Encore Wire (WIRE) 10-K 25 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 21, 2019	Jun. 30, 2018
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY)	FY
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		20,879,148
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 832,604,533

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 178,405	$ 123,362
Accounts receivable, net of allowance of $2,030 and $2,028	235,353	228,885
Inventories	102,367	92,365
Income taxes receivable	1,389	0
Prepaid expenses and other	1,723	2,372
Total current assets	519,237	446,984
Property, plant and equipment – at cost:
Land and land improvements	51,169	51,024
Construction-in-progress	24,623	13,782
Buildings and improvements	151,758	150,603
Machinery and equipment	314,175	300,250
Furniture and fixtures	9,687	9,602
Total property, plant and equipment	551,412	525,261
Accumulated depreciation	(252,754)	(238,463)
Property, plant and equipment – net	298,658	286,798
Other assets	165	193
Total assets	818,060	733,975
Current liabilities:
Trade accounts payable	36,706	36,330
Accrued liabilities	36,866	35,005
Income taxes payable	0	296
Total current liabilities	73,572	71,631
Deferred income taxes	24,032	20,999
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 - 26,906,603 and 26,859,203	269	269
Additional paid-in capital	60,822	58,192
Treasury stock, at cost – 6,027,455 and 6,027,455 shares	(91,056)	(91,056)
Retained earnings	750,421	673,940
Total stockholders’ equity	720,456	641,345
Total liabilities and stockholders’ equity	$ 818,060	$ 733,975

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 2,030	$ 2,028
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)	26,906,603	26,859,203
Treasury stock, shares (in shares)	6,027,455	6,027,455

Statements of Income

Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 1,288,683	$ 1,164,248	$ 940,790
Cost of goods sold	1,098,961	1,008,073	820,673
Gross profit	189,722	156,175	120,117
Selling, general and administrative expenses	90,212	76,726	69,351
Operating income	99,510	79,449	50,766
Net interest and other income	2,174	427	48
Income before income taxes	101,684	79,876	50,814
Provision for income taxes	23,534	12,859	16,975
Net income	$ 78,150	$ 67,017	$ 33,839
Earnings per common and common equivalent share - basic (in usd per share)	$ 3.75	$ 3.23	$ 1.63
Earnings per common and common equivalent share - diluted (in usd per share)	$ 3.74	$ 3.21	$ 1.63
Weighted average common and common equivalent shares outstanding – basic	20,845	20,767	20,704
Weighted average common and common equivalent shares outstanding – diluted	20,910	20,847	20,773
Cash dividends declared per share (in usd per share)	$ 0.08	$ 0.08	$ 0.08

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings
Beginning balance (shares) at Dec. 31, 2015		26,715,000
Beginning 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)		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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67,017				67,017
Exercise of stock options (shares)		91,000
Exercise of stock options	1,927	$ 1	1,926
Stock-based compensation (shares)		5,000
Stock-based compensation	955		955
Dividend declared—$0.08 per share	(1,663)				(1,663)
Ending balance (shares) at Dec. 31, 2017		26,859,000
Ending balance at Dec. 31, 2017	641,345	$ 269	58,192	(91,056)	673,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 78,150				78,150
Exercise of stock options (shares)	42,400	42,000
Exercise of stock options	$ 1,186		1,186
Stock-based compensation (shares)		5,000
Stock-based compensation	1,444		1,444
Dividend declared—$0.08 per share	(1,669)				(1,669)
Ending balance (shares) at Dec. 31, 2018		26,906,000
Ending balance at Dec. 31, 2018	$ 720,456	$ 269	$ 60,822	$ (91,056)	$ 750,421

Statements of Stockholders' E_2

Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in usd per share)	$ 0.08	$ 0.08	$ 0.08

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities
Net income	$ 78,150	$ 67,017	$ 33,839
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,513	15,684	16,811
Deferred income taxes	3,033	(12,974)	(1,262)
Excess tax benefits of options exercised	0	0	(60)
Stock-based compensation attributable to equity awards	1,444	955	791
Other	(187)	(587)	1,294
Changes in operating assets and liabilities:
Accounts receivable	(6,468)	(44,030)	1,210
Inventories	(10,002)	909	1,980
Other assets	627	58	12
Trade accounts payable and accrued liabilities	165	25,004	(7,778)
Current income taxes receivable / payable	(1,685)	(4,023)	11,723
Net cash provided by operating activities	81,590	48,013	58,560
Investing Activities
Purchases of property, plant and equipment	(26,181)	(21,754)	(45,374)
Proceeds from sale of assets	116	1,064	3,792
Net cash used in investing activities	(26,065)	(20,690)	(41,582)
Financing Activities
Deferred financing fees	0	(1)	(197)
Proceeds from issuance of common stock, net	1,186	1,948	1,416
Dividends paid	(1,668)	(1,661)	(1,656)
Excess tax benefits of options exercised	0	0	60
Net cash provided by (used in) financing activities	(482)	286	(377)
Net increase in cash and cash equivalents	55,043	27,609	16,601
Cash and cash equivalents at beginning of period	123,362	95,753	79,152
Cash and cash equivalents at end of period	$ 178,405	$ 123,362	$ 95,753

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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 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 73.0% , 69.7% and 65.2% of the cost of goods sold during 2018 , 2017 and 2016 , 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. Basis of Presentation The Company's financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The financial statements include the accounts of the Company and its former wholly-owned subsidiary, which was dissolved in December 2018. For periods prior to the subsidiary's dissolution, all intercompany accounts and transactions were eliminated upon consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP 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 The majority of our revenue is derived by fulfilling customer orders for the purchase of our products, which include electrical building wire and cable. We recognize revenue at the point in time that control of the ordered products is transferred to the customer, which is typically upon shipment to the customer from our manufacturing facilities and based on agreed upon shipping terms on the related purchase order. Amounts billed and due from our customers are classified as accounts receivables on the balance sheet and require payment on a short-term basis through standard payment terms. Revenue is measured as the amount of consideration we expect to receive in exchange for fulfilling product orders. The amount of consideration we expect to receive and revenue we recognize includes estimates for trade payment discounts and customer rebates which are estimated using historical experience and other relevant factors and is recorded within the same period that the revenue is recognized. We review and update these estimates regularly and the impact of any adjustments are recognized in the period the adjustments are identified. The adjustments resulting from updated estimates of trade payment discounts and customer rebates were not material. Freight Expenses The Company classifies shipping and handling costs as a component of selling, general and administrative expenses. Shipping and handling costs were approximately $35.1 million , $26.2 million and $24.1 million for the years ended December 31, 2018 , 2017 and 2016 , 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, 2018 and 2017 , the carrying value of cash and cash equivalents, excluding certificates of deposit, approximated fair value, a Level 1 measurement. At December 31, 2018 and 2017 , the carrying value of the Company’s certificates of deposit totaling $100.7 million and $30.2 million , respectively, approximated fair value, a Level 2 measurement. 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 three customers, each of whom slightly exceeds 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) 2018 2017 2016 Beginning balance January 1 $ 2,028 $ 2,036 $ 2,065 Write-offs of bad debts — (11 ) (29 ) Collection of previous write-offs 2 3 — Ending balance at December 31 $ 2,030 $ 2,028 $ 2,036 Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. At December 31, 2018 and 2017 , the Company’s cash equivalents consisted of investments in money market accounts and certificates of deposit 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 Compensation cost for all equity-based compensation expected to vest is measured at fair value on the date of grant and recognized over the related service period. The fair value of stock awards is determined based on the number of shares granted and the quoted price of Encore’s common stock, and the fair value of stock options and stock appreciation rights is estimated on the date of grant using the Black-Scholes model. Such value is recognized as expense over the service period, net of estimated forfeitures, on a straight-line basis. To the extent actual forfeitures or updated estimates of forfeitures differ from management’s current estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised. 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 The Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) is the sole source of authoritative U.S. GAAP other than Securities and Exchange Commission ("SEC") issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standard Update (“ASU”) to communicate changes to the codification. The Company considers the applicability and impact of all ASUs. The following are those ASUs that are relevant to the Company. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (ASC 606),” which replaces numerous requirements in U.S. GAAP, including industry-specific requirements, and provides companies with a single revenue recognition model for recognizing revenue from contracts with customers. On January 1, 2018, we adopted the requirements of ASC 606 and all the related amendments to all of our contracts using the modified retrospective method. No adjustment was required to the opening balance of retained earnings at the date of initial application. The comparative information has also not been restated and continues to be reported under the accounting standards in effect for those periods. Additional disclosures required by ASC 606 are presented under Revenue Recognition above. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” Under the new guidance, a lessee will be required to recognize a right to use asset and a lease liability for all leases with terms of twelve months or longer. Lessor accounting remains largely consistent with existing U.S. generally accepted accounting principles. The new standard will be effective for us beginning January 1, 2019. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11 which provided a transition option that allows companies to continue applying the guidance under the current lease standard in the comparative periods presented in the financial statements. Companies that elect this option would record a cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. The Company has completed its assessment of Topic 842 and the related impact to the financial statements and disclosures and will adopt Topic 842 effective January 1, 2019 using the transition method provided by ASU 2018-11. The Company estimates the adoption will result in the recognition of a right-of-use asset and corresponding lease liability for operating leases of less than $1.0 million on the Balance Sheet. In preparation for the adoption, we have designed internal controls and information system functionality to enable the preparation of the necessary financial information and have reached conclusions on key accounting assessments.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following as of December 31: In Thousands 2018 2017 Raw materials $ 28,455 $ 32,928 Work-in-process 30,529 22,753 Finished goods 88,708 88,497 Total 147,692 144,178 Adjust to LIFO cost (45,325 ) (51,813 ) Inventory $ 102,367 $ 92,365 There were no liquidations of inventories that had a material impact on the Company’s results of operations for any period presented.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following as of December 31: In Thousands 2018 2017 Sales rebates payable $ 18,565 $ 17,386 Property taxes payable 3,962 3,802 Accrued salaries 8,790 8,318 Other accrued liabilities 5,549 5,499 Total accrued liabilities $ 36,866 $ 35,005

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt At December 31, 2018 and 2017 , 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 the Company's 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, 2018 , there were no borrowings outstanding under the Credit Agreement, and letters of credit outstanding in the amount of $1.3 million left $148.7 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, 2018 . The Company paid interest totaling $0.3 million , $0.2 million and $0.2 million in 2018 , 2017 and 2016 , respectively, none of which was capitalized.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Tax Cuts and Jobs Act of 2017 (“the 2017 Tax Act”) was signed into law on December 22, 2017. The 2017 Tax Act significantly revises the U.S. corporate income tax by, among other things, lowering the statutory corporate tax rate from 35% to 21%, eliminating certain deductions and introducing new tax regimes. The 2017 Tax Act also enhanced and extended through 2026 the option to claim accelerated depreciation deductions on qualified property. The Company has completed its determination of the accounting implications of the 2017 Tax Act on its tax accruals and has not recorded any material changes to the $13.5 million originally recorded. This amount is primarily comprised of the remeasurement of federal net deferred tax liabilities resulting from the permanent reduction in the U.S. statutory corporate tax rate to 21% from 35%. The provisions for income tax expense are summarized as follows for the years ended December 31: In Thousands 2018 2017 2016 Current: Federal $ 18,523 $ 24,421 $ 17,139 State 1,978 1,411 1,098 Deferred: Federal 2,603 (13,289 ) (905 ) State 430 316 (357 ) Total income tax expense $ 23,534 $ 12,859 $ 16,975 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 2018 2017 2016 Amount computed using the statutory rate $ 21,354 $ 27,956 $ 17,769 State income taxes, net of federal tax benefit 1,903 1,166 482 Qualified domestic production activity deduction — (2,464 ) (1,712 ) Effect of 2018 deferred rate change — (13,463 ) — Other 277 (336 ) 436 Total income tax expense $ 23,534 $ 12,859 $ 16,975 The domestic production activity deduction reduced the Company’s effective tax rate 3.1% and 3.4% in 2017 and 2016, respectively. The 2017 Tax Act eliminated the qualified domestic production activities deduction beginning in 2018. The tax effect of each type of temporary difference giving rise to the net deferred tax liability at December 31 is as follows: In Thousands 2018 2017 Depreciation $ (23,559 ) $ (22,121 ) Inventory (2,650 ) (486 ) Allowance for doubtful accounts 457 457 Uniform capitalization rules 470 610 Other 1,250 541 Deferred income tax liability $ (24,032 ) $ (20,999 ) The Company made income tax payments of $22.3 million in 2018 , $30.0 million in 2017 and $6.7 million in 2016 . The Company was audited by the IRS for the year 2015. The audit concluded with no adjustments. The Company’s federal income tax returns for the years subsequent to December 31, 2015 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, 2012. The Company has no reserves for uncertain tax positions as of December 31, 2018 and 2017 . Interest and penalties resulting from audits by tax authorities have been immaterial and are included in the provision for income taxes in the statements of income.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2018
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 2018 2017 2016 Stock options $ 1,209 $ 738 $ 791 Stock appreciation rights (“SARs”) 894 1,543 805 Stock grants 235 217 — Total stock-based compensation expense $ 2,338 $ 2,498 $ 1,596 Tax benefit on exercise of stock options $ — $ — $ 60 Stock Options: In 2010, the Board of Directors adopted a new stock option plan called the Encore Wire 2010 Stock Option Plan (As Amended and Restated Effective February 20, 2017) (the “2010 Stock Option Plan”) which was approved by the Company’s stockholders at the 2017 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 2018 , 2017 and 2016 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, 2018 , 474,800 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, 2018 : Number Weighted Weighted Aggregate Outstanding at January 1, 2018 339,900 $ 36.55 Granted 117,500 51.05 Exercised (42,400 ) 28.00 Outstanding at December 31, 2018 415,000 $ 41.53 6.9 years $ 3,762 Vested and exercisable at December 31, 2018 156,100 $ 36.88 5.1 years $ 2,133 The fair value of stock options granted during the years ended December 31, 2018 , 2017 and 2016 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2018 2017 2016 Risk-free interest rate 2.36 % 1.84 % 1.46 % Expected dividend yield 0.16 % 0.19 % 0.23 % Expected volatility 31.40 % 30.80 % 32.92 % Expected lives 5.0 years 5.0 years 5.0 years The Company bases expected volatilities on historical volatilities of Encore's 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, 2018 , 2017 and 2016 , the weighted average grant date fair value of options granted was $15.95 , $12.46 and $10.64 , respectively, and the total intrinsic value of options exercised was $0.9 million , $2.2 million and $0.5 million , respectively. As of December 31, 2018 , total unrecognized compensation cost related to non-vested stock options of $1.9 million was expected to be recognized over a weighted average period of 3.4 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 SARs that may only be settled in cash to non-executive officers and employees of the Company. 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 $2.3 million and $2.5 million at December 31, 2018 and 2017 , respectively, and are included in accrued liabilities. Compensation cost for these awards is determined using a fair value method and remeasured at each reporting date until the date of settlement. As of December 31, 2018 , a total of 471,100 SARs were outstanding under the 2014 SARs Plan. The following presents a summary of SARs activity for the year ended December 31, 2018 : Cash-settled SARs Weighted Weighted Aggregate Outstanding at January 1, 2018 366,900 $ 39.73 Granted 221,000 50.99 Exercised (77,800 ) 39.58 Forfeited/Canceled (39,000 ) 45.43 Outstanding at December 31, 2018 471,100 $ 44.56 8.0 years $ 2,816 Vested and exercisable at December 31, 2018 63,900 $ 39.95 6.4 years $ 653 The fair value of SARs granted during the years ended December 31, 2018 , 2017 and 2016 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2018 2017 2016 Risk-free interest rate 2.53 % 2.01 % 1.53 % Expected dividend yield 0.16 % 0.16 % 0.18 % Expected volatility 30.83 % 31.90 % 33.25 % Expected lives 3.0 years 3.2 years 3.4 years The Company bases expected volatilities on historical volatilities of Encore's 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, 2018 , 2017 and 2016 , the weighted average grant date fair value of SARs granted was $14.94 , $16.09 and $13.36 , respectively, and the total intrinsic value of SARs exercised was $1.1 million in 2018 , $0.3 million in 2017 , and negligible in 2016. As of December 31, 2018 , total unrecognized compensation cost related to non-vested SARs of $4.2 million was expected to be recognized over a weighted average period of 3.4 years . Stock Grants: In May 2018, the Company granted 1,000 shares of stock to each of the 5 non-employee directors, with a grant date fair value of $46.95 per share. In May 2017, the Company granted 1,000 shares of stock to each of the 5 non-employee directors, with a grant date fair value of $43.40 per share

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
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 years ended December 31: In Thousands 2018 2017 2016 Numerator: Net income $ 78,150 $ 67,017 $ 33,839 Denominator: Denominator for basic earnings per share – weighted average shares 20,845 20,767 20,704 Effect of dilutive securities: Employee stock options 65 80 69 Denominator for diluted earnings per share – weighted average shares 20,910 20,847 20,773 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 2018 2017 2016 Weighted average anti-dilutive stock options 181 125 143 Weighted average exercise price per share $ 50.20 $ 45.74 $ 40.39

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
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, 2018 , 1,132,946 shares remained authorized for repurchase through March 31, 2019 . The Company did not repurchase any shares of its stock in 2018 , 2017 or 2016 . 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, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies There are no material pending proceedings to which the Company is a party or to which any of its property is subject. However, 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 (Contingencies)) 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.

Encore Wire Corporation 401(k)

Encore Wire Corporation 401(k) Profit Sharing Plan	12 Months Ended
	Dec. 31, 2018
Defined Contribution Plan [Abstract]
Encore Wire Corporation 401(k) Profit Sharing Plan	Encore Wire Corporation 401(k) Profit Sharing Plan The Company sponsors a 401(k) profit sharing plan (the “Plan”) that permits eligible employees to make self-directed contributions of their compensation, a portion of which is matched by the Company, subject to applicable limitations. At the discretion of its Board of Directors, the Company may, but is not required to, make profit-sharing contributions to the Plan on behalf of its employees. The Company’s matching contributions were $2.1 million , $1.9 million and $1.9 million in 2018 , 2017 and 2016 , respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Prior to 2017, 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 purchases totaled approximately $10.3 million in 2016. This supplier was sold during 2016 to an unrelated company. Therefore, this related party relationship ended in mid-2016. The Company obtains quotes and purchases items from other vendors at prices that confirm that the Company obtains prices that are no less favorable than prices available from non-affiliated parties. Related party transactions are 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, 2018
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, 2018 and 2017 (in thousands, except per share data): Three Months Ended 2018 March 31 June 30 September 30 December 31 Net sales $ 291,431 $ 336,793 $ 340,732 $ 319,727 Gross profit 37,494 44,497 54,505 53,226 Net income 11,353 18,089 23,678 25,030 Earnings per common share – basic 0.54 0.87 1.14 1.20 Earnings per common share – diluted 0.54 0.86 1.13 1.20 Three Months Ended 2017 March 31 June 30 September 30 December 31 Net sales $ 279,392 $ 291,534 $ 292,030 $ 301,292 Gross profit 39,205 35,872 39,087 42,011 Net income 13,632 10,933 13,964 28,488 Earnings per common share – basic 0.66 0.53 0.67 1.37 Earnings per common share – diluted 0.65 0.52 0.67 1.36

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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 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	Basis of Presentation The Company's financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The financial statements include the accounts of the Company and its former wholly-owned subsidiary, which was dissolved in December 2018. For periods prior to the subsidiary's dissolution, all intercompany accounts and transactions were eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP 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 The majority of our revenue is derived by fulfilling customer orders for the purchase of our products, which include electrical building wire and cable. We recognize revenue at the point in time that control of the ordered products is transferred to the customer, which is typically upon shipment to the customer from our manufacturing facilities and based on agreed upon shipping terms on the related purchase order. Amounts billed and due from our customers are classified as accounts receivables on the balance sheet and require payment on a short-term basis through standard payment terms. Revenue is measured as the amount of consideration we expect to receive in exchange for fulfilling product orders. The amount of consideration we expect to receive and revenue we recognize includes estimates for trade payment discounts and customer rebates which are estimated using historical experience and other relevant factors and is recorded within the same period that the revenue is recognized. We review and update these estimates regularly and the impact of any adjustments are recognized in the period the adjustments are identified. The adjustments resulting from updated estimates of trade payment discounts and customer rebates were not material.
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 three customers, each of whom slightly exceeds 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) 2018 2017 2016 Beginning balance January 1 $ 2,028 $ 2,036 $ 2,065 Write-offs of bad debts — (11 ) (29 ) Collection of previous write-offs 2 3 — Ending balance at December 31 $ 2,030 $ 2,028 $ 2,036
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid 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 Compensation cost for all equity-based compensation expected to vest is measured at fair value on the date of grant and recognized over the related service period. The fair value of stock awards is determined based on the number of shares granted and the quoted price of Encore’s common stock, and the fair value of stock options and stock appreciation rights is estimated on the date of grant using the Black-Scholes model. Such value is recognized as expense over the service period, net of estimated forfeitures, on a straight-line basis. To the extent actual forfeitures or updated estimates of forfeitures differ from management’s current estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised.
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 The Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) is the sole source of authoritative U.S. GAAP other than Securities and Exchange Commission ("SEC") issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standard Update (“ASU”) to communicate changes to the codification. The Company considers the applicability and impact of all ASUs. The following are those ASUs that are relevant to the Company. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (ASC 606),” which replaces numerous requirements in U.S. GAAP, including industry-specific requirements, and provides companies with a single revenue recognition model for recognizing revenue from contracts with customers. On January 1, 2018, we adopted the requirements of ASC 606 and all the related amendments to all of our contracts using the modified retrospective method. No adjustment was required to the opening balance of retained earnings at the date of initial application. The comparative information has also not been restated and continues to be reported under the accounting standards in effect for those periods. Additional disclosures required by ASC 606 are presented under Revenue Recognition above.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Allowance for Losses Progression	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) 2018 2017 2016 Beginning balance January 1 $ 2,028 $ 2,036 $ 2,065 Write-offs of bad debts — (11 ) (29 ) Collection of previous write-offs 2 3 — Ending balance at December 31 $ 2,030 $ 2,028 $ 2,036

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following as of December 31: In Thousands 2018 2017 Raw materials $ 28,455 $ 32,928 Work-in-process 30,529 22,753 Finished goods 88,708 88,497 Total 147,692 144,178 Adjust to LIFO cost (45,325 ) (51,813 ) Inventory $ 102,367 $ 92,365

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued liabilities consist of the following as of December 31: In Thousands 2018 2017 Sales rebates payable $ 18,565 $ 17,386 Property taxes payable 3,962 3,802 Accrued salaries 8,790 8,318 Other accrued liabilities 5,549 5,499 Total accrued liabilities $ 36,866 $ 35,005

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
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 2018 2017 2016 Current: Federal $ 18,523 $ 24,421 $ 17,139 State 1,978 1,411 1,098 Deferred: Federal 2,603 (13,289 ) (905 ) State 430 316 (357 ) Total income tax expense $ 23,534 $ 12,859 $ 16,975
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 2018 2017 2016 Amount computed using the statutory rate $ 21,354 $ 27,956 $ 17,769 State income taxes, net of federal tax benefit 1,903 1,166 482 Qualified domestic production activity deduction — (2,464 ) (1,712 ) Effect of 2018 deferred rate change — (13,463 ) — Other 277 (336 ) 436 Total income tax expense $ 23,534 $ 12,859 $ 16,975
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 is as follows: In Thousands 2018 2017 Depreciation $ (23,559 ) $ (22,121 ) Inventory (2,650 ) (486 ) Allowance for doubtful accounts 457 457 Uniform capitalization rules 470 610 Other 1,250 541 Deferred income tax liability $ (24,032 ) $ (20,999 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
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 2018 2017 2016 Stock options $ 1,209 $ 738 $ 791 Stock appreciation rights (“SARs”) 894 1,543 805 Stock grants 235 217 — Total stock-based compensation expense $ 2,338 $ 2,498 $ 1,596 Tax benefit on exercise of stock options $ — $ — $ 60
Summary of Stock Option Activity	The following presents a summary of stock option activity for the year ended December 31, 2018 : Number Weighted Weighted Aggregate Outstanding at January 1, 2018 339,900 $ 36.55 Granted 117,500 51.05 Exercised (42,400 ) 28.00 Outstanding at December 31, 2018 415,000 $ 41.53 6.9 years $ 3,762 Vested and exercisable at December 31, 2018 156,100 $ 36.88 5.1 years $ 2,133
Stock Options Valuation Assumptions	The fair value of stock options granted during the years ended December 31, 2018 , 2017 and 2016 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2018 2017 2016 Risk-free interest rate 2.36 % 1.84 % 1.46 % Expected dividend yield 0.16 % 0.19 % 0.23 % Expected volatility 31.40 % 30.80 % 32.92 % 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, 2018 : Cash-settled SARs Weighted Weighted Aggregate Outstanding at January 1, 2018 366,900 $ 39.73 Granted 221,000 50.99 Exercised (77,800 ) 39.58 Forfeited/Canceled (39,000 ) 45.43 Outstanding at December 31, 2018 471,100 $ 44.56 8.0 years $ 2,816 Vested and exercisable at December 31, 2018 63,900 $ 39.95 6.4 years $ 653
Stock Appreciation Rights Valuation Assumptions	The fair value of SARs granted during the years ended December 31, 2018 , 2017 and 2016 , was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2018 2017 2016 Risk-free interest rate 2.53 % 2.01 % 1.53 % Expected dividend yield 0.16 % 0.16 % 0.18 % Expected volatility 30.83 % 31.90 % 33.25 % Expected lives 3.0 years 3.2 years 3.4 years

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
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 years ended December 31: In Thousands 2018 2017 2016 Numerator: Net income $ 78,150 $ 67,017 $ 33,839 Denominator: Denominator for basic earnings per share – weighted average shares 20,845 20,767 20,704 Effect of dilutive securities: Employee stock options 65 80 69 Denominator for diluted earnings per share – weighted average shares 20,910 20,847 20,773
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 2018 2017 2016 Weighted average anti-dilutive stock options 181 125 143 Weighted average exercise price per share $ 50.20 $ 45.74 $ 40.39

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 (in thousands, except per share data): Three Months Ended 2018 March 31 June 30 September 30 December 31 Net sales $ 291,431 $ 336,793 $ 340,732 $ 319,727 Gross profit 37,494 44,497 54,505 53,226 Net income 11,353 18,089 23,678 25,030 Earnings per common share – basic 0.54 0.87 1.14 1.20 Earnings per common share – diluted 0.54 0.86 1.13 1.20 Three Months Ended 2017 March 31 June 30 September 30 December 31 Net sales $ 279,392 $ 291,534 $ 292,030 $ 301,292 Gross profit 39,205 35,872 39,087 42,011 Net income 13,632 10,933 13,964 28,488 Earnings per common share – basic 0.66 0.53 0.67 1.37 Earnings per common share – diluted 0.65 0.52 0.67 1.36

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Significant Accounting Policies [Line Items]
Number of business segments | segment	1
Percentage of copper use in relation to cost of goods sold	73.00%	69.70%	65.20%
Selling, general and administrative expenses	$ 90,212	$ 76,726	$ 69,351
Certificates of deposit	$ 100,700	30,200
Buildings and Improvements | Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment (in years)	15 years
Buildings and Improvements | Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment (in years)	39 years
Machinery and Equipment | Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment (in years)	3 years
Machinery and Equipment | Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment (in years)	20 years
Furniture and Fixtures | Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment (in years)	3 years
Furniture and Fixtures | Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment (in years)	15 years
Customer Concentration Risk | Sales Revenue, Net
Significant Accounting Policies [Line Items]
Customer concentration risk, number of customers	3
Shipping and Handling
Significant Accounting Policies [Line Items]
Selling, general and administrative expenses	$ 35,100	$ 26,200	$ 24,100

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Allowance for Losses Progression (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance January 1	$ 2,028	$ 2,036	$ 2,065
Write-offs of bad debts	0	(11)	(29)
Collection of previous write-offs	2	3	0
Ending balance at December 31	$ 2,030	$ 2,028	$ 2,036

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Raw materials	$ 28,455	$ 32,928
Work-in-process	30,529	22,753
Finished goods	88,708	88,497
Total	147,692	144,178
Adjust to LIFO cost	(45,325)	(51,813)
Inventory	$ 102,367	$ 92,365

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accrued Liabilities, Current [Abstract]
Sales rebates payable	$ 18,565	$ 17,386
Property taxes payable	3,962	3,802
Accrued salaries	8,790	8,318
Other accrued liabilities	5,549	5,499
Total accrued liabilities	$ 36,866	$ 35,005

Debt (Details)

Debt (Details)	12 Months Ended
	Dec. 31, 2018USD ($)bank	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
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	1,300,000
Remaining borrowing capacity	148,700,000
Total interest paid	300,000	200,000	$ 200,000
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 - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Provisional tax benefit for impact of 2017 Tax Act		$ 13,500,000
Percent reduction of effective tax rate due to Qualified Domestic Production Activities		3.10%	3.40%
Income tax payments	$ 22,300,000	$ 30,000,000	$ 6,700,000
Reserve for uncertain tax positions	$ 0	$ 0

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 18,523	$ 24,421	$ 17,139
State	1,978	1,411	1,098
Deferred:
Federal	2,603	(13,289)	(905)
State	430	316	(357)
Total income tax expense	$ 23,534	$ 12,859	$ 16,975

Income Taxes - Summary of Diffe

Income Taxes - Summary of Differences Between Provision for Income Taxes and Income Taxes Computed Using Federal Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Amount computed using the statutory rate	$ 21,354	$ 27,956	$ 17,769
State income taxes, net of federal tax benefit	1,903	1,166	482
Qualified domestic production activity deduction	0	(2,464)	(1,712)
Effect of 2018 deferred rate change	0	(13,463)	0
Other	277	(336)	436
Total income tax expense	$ 23,534	$ 12,859	$ 16,975

Income Taxes - Summary of Net D

Income Taxes - Summary of Net Deferred Tax Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Depreciation	$ (23,559)	$ (22,121)
Inventory	(2,650)	(486)
Allowance for doubtful accounts	457	457
Uniform capitalization rules	470	610
Other	1,250	541
Deferred income tax liability	$ (24,032)	$ (20,999)

Stock-Based Compensation - Sto

Stock-Based Compensation - Stock-based Compensation Expense by Type of Award (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,338	$ 2,498	$ 1,596
Tax benefit on exercise of stock options	0	0	60
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,209	738	791
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	894	1,543	805
Stock grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 235	$ 217	$ 0

Stock-Based Compensation - Nar

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	1 Months Ended		12 Months Ended
	May 31, 2018director$ / sharesshares	May 31, 2017director$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vested period			5 years
Stock option expiration period			10 years
Options available to be granted (in shares) | shares			474,800
Weighted average grant date fair value of options (in usd per share) | $ / shares	$ 46.95	$ 43.40	$ 15.95	$ 12.46	$ 10.64
Total intrinsic value of options exercised			$ 0.9	$ 2.2	$ 0.5
Total unrecognized compensation cost related to non-vested stock options			$ 1.9
Weighted average period of compensation cost			3 years 4 months 22 days
Stock granted to non-employee directors (in shares) | shares	1,000	1,000	117,500
Number of non-employee directors | director	5	5
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 26 days
Liability balance			$ 2.3	$ 2.5
Stock appreciation rights outstanding (in shares) | shares			471,100	366,900
Weighted average grant date fair value of SARs (in usd per share) | $ / shares			$ 14.94	$ 16.09	$ 13.36
Intrinsic value of SARs exercised			$ 1.1	$ 0.3
Total unrecognized compensation cost related to non-vested SARs			$ 4.2

Stock-Based Compensation - Sum

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2018	May 31, 2017	Dec. 31, 2018
Number of Shares
Number of shares outstanding, beginning balance			339,900
Number of shares granted	1,000	1,000	117,500
Number of shares exercised			(42,400)
Number of shares outstanding, ending balance			415,000
Number of shares vested and exercisable			156,100
Weighted Average Exercise Price
Weighted average exercise price outstanding, beginning balance (in usd per share)			$ 36.55
Weighted average exercise price, granted (in usd per share)			51.05
Weighted average exercise price, exercised (in usd per share)			28
Weighted average exercise price outstanding, ending balance (in usd per share)			41.53
Weighted average exercise price, vested and exercisable (in usd per share)			$ 36.88
Weighted average remaining contractual term, ending balance			6 years 10 months 28 days
Weighted average remaining contractual term, vested and exercisable			5 years 1 month
Aggregate intrinsic value ending balance			$ 3,762
Aggregate intrinsic value, vested and exercisable			$ 2,133

Stock-Based Compensation - S_2

Stock-Based Compensation - Stock Options and Stock Appreciation Rights Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	2.36%	1.84%	1.46%
Expected dividend yield (as a percent)	0.16%	0.19%	0.23%
Expected volatility (as a percent)	31.40%	30.80%	32.92%
Expected lives (in years)	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)	2.53%	2.01%	1.53%
Expected dividend yield (as a percent)	0.16%	0.16%	0.18%
Expected volatility (as a percent)	30.83%	31.90%	33.25%
Expected lives (in years)	3 years	3 years 2 months 12 days	3 years 4 months 15 days

Stock-Based Compensation - S_3

Stock-Based Compensation - Summary of Stock Appreciation Rights Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Vested and exercisable (in shares)	156,100
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)	366,900
Granted (in shares)	221,000
Exercised (in shares)	(77,800)
Forfeited/Canceled (in shares)	(39,000)
Ending balance (in shares)	471,100
Vested and exercisable (in shares)	63,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Beginning balance (in dollars per share) | $ / shares	$ 39.73
Granted (in dollars per share) | $ / shares	50.99
Exercised (in dollars per share) | $ / shares	39.58
Forfeited/Canceled (in dollars per share) | $ / shares	45.43
Ending balance (in dollars per share) | $ / shares	44.56
Vested and exercisable (in dollars per share) | $ / shares	$ 39.95
Outstanding, weighted average contractual term (in years)	8 years
Vested and exercisable, weighted average contractual term (in years)	6 years 4 months 26 days
Outstanding, aggregate intrinsic value | $	$ 2,816
Vested and exercisable, aggregate intrinsic value | $	$ 653

Earnings Per Share - Computati

Earnings Per Share - Computation of Basic and Diluted Net Earnings (Loss) Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net income	$ 25,030	$ 23,678	$ 18,089	$ 11,353	$ 28,488	$ 13,964	$ 10,933	$ 13,632	$ 78,150	$ 67,017	$ 33,839
Denominator:
Denominator for basic earnings per share – weighted average shares									20,845	20,767	20,704
Effect of dilutive securities:
Employee stock options (in shares)									65	80	69
Denominator for diluted earnings per share – weighted average shares									20,910	20,847	20,773

Earnings Per Share - Anti-dilu

Earnings Per Share - Anti-dilutive Excluded from Diluted Earnings Per Share (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Weighted average anti-dilutive stock options (in shares)	181	125	143
Weighted average exercise price per share (in usd per share)	$ 50.20	$ 45.74	$ 40.39

Stockholders' Equity (Details)

Stockholders' Equity (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Equity [Abstract]
Repurchase of common stock authorized remaining (shares)	1,132,946
Repurchase of common stock (shares)	0	0	0

Encore Wire Corporation 401(k_2

Encore Wire Corporation 401(k) Profit Sharing Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan [Abstract]
Matching contributions made	$ 2.1	$ 1.9	$ 1.9

Related Party Transactions (Det

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

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 319,727	$ 340,732	$ 336,793	$ 291,431	$ 301,292	$ 292,030	$ 291,534	$ 279,392	$ 1,288,683	$ 1,164,248	$ 940,790
Gross profit	53,226	54,505	44,497	37,494	42,011	39,087	35,872	39,205	189,722	156,175	120,117
Net income	$ 25,030	$ 23,678	$ 18,089	$ 11,353	$ 28,488	$ 13,964	$ 10,933	$ 13,632	$ 78,150	$ 67,017	$ 33,839
Earnings per common share - basic (in usd per share)	$ 1.20	$ 1.14	$ 0.87	$ 0.54	$ 1.37	$ 0.67	$ 0.53	$ 0.66	$ 3.75	$ 3.23	$ 1.63
Earnings per common share - diluted (in usd per share)	$ 1.20	$ 1.13	$ 0.86	$ 0.54	$ 1.36	$ 0.67	$ 0.52	$ 0.65	$ 3.74	$ 3.21	$ 1.63