Encore Wire (WIRE) 10-K 21 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 20, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	000-20278
Entity Registrant Name	ENCORE WIRE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2274963
Entity Address, Address Line One	1329 Millwood Road
Entity Address, City or Town	McKinney,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75069
City Area Code	972
Local Phone Number	562-9473
Title of 12(b) Security	Common Stock, par value $.01 per share
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1,000,071,726
Entity Common Stock, Shares Outstanding		20,998,461
Documents Incorporated by Reference	Listed below are documents, parts of which are incorporated herein by reference, and the part of this report into which the document is incorporated: (1) Proxy statement for the 2020 annual meeting of stockholders – Part III
Trading Symbol	WIRE
Entity Central Index Key	0000850460
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 230,965	$ 178,405
Accounts receivable, net of allowance of $1,801 and $2,030	223,098	235,353
Inventories	89,684	102,367
Income taxes receivable	3,602	1,389
Prepaid expenses and other	1,889	1,723
Total current assets	549,238	519,237
Property, plant and equipment – at cost:
Land and land improvements	52,354	51,169
Construction-in-progress	49,847	24,623
Buildings and improvements	152,536	151,758
Machinery and equipment	334,204	314,175
Furniture and fixtures	10,926	9,687
Total property, plant and equipment	599,867	551,412
Accumulated depreciation	(266,688)	(252,754)
Property, plant and equipment – net	333,179	298,658
Other assets	737	165
Total assets	883,154	818,060
Current liabilities:
Trade accounts payable	40,509	36,706
Accrued liabilities	34,787	36,866
Total current liabilities	75,296	73,572
Deferred income taxes and other	28,762	24,032
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	63,009	60,822
Treasury stock, at cost – 6,027,455 and 6,027,455 shares	(91,056)	(91,056)
Retained earnings	806,874	750,421
Total stockholders’ equity	779,096	720,456
Total liabilities and stockholders’ equity	$ 883,154	$ 818,060

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for bad debts	$ 1,801	$ 2,030
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)	26,939,403	26,906,603
Treasury stock (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, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net sales	$ 1,274,994	$ 1,288,683	$ 1,164,248
Cost of goods sold	1,109,023	1,098,961	1,008,073
Gross profit	165,971	189,722	156,175
Selling, general and administrative expenses	94,442	90,212	76,726
Operating income	71,529	99,510	79,449
Net interest and other income	4,199	2,174	427
Income before income taxes	75,728	101,684	79,876
Provision for income taxes	17,599	23,534	12,859
Net income	$ 58,129	$ 78,150	$ 67,017
Earnings per common and common equivalent share - basic (in usd per share)	$ 2.78	$ 3.75	$ 3.23
Earnings per common and common equivalent share - diluted (in usd per share)	$ 2.77	$ 3.74	$ 3.21
Weighted average common and common equivalent shares outstanding – basic	20,904	20,845	20,767
Weighted average common and common equivalent shares outstanding – diluted	20,990	20,910	20,847
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, 2016		26,763,000
Beginning 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)		42,000
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 58,129				58,129
Exercise of stock options (shares)	21,500	22,000
Exercise of stock options	$ 568		568
Stock-based compensation (shares)		11,000
Stock-based compensation	1,619		1,619
Dividend declared—$0.08 per share	(1,676)				(1,676)
Ending balance (shares) at Dec. 31, 2019		26,939,000
Ending balance at Dec. 31, 2019	$ 779,096	$ 269	$ 63,009	$ (91,056)	$ 806,874

Statements of Stockholders' E_2

Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income	$ 58,129	$ 78,150	$ 67,017
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,707	16,513	15,684
Deferred income taxes	3,376	3,033	(12,974)
Stock-based compensation attributable to equity awards	1,619	1,444	955
Other	754	(187)	(587)
Changes in operating assets and liabilities:
Accounts receivable	12,255	(6,468)	(44,030)
Inventories	12,683	(10,002)	909
Other assets	(229)	627	58
Trade accounts payable and accrued liabilities	2,040	165	25,004
Current income taxes receivable / payable	(2,213)	(1,685)	(4,023)
Net cash provided by operating activities	106,121	81,590	48,013
Investing Activities
Purchases of property, plant and equipment	(52,484)	(26,181)	(21,754)
Proceeds from sale of assets	28	116	1,064
Net cash used in investing activities	(52,456)	(26,065)	(20,690)
Financing Activities
Deferred financing fees	0	0	(1)
Borrowings from revolver	0	67,300	0
Repayments to revolver	0	(67,300)	0
Proceeds from issuance of common stock, net	568	1,186	1,948
Dividends paid	(1,673)	(1,668)	(1,661)
Excess tax benefits of options exercised	0	0	0
Net cash provided by (used in) financing activities	(1,105)	(482)	286
Net increase in cash and cash equivalents	52,560	55,043	27,609
Cash and cash equivalents at beginning of period	178,405	123,362	95,753
Cash and cash equivalents at end of period	$ 230,965	$ 178,405	$ 123,362

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
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 69.9%, 73.0% and 69.7% of the cost of goods sold during 2019, 2018 and 2017, 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 $33.9 million, $35.1 million and $26.2 million for the years ended December 31, 2019, 2018 and 2017, 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, 2019 and 2018, the carrying value of cash and cash equivalents, excluding certificates of deposit, approximated fair value, a Level 1 measurement. At December 31, 2019 and 2018, the carrying value of the Company’s certificates of deposit totaling $161.3 million and $100.7 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) 2019 2018 2017 Beginning balance January 1 $ 2,030 $ 2,028 $ 2,036 Write-offs of bad debts (230) — (11) Collection of previous write-offs 1 2 3 Ending balance at December 31 $ 1,801 $ 2,030 $ 2,028 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, 2019 and 2018, 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 awards, 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 (“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. The Company has a minimal number of leases, all of which are classified as operating. As a result of the adoption of ASU No. 2016-02, “Leases (Topic 842),” on January 1, 2019, and as of December 31, 2019, the Company recorded less than $1.0 million of right of use assets which are included in other non-current assets, and less than $1.0 million of total current and non-current lease liabilities, which are included in accounts payable and other non-current liabilities. We will evaluate any future lease commitments in conformance with ASU No. 2016-02. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326),” which makes significant changes to the accounting for credit losses on financial assets and disclosures about them. This ASU requires immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The guidance affects all entities in all industries and applies to a wide variety of financial assets, including trade receivables. The new standard will be effective for the Company beginning January 1, 2020. ASU 2016-13 permits only a modified retrospective approach without restatement. The effect of our adopting the new standard will not impact our financial statements materially.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following as of December 31: In Thousands 2019 2018 Raw materials $ 25,882 $ 28,455 Work-in-process 25,381 30,529 Finished goods 83,222 88,708 Total 134,485 147,692 Adjust to LIFO cost (44,801) (45,325) Inventory $ 89,684 $ 102,367 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, 2019
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following as of December 31: In Thousands 2019 2018 Sales rebates payable $ 16,622 $ 18,565 Property taxes payable 4,011 3,962 Accrued salaries 7,924 8,790 Other accrued liabilities 6,230 5,549 Total accrued liabilities $ 34,787 $ 36,866

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt At December 31, 2019 and 2018, 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, 2019, there were no borrowings outstanding under the Credit Agreement, and letters of credit outstanding in the amount of $1.5 million left $148.5 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, 2019. The Company paid interest totaling $0.2 million, $0.3 million and $0.2 million in 2019, 2018 and 2017, respectively, none of which was capitalized.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The 2017 Tax Act was signed into law on December 22, 2017. The 2017 Tax Act significantly revised the U.S. corporate income tax by, among other things, lowering the statutory corporate income 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 impact of the 2017 Tax Act on the Company's tax accruals of $13.5 million was 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 2019 2018 2017 Current: Federal $ 12,675 $ 18,523 $ 24,421 State 1,549 1,978 1,411 Deferred: Federal 3,260 2,603 (13,289) State 115 430 316 Total income tax expense $ 17,599 $ 23,534 $ 12,859 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 2019 2018 2017 Amount computed using the statutory rate $ 15,903 $ 21,354 $ 27,956 State income taxes, net of federal tax benefit 1,314 1,903 1,166 Qualified domestic production activity deduction — — (2,464) Effect of 2018 deferred rate change — — (13,463) Other 382 277 (336) Total income tax expense $ 17,599 $ 23,534 $ 12,859 The domestic production activity deduction reduced the Company’s effective tax rate 3.1% in 2017. 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 2019 2018 Depreciation $ (27,547) $ (23,559) Inventory (1,970) (2,650) Allowance for doubtful accounts 406 457 Uniform capitalization rules 265 470 Other 1,438 1,250 Net deferred income tax liability $ (27,408) $ (24,032) The Company made income tax payments of $16.4 million in 2019, $22.3 million in 2018 and $30.0 million in 2017. 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, 2019 and 2018. 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, 2019
Share-based Payment Arrangement [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 2019 2018 2017 Stock options $ 635 $ 1,209 $ 738 Stock appreciation rights (“SARs”) 2,906 894 1,543 Restricted Stock Awards 907 — — Stock grants 269 235 217 Total stock-based compensation expense $ 4,717 $ 2,338 $ 2,498 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. The 2010 Stock Option Plan permits the granting of securities in the form of unrestricted common stock, restricted common stock or options to purchase shares of common stock, to non-employee directors, officers and employees of the Company. The 2010 Stock Option Plan expired on February 20, 2020. We expect that a new equity incentive plan will be proposed in the Company's proxy statement to be voted on at the annual meeting of stockholders to be held on May 5, 2020. As of December 31, 2019, 399,800 securities remained available for grant in the form of unrestricted common stock, restricted common stock or options to purchase shares of common stock under the 2010 Stock Option Plan. Stock Options: No stock option awards were granted in 2019. The Company granted stock option awards in 2018 and 2017 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 2010 Stock Option Plan is ten years. New shares are issued upon the exercise of options. The following presents a summary of stock option activity for the year ended December 31, 2019: Number Weighted Weighted Aggregate Outstanding at January 1, 2019 415,000 $ 41.53 Exercised (21,500) 26.39 Outstanding at December 31, 2019 393,500 $ 42.36 6.2 years $ 5,918 Vested and exercisable at December 31, 2019 209,700 $ 40.21 5.2 years $ 3,604 No stock option awards were granted in 2019. The fair value of stock options granted in the years ended December 31, 2018 and 2017, 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 Risk-free interest rate 2.36 % 1.84 % Expected dividend yield 0.16 % 0.19 % Expected volatility 31.40 % 30.80 % Expected lives 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 and 2017, the weighted average grant date fair value of options granted was $15.95 and $12.46, respectively. During the years ended December 31, 2019, 2018 and 2017, the total intrinsic value of options exercised was $0.7 million, $0.9 million and $2.2 million, respectively. As of December 31, 2019, total unrecognized compensation cost related to non-vested stock options of $1.3 million was expected to be recognized over a weighted average period of 2.6 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 ten The following presents a summary of SARs activity for the year ended December 31, 2019: Cash-settled SARs Weighted Weighted Aggregate Outstanding at January 1, 2019 471,100 $ 44.56 Granted 230,500 52.07 Exercised (119,900) 41.51 Forfeited/Canceled (16,400) 47.56 Outstanding at December 31, 2019 565,300 $ 48.18 8.0 years $ 5,217 Vested and exercisable at December 31, 2019 68,400 $ 44.34 6.4 years $ 893 The fair value of SARs granted during the years ended December 31, 2019, 2018 and 2017, was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2019 2018 2017 Risk-free interest rate 1.62 % 2.53 % 2.01 % Expected dividend yield 0.14 % 0.16 % 0.16 % Expected volatility 28.46 % 30.83 % 31.90 % Expected lives 3.0 years 3.0 years 3.2 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, 2019, 2018 and 2017, the weighted average grant date fair value of SARs granted was $17.19, $14.94 and $16.09, respectively, and the total intrinsic value of SARs exercised was $2.1 million, $1.1 million, and $0.3 million, respectively. As of December 31, 2019, total unrecognized compensation cost related to non-vested SARs of $5.9 million was expected to be recognized over a weighted average period of 3.2 years. Restricted Stock Awards: During the year ended December 31, 2019, the Company granted 60,000 shares of restricted stock to employees pursuant to the 2010 Stock Option Plan, with a weighted grant date fair value of $54.49 per share. There were no restricted shares issued in either 2018 or 2017. As of December 31, 2019, there was $2.3 million of total unrecognized compensation cost related to unvested shares. That cost is expected to be recognized over a weighted-average period of 4.4 years. The total fair value of shares vested during the year ending December 31, 2019 was $0.5 million. The following presents a summary of restricted stock activity for the year ended December 31, 2019: Weighted Average Number of Shares Grant Date Fair Value Outstanding at January 1, 2019 — — Granted 60,000 $ 54.49 Vested (10,000) 51.94 Forfeited/Canceled — — Unvested at December 31, 2019 50,000 $ 55.00 Stock Grants: In June 2019, the Company granted 1,000 shares of stock to each of the 5 non-employee directors pursuant to the 2010 Stock Option Plan with a grant date fair value of $53.81 per share. 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, 2019
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 2019 2018 2017 Numerator: Net income $ 58,129 $ 78,150 $ 67,017 Denominator: Denominator for basic earnings per share – weighted average shares 20,904 20,845 20,767 Effect of dilutive securities: Employee stock awards 86 65 80 Denominator for diluted earnings per share – weighted average shares 20,990 20,910 20,847 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 2019 2018 2017 Weighted average anti-dilutive stock options 118 181 125 Weighted average exercise price per share $ 51.05 $ 50.20 $ 45.74

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders’ EquityOn 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, 2019, 1,132,946 shares remained authorized for repurchase through March 31, 2021. The Company did not repurchase any shares of its stock in 2019, 2018 or 2017. 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, 2019
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

Encore Wire Corporation 401(k)

Encore Wire Corporation 401(k) Profit Sharing Plan	12 Months Ended
	Dec. 31, 2019
Defined Contribution Plan [Abstract]
Encore Wire Corporation 401(k) Profit Sharing Plan	Encore Wire Corporation 401(k) Profit Sharing PlanThe 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 $2.5 million, $2.1 million and $1.9 million in 2019, 2018 and 2017, respectively.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (in thousands, except per share data): Three Months Ended 2019 March 31 June 30 September 30 December 31 Net sales $ 314,707 $ 336,866 $ 321,169 $ 302,252 Gross profit 41,326 45,910 42,988 35,747 Net income 13,411 17,782 16,401 10,535 Earnings per common share – basic 0.64 0.85 0.78 0.50 Earnings per common share – diluted 0.64 0.85 0.78 0.50 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

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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 ExpensesThe 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.
Cash and Cash Equivalents	Cash and Cash EquivalentsThe 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 CompensationCompensation 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 awards, 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 IncomeComprehensive 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 (“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. The Company has a minimal number of leases, all of which are classified as operating. As a result of the adoption of ASU No. 2016-02, “Leases (Topic 842),” on January 1, 2019, and as of December 31, 2019, the Company recorded less than $1.0 million of right of use assets which are included in other non-current assets, and less than $1.0 million of total current and non-current lease liabilities, which are included in accounts payable and other non-current liabilities. We will evaluate any future lease commitments in conformance with ASU No. 2016-02. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326),” which makes significant changes to the accounting for credit losses on financial assets and disclosures about them. This ASU requires immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The guidance affects all entities in all industries and applies to a wide variety of financial assets, including trade receivables. The new standard will be effective for the Company beginning January 1, 2020. ASU 2016-13 permits only a modified retrospective approach without restatement. The effect of our adopting the new standard will not impact our financial statements materially.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
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) 2019 2018 2017 Beginning balance January 1 $ 2,030 $ 2,028 $ 2,036 Write-offs of bad debts (230) — (11) Collection of previous write-offs 1 2 3 Ending balance at December 31 $ 1,801 $ 2,030 $ 2,028

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following as of December 31: In Thousands 2019 2018 Raw materials $ 25,882 $ 28,455 Work-in-process 25,381 30,529 Finished goods 83,222 88,708 Total 134,485 147,692 Adjust to LIFO cost (44,801) (45,325) Inventory $ 89,684 $ 102,367

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued liabilities consist of the following as of December 31: In Thousands 2019 2018 Sales rebates payable $ 16,622 $ 18,565 Property taxes payable 4,011 3,962 Accrued salaries 7,924 8,790 Other accrued liabilities 6,230 5,549 Total accrued liabilities $ 34,787 $ 36,866

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
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 2019 2018 2017 Current: Federal $ 12,675 $ 18,523 $ 24,421 State 1,549 1,978 1,411 Deferred: Federal 3,260 2,603 (13,289) State 115 430 316 Total income tax expense $ 17,599 $ 23,534 $ 12,859
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 2019 2018 2017 Amount computed using the statutory rate $ 15,903 $ 21,354 $ 27,956 State income taxes, net of federal tax benefit 1,314 1,903 1,166 Qualified domestic production activity deduction — — (2,464) Effect of 2018 deferred rate change — — (13,463) Other 382 277 (336) Total income tax expense $ 17,599 $ 23,534 $ 12,859
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 2019 2018 Depreciation $ (27,547) $ (23,559) Inventory (1,970) (2,650) Allowance for doubtful accounts 406 457 Uniform capitalization rules 265 470 Other 1,438 1,250 Net deferred income tax liability $ (27,408) $ (24,032)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [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 2019 2018 2017 Stock options $ 635 $ 1,209 $ 738 Stock appreciation rights (“SARs”) 2,906 894 1,543 Restricted Stock Awards 907 — — Stock grants 269 235 217 Total stock-based compensation expense $ 4,717 $ 2,338 $ 2,498
Summary of Stock Option Activity	The following presents a summary of stock option activity for the year ended December 31, 2019: Number Weighted Weighted Aggregate Outstanding at January 1, 2019 415,000 $ 41.53 Exercised (21,500) 26.39 Outstanding at December 31, 2019 393,500 $ 42.36 6.2 years $ 5,918 Vested and exercisable at December 31, 2019 209,700 $ 40.21 5.2 years $ 3,604
Stock Options Valuation Assumptions	The fair value of stock options granted in the years ended December 31, 2018 and 2017, 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 Risk-free interest rate 2.36 % 1.84 % Expected dividend yield 0.16 % 0.19 % Expected volatility 31.40 % 30.80 % Expected lives 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, 2019: Cash-settled SARs Weighted Weighted Aggregate Outstanding at January 1, 2019 471,100 $ 44.56 Granted 230,500 52.07 Exercised (119,900) 41.51 Forfeited/Canceled (16,400) 47.56 Outstanding at December 31, 2019 565,300 $ 48.18 8.0 years $ 5,217 Vested and exercisable at December 31, 2019 68,400 $ 44.34 6.4 years $ 893
Stock Appreciation Rights Valuation Assumptions	The fair value of SARs granted during the years ended December 31, 2019, 2018 and 2017, was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions: Year Ended December 31, 2019 2018 2017 Risk-free interest rate 1.62 % 2.53 % 2.01 % Expected dividend yield 0.14 % 0.16 % 0.16 % Expected volatility 28.46 % 30.83 % 31.90 % Expected lives 3.0 years 3.0 years 3.2 years
Summary of Restricted Stock Activity	The following presents a summary of restricted stock activity for the year ended December 31, 2019: Weighted Average Number of Shares Grant Date Fair Value Outstanding at January 1, 2019 — — Granted 60,000 $ 54.49 Vested (10,000) 51.94 Forfeited/Canceled — — Unvested at December 31, 2019 50,000 $ 55.00

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
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 2019 2018 2017 Numerator: Net income $ 58,129 $ 78,150 $ 67,017 Denominator: Denominator for basic earnings per share – weighted average shares 20,904 20,845 20,767 Effect of dilutive securities: Employee stock awards 86 65 80 Denominator for diluted earnings per share – weighted average shares 20,990 20,910 20,847
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 2019 2018 2017 Weighted average anti-dilutive stock options 118 181 125 Weighted average exercise price per share $ 51.05 $ 50.20 $ 45.74

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (in thousands, except per share data): Three Months Ended 2019 March 31 June 30 September 30 December 31 Net sales $ 314,707 $ 336,866 $ 321,169 $ 302,252 Gross profit 41,326 45,910 42,988 35,747 Net income 13,411 17,782 16,401 10,535 Earnings per common share – basic 0.64 0.85 0.78 0.50 Earnings per common share – diluted 0.64 0.85 0.78 0.50 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

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)
Significant Accounting Policies [Line Items]
Number of business segments | segment	1
Percentage of copper use in relation to cost of goods sold	69.90%	73.00%	69.70%
Selling, general and administrative expenses	$ 94,442	$ 90,212	$ 76,726
Certificates of deposit	$ 161,300	100,700
Right-of-use asset				$ 1,000
Current lease liabilities				1,000
Long-term lease liabilities				$ 1,000
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	$ 33,900	$ 35,100	$ 26,200

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Allowance for Losses Progression (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance January 1	$ 2,030	$ 2,028	$ 2,036
Write-offs of bad debts	(230)	0	(11)
Collection of previous write-offs	1	2	3
Ending balance at December 31	$ 1,801	$ 2,030	$ 2,028

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Raw materials	$ 25,882	$ 28,455
Work-in-process	25,381	30,529
Finished goods	83,222	88,708
Total	134,485	147,692
Adjust to LIFO cost	(44,801)	(45,325)
Inventory	$ 89,684	$ 102,367

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Sales rebates payable	$ 16,622	$ 18,565
Property taxes payable	4,011	3,962
Accrued salaries	7,924	8,790
Other accrued liabilities	6,230	5,549
Total accrued liabilities	$ 34,787	$ 36,866

Debt (Details)

Debt (Details)	12 Months Ended
	Dec. 31, 2019USD ($)bank	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
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	1,500,000
Remaining borrowing capacity	148,500,000
Total interest paid	200,000	300,000	$ 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, 2019	Dec. 31, 2018	Dec. 31, 2017
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%
Income tax payments	$ 16,400,000	$ 22,300,000	$ 30,000,000
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, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ 12,675	$ 18,523	$ 24,421
State	1,549	1,978	1,411
Deferred:
Federal	3,260	2,603	(13,289)
State	115	430	316
Total income tax expense	$ 17,599	$ 23,534	$ 12,859

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, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Amount computed using the statutory rate	$ 15,903	$ 21,354	$ 27,956
State income taxes, net of federal tax benefit	1,314	1,903	1,166
Qualified domestic production activity deduction	0	0	(2,464)
Effect of 2018 deferred rate change	0	0	(13,463)
Other	382	277	(336)
Total income tax expense	$ 17,599	$ 23,534	$ 12,859

Income Taxes - Summary of Net D

Income Taxes - Summary of Net Deferred Tax Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Depreciation	$ (27,547)	$ (23,559)
Inventory	(1,970)	(2,650)
Allowance for doubtful accounts	406	457
Uniform capitalization rules	265	470
Other	1,438	1,250
Net deferred income tax liability	$ (27,408)	$ (24,032)

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense by Type of Award (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,717	$ 2,338	$ 2,498
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	635	1,209	738
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,906	894	1,543
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	907	0	0
Stock grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 269	$ 235	$ 217

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	1 Months Ended			12 Months Ended
	Jun. 30, 2019director$ / sharesshares	May 31, 2018director$ / sharesshares	May 31, 2017director$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options available to be granted (in shares) | shares				399,800
Stock option vested period				5 years
Stock option expiration period				10 years
Weighted average grant date fair value of options (in usd per share) | $ / shares	$ 53.81	$ 46.95	$ 43.40		$ 15.95	$ 12.46
Total intrinsic value of options exercised				$ 0.7	$ 0.9	$ 2.2
Total unrecognized compensation cost related to non-vested stock options				$ 1.3
Weighted average period of compensation cost				2 years 7 months 6 days
Stock granted to non-employee directors (in shares) | shares	1,000	1,000	1,000
Number of non-employee directors | director	5	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 2 months 12 days
Liability balance				$ 3.1	$ 2.3
Stock appreciation rights outstanding (in shares) | shares				565,300	471,100
Weighted average grant date fair value of SARs (in usd per share) | $ / shares				$ 17.19	$ 14.94	$ 16.09
Intrinsic value of SARs exercised				$ 2.1	$ 1.1	$ 0.3
Total unrecognized compensation cost related to non-vested SARs				$ 5.9
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of compensation cost				4 years 4 months 24 days
Weighted average grant date fair value of SARs (in usd per share) | $ / shares				$ 54.49
Total unrecognized compensation cost related to non-vested SARs				$ 2.3
Total fair value of shares vested during year				$ 0.5

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Number of Shares
Number of shares outstanding, beginning balance | shares	415,000
Number of shares exercised | shares	(21,500)
Number of shares outstanding, ending balance | shares	393,500
Number of shares vested and exercisable | shares	209,700
Weighted Average Exercise Price
Weighted average exercise price outstanding, beginning balance (in usd per share) | $ / shares	$ 41.53
Weighted average exercise price, exercised (in usd per share) | $ / shares	26.39
Weighted average exercise price outstanding, ending balance (in usd per share) | $ / shares	42.36
Weighted average exercise price, vested and exercisable (in usd per share) | $ / shares	$ 40.21
Weighted average remaining contractual term, ending balance	6 years 2 months 12 days
Weighted average remaining contractual term, vested and exercisable	5 years 2 months 12 days
Aggregate intrinsic value ending balance | $	$ 5,918
Aggregate intrinsic value, vested and exercisable | $	$ 3,604

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Options and Stock Appreciation Rights Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)		2.36%	1.84%
Expected dividend yield (as a percent)		0.16%	0.19%
Expected volatility (as a percent)		31.40%	30.80%
Expected lives (in 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)	1.62%	2.53%	2.01%
Expected dividend yield (as a percent)	0.14%	0.16%	0.16%
Expected volatility (as a percent)	28.46%	30.83%	31.90%
Expected lives (in years)	3 years	3 years	3 years 2 months 12 days

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Appreciation Rights Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Vested and exercisable (in shares)	209,700
Stock appreciation rights (“SARs”)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)	471,100
Granted (in shares)	230,500
Exercised (in shares)	(119,900)
Forfeited/Canceled (in shares)	(16,400)
Ending balance (in shares)	565,300
Vested and exercisable (in shares)	68,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Beginning balance (in dollars per share) | $ / shares	$ 44.56
Granted (in dollars per share) | $ / shares	52.07
Exercised (in dollars per share) | $ / shares	41.51
Forfeited/Canceled (in dollars per share) | $ / shares	47.56
Ending balance (in dollars per share) | $ / shares	48.18
Vested and exercisable (in dollars per share) | $ / shares	$ 44.34
Outstanding, weighted average contractual term (in years)	8 years
Vested and exercisable, weighted average contractual term (in years)	6 years 4 months 24 days
Outstanding, aggregate intrinsic value | $	$ 5,217
Vested and exercisable, aggregate intrinsic value | $	$ 893

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock Awards (Details) - Restricted Stock Awards	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Number of Shares
Outstanding at January 1, 2019 (in shares) | shares	0
Granted (in shares) | shares	60,000
Vested (in shares) | shares	(10,000)
Forfeited/Canceled (in shares) | shares	0
Unvested at December 31, 2019 (in shares) | shares	50,000
Weighted Average Grant Date Fair Value
Outstanding at January 1, 2019 (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	54.49
Vested (in dollars per share) | $ / shares	51.94
Forfeited/Canceled (in dollars per share) | $ / shares	0
Unvested at December 31, 2019 (in dollars per share) | $ / shares	$ 55

Earnings Per Share - Computatio

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, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income	$ 10,535	$ 16,401	$ 17,782	$ 13,411	$ 25,030	$ 23,678	$ 18,089	$ 11,353	$ 58,129	$ 78,150	$ 67,017
Denominator:
Denominator for basic earnings per share – weighted average shares									20,904	20,845	20,767
Effect of dilutive securities:
Employee stock options (in shares)									86	65	80
Denominator for diluted earnings per share – weighted average shares									20,990	20,910	20,847

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Excluded from Diluted Earnings Per Share (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Weighted average anti-dilutive stock options (in shares)	118	181	125
Weighted average exercise price per share (in usd per share)	$ 51.05	$ 50.20	$ 45.74

Stockholders' Equity (Details)

Stockholders' Equity (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Plan [Abstract]
Matching contributions made	$ 2.5	$ 2.1	$ 1.9

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 302,252	$ 321,169	$ 336,866	$ 314,707	$ 319,727	$ 340,732	$ 336,793	$ 291,431	$ 1,274,994	$ 1,288,683	$ 1,164,248
Gross profit	35,747	42,988	45,910	41,326	53,226	54,505	44,497	37,494	165,971	189,722	156,175
Net income	$ 10,535	$ 16,401	$ 17,782	$ 13,411	$ 25,030	$ 23,678	$ 18,089	$ 11,353	$ 58,129	$ 78,150	$ 67,017
Earnings per common share - basic (in usd per share)	$ 0.50	$ 0.78	$ 0.85	$ 0.64	$ 1.20	$ 1.14	$ 0.87	$ 0.54	$ 2.78	$ 3.75	$ 3.23
Earnings per common share - diluted (in usd per share)	$ 0.50	$ 0.78	$ 0.85	$ 0.64	$ 1.20	$ 1.13	$ 0.86	$ 0.54	$ 2.77	$ 3.74	$ 3.21