transactions have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Revenue from the sale of the Company’s products is recognized when goods are shipped to the customer, title and risk of loss are transferred, pricing is fixed or determinable and collection is reasonably assured. A provision for payment discounts and customer rebates is estimated based upon historical experience and other relevant factors and is recorded within the same period that the revenue is recognized.
Freight Expenses	Freight Expenses The Company classifies shipping and handling costs as a component of selling, general and administrative expenses.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Certain items are required to be measured at fair value on a recurring basis, primarily cash equivalents held in banks. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy is followed for disclosure to show the extent and level of judgment used to estimate fair value measurements: Level 1 – Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date. Level 2 – Inputs used to measure fair value, other than quoted prices included in Level 1, are either directly or indirectly observable as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data from actively quoted markets for substantially the full term of the financial instrument. Level 3 – Inputs used to measure fair value are unobservable inputs that are supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.
Concentrations of Credit Risk and Accounts Receivable	Concentrations of Credit Risk and Accounts Receivable Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high credit quality financial institutions. Accounts receivable represent amounts due from customers, primarily wholesale electrical distributors, related to the sale of the Company’s products. Such receivables are uncollateralized and are generally due from a diverse group of customers located throughout the United States. Encore has two customers, each of whom slightly exceed 10% of the Company's total sales. The Company establishes an allowance for losses based upon the makeup of the current portfolio, past bad debt experience and current market conditions. Allowance for Losses Progression (In Thousands) 2016 2015 2014 Beginning balance January 1 $ 2,065 $ 2,065 $ 2,065 (Write offs) of bad debts, net of collections of previous write offs (29 ) — — Ending balance at December 31 $ 2,036 $ 2,065 $ 2,065
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.
Inventories	Inventories Inventories are stated at the lower of cost, using the last-in, first-out (LIFO) method, or market. The Company evaluates the market value of its raw materials, work-in-process and finished goods inventory primarily based upon current raw material and finished goods prices at the end of each period.
Property, Plant, and Equipment	Property, Plant, and Equipment Depreciation of property, plant and equipment for financial reporting is provided on the straight-line method over the estimated useful lives of the respective assets as follows: buildings and improvements, 15 to 39 years; machinery and equipment, 3 to 20 years; and furniture and fixtures, 3 to 15 years. Accelerated cost recovery methods are used for tax purposes. Repairs and maintenance costs are expensed as incurred.
Stock-Based Compensation	Stock-Based Compensation The Company follows the fair value based method in accounting for equity-based compensation. Under the fair value based method, compensation cost is measured at the grant date based on the fair value of the award and is recognized on a straight-line basis over the related service period. Excess tax benefits on stock-based compensation are recognized as an increase to additional paid-in capital and as a part of cash flows from financing activities. ASC 718 requires the estimation of forfeitures when recognizing compensation expense and adjustment of the estimated forfeiture rate over the requisite service period should actual forfeitures differ from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change and impacts the amount of un-recognized compensation expense to be recorded in future periods.
Earnings Per Share	Earnings Per Share Earnings per common and common equivalent share is computed using the weighted average number of shares of common stock and common stock equivalents outstanding during each period. The dilutive effects of stock options, which are common stock equivalents, are calculated using the treasury stock method.
Income Taxes	Income Taxes Income taxes are provided for based on the liability method, resulting in deferred income tax assets and liabilities arising due to temporary differences. Temporary differences are differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future years. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period the change in rate is enacted.
Comprehensive Income	Comprehensive Income Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. There were no differences between comprehensive income and reported income in the periods presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. We are currently evaluating the provisions of this ASU and assessing the impact, if any, it may have on our financial position and results of operations. As part of our assessment work to-date, our team has taken training of the new ASU's revenue recognition model and begun sales terms review and documentation. The standard is effective for annual and interim periods beginning January 1, 2018. We currently expect to apply the modified retrospective method of adoption at that time.

Significant Accounting Polici21

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Allowance for Losses Progression	Allowance for Losses Progression (In Thousands) 2016 2015 2014 Beginning balance January 1 $ 2,065 $ 2,065 $ 2,065 (Write offs) of bad debts, net of collections of previous write offs (29 ) — — Ending balance at December 31 $ 2,036 $ 2,065 $ 2,065

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following as of December 31: In Thousands 2016 2015 Raw materials $ 23,144 $ 26,245 Work-in-process 20,889 20,155 Finished goods 81,764 70,348 Total 125,797 116,748 Adjust to LIFO cost (32,523 ) (21,494 ) Inventory $ 93,274 $ 95,254

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued liabilities consist of the following as of December 31: In Thousands 2016 2015 Sales volume discounts payable $ 13,590 $ 13,193 Property taxes payable 3,932 3,444 Commissions payable 2,157 1,939 Accrued salaries 6,198 5,801 Other accrued liabilities 2,109 1,122 Total accrued liabilities $ 27,986 $ 25,499

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Summary of Income Tax Expenses	The provisions for income tax expense are summarized as follows for the years ended December 31: In Thousands 2016 2015 2014 Current: Federal $ 17,139 $ 7,918 $ 15,742 State 1,098 546 943 Deferred: Federal (905 ) 16,486 2,222 State (357 ) (171 ) 127 Total Income Tax Expense $ 16,975 $ 24,779 $ 19,034
Summary of Differences Between Provision for Income Taxes and Income Taxes Computed Using Federal Income Tax Rate	The differences between the provision for income taxes and income taxes computed using the federal income tax rate are as follows for the years ended December 31: In Thousands 2016 2015 2014 Amount computed using the statutory rate $ 17,769 $ 25,334 $ 19,655 State income taxes, net of federal tax benefit 482 244 691 Qualified domestic production activity deduction (1,712 ) (859 ) (1,698 ) Other items 436 60 386 Total Income Tax Expense $ 16,975 $ 24,779 $ 19,034
Summary of Net Deferred Tax Liability	The tax effect of each type of temporary difference giving rise to the net deferred tax liability at December 31, 2016 and 2015 is as follows: In Thousands 2016 2015 Depreciation $ (30,845 ) $ (26,892 ) Inventory (5,807 ) (10,101 ) Allowance for doubtful accounts 738 749 Uniform capitalization rules 932 145 Other 1,009 864 Deferred income tax liability $ (33,973 ) $ (35,235 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Total Stock-Based Compensation Expense by Type of Award	Total stock-based compensation expense by type of award was as follows for the years ended December 31: In Thousands 2016 2015 2014 Stock options $ 791 $ 658 $ 488 Stock appreciation rights (“SARs”) 805 144 215 Total stock-based compensation expense $ 1,596 $ 802 $ 703 Tax benefit on exercise of stock options $ 60 $ 40 $ 123
Summary of Stock Option Activity	The following presents a summary of stock option activity for the year ended December 31, 2016 : Number Weighted Weighted Aggregate Outstanding at January 1, 2016 320,887 $ 30.25 Granted 80,000 34.79 Exercised (47,487 ) 29.34 Forfeited/Canceled (2,000 ) 21.12 Outstanding at December 31, 2016 351,400 $ 31.28 5.9 years $ 4,647 Vested and exercisable at December 31, 2016 179,599 $ 26.64 3.9 years $ 3,164
Stock Options Valuation Assumptions	The fair value of stock options granted during the years ended December 31, 2016 , 2015 , and 2014 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.46 % 1.22 % 1.57 % Expected dividend yield 0.23 % 0.25 % 0.15 % Expected volatility 32.9 % 31.9 % 32.9 % Expected lives 5.0 years 5.0 years 5.0 years
Summary of Stock Appreciation Rights Activity	The following presents a summary of SARs activity for the year ended December 31, 2016 : Cash-settled SARs Weighted Weighted Aggregate Outstanding at January 1, 2016 133,000 $ 41.59 Granted 142,000 34.79 Exercised (1,000 ) 41.59 Forfeited/Canceled (47,500 ) 38.51 Outstanding at December 31, 2016 226,500 $ 37.97 8.4 years $ 1,218 Vested and exercisable at December 31, 2016 42,400 $ 41.59 7.6 years $ 75
Stock Appreciation Rights Valuation Assumptions	The fair value of SARs granted during the years ended December 31, 2016 , 2015 , and 2014 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.53 % 1.39 % 1.60 % Expected dividend yield 0.18 % 0.22 % 0.21 % Expected volatility 33.25 % 30.30 % 32.10 % Expected lives 3.4 years 3.2 years 4.6 years

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth certain components of the computation of basic and diluted earnings per share for the year ended December 31: In Thousands 2016 2015 2014 Numerator: Net income $ 33,839 $ 47,605 $ 37,123 Denominator: Denominator for basic earnings per share – weighted average shares 20,704 20,713 20,714 Effect of dilutive securities: Employee stock options 69 74 107 Denominator for diluted earnings per share – weighted average shares 20,773 20,787 20,821
Anti-dilutive Excluded from Diluted Earnings Per Share	Stock options to purchase common stock at exercise prices in excess of the average actual stock price for the period that were anti-dilutive and that were excluded from the determination of diluted earnings per share are as follows: In Thousands, Except Per Share Data 2016 2015 2014 Weighted average anti-dilutive stock options 143 96 54 Weighted average exercise price per share $ 40.39 $ 43.43 $ 49.90

Quarterly Financial Informati27

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Summary of Unaudited Quarterly Financial Information	The following is a summary of the unaudited quarterly financial information for the two years ended December 31, 2016 and 2015 (in thousands, except per share data): Three Months Ended 2016 March 31 June 30 September 30 December 31 Net sales $ 225,544 $ 238,831 $ 237,168 $ 239,247 Gross profit 30,143 28,631 27,818 33,525 Net income 8,599 7,839 5,999 11,402 Earnings per common share – basic 0.42 0.38 0.29 0.55 Earnings per common share – diluted 0.41 0.38 0.29 0.55 Three Months Ended 2015 March 31 June 30 September 30 December 31 Net sales $ 250,262 $ 253,747 $ 262,756 $ 250,857 Gross profit 32,430 32,905 38,335 33,052 Net income 10,789 11,353 14,511 10,952 Earnings per common share – basic 0.52 0.55 0.70 0.53 Earnings per common share – diluted 0.52 0.54 0.70 0.53

Significant Accounting Polici28

Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)segmentrepresentativecustomer	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Significant Accounting Policies [Line Items]
Number of business segments | segment	1
Number of manufacturers' representatives | representative	29
Percentage of copper use in relation to cost of goods sold	65.20%	72.10%	74.70%
Percentage of aluminum use in relation to cost of goods sold	4.60%
Shipping and handling cost | $	$ 24.1	$ 22.7	$ 24.9
Buildings and Improvements | Minimum
Significant Accounting Policies [Line Items]
Property plant and equipment	15 years
Buildings and Improvements | Maximum
Significant Accounting Policies [Line Items]
Property plant and equipment	39 years
Machinery and Equipment | Minimum
Significant Accounting Policies [Line Items]
Property plant and equipment	3 years
Machinery and Equipment | Maximum
Significant Accounting Policies [Line Items]
Property plant and equipment	20 years
Furniture and Fixtures | Minimum
Significant Accounting Policies [Line Items]
Property plant and equipment	3 years
Furniture and Fixtures | Maximum
Significant Accounting Policies [Line Items]
Property plant and equipment	15 years
Customer Concentration Risk | Sales Revenue, Net
Significant Accounting Policies [Line Items]
Customer concentration risk, number of customers | customer	2

Significant Accounting Polici29

Significant Accounting Policies - Summary of Allowance for Losses Progression (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance January 1	$ 2,065	$ 2,065	$ 2,065
(Write offs) of bad debts, net of collections of previous write offs	(29)	0	0
Ending balance at December 31	$ 2,036	$ 2,065	$ 2,065

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventory, Net [Abstract]
Raw materials	$ 23,144	$ 26,245
Work-in-process	20,889	20,155
Finished goods	81,764	70,348
Total	125,797	116,748
Adjust to LIFO cost	(32,523)	(21,494)
Inventory	$ 93,274	$ 95,254

Accrued Liabilities (Detail)

Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accrued Liabilities, Current [Abstract]
Sales volume discounts payable	$ 13,590	$ 13,193
Property taxes payable	3,932	3,444
Commissions payable	2,157	1,939
Accrued salaries	6,198	5,801
Other accrued liabilities	2,109	1,122
Total accrued liabilities	$ 27,986	$ 25,499

Debt - Additional Information (

Debt - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)bank	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Debt outstanding	$ 0	$ 0
Number of banks to which the Company is party to a credit agreement | bank	2
Calculated maximum borrowings	$ 150,000,000
Available increase in borrowings under credit agreement	100,000,000
Outstanding borrowings	0
Letters of credit outstanding	1,000,000
Remaining borrowing capacity	149,000,000
Total interest paid	200,000	300,000	$ 300,000
Total interest capitalized	$ 0	$ 0	$ 0
Minimum | Credit Agreement
Line of Credit Facility [Line Items]
Percentage of commitment fee	0.15%
Maximum | Credit Agreement
Line of Credit Facility [Line Items]
Percentage of commitment fee	0.30%
Credit Agreement Interest Rate Option One | London Interbank Offered Rate (LIBOR) | Minimum | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.875%
Credit Agreement Interest Rate Option One | London Interbank Offered Rate (LIBOR) | Maximum | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.75%
Credit Agreement Interest Rate Option Two | Minimum | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument basis spread on base rate	0.00%
Credit Agreement Interest Rate Option Two | Maximum | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument basis spread on base rate	0.25%
Credit Agreement Interest Rate Option Two | London Interbank Offered Rate (LIBOR) | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.00%
Credit Agreement Interest Rate Option Two | Federal Funds Rate | Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.50%

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 17,139	$ 7,918	$ 15,742
State	1,098	546	943
Deferred:
Federal	(905)	16,486	2,222
State	(357)	(171)	127
Total Income Tax Expense	$ 16,975	$ 24,779	$ 19,034

Income Taxes - Summary of Diffe

Income Taxes - Summary of Differences Between Provision for Income Taxes and Income Taxes Computed Using Federal Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Amount computed using the statutory rate	$ 17,769	$ 25,334	$ 19,655
State income taxes, net of federal tax benefit	482	244	691
Qualified domestic production activity deduction	(1,712)	(859)	(1,698)
Other items	436	60	386
Total Income Tax Expense	$ 16,975	$ 24,779	$ 19,034

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percent reduction of effective tax rate due to Qualified Domestic Production Activities	3.40%	1.20%	3.00%
Income tax payments	$ 6,700,000	$ 14,000,000	$ 20,000,000
Reserve for uncertain tax positions	$ 0	0
Accounting Standards Update 2015-17
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax liabilities		$ 8,500,000

Income Taxes - Summary of Net D

Income Taxes - Summary of Net Deferred Tax Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Valuation and Qualifying Accounts Disclosure [Line Items]
Deferred income tax asset (liability), non-current	$ (33,973)	$ (35,235)
Depreciation
Valuation and Qualifying Accounts Disclosure [Line Items]
Deferred income tax asset (liability), current	(30,845)	(26,892)
Inventory
Valuation and Qualifying Accounts Disclosure [Line Items]
Deferred income tax asset (liability), current	(5,807)	(10,101)
Allowance for doubtful accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Deferred income tax asset (liability), current	738	749
Uniform capitalization rules
Valuation and Qualifying Accounts Disclosure [Line Items]
Deferred income tax asset (liability), current	932	145
Other
Valuation and Qualifying Accounts Disclosure [Line Items]
Deferred income tax asset (liability), non-current	$ 1,009	$ 864

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,596	$ 802	$ 703
Tax benefit on exercise of stock options	60	40	123
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	791	658	488
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 805	$ 144	$ 215

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vested period	5 years
Number of shares granted	80,000
Stock option expiration period	10 years
Options available to be granted	172,300
Weighted average grant date fair value of options (in usd per share)	$ 10.64	$ 9.25	$ 16.03
Total intrinsic value of options exercised	$ 500,000	$ 700,000	$ 700,000
Total unrecognized compensation cost related to non-vested stock options	$ 1,000,000
Weighted average period of compensation cost	3 years 2 months 27 days
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vested period	5 years
Stock option expiration period	10 years
Weighted average period of compensation cost	3 years 4 months 15 days
Liability balance	$ 1,200,000	$ 400,000
Stock appreciation rights outstanding (in shares)	226,500	133,000
Weighted average grant date fair value of SARs (in dollars per share)	$ 13.36	$ 7.33	$ 9.38
Intrinsic value of SARs exercised		$ 0	$ 0
Total unrecognized compensation cost related to non-vested SARs	$ 1,900,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Number of Shares
Number of shares outstanding, beginning balance | shares	320,887
Number of shares granted | shares	80,000
Number of shares exercised | shares	(47,487)
Number of shares forfeited/canceled | shares	(2,000)
Number of shares outstanding, ending balance | shares	351,400
Number of shares vested and exercisable | shares	179,599
Weighted Average Exercise Price
Weighted average exercise price outstanding, beginning balance (in usd per share) | $ / shares	$ 30.25
Weighted average exercise price, granted (in usd per share) | $ / shares	34.79
Weighted average exercise price, exercised (in usd per share) | $ / shares	29.34
Weighted average exercise price, forfeited/canceled (in usd per share) | $ / shares	21.12
Weighted average exercise price outstanding, ending balance (in usd per share) | $ / shares	31.28
Weighted average exercise price, vested and exercisable (in usd per share) | $ / shares	$ 26.64
Weighted average remaining contractual term, ending balance	5 years 10 months 18 days
Weighted average remaining contractual term, vested and exercisable	3 years 10 months 21 days
Aggregate intrinsic value ending balance | $	$ 4,647
Aggregate intrinsic value, vested and exercisable | $	$ 3,164

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options and Stock Appreciation Rights Valuation Assumptions (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	1.46%	1.22%	1.57%
Expected dividend yield (as a percent)	0.23%	0.25%	0.15%
Expected volatility (as a percent)	32.90%	31.90%	32.90%
Expected lives (as a percent)	5 years	5 years	5 years
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	1.53%	1.39%	1.60%
Expected dividend yield (as a percent)	0.18%	0.22%	0.21%
Expected volatility (as a percent)	33.25%	30.30%	32.10%
Expected lives (as a percent)	3 years 4 months 15 days	3 years 1 month 29 days	4 years 7 months 10 days

Stock-based Compensation - Su41

Stock-based Compensation - Summary of Stock Appreciation Rights Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Vested and exercisable (in shares)		179,599
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)	133,000
Granted (in shares)	142,000
Exercised (in shares)	(1,000)
Forfeited/Canceled (in shares)	(47,500)
Ending balance (in shares)	226,500
Vested and exercisable (in shares)		42,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Beginning balance (in dollars per share)	$ 37.97	$ 37.97	$ 41.59
Granted (in dollars per share)	34.79
Exercised (in dollars per share)	41.59
Forfeited/Canceled (in dollars per share)	38.51
Ending balance (in dollars per share)	$ 37.97
Vested and exercisable (in dollars per share)		$ 41.59
Outstanding, Weighted Average Contractual Term	8 years 4 months 15 days
Vested and exercisable, Weighted Average Contractual Term	7 years 7 months 12 days
Outstanding, Aggregate Intrinsic Value		$ 1,218
Vested and exercisable, Aggregate Intrinsic Value		$ 75

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Net Earnings (Loss) Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net income	$ 11,402	$ 5,999	$ 7,839	$ 8,599	$ 10,952	$ 14,511	$ 11,353	$ 10,789	$ 33,839	$ 47,605	$ 37,123
Denominator:
Denominator for basic earnings per share – weighted average shares									20,704	20,713	20,714
Effect of dilutive securities:
Employee stock options (in shares)									69	74	107
Denominator for diluted earnings per share – weighted average shares									20,773	20,787	20,821

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Excluded from Diluted Earnings Per Share (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Weighted average anti-dilutive stock options (in shares)	143	96	54
Weighted average exercise price per share (in usd per share)	$ 40.39	$ 43.43	$ 49.90

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Equity [Abstract]
Repurchase of common stock authorized remaining (shares)				1,132,946
Repurchase of common stock (shares)	92,804	0	0

Encore Wire Corporation 401(k45

Encore Wire Corporation 401(k) Profit Sharing Plan - Additional Information (Detail)	Jan. 01, 2015year	Dec. 31, 2016USD ($)year	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Defined contribution plan, age requirement | year	18	21
Defined contribution plan, notification period for change in 401(k) plan	30 days
Defined contribution plan, percentage of compensation automatically contributed	5.00%
Defined contribution plan, requisite service period		1 year
Defined contribution plan, minimum annual contributions per employee, percent		1.00%
Defined contribution plan, maximum annual contributions per employee, percent		50.00%
Defined contribution plan, employer matching contribution, percent of match, level one		100.00%
Defined contribution plan, employer matching contribution, percent, level one		3.00%
Defined contribution plan, employer matching contribution, percent of match, level two		50.00%
Defined contribution plan, employer matching contribution, percent, level two		2.00%
Defined contribution plan, employers matching contribution, vested percentage		100.00%
Defined contribution plan, cost recognized		$ 1,900,000	$ 1,500,000	$ 900,000
Defined contribution plan, employer discretionary contribution, amount		$ 0	$ 0	$ 0
Defined contribution plan, employers matching contribution, annual vesting percentage		100.00%

Related Party Transactions Narr

Related Party Transactions Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Purchases from related parties	$ 10.3	$ 13.4	$ 13.1

Quarterly Financial Informati47

Quarterly Financial Information (Unaudited) - Summary of Unaudited Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 239,247	$ 237,168	$ 238,831	$ 225,544	$ 250,857	$ 262,756	$ 253,747	$ 250,262	$ 940,790	$ 1,017,622	$ 1,166,979
Gross profit	33,525	27,818	28,631	30,143	33,052	38,335	32,905	32,430	120,117	136,722	124,977
Net income	$ 11,402	$ 5,999	$ 7,839	$ 8,599	$ 10,952	$ 14,511	$ 11,353	$ 10,789	$ 33,839	$ 47,605	$ 37,123
Earnings per common share - basic (in usd per share)	$ 0.55	$ 0.29	$ 0.38	$ 0.42	$ 0.53	$ 0.70	$ 0.55	$ 0.52	$ 1.63	$ 2.30	$ 1.79
Earnings per common share - diluted (in usd per share)	$ 0.55	$ 0.29	$ 0.38	$ 0.41	$ 0.53	$ 0.70	$ 0.54	$ 0.52	$ 1.63	$ 2.29	$ 1.78