Masonite International (DOOR) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 29, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2020
Document Transition Report	false
Entity File Number	001-11796
Entity Registrant Name	Masonite International Corporation
Entity Tax Identification Number	98-0377314
Entity Address, Address Line One	2771 Rutherford Road
Entity Address, City or Town	Concord
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	L4K 2N6
Entity Address, Country	CA
City Area Code	800
Local Phone Number	895-2723
Title of 12(b) Security	Common Stock (no par value)
Trading Symbol	DOOR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,449,287
Entity Central Index Key	0000893691
Current Fiscal Year End Date	--01-03
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	A1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net sales	$ 551,228	$ 530,311
Cost of goods sold	416,947	418,207
Gross profit	134,281	112,104
Selling, general and administration expenses	80,333	78,100
Restructuring costs	1,941	3,740
Asset impairment	0	10,625
Loss on disposal of subsidiaries	0	4,605
Operating income	52,007	15,034
Interest expense, net	11,282	11,127
Other expense (income), net	49	(1,130)
Income before income tax expense	40,676	5,037
Income tax expense	9,639	58
Net income	31,037	4,979
Less: net income attributable to non-controlling interests	1,152	1,190
Net income attributable to Masonite	$ 29,885	$ 3,789
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 1.20	$ 0.15
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 1.19	$ 0.15
Other comprehensive income (loss):
Net income	$ 31,037	$ 4,979
Foreign currency translation gain (loss)	(38,687)	13,991
Amortization of actuarial net losses	173	404
Income tax expense related to other comprehensive income	(89)	(93)
Other comprehensive income (loss), net of tax	(38,603)	14,302
Comprehensive income (loss)	(7,566)	19,281
Less: comprehensive income attributable to non-controlling interests	573	1,406
Comprehensive income (loss) attributable to Masonite	$ (8,139)	$ 17,875

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 29, 2019
Current assets:
Cash and cash equivalents	$ 114,375	$ 166,964
Restricted cash	10,644	10,644
Accounts receivable, net	303,111	276,208
Inventories, net	240,975	242,230
Prepaid expenses	33,137	33,190
Income taxes receivable	3,492	4,819
Total current assets	705,734	734,055
Property, plant and equipment, net	612,304	625,585
Operating lease right-of-use assets	123,925	121,367
Investment in equity investees	17,011	16,100
Goodwill	179,386	184,192
Intangible assets, net	171,684	184,532
Deferred income taxes	24,355	25,945
Other assets	43,650	44,808
Total assets	1,878,049	1,936,584
Current liabilities:
Accounts payable	97,501	84,912
Accrued expenses	145,342	180,405
Income taxes payable	1,537	2,350
Total current liabilities	244,380	267,667
Long-term debt	791,190	790,984
Long-term operating lease liabilities	112,691	110,497
Deferred income taxes	88,504	83,465
Other liabilities	45,028	47,109
Total liabilities	1,281,793	1,299,722
Commitments and Contingencies (Note 7)
Equity:
Share capital: unlimited shares authorized, no par value, 24,446,987 and 24,869,921 shares issued and outstanding as of March 29, 2020, and December 29, 2019, respectively	551,983	558,514
Additional paid-in capital	212,826	216,584
Accumulated deficit	(12,203)	(20,047)
Accumulated other comprehensive loss	(168,193)	(130,169)
Total equity attributable to Masonite	584,413	624,882
Equity attributable to non-controlling interests	11,843	11,980
Total equity	596,256	636,862
Total liabilities and equity	$ 1,878,049	$ 1,936,584
Shares outstanding	24,446,987	24,869,921

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Mar. 29, 2020	Dec. 29, 2019
Statement of Financial Position [Abstract]
Shares issued	24,446,987	24,869,921
Shares outstanding	24,446,987	24,869,921

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Equity Attributable to Noncontrolling Interests
Opening Balance, Value at Dec. 30, 2018	$ 622,305	$ 575,207	$ 218,988	$ (30,836)	$ (152,919)	$ 11,865
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Value		6,152	(6,152)
Common shares issued under employee stock purchase plan, value		517	(132)
Common shares repurchased and retired, Value		(14,386)		(18,805)
Share based compensation expense			2,680
Common shares withheld to cover income taxes payable due to delivery of share based awards			(1,090)
Net income	4,979			3,789		1,190
Other comprehensive income (loss), net of tax	14,302				14,086	216
Dividends to noncontrolling interests						0
Ending Balance, Value at Mar. 31, 2019	610,370	$ 567,490	214,294	(45,852)	(138,833)	13,271
Opening Balance, Shares at Dec. 30, 2018		25,835,664
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Shares		116,252
Common shares issued under employee stock purchase plan		9,036
Common shares repurchased and retired, Shares		(646,102)
Ending Balance, Shares at Mar. 31, 2019		25,314,850
Opening Balance, Value at Dec. 29, 2019	636,862	$ 558,514	216,584	(20,047)	(130,169)	11,980
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Value		5,490	(5,490)
Common shares issued under employee stock purchase plan, value		708	(311)
Common shares repurchased and retired, Value		(12,729)		(22,041)
Share based compensation expense			3,470
Common shares withheld to cover income taxes payable due to delivery of share based awards			(1,427)
Net income	31,037			29,885		1,152
Other comprehensive income (loss), net of tax	(38,603)				(38,024)	(579)
Dividends to noncontrolling interests						(710)
Ending Balance, Value at Mar. 29, 2020	$ 596,256	$ 551,983	$ 212,826	$ (12,203)	$ (168,193)	$ 11,843
Opening Balance, Shares at Dec. 29, 2019	24,869,921	24,869,921
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Shares		134,911
Common shares issued under employee stock purchase plan		9,426
Common shares repurchased and retired, Shares		(567,271)
Ending Balance, Shares at Mar. 29, 2020	24,446,987	24,446,987

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 31,037	$ 4,979
Adjustments to reconcile net income to net cash flow provided by operating activities:
Loss on disposal of subsidiaries	0	4,605
Depreciation	16,018	18,285
Amortization	6,459	7,597
Share based compensation expense	3,470	2,680
Deferred income taxes	6,160	(3,708)
Unrealized foreign exchange loss (gain)	94	272
Share of income from equity investees, net of tax	(911)	(898)
Pension and post-retirement funding, net of expense	(1,900)	(1,661)
Non-cash accruals and interest	427	(562)
Loss on sale of property, plant and equipment	1,622	2,913
Asset impairment	0	10,625
Accounts receivable	(37,990)	(6,587)
Inventories	(5,388)	(5,902)
Prepaid expenses	(491)	1,986
Accounts payable and accrued expenses	(15,163)	(16,193)
Other assets and liabilities	2,602	80
Net cash flow provided by operating activities	6,046	18,511
Cash flows from investing activities:
Additions to property, plant and equipment	(17,246)	(20,422)
Cash used in acquisitions, net of cash acquired	0	(219)
Proceeds from sale of subsidiaries, net of cash disposed	0	(230)
Proceeds from sale of property, plant and equipment	15	88
Other investing activities	(587)	(418)
Net cash flow used in investing activities	(17,818)	(21,201)
Cash flows from financing activities:
Repayments of long-term debt	(57)	(6)
Tax witholding on share based awards	(1,427)	(1,090)
Distributions to non-controlling interests	(710)	0
Repurchases of common shares	(34,770)	(33,191)
Net cash flow used in financing activities	(36,964)	(34,287)
Net foreign currency translation adjustment on cash	(3,853)	1,463
Decrease in cash, cash equivalents and restricted cash	(52,589)	(35,514)
Cash, cash equivalents and restricted cash, beginning of period	177,608	126,141
Cash, cash equivalents and restricted cash, at end of period	$ 125,019	$ 90,627

Business Overview and Significa

Business Overview and Significant Accounting Policies	3 Months Ended
	Mar. 29, 2020
Accounting Policies [Abstract]
Business Overview and Significant Accounting Policies	Business Overview and Significant Accounting Policies Unless we state otherwise or the context otherwise requires, references to "Masonite," "we," "our," "us" and the "Company" in these notes to the condensed consolidated financial statements refer to Masonite International Corporation and its subsidiaries. Description of Business Masonite International Corporation is one of the largest manufacturers of doors in the world, with significant market share in both interior and exterior door products. Masonite operates 63 manufacturing and distribution facilities in eight countries and sells doors to customers throughout the world with our largest markets being the United States, Canada and the United Kingdom. Basis of Presentation We prepare these unaudited condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP") and applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments consisting of normal and recurring entries considered necessary for a fair presentation of the results for the interim periods presented have been included. All significant intercompany balances and transactions have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. These estimates are based on information available as of the date of the unaudited condensed consolidated financial statements; therefore, actual results could differ from those estimates. Interim results are not necessarily indicative of the results for a full year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, as filed with the SEC. Our fiscal year is the 52- or 53-week period ending on the Sunday closest to December 31. In a 52-week year, each fiscal quarter consists of 13 weeks. For ease of disclosure, the 13-week periods are referred to as three-month periods. Our 2020 fiscal year, which ends on January 3, 2021, will contain 53 weeks of operating results, with the additional week occurring in the fourth quarter. Changes in Accounting Standards and Policies There have been no changes in the significant accounting policies from those that were disclosed in the fiscal year 2019 audited consolidated financial statements, other than as noted below. Adoption of Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326)”, which replaced the incurred loss methodology for recognizing credit losses with a current expected credit losses model. This standard applied to most financial assets, including trade receivables. Our prior accounts receivable policy is described in detail in our Annual Report on Form 10-K for the year ended December 29, 2019. We have adopted the new guidance using a modified retrospective approach as of December 30, 2019, the beginning of fiscal year 2020, and the adoption did not have a material impact on our financial statements and no adjustment was necessary to retained earnings on December 30, 2019. The adoption of the standard resulted in a change in accounting policy for accounts receivable. Our new accounting policy for accounts receivable is presented below. Accounts Receivable We record accounts receivable as our products are received by our customers. Our customers are primarily retailers, distributors and contractors. We record an allowance for credit losses at the time that accounts receivable are initially recorded based on our historical write-off experience and the current economic environment as well as our expectations of future economic conditions. We reassess the allowance at each reporting date. When it becomes apparent, based on age or customer circumstances, that such amounts will not be collected, they are charged to the allowance. Payments subsequently received are credited to the credit loss expense account included within selling, general and administration expenses in the consolidated statements of comprehensive income. Generally, we do not require collateral for our accounts receivable. Other Recent Accounting Pronouncements not yet Adopted In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes," as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The guidance is effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. We are in the process of evaluating this guidance to determine the impact it may have on our financial statements. In August 2018, the FASB issued ASU 2018-14, "Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans," which amended ASC 715, "Compensation—Retirement Benefits." This standard is applicable for employers that sponsor defined benefit pension or other postretirement plans, and eliminates disclosures no longer considered cost beneficial, clarifies specific disclosure requirements for entities that provide aggregate disclosures for two or more plans and adds requirements for explanations for significant gains and losses related to changes in benefit obligations. The guidance will be effective for annual periods ending after December 15, 2020; early adoption is permitted and retrospective application is required. We are in the process of evaluating this guidance to determine the impact it may have on our financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 29, 2020
Business Combinations [Abstract]
Acquisitions and Disposition	Acquisitions and Divestitures Acquisitions Top Doors On August 29, 2019, we completed the acquisition of TOPDOORS, s.r.o. ("Top Doors") based in the Czech Republic for cash consideration of $1.8 million, net of cash acquired. Top Doors is a specialist manufacturer of door frames. The excess purchase price over the fair value of net assets acquired of $1.1 million was allocated to goodwill in our Europe segment. The purchase price allocation, net sales, net income (loss) attributable to Masonite and pro forma information for Top Doors are not presented as they were not material for any period presented. Divestitures Window Widgets On December 13, 2019, we completed the sale of all of the capital stock of Window Widgets Limited ("WW") for consideration of $1.2 million, net of cash disposed. We have had no continuing involvement with WW subsequent to the sale. The divestiture of this business resulted in a loss on disposal of subsidiaries of $9.7 million, which was recognized in the fourth quarter of 2019 in the Europe segment. The total charge consists of $8.3 million relating to the write-off of the assets sold and other professional fees and $1.4 million relating to the recognition of the cumulative translation adjustment out of accumulated other comprehensive loss. Performance Doorset Solutions Limited On March 21, 2019, we completed the sale of all of the capital stock of Performance Doorset Solutions Limited ("PDS") for nominal consideration. We have had no continuing involvement with PDS subsequent to the sale, and the purchasers are not considered to be a related party. The divestiture of this business resulted in a loss on disposal of subsidiaries of $4.6 million, which was recognized in the first quarter of 2019 in the Europe segment. The total charge consists of $3.6 million relating to the write-off of the net assets sold and other professional fees and $1.0 million relating to the recognition of the cumulative translation adjustment out of accumulated other comprehensive loss.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 29, 2020
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Our customers consist mainly of wholesale distributors, dealers and retail home centers. Our ten largest customers accounted for 53.7% and 44.9% of total accounts receivable as of March 29, 2020, and December 29, 2019, respectively. Our largest customer, The Home Depot, Inc., accounted for more than 10% of the consolidated gross accounts receivable balance as of March 29, 2020, and December 29, 2019. The allowance for doubtful accounts balance was $2.2 million and $1.8 million as of March 29, 2020, and December 29, 2019, respectively.We maintain an accounts receivable sales program with a third party (the "AR Sales Program"). Under the AR Sales Program, we can transfer ownership of eligible trade accounts receivable of certain customers. Receivables are sold outright to a third party who assumes the full risk of collection, without recourse to us in the event of a loss. Transfers of receivables under this program are accounted for as sales. Proceeds from the transfers reflect the face value of the accounts receivable less a discount. Receivables sold under the AR Sales Program are excluded from trade accounts receivable in the condensed consolidated balance sheets and are included in cash flows from operating activities in the condensed consolidated statements of cash flows. The discounts on the sales of trade accounts receivable sold, if any, under the AR Sales Program were not material for any of the periods presented and were recorded in selling, general and administration expense within the condensed consolidated statements of comprehensive income.

Inventories

Inventories	3 Months Ended
	Mar. 29, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories The amounts of inventory on hand were as follows as of the dates indicated: (In thousands) March 29, 2020 December 29, 2019 Raw materials $ 175,775 $ 179,155 Finished goods 72,693 70,211 Provision for obsolete or aged inventory (7,493) (7,136) Inventories, net $ 240,975 $ 242,230

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 29, 2020
Accrued Expenses [Abstract]
Accrued expenses	Accrued Expenses The details of our accrued expenses were as follows as of the dates indicated: (In thousands) March 29, 2020 December 29, 2019 Accrued payroll $ 43,864 $ 60,876 Accrued rebates 30,971 33,556 Current portion of operating lease liabilities 21,559 20,980 Accrued interest 5,420 16,913 Other accruals 43,528 48,080 Total accrued expenses $ 145,342 $ 180,405

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 29, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt (In thousands) March 29, 2020 December 29, 2019 5.375% senior unsecured notes due 2028 $ 500,000 $ 500,000 5.750% senior unsecured notes due 2026 300,000 300,000 Debt issuance costs (9,662) (9,985) Other long-term debt 852 969 Total long-term debt $ 791,190 $ 790,984 Interest expense related to our consolidated indebtedness under senior unsecured notes was $11.3 million for both the three months ended March 29, 2020, and March 31, 2019. 5.375% Senior Notes due 2028 On July 25, 2019, we issued $500.0 million aggregate principal senior unsecured notes (the "2028 Notes"). The 2028 Notes bear interest at 5.375%, payable in cash semiannually in arrears on February 1 and August 1 of each year and are due February 1, 2028. The 2028 Notes were issued at par. The net proceeds from issuance of the 2028 Notes, together with available cash balances, were used to redeem the remaining $500.0 million aggregate principal amount of similar senior unsecured notes, including the payment of related premiums, fees and expenses. Information concerning obligations under the 2028 Notes and the indenture governing them are described in detail in our Annual Report on Form 10-K for the year ended December 29, 2019. As of March 29, 2020, we were in compliance with all covenants under the indenture governing the 2028 Notes. 5.750% Senior Notes due 2026 On August 27, 2018, we issued $300.0 million aggregate principal senior unsecured notes (the "2026 Notes"). The 2026 Notes bear interest at 5.750% per annum, payable in cash semiannually in arrears on March 15 and September 15 of each year and are due September 15, 2026. The 2026 Notes were issued at par. Information concerning obligations under the 2026 Notes and the indenture governing them are described in detail in our Annual Report on Form 10-K for the year ended December 29, 2019. As of March 29, 2020, we were in compliance with all covenants under the indenture governing the 2026 Notes. ABL Facility On January 31, 2019, we and certain of our subsidiaries entered into a $250.0 million asset-based revolving credit facility (the "ABL Facility") maturing on January 31, 2024, which replaced the previous facility. Borrowings under the ABL Facility bear interest at a rate equal to, at our option, (i) the United States, Canadian or United Kingdom Base Rate (each as defined in the credit agreement relating to the ABL Facility, the "Amended and Restated Credit Agreement") plus a margin ranging from 0.25% to 0.50% per annum, or (ii) the Adjusted LIBO Rate or BA Rate (each as defined in the Amended and Restated Credit Agreement), plus a margin ranging from 1.25% to 1.50% per annum. In addition to paying interest on any outstanding principal under the ABL Facility, a commitment fee is payable on the undrawn portion of the ABL Facility in an amount equal to 0.25% per annum of the average daily balance of unused commitments during each calendar quarter. The ABL Facility contains various customary representations, warranties by us and covenants that are described in detail in our Annual Report on Form 10-K for the year ended December 29, 2019. As of March 29, 2020, we were in compliance with all covenants under the credit agreement governing the ABL Facility. We had availability of $185.3 million under our ABL Facility and there were no amounts outstanding as of March 29, 2020.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 29, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The following discussion describes material developments in previously disclosed legal proceedings that occurred since December 29, 2019. Refer to Note 10. Commitments and Contingencies in the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 29, 2019, for a full description of the previously disclosed legal proceedings. Class Action Proceedings With respect to the putative antitrust class action cases pending in the Eastern District of Virginia, the parties are in the midst of class certification briefing and expert discovery. Due to the ongoing coronavirus pandemic, on March 17, 2020, the Court extended all case deadlines by 60 days at the parties’ request. Expert discovery is now expected to close in June 2020. Briefing on class certification discovery is expected to be completed by June 9, 2020. Briefing on dispositive motions is expected to be completed by September 7, 2020. The Court has reset the presumptive trial date as January 11, 2021. On May 4, 2020, the Court ruled on Defendants’ December 16, 2019, partial motion to dismiss plaintiffs’ reinstated claims, granting it in part and denying it in part. By granting the motion in part, the Court dismissed the indirect purchasers' claims under Kansas, Utah and Virginia consumer protection laws and it also limited the time period during which indirect purchasers from Hawaii, Kansas, Maine, New Hampshire, North Dakota, Utah, Virginia, West Virginia and Wisconsin could claim damages. In addition, from time to time, we are involved in various claims and legal actions. In the opinion of management, the ultimate disposition of these matters, individually and in the aggregate, will not have a material effect on our financial condition, results of operations or cash flows.

Share Based Compensation Plans

Share Based Compensation Plans	3 Months Ended
	Mar. 29, 2020
Share-based Payment Arrangement [Abstract]
Share Based Compensation Plans	Share Based Compensation Plans Share based compensation expense was $3.5 million and $2.7 million for the three months ended March 29, 2020, and March 31, 2019, respectively. As of March 29, 2020, the total remaining unrecognized compensation expense related to share based compensation amounted to $24.5 million, which will be amortized over the weighted average remaining requisite service period of 1.9 years. Equity Incentive Plans Our equity incentive plans under the 2009 Plan and the 2012 Plan are described in detail and defined in our Annual Report on Form 10-K for the year ended December 29, 2019. The aggregate number of common shares that can be issued with respect to equity awards under the 2012 Plan cannot exceed 2,000,000 shares plus the number of shares subject to existing grants under the 2009 Plan that may expire or be forfeited or canceled. As of March 29, 2020, there were 675,354 shares of common stock available for future issuance under the 2012 Plan. Deferred Compensation Plan We offer to certain of our employees and directors a Deferred Compensation Plan, which is further described in our Annual Report on Form 10-K for the year ended December 29, 2019. As of March 29, 2020, the liability and asset relating to deferred compensation had a fair value of $5.1 million and $4.9 million, respectively. As of March 29, 2020, participation in the deferred compensation plan is limited and no restricted stock awards have been deferred into the deferred compensation plan. All plan investments are categorized as having Level 1 valuation inputs as established by the FASB’s Fair Value Framework. Stock Appreciation Rights We have granted Stock Appreciation Rights ("SARs") to certain employees under both the 2009 Plan and the 2012 Plan, which entitle the recipient to the appreciation in value of a number of common shares over the exercise price over a period of time, each as specified in the applicable award agreement. The exercise price of any SAR granted may not be less than the fair market value of our common shares on the date of grant. The compensation expense for the SARs is measured based on the fair value of the SARs at the date of grant and is recognized over the requisite service period. The SARs vest over a maximum of three years, have a life of ten years and settle in common shares. It is assumed that all time-based SARs will vest. We recognize forfeitures of SARs in the period in which they occur. The total fair value of SARs vested was $0.9 million and $1.1 million during the three months ended March 29, 2020, and March 31, 2019, respectively. Three Months Ended March 29, 2020 Stock Appreciation Rights Aggregate Intrinsic Value (in thousands) Weighted Average Exercise Price Average Remaining Contractual Life (Years) Outstanding, beginning of period 404,447 $ 7,615 $ 53.62 4.7 Granted 29,522 87.18 Exercised (44,850) 2,155 31.82 Forfeited (4,613) 57.52 Outstanding, end of period 384,506 $ 986 $ 58.70 5.2 Exercisable, end of period 241,134 $ 986 $ 55.14 3.3 The value of SARs granted is determined using the Black-Scholes-Merton valuation model, and the corresponding expense is recognized over the average requisite service period of 2.0 years for all periods presented. Expected volatility is based upon the historical volatility of our common shares amongst other considerations. The expected term is calculated using the simplified method, due to insufficient exercise activity during recent years as a basis from which to estimate future exercise patterns. The weighted average grant date assumptions used for the SARs granted were as follows for the periods indicated: 2020 Grants SAR value (model conclusion) $ 21.51 Risk-free rate 1.3 % Expected dividend yield 0.0 % Expected volatility 22.4 % Expected term (years) 6.0 Restricted Stock Units We have granted Restricted Stock Units ("RSUs") to directors and certain employees under both the 2009 Plan and the 2012 Plan. The RSUs confer the right to receive shares of our common stock at a specified future date or when certain conditions are met. The compensation expense for the RSUs awarded is based on the fair value of the RSUs at the date of grant and is recognized over the requisite service period. The RSUs vest over a maximum of three years and call for the underlying shares to be delivered no later than 30 days following the vesting date unless the participant is subject to a blackout period. In such case, the shares are to be delivered once the blackout restriction has been lifted. It is assumed that all time-based RSUs will vest. We recognize forfeitures of RSUs in the period in which they occur. Three Months Ended March 29, 2020 Total Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 523,207 $ 59.58 Granted 177,866 81.91 Performance adjustment (1) (59,936) 67.50 Delivered (79,449) Withheld to cover (2) (8,235) Forfeited (17,572) Outstanding, end of period 535,881 $ 65.46 ____________ (1) Performance-based RSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. These awards are settled with payouts ranging from zero to 200% of the target award value depending on achievement. The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target. (2) A portion of the vested RSUs delivered were net share settled to cover statutory requirements for income and other employment taxes. We remit the equivalent cash to the appropriate taxing authorities. These net share settlements had the effect of share repurchases by us as we reduced and retired the number of shares that would have otherwise been issued as a result of the vesting. Approximately two-thirds of the RSUs granted during the three months ended March 29, 2020, vest at specified future dates with only service requirements, while the remaining portion of the RSUs vest based on both performance and service requirements. The expense for RSUs granted during the three months ended March 29, 2020, is being recognized over the weighted average requisite service period of 2.5 years. 87,684 RSUs vested during the three months ended March 29, 2020, at a fair value of $5.6 million.

Restructuring Costs

Restructuring Costs	3 Months Ended
	Mar. 29, 2020
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs In February 2019, we began implementing a plan to improve overall business performance that includes the reorganization of our manufacturing capacity and a reduction of our overhead and selling, general and administration workforce across all of our reportable segments and in our head offices. The reorganization of our manufacturing capacity involves specific plants in the North American Residential and Architectural segments and costs associated with the closure of these plants and related headcount reductions began taking place in the first quarter of 2019 (collectively, the "2019 Plan"). Costs associated with the 2019 Plan include severance, retention and closure charges and will continue through 2020. Additionally, the plan to divest non-core assets was determined to be a triggering event requiring a test of the carrying value of the definite-lived assets relating to the divestitures, as further described in Note 10. As of March 29, 2020, we expect to incur approximately $5 million to $6 million of additional charges related to the 2019 Plan. During the fourth quarter of 2018, we began implementing a plan to reorganize and consolidate certain aspects of our United Kingdom head office function and optimize our portfolio by divesting non-core assets to enable more effective and consistent business processes in the Europe segment. In addition, in the North American Residential segment we announced a new facility that will optimize and expand capacity through increased automation, which resulted in the closure of one existing facility and related headcount reductions beginning in the second quarter of 2019 (collectively, the "2018 Plan"). Costs associated with the 2018 Plan include severance, retention and closure charges and continued throughout 2019. As of March 29, 2020, we do not expect to incur any material future charges related to the 2018 Plan. The following table summarizes the restructuring charges recorded for the periods indicated: Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 728 $ (37) $ 862 $ 267 $ 1,820 2018 Plan 121 — — — 121 Total Restructuring Costs $ 849 $ (37) $ 862 $ 267 $ 1,941 Three Months Ended March 31, 2019 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 1,459 $ 331 $ 604 $ 394 $ 2,788 2018 Plan 421 531 — — 952 Total Restructuring Costs $ 1,880 $ 862 $ 604 $ 394 $ 3,740 Cumulative Amount Incurred Through March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 6,187 $ 359 $ 1,368 $ 1,286 $ 9,200 2018 Plan 1,866 2,275 — — 4,141 Total Restructuring Costs $ 8,053 $ 2,634 $ 1,368 $ 1,286 $ 13,341 The changes in the accrual for restructuring by activity were as follows for the periods indicated: (In thousands) December 29, 2019 Severance Closure Costs Cash Payments March 29, 2020 2019 Plan $ 1,535 $ 187 $ 1,633 $ (2,769) $ 586 2018 Plan — 103 18 (121) — Total $ 1,535 $ 290 $ 1,651 $ (2,890) $ 586 (In thousands) December 30, 2018 Severance Closure Costs Cash Payments March 31, 2019 2019 Plan $ — $ 2,770 $ 18 $ (1,035) $ 1,753 2018 Plan 596 983 (31) (546) 1,002 Other 58 — — (17) 41 Total $ 654 $ 3,753 $ (13) $ (1,598) $ 2,796

Asset Impairment

Asset Impairment	3 Months Ended
	Mar. 29, 2020
Asset Impairment Charges [Abstract]
Asset Impairment	Asset ImpairmentDuring the three months ended March 31, 2019, we recognized asset impairment charges of $10.6 million related to two asset groups in the North American Residential segment, as a result of announced plant closures under the 2019 Plan. This amount was determined based upon the excess of the asset groups' carrying values of property, plant and equipment and operating lease right-of-use assets over the respective fair values of such assets, determined using a discounted cash flows approach for each asset group. Each of these valuations was performed on a non-recurring basis and is categorized as having Level 3 valuation inputs as established by the FASB's Fair Value Framework. The Level 3 unobservable inputs include an estimate of future cash flows and the salvage value for each of the asset groups. The fair value of the asset groups was determined to be $11.3 million, compared to a book value of $21.9 million, with the difference representing the asset impairment charges recorded in the condensed consolidated statements of comprehensive income.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate differs from the Canadian statutory rate of 26.7% primarily due to mix of earnings in foreign jurisdictions that are subject to tax rates which differ from the Canadian statutory rate and changes in our valuation allowances. In addition, we recognized $0.7 million of income tax benefit due to the exercise and delivery of share-based awards during the three months ended March 29, 2020, compared to $0.1 million of income tax benefit during the three months ended March 31, 2019. We have historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. Due to the uncertainties stemming from the impact of the COVID-19 pandemic on our operations, we have used a discrete effective tax rate method to calculate taxes for the three months ended March 29, 2020.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 29, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per ShareBasic earnings per share ("EPS") is calculated by dividing earnings attributable to Masonite by the weighted average number of our common shares outstanding during the period. Diluted EPS is calculated by dividing earnings attributable to Masonite by the weighted average number of common shares plus the incremental number of shares issuable from non-vested and vested RSUs and SARs outstanding during the period. (In thousands, except share and per share information) Three Months Ended March 29, 2020 March 31, 2019 Net income attributable to Masonite $ 29,885 $ 3,789 Shares used in computing basic earnings per share 24,861,442 25,574,910 Effect of dilutive securities: Incremental shares issuable under share compensation plans 353,322 376,574 Shares used in computing diluted earnings per share 25,214,764 25,951,484 Basic earnings per common share attributable to Masonite $ 1.20 $ 0.15 Diluted earnings per common share attributable to Masonite $ 1.19 $ 0.15 Anti-dilutive instruments excluded from diluted earnings per common share 258,773 235,650

Segment Information

Segment Information	3 Months Ended
	Mar. 29, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Our reportable segments are organized and managed principally by end market: North American Residential, Europe and Architectural. The North American Residential reportable segment is the aggregation of the Wholesale and Retail operating segments. The Europe reportable segment is the aggregation of the Europe Interior and Europe Exterior operating segments. The Architectural reportable segment consists solely of the Architectural operating segment. The Corporate & Other category includes unallocated corporate costs and the results of immaterial operating segments which were not aggregated into any reportable segment. Operating segments are aggregated into reportable segments only if they exhibit similar economic characteristics. In addition to similar economic characteristics we also consider the following factors in determining the reportable segments: the nature of business activities, the management structure directly accountable to our chief operating decision maker for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors and investors. Our management reviews net sales and Adjusted EBITDA (as defined below) to evaluate segment performance and allocate resources. Net assets are not allocated to the reportable segments. Adjusted EBITDA is a non-GAAP financial measure which does not have a standardized meaning under GAAP and is unlikely to be comparable to similar measures used by other companies. Adjusted EBITDA should not be considered as an alternative to either net income or operating cash flows determined in accordance with GAAP. Adjusted EBITDA is defined as net income (loss) attributable to Masonite adjusted to exclude the following items: • depreciation; • amortization; • share based compensation expense; • loss (gain) on disposal of property, plant and equipment; • registration and listing fees; • restructuring costs; • asset impairment; • loss (gain) on disposal of subsidiaries; • interest expense (income), net; • loss on extinguishment of debt; • other expense (income), net; • income tax expense (benefit); • loss (income) from discontinued operations, net of tax; and • net income (loss) attributable to non-controlling interest. This definition of Adjusted EBITDA differs from the definitions of EBITDA contained in the indentures governing the 2028 Notes and 2026 Notes and the credit agreement governing the ABL Facility. Although Adjusted EBITDA is not a measure of financial condition or performance determined in accordance with GAAP, it is used to evaluate and compare the operating performance of the segments and it is one of the primary measures used to determine employee incentive compensation. Intersegment sales are recorded using market prices. Certain information with respect to segments is as follows for the periods indicated: Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 384,445 $ 71,156 $ 94,555 $ 5,427 $ 555,583 Intersegment sales (588) (430) (3,337) — (4,355) Net sales to external customers $ 383,857 $ 70,726 $ 91,218 $ 5,427 $ 551,228 Adjusted EBITDA $ 71,696 $ 9,679 $ 10,582 $ (10,440) $ 81,517 Three Months Ended March 31, 2019 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 354,802 $ 84,739 $ 88,353 $ 6,728 $ 534,622 Intersegment sales (1,077) (472) (2,762) — (4,311) Net sales to external customers $ 353,725 $ 84,267 $ 85,591 $ 6,728 $ 530,311 Adjusted EBITDA $ 53,621 $ 9,997 $ 7,614 $ (5,753) $ 65,479 A reconciliation of our net income (loss) attributable to Masonite to consolidated Adjusted EBITDA is set forth as follows for the periods indicated: Three Months Ended (In thousands) March 29, 2020 March 31, 2019 Net income attributable to Masonite $ 29,885 $ 3,789 Plus: Depreciation 16,018 18,285 Amortization 6,459 7,597 Share based compensation expense 3,470 2,680 Loss on disposal of property, plant and equipment 1,622 2,913 Restructuring costs 1,941 3,740 Asset impairment — 10,625 Loss on disposal of subsidiaries — 4,605 Interest expense, net 11,282 11,127 Other expense (income), net 49 (1,130) Income tax expense 9,639 58 Net income attributable to non-controlling interest 1,152 1,190 Adjusted EBITDA $ 81,517 $ 65,479

Other Comprehensive Income and

Other Comprehensive Income and Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 29, 2020
Equity [Abstract]
Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss) A rollforward of the components of accumulated other comprehensive loss is as follows for the periods indicated: Three Months Ended (In thousands) March 29, 2020 March 31, 2019 Accumulated foreign currency translation losses, beginning of period $ (113,336) $ (129,930) Foreign currency translation gain (loss) (38,687) 12,990 Income tax benefit (expense) on foreign currency translation gain (44) 12 Cumulative translation adjustment recognized upon deconsolidation of subsidiary — 1,001 Less: foreign currency translation gain (loss) attributable to non-controlling interest (579) 216 Accumulated foreign currency translation losses, end of period (151,488) (116,143) Accumulated pension and other post-retirement adjustments, beginning of period (16,833) (22,989) Amortization of actuarial net losses 173 404 Income tax expense on amortization of actuarial net losses (45) (105) Accumulated pension and other post-retirement adjustments (16,705) (22,690) Accumulated other comprehensive loss $ (168,193) $ (138,833) Other comprehensive income (loss), net of tax $ (38,603) $ 14,302 Less: other comprehensive income (loss) attributable to non-controlling interest (579) 216 Other comprehensive income (loss) attributable to Masonite $ (38,024) $ 14,086 Cumulative translation adjustments are reclassified out of accumulated other comprehensive loss into loss on disposal of subsidiaries in the condensed consolidated statements of comprehensive income. Actuarial net losses are reclassified out of accumulated other comprehensive loss into cost of goods sold in the condensed consolidated statements of comprehensive income. Foreign currency translation losses as a result of translating our foreign assets and liabilities into U.S. dollars during the three months ended March 29, 2020, were $38.7 million primarily driven by the weakening of the Pound Sterling, the Canadian Dollar and the Mexican Peso in comparison to the U.S. Dollar.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 29, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Certain cash and non-cash transactions were as follows for the periods indicated: Three Months Ended (In thousands) March 29, 2020 March 31, 2019 Transactions involving cash: Interest paid $ 22,662 $ 23,785 Interest received 641 672 Income taxes paid 3,030 1,308 Income tax refunds 392 — Cash paid for operating lease liabilities 6,835 6,290 Cash paid for finance lease liabilities 317 — Non-cash transactions from operating activities: Right-of-use assets acquired under operating leases 3,863 20,289 The following reconciles total cash, cash equivalents and restricted cash as of the dates indicated: March 29, 2020 December 29, 2019 Cash and cash equivalents $ 114,375 $ 166,964 Restricted cash 10,644 10,644 Total cash, cash equivalents and restricted cash $ 125,019 $ 177,608 Property, plant and equipment additions in accounts payable were $4.6 million and $6.3 million as of March 29, 2020, and December 29, 2019, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 29, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents, restricted cash, accounts receivable, income taxes receivable, accounts payable, accrued expenses and income taxes payable approximate fair value because of the short-term maturity of those instruments. The estimated fair values and carrying values of our long-term debt instruments were as follows for the periods indicated: March 29, 2020 December 29, 2019 (In thousands) Fair Value Carrying Value Fair Value Carrying Value 5.375% senior unsecured notes due 2028 $ 487,668 $ 493,835 $ 529,105 $ 493,648 5.750% senior unsecured notes due 2026 $ 293,249 $ 296,503 318,846 296,367 These estimates are based on market quotes and calculations based on current market rates available to us and are categorized as having Level 2 valuation inputs as established by the FASB's Fair Value Framework. Market quotes used in these calculations are based on bid prices for our debt instruments and are obtained from and corroborated with multiple independent sources. The market quotes obtained from independent sources are within the range of management's expectations.

Business Overview and Signifi_2

Business Overview and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 29, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements	Adoption of Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326)”, which replaced the incurred loss methodology for recognizing credit losses with a current expected credit losses model. This standard applied to most financial assets, including trade receivables. Our prior accounts receivable policy is described in detail in our Annual Report on Form 10-K for the year ended December 29, 2019. We have adopted the new guidance using a modified retrospective approach as of December 30, 2019, the beginning of fiscal year 2020, and the adoption did not have a material impact on our financial statements and no adjustment was necessary to retained earnings on December 30, 2019. The adoption of the standard resulted in a change in accounting policy for accounts receivable. Our new accounting policy for accounts receivable is presented below. Accounts Receivable We record accounts receivable as our products are received by our customers. Our customers are primarily retailers, distributors and contractors. We record an allowance for credit losses at the time that accounts receivable are initially recorded based on our historical write-off experience and the current economic environment as well as our expectations of future economic conditions. We reassess the allowance at each reporting date. When it becomes apparent, based on age or customer circumstances, that such amounts will not be collected, they are charged to the allowance. Payments subsequently received are credited to the credit loss expense account included within selling, general and administration expenses in the consolidated statements of comprehensive income. Generally, we do not require collateral for our accounts receivable. Other Recent Accounting Pronouncements not yet Adopted In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes," as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The guidance is effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. We are in the process of evaluating this guidance to determine the impact it may have on our financial statements.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 29, 2020
Inventory Disclosure [Abstract]
Inventories	The amounts of inventory on hand were as follows as of the dates indicated: (In thousands) March 29, 2020 December 29, 2019 Raw materials $ 175,775 $ 179,155 Finished goods 72,693 70,211 Provision for obsolete or aged inventory (7,493) (7,136) Inventories, net $ 240,975 $ 242,230

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 29, 2020
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	The details of our accrued expenses were as follows as of the dates indicated: (In thousands) March 29, 2020 December 29, 2019 Accrued payroll $ 43,864 $ 60,876 Accrued rebates 30,971 33,556 Current portion of operating lease liabilities 21,559 20,980 Accrued interest 5,420 16,913 Other accruals 43,528 48,080 Total accrued expenses $ 145,342 $ 180,405

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 29, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	(In thousands) March 29, 2020 December 29, 2019 5.375% senior unsecured notes due 2028 $ 500,000 $ 500,000 5.750% senior unsecured notes due 2026 300,000 300,000 Debt issuance costs (9,662) (9,985) Other long-term debt 852 969 Total long-term debt $ 791,190 $ 790,984

Share Based Compensation Plans

Share Based Compensation Plans (Tables)	3 Months Ended
	Mar. 29, 2020
Share-based Payment Arrangement [Abstract]
Stock appreciation rights award activity	Three Months Ended March 29, 2020 Stock Appreciation Rights Aggregate Intrinsic Value (in thousands) Weighted Average Exercise Price Average Remaining Contractual Life (Years) Outstanding, beginning of period 404,447 $ 7,615 $ 53.62 4.7 Granted 29,522 87.18 Exercised (44,850) 2,155 31.82 Forfeited (4,613) 57.52 Outstanding, end of period 384,506 $ 986 $ 58.70 5.2 Exercisable, end of period 241,134 $ 986 $ 55.14 3.3
Schedule of Share-based Compensation, Stock Appreciation Rights, Valuation Assumptions	The weighted average grant date assumptions used for the SARs granted were as follows for the periods indicated: 2020 Grants SAR value (model conclusion) $ 21.51 Risk-free rate 1.3 % Expected dividend yield 0.0 % Expected volatility 22.4 % Expected term (years) 6.0
Restricted stock units award activity	Three Months Ended March 29, 2020 Total Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 523,207 $ 59.58 Granted 177,866 81.91 Performance adjustment (1) (59,936) 67.50 Delivered (79,449) Withheld to cover (2) (8,235) Forfeited (17,572) Outstanding, end of period 535,881 $ 65.46 ____________ (1) Performance-based RSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. These awards are settled with payouts ranging from zero to 200% of the target award value depending on achievement. The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target. (2) A portion of the vested RSUs delivered were net share settled to cover statutory requirements for income and other employment taxes. We remit the equivalent cash to the appropriate taxing authorities. These net share settlements had the effect of share repurchases by us as we reduced and retired the number of shares that would have otherwise been issued as a result of the vesting.

Restructuring Costs (Tables)

Restructuring Costs (Tables)	3 Months Ended
	Mar. 29, 2020
Restructuring and Related Activities [Abstract]
Total restructuring costs by plan	The following table summarizes the restructuring charges recorded for the periods indicated: Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 728 $ (37) $ 862 $ 267 $ 1,820 2018 Plan 121 — — — 121 Total Restructuring Costs $ 849 $ (37) $ 862 $ 267 $ 1,941 Three Months Ended March 31, 2019 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 1,459 $ 331 $ 604 $ 394 $ 2,788 2018 Plan 421 531 — — 952 Total Restructuring Costs $ 1,880 $ 862 $ 604 $ 394 $ 3,740 Cumulative Amount Incurred Through March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 6,187 $ 359 $ 1,368 $ 1,286 $ 9,200 2018 Plan 1,866 2,275 — — 4,141 Total Restructuring Costs $ 8,053 $ 2,634 $ 1,368 $ 1,286 $ 13,341
Schedule of restructuring reserve by type of cost	The changes in the accrual for restructuring by activity were as follows for the periods indicated: (In thousands) December 29, 2019 Severance Closure Costs Cash Payments March 29, 2020 2019 Plan $ 1,535 $ 187 $ 1,633 $ (2,769) $ 586 2018 Plan — 103 18 (121) — Total $ 1,535 $ 290 $ 1,651 $ (2,890) $ 586 (In thousands) December 30, 2018 Severance Closure Costs Cash Payments March 31, 2019 2019 Plan $ — $ 2,770 $ 18 $ (1,035) $ 1,753 2018 Plan 596 983 (31) (546) 1,002 Other 58 — — (17) 41 Total $ 654 $ 3,753 $ (13) $ (1,598) $ 2,796

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 29, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	(In thousands, except share and per share information) Three Months Ended March 29, 2020 March 31, 2019 Net income attributable to Masonite $ 29,885 $ 3,789 Shares used in computing basic earnings per share 24,861,442 25,574,910 Effect of dilutive securities: Incremental shares issuable under share compensation plans 353,322 376,574 Shares used in computing diluted earnings per share 25,214,764 25,951,484 Basic earnings per common share attributable to Masonite $ 1.20 $ 0.15 Diluted earnings per common share attributable to Masonite $ 1.19 $ 0.15 Anti-dilutive instruments excluded from diluted earnings per common share 258,773 235,650

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 29, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Certain information with respect to segments is as follows for the periods indicated: Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 384,445 $ 71,156 $ 94,555 $ 5,427 $ 555,583 Intersegment sales (588) (430) (3,337) — (4,355) Net sales to external customers $ 383,857 $ 70,726 $ 91,218 $ 5,427 $ 551,228 Adjusted EBITDA $ 71,696 $ 9,679 $ 10,582 $ (10,440) $ 81,517 Three Months Ended March 31, 2019 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 354,802 $ 84,739 $ 88,353 $ 6,728 $ 534,622 Intersegment sales (1,077) (472) (2,762) — (4,311) Net sales to external customers $ 353,725 $ 84,267 $ 85,591 $ 6,728 $ 530,311 Adjusted EBITDA $ 53,621 $ 9,997 $ 7,614 $ (5,753) $ 65,479
Reconciliation of consolidated Adjusted EBITDA to net income (loss) attributable to Masonite	A reconciliation of our net income (loss) attributable to Masonite to consolidated Adjusted EBITDA is set forth as follows for the periods indicated: Three Months Ended (In thousands) March 29, 2020 March 31, 2019 Net income attributable to Masonite $ 29,885 $ 3,789 Plus: Depreciation 16,018 18,285 Amortization 6,459 7,597 Share based compensation expense 3,470 2,680 Loss on disposal of property, plant and equipment 1,622 2,913 Restructuring costs 1,941 3,740 Asset impairment — 10,625 Loss on disposal of subsidiaries — 4,605 Interest expense, net 11,282 11,127 Other expense (income), net 49 (1,130) Income tax expense 9,639 58 Net income attributable to non-controlling interest 1,152 1,190 Adjusted EBITDA $ 81,517 $ 65,479

Other Comprehensive Income an_2

Other Comprehensive Income and Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 29, 2020
Equity [Abstract]
Schedule of components of accumulated other comprehensive income (loss)	A rollforward of the components of accumulated other comprehensive loss is as follows for the periods indicated: Three Months Ended (In thousands) March 29, 2020 March 31, 2019 Accumulated foreign currency translation losses, beginning of period $ (113,336) $ (129,930) Foreign currency translation gain (loss) (38,687) 12,990 Income tax benefit (expense) on foreign currency translation gain (44) 12 Cumulative translation adjustment recognized upon deconsolidation of subsidiary — 1,001 Less: foreign currency translation gain (loss) attributable to non-controlling interest (579) 216 Accumulated foreign currency translation losses, end of period (151,488) (116,143) Accumulated pension and other post-retirement adjustments, beginning of period (16,833) (22,989) Amortization of actuarial net losses 173 404 Income tax expense on amortization of actuarial net losses (45) (105) Accumulated pension and other post-retirement adjustments (16,705) (22,690) Accumulated other comprehensive loss $ (168,193) $ (138,833) Other comprehensive income (loss), net of tax $ (38,603) $ 14,302 Less: other comprehensive income (loss) attributable to non-controlling interest (579) 216 Other comprehensive income (loss) attributable to Masonite $ (38,024) $ 14,086

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 29, 2020
Supplemental Cash Flow Elements [Abstract]
Cash and non-cash transactions	Certain cash and non-cash transactions were as follows for the periods indicated: Three Months Ended (In thousands) March 29, 2020 March 31, 2019 Transactions involving cash: Interest paid $ 22,662 $ 23,785 Interest received 641 672 Income taxes paid 3,030 1,308 Income tax refunds 392 — Cash paid for operating lease liabilities 6,835 6,290 Cash paid for finance lease liabilities 317 — Non-cash transactions from operating activities: Right-of-use assets acquired under operating leases 3,863 20,289
Schedule of Cash, Cash Equivalents and Restricted Cash	The following reconciles total cash, cash equivalents and restricted cash as of the dates indicated: March 29, 2020 December 29, 2019 Cash and cash equivalents $ 114,375 $ 166,964 Restricted cash 10,644 10,644 Total cash, cash equivalents and restricted cash $ 125,019 $ 177,608

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 29, 2020
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The carrying amounts of our cash and cash equivalents, restricted cash, accounts receivable, income taxes receivable, accounts payable, accrued expenses and income taxes payable approximate fair value because of the short-term maturity of those instruments. The estimated fair values and carrying values of our long-term debt instruments were as follows for the periods indicated: March 29, 2020 December 29, 2019 (In thousands) Fair Value Carrying Value Fair Value Carrying Value 5.375% senior unsecured notes due 2028 $ 487,668 $ 493,835 $ 529,105 $ 493,648 5.750% senior unsecured notes due 2026 $ 293,249 $ 296,503 318,846 296,367

Business Overview and Signifi_3

Business Overview and Significant Accounting Policies (Details)	Mar. 29, 2020facilityCountry
Accounting Policies [Abstract]
Number of manufacturing locations | facility	63
Number of countries | Country	8

Acquisitions and Divestitures (

Acquisitions and Divestitures (Narrative) (Details) - USD ($) $ in Thousands	Dec. 13, 2019	Aug. 29, 2019	Mar. 29, 2020	Dec. 29, 2019	Mar. 31, 2019	Mar. 21, 2019
Business Acquisition [Line Items]
Cash consideration, net of cash acquired			$ 0		$ 219
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of subsidiaries			$ 0		(4,605)
Window Widgets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration, net of cash disposed	$ 1,200
Loss on disposal of subsidiaries				$ 9,700
Net assets	$ 8,300
Cumulative translation adjustment				$ 1,400
Performance Doorset Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of subsidiaries					4,600
Net assets						$ 3,600
Cumulative translation adjustment					$ 1,000
Top Doors
Business Acquisition [Line Items]
Cash consideration, net of cash acquired		$ 1,800
Goodwill acquired during period		$ 1,100

Accounts Receivable (Details)

Accounts Receivable (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 29, 2020USD ($)Customer	Dec. 29, 2019USD ($)Customer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts | $	$ 2.2	$ 1.8
Accounts Receivable | Customer Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, customers | Customer	10	10
Concentration risk, percent	53.70%	44.90%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 29, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 175,775	$ 179,155
Finished goods	72,693	70,211
Provision for obsolete or aged inventory	(7,493)	(7,136)
Inventories, net	$ 240,975	$ 242,230

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 29, 2019
Accrued Expenses [Abstract]
Accrued payroll	$ 43,864	$ 60,876
Accrued rebates	30,971	33,556
Current portion of operating lease liabilities	21,559	20,980
Accrued interest	5,420	16,913
Other accruals	43,528	48,080
Total accrued expenses	$ 145,342	$ 180,405

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 29, 2019
Debt Instrument [Line Items]
Other long-term debt	$ 852	$ 969
Total long-term debt	791,190	790,984
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	(9,662)	(9,985)
Debt Issuance Costs, Net	9,662	9,985
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term debt	300,000	300,000
Senior Notes | Senior Notes Due 2028
Debt Instrument [Line Items]
Long-term debt	$ 500,000	$ 500,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Aug. 10, 2019	Mar. 29, 2020	Mar. 31, 2019	Jul. 25, 2019	Jan. 31, 2019	Aug. 27, 2018
Senior Notes
Debt Instrument [Line Items]
Interest expense		$ 11,300,000	$ 11,300,000
Senior Notes | Senior Notes Due 2028
Debt Instrument [Line Items]
Aggregate principal				$ 500,000,000
Interest rate stated percentage		5.375%
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Aggregate principal						$ 300,000,000
Interest rate stated percentage		5.75%
Senior Notes | Senior Notes Due 2023
Debt Instrument [Line Items]
Extinguishment of debt	$ 500,000,000
Revolving Credit Facility | ABL Facility 2024
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 250,000,000
Revolving credit facility availability		$ 185,300,000
Revolving credit facilities		$ 0
Minimum | Revolving Credit Facility | ABL Facility 2024
Debt Instrument [Line Items]
Unutilized commitment fee percentage		0.25%
Minimum | Revolving Credit Facility | ABL Facility 2024 | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%
Minimum | Revolving Credit Facility | ABL Facility 2024 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
Maximum | Revolving Credit Facility | ABL Facility 2024 | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Maximum | Revolving Credit Facility | ABL Facility 2024 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%

Share Based Compensation Plan_2

Share Based Compensation Plans Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Jul. 12, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 3,470	$ 2,680
Share based compensation unrecognized	$ 24,500
Weighted average remaining requisite service period	1 year 10 months 24 days
Deferred compensation liability	$ 5,100
Deferred compensation asset	$ 4,900
2012 Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards not to exceed			2,000,000
Common stock available for future issuance	675,354
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan term	10 years
Award vesting period	3 years
Vested, fair value	$ 900	$ 1,100
Average requisite service period	2 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Average requisite service period	2 years 6 months
Units vested	87,684
Fair value of shares vested	$ 5,600
Service Requirement | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	65.00%
Service and Performance Requirements | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	35.00%

Share Based Compensation Plan_3

Share Based Compensation Plans (SARs) (Details) - Stock Appreciation Rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	Mar. 29, 2020	Dec. 29, 2019	Mar. 29, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period, shares			404,447
Granted, shares			29,522
Exercised, shares			(44,850)
Forfeited, shares			4,613
Outstanding, end of period, shares	384,506	404,447	384,506
Exercisable, shares	241,134		241,134
Share-based Compensation Arrangement by Share-based Payment Award, Options, Aggregate Intrinsic Value & Average Remaining Contractual Life [Abstract]
Outstanding, beginning of period, aggregate intrinsic value			$ 7,615
Exercised, aggregate intrinsic value			2,155
Outstanding, end period, aggregate intrinsic value	$ 986	$ 7,615	986
Exercisable, aggregate intrinsic value	$ 986		$ 986
Outstanding, beginning of period, weighted average remaining contractual term	5 years 2 months 12 days	4 years 8 months 12 days
Outstanding, end of period, weighted average remaining contractual term	5 years 2 months 12 days	4 years 8 months 12 days
Exercisable, weighted average remaining contractual term	3 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period, weighted average exercise price			$ 53.62
Granted, weighted average exercise price			87.18
Exercised, weighted average exercise price			31.82
Forfeited, weighted average exercise price			57.52
Outstanding, end of period, weighted average exercise price	$ 58.70	$ 53.62	58.70
Exercisable, weighted average exercise price	$ 55.14		$ 55.14

Share Based Compensation Plan_4

Share Based Compensation Plans (Weighted Average Grant Date Assumptions) (Details) - Stock Appreciation Rights (SARs)	3 Months Ended
	Mar. 29, 2020$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SAR Value (model conclusion)	$ 21.51
Risk-free rate	1.30%
Expected dividend yield	0.00%
Expected volatility	22.40%
Expected term (years)	6 years

Share Based Compensation Plan_5

Share Based Compensation Plans (RSUs) (Details)	3 Months Ended
	Mar. 29, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments Other Than Options Vested and Undelivered Performance adjustment Weighted Average Grant Date Fair Value | $ / shares	$ 67.50
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (shares)	523,207
Granted (shares)	177,866
Performance adjustment (shares)	59,936
Delivered (shares)	(79,449)
Withheld to cover (shares)	(8,235)
Forfeited (shares)	(17,572)
Outstanding, end of period (shares)	535,881
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning of period (weighted average grant date fair value) | $ / shares	$ 59.58
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	81.91
Outstanding, end of period (weighted average grant date fair value) | $ / shares	$ 65.46

Restructuring Costs (Restructur

Restructuring Costs (Restructuring Costs by Plan) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 29, 2019	Dec. 30, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,941	$ 3,740
Cumulative amount incurred to date	13,341
Restructuring Reserve	586	2,796	$ 1,535	$ 654
Payments for Restructuring	2,890	1,598
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	290	3,753
Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,651	(13)
2019 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,820	2,788
Cumulative amount incurred to date	9,200
Restructuring Reserve	586	1,753	1,535	0
Payments for Restructuring	2,769	1,035
2019 Plan | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	187	2,770
2019 Plan | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,633	18
2019 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs	728	1,459
2019 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(37)	331
2019 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs	862	604
2019 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	267	394
2018 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring costs	121	952
Cumulative amount incurred to date	4,141
Restructuring Reserve	0	1,002	$ 0	596
Payments for Restructuring	121	546
2018 Plan | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	103	983
2018 Plan | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	18	(31)
2018 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs	121	421
2018 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	531
2018 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	0
2018 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		41		$ 58
Payments for Restructuring		17
Other | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs		0
Other | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring costs		0
Operating Segments | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs	849	1,880
Cumulative amount incurred to date	8,053
Operating Segments | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(37)	862
Cumulative amount incurred to date	2,634
Operating Segments | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs	862	604
Cumulative amount incurred to date	1,368
Operating Segments | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	267	$ 394
Cumulative amount incurred to date	1,286
Operating Segments | 2019 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	6,187
Operating Segments | 2019 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	359
Operating Segments | 2019 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	1,368
Operating Segments | 2019 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	1,286
Operating Segments | 2018 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	1,866
Operating Segments | 2018 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	2,275
Operating Segments | 2018 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	0
Operating Segments | 2018 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	$ 0

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 1,535	$ 654
Restructuring charges	1,941	3,740
Cash payments	(2,890)	(1,598)
Restructuring reserve, ending balance	586	2,796
Severance
Restructuring Reserve [Roll Forward]
Restructuring charges	290	3,753
Facility Closing
Restructuring Reserve [Roll Forward]
Restructuring charges	1,651	(13)
2019 Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1,535	0
Restructuring charges	1,820	2,788
Cash payments	(2,769)	(1,035)
Restructuring reserve, ending balance	586	1,753
2019 Plan | Severance
Restructuring Reserve [Roll Forward]
Restructuring charges	187	2,770
2019 Plan | Facility Closing
Restructuring Reserve [Roll Forward]
Restructuring charges	1,633	18
2018 Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	596
Restructuring charges	121	952
Cash payments	(121)	(546)
Restructuring reserve, ending balance	0	1,002
2018 Plan | Severance
Restructuring Reserve [Roll Forward]
Restructuring charges	103	983
2018 Plan | Facility Closing
Restructuring Reserve [Roll Forward]
Restructuring charges	18	(31)
Other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance		58
Cash payments		(17)
Restructuring reserve, ending balance		41
Other | Severance
Restructuring Reserve [Roll Forward]
Restructuring charges		0
Other | Facility Closing
Restructuring Reserve [Roll Forward]
Restructuring charges		$ 0
Minimum | 2019 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	5,000
Maximum | 2019 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining	$ 6,000

Asset Impairment (Details)

Asset Impairment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment	$ 0	$ 10,625
Book value of asset group	21,900
Level 3 | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of asset group based on estimated discounted future cash flows, including salvage values or market values	$ 11,300

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Canadian federal statutory rate	26.70%
Income tax benefit due to the exercise and delivery of share-based awards	$ 0.7	$ 0.1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Masonite	$ 29,885	$ 3,789
Shares used in computing basic earnings per share	24,861,442	25,574,910
Effect of dilutive securities:
Incremental shares issuable under share compensation plans	353,322	376,574
Shares used in computing diluted earnings per share	25,214,764	25,951,484
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 1.20	$ 0.15
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 1.19	$ 0.15
Stock Appreciation Rights (SARs)
Effect of dilutive securities:
Anti-dilutive instruments excluded from diluted earnings per common share	258,773	235,650

Segment Information (Geographic

Segment Information (Geographic Segments Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 551,228	$ 530,311
Adjusted EBITDA	81,517	65,479
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	555,583	534,622
Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(4,355)	(4,311)
North American Residential
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	383,857	353,725
Adjusted EBITDA	71,696	53,621
North American Residential | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	384,445	354,802
North American Residential | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(588)	(1,077)
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	70,726	84,267
Adjusted EBITDA	9,679	9,997
Europe | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	71,156	84,739
Europe | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(430)	(472)
Architectural
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	91,218	85,591
Adjusted EBITDA	10,582	7,614
Architectural | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	94,555	88,353
Architectural | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(3,337)	(2,762)
Corporate & Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	5,427	6,728
Adjusted EBITDA	(10,440)	(5,753)
Corporate & Other | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	5,427	6,728
Corporate & Other | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 0	$ 0

Segment Information (Reconcilia

Segment Information (Reconciliation of Consolidated Adjusted EBITDA to Net Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Segment Reporting [Abstract]
Adjusted EBITDA	$ 81,517	$ 65,479
Depreciation	16,018	18,285
Amortization	6,459	7,597
Share based compensation expense	3,470	2,680
Loss on disposal of property, plant and equipment	1,622	2,913
Restructuring costs	1,941	3,740
Asset impairment	0	10,625
Loss on disposal of subsidiaries	0	4,605
Interest expense, net	11,282	11,127
Other expense (income), net	49	(1,130)
Income tax expense	9,639	58
Net income attributable to non-controlling interest	1,152	1,190
Net income attributable to Masonite	$ 29,885	$ 3,789

Other Comprehensive Income an_3

Other Comprehensive Income and Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 29, 2019
Accumulated Foreign Currency Translation Gains (Losses) [Roll Forward]
Accumulated foreign currency translation gains (losses), beginning of period	$ (113,336)	$ (129,930)
Foreign currency translation gain (loss)	(38,687)	12,990
Income tax benefit (expense) on foreign currency translation gain (loss)	(44)	12
Cumulative translation adjustment recognized upon deconsolidation of subsidiary	0	(1,001)
Less: foreign currency translation gain (loss) attributable to non-controlling interest	(579)	216
Accumulated foreign currency translation gains (losses), end of period	(151,488)	(116,143)
Accumulated Amortization of Actuarial Net Losses [Roll Forward]
Accumulated pension and other post-retirement adjustments, beginning of period	(16,833)	(22,989)
Amortization of actuarial net losses	173	404
Income tax expense on amortization of actuarial net losses	(45)	(105)
Accumulated pension and other post-retirement adjustments	(16,705)	(22,690)
Accumulated other comprehensive loss	(168,193)	(138,833)	$ (130,169)
Other comprehensive income (loss), net of tax	(38,603)	14,302
Less: other comprehensive income (loss) attributable to non-controlling interest	(579)	216
Other comprehensive income (loss) attributable to Masonite	(38,024)	14,086
Foreign currency translation gain (loss)	$ (38,687)	$ 13,991

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 29, 2019
Supplemental Cash Flow Elements [Abstract]
Property, Plant and Equipment, Additions	$ 4,600		$ 6,300
Transactions involving cash:
Interest paid	22,662	$ 23,785
Interest received	641	672
Income taxes paid	3,030	1,308
Income tax refunds	392	0
Cash paid for operating lease liabilities	6,835	6,290
Cash paid for finance lease liabilities	317	0
Non-cash transactions from operating activities:
Right-of-use assets acquired in under operating leases	$ 3,863	$ 20,289

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information Cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 29, 2019	Mar. 31, 2019	Dec. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 114,375	$ 166,964
Restricted cash	10,644	10,644
Total cash, cash equivalents and restricted cash	$ 125,019	$ 177,608	$ 90,627	$ 126,141

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Senior Notes - Fair Value, Inputs, Level 2 - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 29, 2019
Senior Notes Due 2028 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	$ 487,668	$ 529,105
Senior Notes Due 2028 | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	493,835	493,648
Senior Notes Due 2026 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	293,249	318,846
Senior Notes Due 2026 | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	$ 296,503	$ 296,367